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The FTMs are getting more frequent

tylerwilkinson

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My name is Tyler, which doesn’t matter. I’m a thirty something auto mechanic with a wife, a mortgage, a dog and a 4K TV with an overactive Netflix account. I have an education history in coding, but no degrees or employment history. I do have a small side business doing rudimentary property maintenance, but it’s more a necessity than anything. I've considered attempting to grow it, but the numbers aren't great.

I spent my early twenties in restaurants, my mid twenties in home improvement, and my late twenties early thirties as a mechanic. I have failed (given up!) as a self employed handyman. I became a full time mechanic a week after making the decision to go back to school full time to pursue a CS bachelors. That was my first big F*ck This Moment of my adult life, but then I opted to take the job over the gamble of investing in myself.

Being formerly self employed, there is a certain difficulty I face working for someone else when I know the value of the work I do. But I also don’t take the risk and own the building, business, assets and liabilities, etc. I earn a meager salary with bonuses for productivity, and come out with a pretty average income at the end of the year. My annual raises significantly do beat inflation.

Working for someone else is a trade off: low risk and low reward. And NO, I do not want to be a self employed mechanic. I would consider owning a profitable shop, but not to work the floor. Manual labor is not my goal. Knees don’t last forever.

Where I am at today:

The F*ck this moments are getting more frequent. I still have my day job, so clearly they haven’t become an event yet.

But something needs to change.

Scaling my side business doesn’t seem particularly practical. I could grow my income, but at the significant expense of time. Money is infinite, time is not.

My short term goal is a career change, knocking out the debt. My longer term goal is separating my time from my income.

Technology podcasts and videos have led me to the works of Seth Godin and MJ DeMarco, which are inspiring and empowering. My perspective has definitely evolved over the last few years.

Growth wise: I am certainly at the lower rungs. My prospective projects all involve using technology to improve or scale business fields I am already familiar with. Ways to capitalize on needs that either aren’t being filled, or aren’t being filled well. There are solutions out there that sometimes fall short in advertising! Can’t buy a perfect product/service if you don’t know it exists!

Anyway. I’m here to learn, to build, to thrive, and eventually to teach (that’s the goal).
 
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Tourmaline

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Tuner or Muscle?
 

tylerwilkinson

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Tuner or Muscle?

I drive a $400 ranger and a $200 civic. Both 90s vehicles. Fuel economy wins the practicality award for me. And one perk of the trade is scooping up cars people don’t want to fix CHEAP.

Just for fun, I enjoy a big mid 60s early 70s convertible with a giant engine.
 

Merging Left

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Scaling my side business doesn’t seem particularly practical. I could grow my income, but at the significant expense of time. Money is infinite, time is not.

Could you grow your income (by sacrificing your time) enough that you could eventually replace yourself (hire) in your business and maintain the income by free up most of your time?

Fastlane doesn't necessary mean fastlane from day 1. In fact it rarely does. It takes a major sacrifice at the beginning in order to see the compound success that only entrepreneurship can offer.
 
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tylerwilkinson

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Could you grow your income (by sacrificing your time) enough that you could eventually replace yourself (hire) in your business and maintain the income by free up most of your time?

Fastlane doesn't necessary mean fastlane from day 1. In fact it rarely does. It takes a major sacrifice at the beginning in order to see the compound success that only entrepreneurship can offer.

The TLDR: Besides “regular” handyman and on demand upkeep, my main squeeze is the trash for rental properties. In Rhode Island, I believe we have one of the highest densities of student rental in the country per capital. I give landlords (or tenants) a subscription type service to prevent rats, fines, and overall the filth many college students generate. Depending on their needs, $10-25 a week per address guarantees the bins out, the bins in, and varying degrees of clean up and additional rubbish removal. Obviously extra work costs extra money.
Another big thing is mattress removal, because municipal trash does not pick them up in our area. Small scale I can get rid of them with no cost to myself besides time. Our landfill takes three a day per license plate, no charge. The fee gets excessive after that.
So yes, I could farm it out if I grew it. I also like the idea of selling territory rights to carry my brand once established. But the challenge of need comes up, and also entry. It’s not hard for someone to just take my clients and undercut me.
I have gotten ahead of myself and drawn up different plans of offering pseudo franchising in lieu of hiring or contracting help. Less risk if they go belly up I can keep all the clients they added. Also, if I’m using their appetite for gain to grown the overall territory, it’s win win.

I guess I could prevent getting undercut with a mean “no compete” clause built into the territory rights/lease.
 

Tourmaline

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Hmm find other value propositions to provide the landlords that cannot be so easily replaced. What else does this market tend to need along with needing trash taken care of?
 

tylerwilkinson

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Hmm find other value propositions to provide the landlords that cannot be so easily replaced. What else does this market tend to need along with needing trash taken care of?

I've definitely given it some thought. And I'm going to continue to give it some thought. I've got a paper list going now of services I've been asked about and what might cross over. Thank you for your feedback!

One of the best things I can offer is being clean, polite, and prompt. Doesn't matter to everybody, but I've found the better clients will happily pay more to someone they like.
 
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