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53

Send my first invoice for my own business today.

submitted by germ22 to Machining 3.3 yearsJan 6, 2022 23:04:39 ago (+53/-0)     (Machining)

Starting my own machine shop, and send my first invoice today. Feels pretty good.
I still have so much to learn when it comes to running a business. But one thing i have already figured out, it takes a lot less hours of work to make more money compared to being employed somewhere.


64 comments block

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[ - ] deleted 14 points 3.3 yearsJan 7, 2022 00:26:46 ago (+14/-0)

deleted

[ - ] CoinQuest 2 points 3.3 yearsJan 7, 2022 08:54:23 ago (+2/-0)

You can't please anyone, so you've got to please yourself!

[ - ] 1Icemonkey 10 points 3.3 yearsJan 7, 2022 00:18:54 ago (+10/-0)

First rule of owning a business that I learned, and I’m 25 years into that trip, is, get a cpa. Have a pro do your books and taxes and never get into trouble.

[ - ] lord_nougat 5 points 3.3 yearsJan 7, 2022 00:42:27 ago (+5/-0)

I wish I had done that...

[ - ] Merlynn 8 points 3.3 yearsJan 7, 2022 03:20:43 ago (+8/-0)

Most CPAs are jews.

[ - ] lord_nougat 0 points 3.3 yearsJan 7, 2022 11:08:51 ago (+0/-0)

Thanks, but I already have an accountant.

[ - ] natehiggers 6 points 3.3 yearsJan 6, 2022 23:10:55 ago (+6/-0)

Congrats, I know several machinists who have their own shops. They are quite successful.

[ - ] Splooge 5 points 3.3 yearsJan 7, 2022 03:32:49 ago (+5/-0)

Make sure you make a copy and frame it next to your first dollar fren

Congrats

[ - ] Jerd34 5 points 3.3 yearsJan 7, 2022 00:00:58 ago (+5/-0)

You hiring??

[ - ] rhy 4 points 3.3 yearsJan 7, 2022 03:26:48 ago (+4/-0)

Accept crypto and fuck the IRS.

[ - ] pshawman 2 points 3.3 yearsJan 7, 2022 04:00:08 ago (+2/-0)

Dont accept crypto and still fuck the IRS.

[ - ] 2017Fallout 1 point 3.3 yearsJan 7, 2022 04:26:24 ago (+1/-0)

Accept crypto and discount for cash

[ - ] lord_nougat 0 points 3.3 yearsJan 7, 2022 11:10:05 ago (+0/-0)

Crucifixion for some, small American flags for others.

[ - ] dingbat 2 points 3.3 yearsJan 7, 2022 13:11:59 ago (+2/-0)

Your reasons for starting your own business were mine exactly. Gotta work smarter, not harder. 8years of being my own boss here. Many congratulations and best wishes to you!

[ - ] RedBarchetta 2 points 3.3 yearsJan 7, 2022 13:08:16 ago (+2/-0)

Congratulations.

[ - ] SirNiggsalot 2 points 3.3 yearsJan 7, 2022 11:49:46 ago (+2/-0)

Congratulations friend !
Hope you are successful beyond your wildest dreams

[ - ] mannerbund 2 points 3.3 yearsJan 7, 2022 11:18:40 ago (+2/-0)

Reinvest in your tooling and yourself often is my advice as someone who went this path years ago. It pays off in the long run.

Excellent decision to do it, it's a really good feeling to work for yourself.

[ - ] TerryB 2 points 3.3 yearsJan 7, 2022 11:17:27 ago (+2/-0)

I don't know about the US but where I'm from I set up my business as a limited liability company and was able to make myself a share holder and then my wife a special share holder. I pay myself with dividends because here dividend personal income isn't taxed until it gets up to a high amount. And when I pay myself a dividend I don't have to pay my wife (the other share holder) one at the same time hence the 'special share'.

[ - ] zongongo 2 points 3.3 yearsJan 7, 2022 10:57:57 ago (+2/-0)

In France, "le patron" means the boss.
In English, the patron is the customer.
The customer is not always right.
The boss calls all the shots.

