Please give me some feedback on my plans.

[CLE]

I am currently a salesman for a very small scale local company. Since starting there several years ago I have been able to increase profit margins do considerably better than the previous salesman in my position. I've had a knack for locating items that customers need at lower cost or negotiating the cost so our profit margins are higher. My pay is based on salary combined with a super tiny commission after a certain amount of profit. A fair amount of time has gone by since a salary adjustment and in the last few months is when I realized I needed to work on my own to really make it. I plan on taking what I have learned and applying to my own game. My plans are to cater to the sales needs of farms, ranches, and businesses in my local area like I currently do now. I have established a business name/license with the state and plan on starting small a little on the side and when things get to point that I'm too busy to keep up as a part time side gig is when I plan on leaving my job. I know this all sounds very slowlane to some of you. I'm currently reading the book but I'm only about 1/3 finished. Despite this plan being "slowlane" in nature I do believe it is a pathway to brighter future for me. I'm just sick of other people living a lavish life of off my sales while I get by on what is considered to be just above poverty. My hard work and proven results have not yielded me much in return at the hands of an employer. I'm sure it may take 2 or 3 years before things get good but still better than being someone else's tool for life.

 

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[248N8]

I am currently a salesman for a very small scale local company. Since starting there several years ago I have been able to increase profit margins do considerably better than the previous salesman in my position. I've had a knack for locating items that customers need at lower cost or negotiating the cost so our profit margins are higher. My pay is based on salary combined with a super tiny commission after a certain amount of profit. A fair amount of time has gone by since a salary adjustment and in the last few months is when I realized I needed to work on my own to really make it. I plan on taking what I have learned and applying to my own game. My plans are to cater to the sales needs of farms, ranches, and businesses in my local area like I currently do now. I have established a business name/license with the state and plan on starting small a little on the side and when things get to point that I'm too busy to keep up as a part time side gig is when I plan on leaving my job. I know this all sounds very slowlane to some of you. I'm currently reading the book but I'm only about 1/3 finished. Despite this plan being "slowlane" in nature I do believe it is a pathway to brighter future for me. I'm just sick of other people living a lavish life of off my sales while I get by on what is considered to be just above poverty. My hard work and proven results have not yielded me much in return at the hands of an employer. I'm sure it may take 2 or 3 years before things get good but still better than being someone else's tool for life.

There will be quite a few answers that you will get here but I like: jump when you are almost ready.

The jump now mentality is based around the idea that if you have to support yourself with your ideas and your own work ethic you are more likely to get it done. Which I can say is true. I quit my job last summer and have been working to make back my salary in new avenues. But I had a cushion for the unexpected. I made sure I had 4 months of expenses in the bank before I really started to work on my ideas. That is where the jump when you are almost ready comes in. Make sure you know what your expenses will be and really make sure you include the cost of your new health insurance as well. It will give you more confidence in your plans and give you a better start towards your new path.

 

[Bananas]

I am currently a salesman for a very small scale local company....My plans are to cater to the sales needs of farms, ranches, and businesses in my local area like I currently do now.

Do you have a non-compete with your current company? I think I am reading that you want to do what you are currently doing, but for yourself instead of for your current employer.

 

[Vigilante]

I am currently a salesman for a very small scale local company. Since starting there several years ago I have been able to increase profit margins do considerably better than the previous salesman in my position. I've had a knack for locating items that customers need at lower cost or negotiating the cost so our profit margins are higher. My pay is based on salary combined with a super tiny commission after a certain amount of profit. A fair amount of time has gone by since a salary adjustment and in the last few months is when I realized I needed to work on my own to really make it. I plan on taking what I have learned and applying to my own game. My plans are to cater to the sales needs of farms, ranches, and businesses in my local area like I currently do now. I have established a business name/license with the state and plan on starting small a little on the side and when things get to point that I'm too busy to keep up as a part time side gig is when I plan on leaving my job. I know this all sounds very slowlane to some of you. I'm currently reading the book but I'm only about 1/3 finished. Despite this plan being "slowlane" in nature I do believe it is a pathway to brighter future for me. I'm just sick of other people living a lavish life of off my sales while I get by on what is considered to be just above poverty. My hard work and proven results have not yielded me much in return at the hands of an employer. I'm sure it may take 2 or 3 years before things get good but still better than being someone else's tool for life.

"My plans are to cater to the sales needs of farms, ranches, and businesses in my local area like I currently do now."

You'll get fired the minute your current employer detects this, and you are catering to a small industry. They'll find out, and the bomb will explode before you are ready to. If you are competing against your employer, this will explode on you. Not a good strategy.

No "salary adjustment" is ever going to make you happy, nor should it. It's a temporary minimal gain. Plus, you have been working for peanuts for several years. And you are willing to do that for more YEARS? You don't live on much, so you don't need much.

My guess? If you do this as you outlined above, 1 of 2 things will happen :

1. your employer will find out and FIRE YOU and you will be on unemployment, but they will contest the unemployment because you undermined their business.
or
2. you will NOT ever do it

I think your plan SUCKS.

 

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[CLE]

That's why I'm open to opinions here. Doesn't sound like a solid plan according you so I should reconsider. I should have mentioned I wasn't really going to be offering the same products as my current employer. I have a very good relationship with many of my current customers and am aware of other products they need we don't offer. All I know is I'm good at sales and acquiring product at the best possible price so I can maximize profits. I've made that company a lot of money and could have made it even more if I had the opportunity to run with some of my ideas. At this point in time I'm feeling like I put in a whole lot more than I'm getting back so I'd like to do something in my life to enrich my own life instead of someone else's. It seems like most of you on here are very techy computer coder types and such. I don't have that background and would to prefer to stick in sales/rentals or something of that nature. I'm not afraid of making an investment. What I am afraid of is watching the years go by as my employer continues to go on vacations and purchase premium vehicles while I make the money and live a drastically lower quality of life. I'm almost 40 and have never been on a vacation once in my life. The thought of spending $3,000-4,000 on something for myself that is non essential seems almost out of this world to me. I'm just looking to make a change if possible so I don't die poor and someone else's slave.

 

[mrarcher]

What's with the whole slave thing? You are an employee, selling your time for money and you can quit any time you like. Hardly slavery I it? If anything the only one keeping you there is you. It sounds to me that what you are looking for is more money. If Tha is the case why don't you go to your employer and tell them that you know customers that want X product and you know where to source them cheaply but you want Y commission on the products you sell. That way you will earn more money and test the market for a need. If it is good you could set up in another area.

 

[CLE]

I'm still reading the Fastlane millionaire. I never make a life changing decision to quickly. I will finish the book and consider my options. One option I'm considering is acquiring a rental property or two so I can create some passive income.

 

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