Share Pics of People Hauling or Towing Something Wrong

[Suburban Plowboy]

I used to work for a guy who had a big nightclub. He was born in the dirt. He drove a coal truck. He ended up buying more. Probably didn't graduate from high school. Lots of money.

His hourlies stole from him constantly and resented him. They got me moved from my position near the cash register so they could keep stealing from it. Was their "thought process" closer to yours?

My uncle got himself a couple of lots in Detroit. He charged the union workers, who worked 4 hours per day, to park there. Worked like a slave. Ended up buying his own car dealership. He eventually lost the dealership. The hourlies stole parts and sold them out the back door, and it crippled the business. They moved on to other jobs.

My dad was a poor orphan. Went to school on the GI Bill and ended up running his own law firm. My grandfather was poor, and his dad died when he was a small child. He worked in coal mines and got a law degree, and he ended up with a lot of wealth.

One of the richest guys in my grandfather's town was a guy who had no education and opened a supermarket. Started small and then built a big one. Another guy opened a trucking company. He was loaded. Another one had a few coal trucks. Started with nothing. Always drove an Eldorado and lived well.

How many more stories do you want?

I admire these people. I don't have what it takes to do what they did, but then I don't expect to be rewarded as much either.

 

[Fuddyduddy1952]

Over a century ago my Grandfather was on a train Carbondale to Scranton Pennsylvania sitting beside this old guy who told him "always work for yourself. If you're worth $1/hour to someone else you're worth $2/hour to yourself".

 

[WinterDeere]

Amazing, absolutely amazing, your thought process.

You disagree? You think we'd be where we are today, without entrepreneurs and others who put their own wellfare on the line to reach for something beyond a safe hourly wage?!? Where would we be today without Jobs and Woz, Gates, Hewlett & Packard, or even the old greats of Westinghouse and Edison?

With very few exceptions, nearly every successful person I know, from landscapers up through biomedical engineers, have one thing in common: they struck out on their own, and work for themselves. In many of those cases, my own included, it was at great risk and personal peril of financial ruin.

I just extended more credit to a customer in Taiwan, than I used to make per year as a salaried engineer. I sure hope they pay in the end, it's going to really hurt if they don't, but the reward will be worth it if I can manage to satisfy the contract. These big risks are how I manage to occasionally make 4x - 10x what I had managed as a salaried employee.

 

[masscity]

You disagree? You think we'd be where we are today, without entrepreneurs and others who put their own wellfare on the line to reach for something beyond a safe hourly wage?!? Where would we be today without Jobs and Woz, Gates, Hewlett & Packard, or even the old greats of Westinghouse and Edison?

With very few exceptions, nearly every successful person I know, from landscapers up through biomedical engineers, have one thing in common: they struck out on their own, and work for themselves. In many of those cases, my own included, it was at great risk and personal peril of financial ruin.

I just extended more credit to a customer in Taiwan, than I used to make per year as a salaried engineer. I sure hope they pay in the end, it's going to really hurt if they don't, but the reward will be worth it if I can manage to satisfy the contract. These big risks are how I manage to occasionally make 4x - 10x what I had managed as a salaried employee.

From what I'm reading is that hourly workers only steal from the company and show up for a check on Friday.

 

[WinterDeere]

From what I'm reading is that hourly workers only steal from the company and show up for a check on Friday.

That would be an unfair assessment, indeed. But I don't think that's what he had meant to imply.

 

[EscapedSuburbia]

I have no problem with someone getting wealthy by taking chances and putting in the work to build a business. I had a neighbor that was a good example of that - he has a high school education and went from sales to building a medical supply company from scratch. He put in (and still does) a ton of hours. He's had close calls with bankruptcy over the years and everything he owns is on the line, including his house and retirement. He deserves every penny he makes.

What I don't like that CEOs of established companies make millions. They didn't build anything and they have no more skin in the game than the janitor. In fact, they have less because if they get canned they walk away with a golden parachute. I've watched CEOs of Fortune 500 companies come and go and most made no measurable difference in the success of the company. Business schools have done lots of case studies showing that high CEO pay does not correlate to company success and a lot of times it's the complete opposite. The entire boards of directors concept is a scam. Every CEO is on the board of multiple other companies and they all determine each other's compensation.

 

[KennyG]

Bad actor employees are a very small minority. But all it takes is one to sink a small business. Employees that don't show up (physically or mentally) are somewhat more common but still a problem.

 

[BigBlue1]

From what I'm reading is that hourly workers only steal from the company and show up for a check on Friday.

What amazes me is the mindset that had you jumping straight to _that_ conclusion from Plowboy's post. How THAT is what you took away from the post is kinda crazy to me. But I guess that's the difference between the general tendencies to look for and find fault and problems with things anywhere one can versus looking for an finding positives and inspiration in something. If I had to guess, I think I could place what side of the political spectrum you fall on and it likely is the opposite one from me (and probably others here). This mindset is a key differentiator. Why pick the bad story in everything?

 

[Jstpssng]

Not everybody is cut out to be an entrapenauer. It takes more than just hard work. Among other things you also need to know when to take risks and when to set pat. You need to know how to manage people, both employees and customers.
You need to know how to manage your money, and not to give up when things gey tough.
Years ago in a landscaping course, a local businessman came in and talked to the class. What I remember most about his talk was when he said "There are times when you meet somebody on the sidewalk and you walk across the road to avoid him."

 

[Fuddyduddy1952]

I think it all boils down to level of comfort. Entrepreneurs need workers and lots of businesses fail within the first few years.
I worked for a few factories (miserable experience) then trade school & some college as electronic troubleshooting, consumer electronics. I worked for a large appliance store '72-'78, first 3 years $3.50/hr (foreman made $3.75), then last 3 years for 1/2 labor, "self employed subcontractor". Wow! Now I was making 4x what I was. Owner let me go because "you're the only one working"...hourly guys sitting around.
Wife talked me into opening a business. She was great with customers, I was not. First two years we could barely get by...third year my former boss brought truckloads of stuff for us to repair, now 100% labor!
We moved & business really took off.
A funny story: VCRs we had stacked to ceiling. One popular brand used 2 rubber belts. Locally they were 2/$5.00 we sold $5 each. I got a catalog & they were much cheaper in quantity so I called what price would be if I ordered 10,000 each! They called me next day...6 CENTS! So I ordered 20K.
Those belts alone paid for my house.