[ - ] germ22 [op] 1 point 3.3 yearsJan 7, 2022 13:20:08 ago (+1/-0)

During my apprenticeship in Germany my old boss used to say: "the customer is king, but we are the emperor."

[ - ] ForgottenMemes 2 points 3.3 yearsJan 7, 2022 09:41:36 ago (+2/-0)

Feel free to DM me any questions.

[ - ] lord_nougat 1 point 3.3 yearsJan 7, 2022 11:11:37 ago (+1/-0)

Why?

[ - ] ForgottenMemes 1 point 3.3 yearsJan 7, 2022 11:40:16 ago (+1/-0)

I built a business up from nothing and am willing to help OP if he has any specific questions or problems.

[ - ] Jerd34 0 points 3.3 yearsJan 7, 2022 13:07:57 ago (+0/-0)

What kind of business?

[ - ] ForgottenMemes 1 point 3.3 yearsJan 7, 2022 13:52:05 ago (+1/-0)

Actually a few different ones.

When I was still in school I sold spare parts for discontinued snowmobiles.
When MS office was like $400 a copy sold OEM (possibly pirated) software.
My main business was internet shit. SEO, custom programming, etc.
I retired at 40, but have a few rentals to keep an income flow (technically that's a business, but I don't consider it one) so I don't have to touch my stocks and crypto.

[ - ] Jerd34 0 points 3.3 yearsJan 8, 2022 14:01:21 ago (+0/-0)

That's great. Wish I could get there

[ - ] Cpt_Dirt 2 points 3.3 yearsJan 7, 2022 09:28:19 ago (+2/-0)

It'll feel better collecting that invoice.

[ - ] germ22 [op] 0 points 3.3 yearsJan 7, 2022 23:11:17 ago (+0/-0)

Collected on that invoice today :)

[ - ] BoraxTheFungarian 2 points 3.3 yearsJan 7, 2022 09:13:14 ago (+2/-0)

Ah! And in the meanwhile, I appear to have been shorted by about half of my wage slave paycheck at the new place I’m working!

It seems I have stumbled accross the karmic balance in the force this morning.

Seriously, congratulations. I hope you make it work for you.

[ - ] beece 2 points 3.3 yearsJan 7, 2022 08:15:56 ago (+2/-0)*

Good job! Remember that to keeping your fixed expenses down is at least as, if not more important, than getting income and sales up. (but you need both)

Couple of guys around here with a successful machine shop I knew went out and bought big Durangos because "It's a tax write off". If they'd paid cash, I could understand it, but they didn't. They're out of biz now when a large customer took his shit over to China and they had the machine bill and the Car bill still pending. BTW, I always played it straight on taxes and slept well. I'd advise the same. Especially now when they are hiring 87,000 new irs agents to catch the "113 billionares who need to be audited".

[ - ] sguevar 2 points 3.3 yearsJan 7, 2022 06:27:59 ago (+2/-0)

Congrats dude, keep the fight and keep it honest!

Never go for easy money and always go for hardwork.

Though I agree to a certain extent, the above applies as well for employed people.

Work needs to be valued.

[ - ] boxslowly 2 points 3.3 yearsJan 7, 2022 04:39:59 ago (+2/-0)

You have taken what I would consider to be the most important step anyone can take in life. You found a skill you can charge people to do for them and you are working for yourself. Congratulations. You'll make less money for a while, but you can just work more if you want to. Now you're paid according to your ability.

[ - ] 2017Fallout 2 points 3.3 yearsJan 7, 2022 04:29:40 ago (+2/-0)

Been running mine for 10 years now alongside a paye job. Working for myself is far more satisfying. Keep your work a1 and your prices fair. Good luck

[ - ] SilentByAssociation 1 point 3.3 yearsJan 7, 2022 06:14:21 ago (+1/-0)

That's a route I'm seriously considering taking. Doing contract work in addition to a W-2 job.

