A partnership is a sinking ship.
Career change
- Thread starter Jampy00
- Start date
I would steer clear of anything including partnerships...especially while you're still not 100% sure which way you want to go. It's just asking for trouble.
I fell into my current career by sheer fluke, and have been very lucky and fortunate in the way it's wound it's way to me over the last 2 decades...but I also think it's time for a change.
Once I get back from vacation I'm firing up my side hustle contracting gig up again as why the hell not. Maybe something will come of it...maybe not...but there's only one way to find out.
Best of luck to you.
I fell into my current career by sheer fluke, and have been very lucky and fortunate in the way it's wound it's way to me over the last 2 decades...but I also think it's time for a change.
Once I get back from vacation I'm firing up my side hustle contracting gig up again as why the hell not. Maybe something will come of it...maybe not...but there's only one way to find out.
Best of luck to you.
Why would you want a partner?
Capital? Business acumen? Someone to share/spread the workload?
If it's the latter, better just to hire a manager or employee and keep the working relationship well-defined.
If it's the former, then what do you bring to the table? Why isn't the partner just hiring you as an employee?
Capital? Business acumen? Someone to share/spread the workload?
If it's the latter, better just to hire a manager or employee and keep the working relationship well-defined.
If it's the former, then what do you bring to the table? Why isn't the partner just hiring you as an employee?
I'll just skip out back to the money tree.
While I agree many partnerships fail, in a fantasy land where my money tree grows, it would be nice to share the experience.
Just talking things through.
I went from working for a company to opening my own, servicing what I used to sell. Since I had a good reputation with my clients, I didn't have to bang on a lot of doors to get positive cashflow started.
However it was a specialty market. The "Me Too" market can be brutal.
However it was a specialty market. The "Me Too" market can be brutal.
Agreed, that's probably the biggest factor in my hesitation.
I deal with it already with my current position.
Too many fish, not enough pond...
If you invent a new product, patent it and start manufacturing in Canada does the Canadian government assist you when copies start coming ashore from the Pacific rim?
Not exactly. They have a dedicated graft program though. You go to the government and whine that your product is amazing but isn't getting respect because you don't have a major customer yet. Government of Canada will buy your product first so then you can advertise that the government bought it. There is probably a viable career path running that loop over and over and never bother trying to sell to others. Just take the government money and run.
How about running a storage locker business? I've always wondered about those businesses. They seem like they'd be easy to run and wouldn't take too much of your time. Does anyone know more about how to get started? I guess you'd need a decent sized property just outside of town but not too far away, then you'd need to pay someone to build all the lockers. After that your only expense should be taxes, insurance, and probably the occasional minor maintenance. I guess profitability would depend on how close you are to big population areas. Anybody know more?
Don't think I'll be recreating the wheel.
Agree with @crankcall almost every market is saturated.
Just trying to hypothetically discuss options without going down rabbit holes.
Agree with @crankcall almost every market is saturated.
Just trying to hypothetically discuss options without going down rabbit holes.
Might be best to buy an old one and renovate?
Yeah if you can find one, but people probably aren't gonna be selling theirs if it's in a location that makes good profit.
Depending on where. If you build proper structures for mega bucks after zoning and impact studies it's one thing. A person with vacant land can bring in a bunch of clapped-out shipping containers and laugh at the costs. A couple hundred a month and the box is paid for in a year. Then it's gravy.
Check the local bylaws and know what you're storing.
Decades ago I ran the numbers for an entrepreneur that was considering a carwash or storage business. Short answer was based on the information I had, the economics sucked. Like many things, the real profit came from the use covering the expenses to allow you to hold the land for decades and at that point you cash out and make bank.
Storage locker companies are slowly consolidating. There are the monsters that build huge multi-storey buildings and smaller companies that scoop up the independents (either buying them outright or taking over management so the owner can be fully passive).
What things do you love to do? Well ones that you might make a living from? If you can do it part time to learn more of the business side of things while doing what you are doing now for income. I’ve changed careers 3 times and each one very different, only 1 was not by choice. As you list things you like to do or want to learn how to do, one or two might jump up at you and surprise you. You can make money at just about anything if you market it right.
Jay Alexander
Well-known member
@Jampy00 if you're unsure of what you want to be doing, start with the types of skillsets you have that can crossover to another industry. Think about what interests you, and use something like Predictive Index or Success Finder to measure these for you. They're actually really great and insightful tools.
I personally have had multiple careers, but I always utilize skillsets I have developed from previous experience. Possibly the most important thing is to network - know people in the industry. Sit down and have coffee chats with them. Ask about their day-to-days, deliverables, challenges, etc. Be very direct when interacting with these people and say what you want to do. People have a tendency to want to help others.
It's a very broad question, and I did not really read through the thread, so unsure if you previously mentioned hobbies, passions, current skillsets, future skills you wish to develop, etc.
I personally have had multiple careers, but I always utilize skillsets I have developed from previous experience. Possibly the most important thing is to network - know people in the industry. Sit down and have coffee chats with them. Ask about their day-to-days, deliverables, challenges, etc. Be very direct when interacting with these people and say what you want to do. People have a tendency to want to help others.
It's a very broad question, and I did not really read through the thread, so unsure if you previously mentioned hobbies, passions, current skillsets, future skills you wish to develop, etc.
I'm in industrial automation maintenance/management. Have you considered teaching at your local college? 5yrs experience in the field needed usually. Career change sometimes crosses my mind as well and noticed openings at Loyalist and Flemming near me this year in electrical, instrumentation, etc.)
While there may be openings is specific courses, in general, colleges are a blood bath right now. Losing half (or more) of their international students meant they were over staffed and more importantly had gotten used to the easy money and have become bloated. They are all fighting for survival.
