Life is to be lived with purpose. Fulfillment of that purpose requires strategy. The strategy I'm using is an Art. The Art of War.

Wednesday, February 27, 2008

The Business

Since I've been working for myself for so long I don't often consider some of the ways I made it work in the beginning. We spoke at a career day last week and I realized a lot of people may not realize the level of work, financial committment and sacrifice self-employment requires.

- When I initially started my business, I worked as a substitute teacher because it was flexible and enjoyable. I'd try to do kindergarten classes because they are 1/2 a day, or special education classes because they had shorter days and aides. Since my mother is a special ed teacher, she put the word out among her colleagues that I was available. Most subs avoid special ed classes but I knew that was the most relaxed and pleasant day a sub could have. I'd bring my laptop to school and do my work when the kids weren't there. That worked well for me because it was either do my work or stare at a wall.

I realized that clients would not be knocking just because I spread the word that I was in business, so I didn't take on any expenses that were built around expected income. I think that was the main thing that enabled me to be self-employed. If I'd had a car note or rent to pay, then I wouldn't have had the flexibility to take the self-employment journey.

I learned how to use the money I had. I couldn't rely on expected income. When I first got an office space (that I had to pay for), I remember one month having earned quite a bit of money. No one paid me, not even my corporate clients( just re-read one client paid). Back then my mother managed my money and she's great with money, so I was able to meet all expenses and remain comfortable. I blogged about it back then here is the link
Eventually I took on more things, my brother and I did a lease/purchase option and I took his house. He had purchased a new and more expensive home and told me that I needed to pay on time or else he'd have to pay. I had over a year of expenses saved at that time, so I was always able to pay him early. When I moved into that house, I also had the office space. Only looking back do I realize I was doing pretty well, I was gaining momentum. When you are in the moment its hard to notice the moment- at least that is true for me.

I eventually got engaged, moved to L.A. and had to start over. I worked for a firm for a while and learned alot about special education law and attracting clients in this area. I had a hard time separating myself from that firm because I was fearful. I didn't know if I'd be able to build a strong business here. I probably would have stayed but I got tired of getting a percentage of what I was billing at. As they say, if your boss is paying you $100k, you are making them a million.

Now the only folks I have to share the proceeds of my earnings with are the IRS, CA FTB, Social Security and the rest of them abbreviations.

Next post, I'll try to tell about how Mr. A has built his/our business. When we started that, the goal was to get gov't contracts. We started out working for private businesses and now his phone and email are ringing off the hook with companies asking him to sign on as their subconsultant for government projects.

Building a business does take a while and we were in a unique position to both quit our full time jobs and pursue self-employment. So I'll probably blog later about those challenges.

TR is currently kicking me A LOT. I usually eat my first morning meal by 7:30 a.m. its 8 a.m and I think my baby is protesting the meal delay. Must end now.

1 comment:

TJ said...

This was really interesting and helpful. I hope your pregnancy continues to go well.