[ - ] 2017Fallout 1 point 3.3 yearsJan 7, 2022 18:22:52 ago (+1/-0)

It means you can save up or in my case pay off my mortgage. Looking at doing that within the next 5 yrs. That will be 11yrs sooner than uf only did paye

[ - ] SilentByAssociation 1 point 3.3 yearsJan 7, 2022 20:51:50 ago (+1/-0)

In my case it would mean I could get a mortgage. Most likely a non-QM mortgage; seriously considering an interest-only option as there would be no prepayment penalty since it's owner-occupied.

[ - ] 2017Fallout 0 points 3.3 yearsJan 8, 2022 04:48:32 ago (+0/-0)

I found myself a flexible financial advisor as on paper I could get a mortgage. Had it 5 years now and not only never missed a payment due to my extra income I'm overpaying £1000 a month. I don't buy shit except food and stuff i cannot do without. Fuck wasting money on clothes, holidays and gadgets. Spending makes the chains that keep you in the system. Good luck.

[ - ] SilentByAssociation 1 point 3.3 yearsJan 8, 2022 07:20:36 ago (+1/-0)

That's fantastic! I love to hear when goats are thriving.

I absolutely agree; I hate useless consuming. Let me maintain the stuff I own and build up assets. Though, in my current season, generosity is a big theme. I'm on the receiving end and learning how to reciprocate as well.

For all the bitching people have done regarding 2021, it's been great for me and 2022 is looking even better. That seems to be the case for most goats, and I couldn't be happier about that. I wish you best!

[ - ] 2017Fallout 1 point 3.3 yearsJan 9, 2022 05:20:02 ago (+1/-0)

Me too. I like the idea of generosity though. Currently i am just supporting my immediate family but definitely room to give others a lift too. Best of luck to you in 2022.

[ - ] UrCoolerOlderBrother 2 points 3.3 yearsJan 7, 2022 03:23:33 ago (+2/-0)

good call man. my dream is to be self employed. good luck to you

[ - ] SilentByAssociation 1 point 3.3 yearsJan 7, 2022 06:15:43 ago (+1/-0)

If you really want to, you can make it happen.

[ - ] veggy 2 points 3.3 yearsJan 7, 2022 02:57:34 ago (+2/-0)

learn about marketing. It is a must as "poeple don't know to even hire you, if they don't even know you exist..."

All small business folks think its unnecessary or word of mouth will carry them, but it really should be about 30% of your time... especially, just starting out...

Theres a reason, most major projects or companies spend upwards of 40% on their marketing budgets and programs.
cheers and good luck.
\

[ - ] Jiggggg 2 points 3.3 yearsJan 7, 2022 01:41:40 ago (+2/-0)

Congratulations!!!!

[ - ] thebearfromstartrack4 1 point 3.3 yearsJan 7, 2022 15:25:28 ago (+1/-0)

Was it a bill to uncle same for all of the annual tax services you did for them over the years?

[ - ] Garrett 2 points 3.3 yearsJan 6, 2022 23:39:35 ago (+2/-0)

congrats

[ - ] SparklingWiggle 1 point 3.3 yearsJan 7, 2022 10:09:32 ago (+1/-0)

Congratulations. It must be nice to name the jew and say "nigger" without fear of being fired.

[ - ] derpfroot 1 point 3.3 yearsJan 7, 2022 09:52:22 ago (+1/-0)

Feels good. Proud of you, fren. Very rewarding.

Also, there are a million things to the marketing portion of the business. But it's still easier to hire a good marketing company, if you can....or even want/need to. Some people immediately get more business than they can handle right out of the gate.

[ - ] NeonGreen 1 point 3.3 yearsJan 7, 2022 08:25:12 ago (+1/-0)

Remember... Cashing a check at someone else's bank makes it super difficult to track for reporting purposes... So if you get a gigantic conrtact... Maybe you didn't get a contact on paper.

