3 ms·

Or as I found out: Don’t start something that requires physical labor - even if it’s as low intensity as say 3D modeling - if you don’t have a temp stand in av

Or as I found out: Don’t start something that requires physical labor - even if it’s as low intensity as say 3D modeling - if you don’t have a temp stand in available. If you get hurt, even a little, everything stops completely and you lose repeat business immediately

nicbou 3y ago
I'd even abstract it to "don't start something that ties your income to hours worked". If you're working alone, you will need time off, and no one can cover for you. It's easier to take time off if your project can survive a few weeks with minimal work. If something comes up in your personal life, you can set the business aside and sort it out. I learned my lesson early on. I was making websites for small businesses in college. If a client's site had issues, I could not tell them "sorry, I'm preparing for a very important exam". I had to drop everything and fix that right now.
cinntaile 3y ago
That's just part of being a 1-man show and not something you can really avoid. If you hurt your hands you can't write code either so it doesn't save you.
- sowbug 3y ago
  I think it's more subtle than that. If you're in a service industry, and you can't serve, your cash flow stops. But if you're selling a product, then the product can keep generating income as long as it's valuable. Obviously, you can think of yourself as being in the service of building a product, but that doesn't nullify the distinction. In fact, it can strengthen it: devote your initial efforts to building the sellable part of the product, so that you can actually sell it as soon as possible. (This is the "capital" part of capitalism. Use labor to build capital, then profit off the capital.)
jermaustin1 3y ago
My side gigs almost always involve a little physical labor. Everyone writes code, but how many people do small-scale manufacturing of wood products? Its hard to compete with bigger shops, but selling on platforms like Etsy (so long as you are willing to bet on yourself) can be semi-lucrative. Running the numbers this morning since a friend asked, in the past 117 since I started my latest side-hustle selling wooden things, I've done 245 orders, selling 251 items for a total gross revenue of $5,612.19. It isn't retire to a private island money, but it covers the costs it is supposed to (mortgage & utilities). I usually let these hustles go a year before deciding to give up or invest more time and energy.
- nasmorn 3y ago
  $5612 after expenses and tax cover your mortgage? Was this per month or per year?
  - Brian_JM 3y ago
    A modest home, in a LCOL area, purchased in the 90s or early 2000s, could have an annual mortgage in this range. Post 2020 may be higher (on the same mortgage) with insurance rate increases.

nicbou 3y ago

I'd even abstract it to "don't start something that ties your income to hours worked". If you're working alone, you will need time off, and no one can cover for you. It's easier to take time off if your project can survive a few weeks with minimal work. If something comes up in your personal life, you can set the business aside and sort it out. I learned my lesson early on. I was making websites for small businesses in college. If a client's site had issues, I could not tell them "sorry, I'm preparing for a very important exam". I had to drop everything and fix that right now.

cinntaile 3y ago

That's just part of being a 1-man show and not something you can really avoid. If you hurt your hands you can't write code either so it doesn't save you.

sowbug 3y ago
I think it's more subtle than that. If you're in a service industry, and you can't serve, your cash flow stops. But if you're selling a product, then the product can keep generating income as long as it's valuable. Obviously, you can think of yourself as being in the service of building a product, but that doesn't nullify the distinction. In fact, it can strengthen it: devote your initial efforts to building the sellable part of the product, so that you can actually sell it as soon as possible. (This is the "capital" part of capitalism. Use labor to build capital, then profit off the capital.)

jermaustin1 3y ago

My side gigs almost always involve a little physical labor. Everyone writes code, but how many people do small-scale manufacturing of wood products? Its hard to compete with bigger shops, but selling on platforms like Etsy (so long as you are willing to bet on yourself) can be semi-lucrative. Running the numbers this morning since a friend asked, in the past 117 since I started my latest side-hustle selling wooden things, I've done 245 orders, selling 251 items for a total gross revenue of $5,612.19. It isn't retire to a private island money, but it covers the costs it is supposed to (mortgage & utilities). I usually let these hustles go a year before deciding to give up or invest more time and energy.

nasmorn 3y ago
$5612 after expenses and tax cover your mortgage? Was this per month or per year?
- Brian_JM 3y ago
  A modest home, in a LCOL area, purchased in the 90s or early 2000s, could have an annual mortgage in this range. Post 2020 may be higher (on the same mortgage) with insurance rate increases.