Need to Make some money with my Tractor.

[Dougster]

What is up with your screen name do you live in Massachusetts and are the taxes outrageous ? David

Hi David - EVERYTHING is outrageous in the People's Republic of Taxachusetts. My property taxes went up 10.3% last year and are now going up about 15.4% this year. Since I was laid-off last year (I turned 55 and was not management - big mistake in my old business), I have no income other than the small tractor/backhoe business I'm trying to start. So far it's not even keeping the lights on.

Don't worry... I plan to escape across the border to the land of "Live Free or Die" in late 2008 (or early 2009) when my lay-off survival ARM goes variable here. Otherwise, it's curtains for the old Dougster!!!

Dougster

 

[davidseaquist]

Good luck finding a place where the taxes are more reasonable. Good luck working with your tractor. I was thinking about you being self employed. I used to work for other contractors on a temporary basis when I was hungry and not too busy. They would give me a 1099. So they would hire me as a sub contractor pay me a certain amount not take out any taxes. I would be responsible for my own taxes. I could also take business deductions for operating my business out of the income. It was a good deal for them and a good deal for me. One of my buddies does it he charged 30 dollars an hour to a contractor. Could you could hire yourself or services out to an equipment contractor or landscaper ? David

 

[Dougster]

Could you hire yourself or services out to an equipment contractor or landscaper?

Hi David - Oh absolutely... but I am falling down badly on that part of my business plan. So far, all of my business... what little there has been... has all been residential homeowners and landowners.

Oddly enough, I seem to enjoy visiting these people and talking with them about their projects and how I can help them more than I enjoy actually doing them! Go figure on that one!!! Houston, we have a problem here!!!

I get lots of calls and give out plenty of price quotes... but have actually gotten pitifully little paying work so far. This better change soon or I'm headed straight to the poor house!

Sure dang wish I was a plumber!!!

Dougster

 

[davidseaquist]

Sounds like you would be perfect for the business end of contracting. My self I enjoyed the plumbing side more than the business side. Maybe you should look into the project manager job foreman side of the business. Some businesses can get the work but they have trouble managing employees, projects, customers, daily headaches of business. If you are good at that look into how you can help other businesses grow. David

 

[Dougster]

Sounds like you would be perfect for the business end of contracting. My self I enjoyed the plumbing side more than the business side. Maybe you should look into the project manager job foreman side of the business. Some businesses can get the work but they have trouble managing employees, projects, customers, daily headaches of business. If you are good at that look into how you can help other businesses grow. David

Well, I'll tell you a secret if you promise not to let anyone else know. The fact is that I was never allowed to do much real selling in my old career. The biggest, hottest job prospects were always given over to the chosen few. In fact, all the important job prospects and marketing gigs were given out only to the "chosen" ones. The fact is that it's kinda fun trying to sell my own services. On the other hand, there's no way I want to ever go back to working for someone else if I can possibly avoid it. Doing for yourself is fun. Doing for others can be made very difficult and very unrewarding. Kissing bossman butt and business politics in general were never my strong suits.

Dougster

 

[davidseaquist]

OK I get your point. Me personally I don't work well with others, I like to do it my way. So I am a good candidate for being self employed. I never thrived as a contractor but did get to pick and choose my jobs and customers, well not all the time. I did do jobs I didn't like too much just to pay the bills. It was always feast or famine. If you do make some money set it aside for bills a rainy day and the tax man. Get yourself a good book keeper or accountant and review your expenses and tax liability. Keep accurate records of expenses, separate your business expenses form personal expenses. Open a separate checking account. Being self employed was like a roller coaster ride at times to me. Try different ways of advertising your services. Don't forget you only have to work half the day 12 am to 12 pm or 12 pm to 12am. Seriously you work 12 hrs and you are luck if you bill 8 hrs. David

 

[scott_vt]

Don't worry... I plan to escape across the border to the land of "Live Free or Die" in late 2008 (or early 2009) when my lay-off survival ARM goes variable here. Otherwise, it's curtains for the old Dougster!!!

Dougster

Afternoon Doug,
Sounds like your gonna head north ! Just curious, did your company give you a severance package ? Thats what my outfit has been doing, some packages as good as two weeks pay for every year of service ! And when that runs out your elgible to collect unemployment until that runs out also ! Of course Im not looking to find out the inner workings of all this any time soon !

 

[Dougster]

OK I get your point. Me personally I don't work well with others, I like to do it my way. So I am a good candidate for being self employed. I never thrived as a contractor but did get to pick and choose my jobs and customers, well not all the time. I did do jobs I didn't like too much just to pay the bills. It was always feast or famine. If you do make some money set it aside for bills a rainy day and the tax man. Get yourself a good book keeper or accountant and review your expenses and tax liability. Keep accurate records of expenses, separate your business expenses form personal expenses. Open a separate checking account. Being self employed was like a roller coaster ride at times to me. Try different ways of advertising your services. Don't forget you only have to work half the day 12 am to 12 pm or 12 pm to 12am. Seriously you work 12 hrs and you are luck if you bill 8 hrs. David

All good advice David... and I am on top of most of these things. My big weaknesses are busines-to-business networking and spending advertising dollars wisely. If I could ever master those last two areas, I could have it made in the shade!

Dougster

 

[Dougster]

Afternoon Doug, Sounds like your gonna head north ! Just curious, did your company give you a severance package ? Thats what my outfit has been doing, some packages as good as two weeks pay for every year of service! And when that runs out your elgible to collect unemployment until that runs out also ! Of course I'm not looking to find out the inner workings of all this any time soon !

My severance package was a bad joke... an insult after 18 dedicated, productive years for that one employer... and unemployment is long gone. If I could have gotten two weeks for every year... I'd be living the "Life of Riley" right now instead of eating soup & stale bread and struggling like mad to make my one-man tractor business work!

And yes, my future is up in the land of "Life Free or Die"! And after the living 'heck' of Taxachusetts for all these years, I might even go join those anti-tax folks... Ed and Elaine Brown... for a while! Maybe they need some tractor or backhoe work done!

Dougster

 

[davidseaquist]

I tried a few networking groups basically you have breakfast agree to use each other's services and refer each other. Have you tried property management. For my Plumbing business I had a friend help me we called up all of the property managers in the area to confirm their business address phone number and contact person. Than we typed up a letter explaining my services and rates. Than we did a big mass merge mailing. It only cost me postage and I got at least three property managers I did work for years and they referred me to their friends and other Realtors. I also went with "Neb's" business system and printed up a thousands of door knob flayers with the tear off business cards some with 10% off and senior discounts. I walked around Aries I wanted to work and hung them up on doors and talked to the customer when I got a chance. I had quite a bit of success and some new customers with this. Get some door knob fliers, business cards magnet cards etc. Of course get some magnetic signs and put them on your vehicles you would be surprised how many people will come up to to you and pick your brain or ask for estimates.