[ - ] Teefinyomouf 0 points 3.3 yearsJan 7, 2022 15:19:24 ago (+0/-0)

Can you even do that? "I'm sorry but there's a $50 maximum for non-members" is what I'd expect.

[ - ] NeonGreen 0 points 3.3 yearsJan 8, 2022 16:15:37 ago (+0/-0)

Fuck no. That's a check. They need to honor it. I've cashed out 4K+ USD checks from someone else's bank before.

Maybe some credit unions would try that, hell it might be more sticky now. Been 4 years sense I've done business stateside.

[ - ] Teefinyomouf 0 points 3.3 yearsJan 15, 2022 16:19:55 ago (+0/-0)

It's well known that niggers wash checks and policies are based on that, supposedly. The real motivation is the globohomo panopticon. I should try what you say. I haven't ever been successful though, even years ago. Maybe I look like a check washing nog.

[ - ] GlowNiggerDick 1 point 3.3 yearsJan 7, 2022 07:36:16 ago (+2/-1)

Make sure you have website and are listed on Google my business. Also check the cost of ppc keyword advertising on google, I'm willing to bet the local machine shop ad bids are pretty cheap. Do free advertising on classifieds like Craigslist offer up etc link your wbesite... Ask your friends and customers to give you reviews that use relevant keyword. Trust me if you do this you will be the top person that comes up on maps when anyone near you typed in machine shop. With quality work and good marketing there is no reason for you not to be a top player within 3 years.

[ - ] UrCoolerOlderBrother 1 point 3.3 yearsJan 7, 2022 03:24:53 ago (+1/-0)

yeah like the other guy asked, are you hiring? haha

[ - ] germ22 [op] 3 points 3.3 yearsJan 7, 2022 03:28:23 ago (+3/-0)

Not for a very long time.Mmy goal is not to make more money, but to work a lot less for the same amount of income i had when employed. Maybe even less, since i really don't need much but very much enjoy my time off.

[ - ] NedsHead 3 points 3.3 yearsJan 7, 2022 09:18:56 ago (+3/-0)

I dream of that day! I was thinking of going into gunsmithing because it's a niche cashed up market here in Australia, I'm gonna tool up my home workshop and see if it works out, either way I'll have some nice tools at home! getting real sick of the multinational company I work under and all it's arse licking faggot managers/supervisors

[ - ] SilentByAssociation 1 point 3.3 yearsJan 7, 2022 20:55:51 ago (+1/-0)

I've considered gunsmithing as well... SDI (https://www.sdi.edu/) doesn't appear to be a bad choice. It's something I've kept in my back pocket for a few years...

[ - ] CoinQuest 0 points 3.3 yearsJan 7, 2022 08:55:26 ago (+0/-0)

This is not how this works, but you will find out.

[ - ] germ22 [op] 0 points 3.3 yearsJan 7, 2022 23:12:46 ago (+0/-0)

Why would this not work?

[ - ] CoinQuest 0 points 3.3 yearsJan 8, 2022 04:51:25 ago (+0/-0)*

1. Need to save some for a rainy day. So you work a bit more.
2. Customer needs it yesterday.
3. Work comes and goes with the seasons / hollidays.
4. You might be machining only a few hours a day, but youĺl spend the rest running your bussines. (advertising, bookkeeping, customer support, ordering stock, aranging transport, the list is neverending)

[ - ] lord_nougat 1 point 3.3 yearsJan 7, 2022 00:41:48 ago (+1/-0)

Good luck with the IRS!

[ - ] account deleted by user 0 points 3.3 yearsJan 7, 2022 04:32:56 ago (+0/-0)

account deleted by user

[ - ] rage -2 points 3.3 yearsJan 6, 2022 23:34:15 ago (+0/-2)

Don't worry, the IRS is being weaponized to make sure your small business fails.

Good luck, though.

[ - ] germ22 [op] 0 points 3.3 yearsJan 7, 2022 01:43:29 ago (+0/-0)

Would be the CRA for me, but they are generally not the problem around here. It's usually bylaw officers and their lakies that give businesses a hard time.