Posted: Mar 16th 2010, 12:44 PM
Good points
MM. But I think that you believe my expectations are higher than they are.
First of all, I'm in no way even considering walking away from my job. That would be insane. Anyone with a job these days should hang on to what they got. And in my case, I have too much seniority and other benefits to give it up voluntarily. But I'm trying to deal with the real threat that my job may walk away from me.
I'm not fooled into thinking that I'll complete this training and the next day open a gunsmith shop and start raking in a six figure income. I don't have any plans to open a shop at all. First of all, opening any kind of formal store front business is risky. Any business. Not just guns. Opening a formal business requires a substantial investment in time and money. Frequently requiring you to assume substantial debt, unless you have barrels of cash just laying around. If you do that and it fails, you are in a world of hurt. According to the small business admin more than 70% of new small business fail within the first year, and their owners end up in bankruptcy.
My plan is to start small, out of my home. Doing side jobs. And not as a full scale machine shop business. Just the routine fix broken guns, minor enhancements, trigger jobs, stuff like that. Minimal expenses. I've checked, and basic liability insurance would run me about $100 a month. I'm talking about insurance to cover what happens if I fix a gun wrong and some guy blows his fingers off. I fully expect that it'll be a year before I'd actually earn dollar one, if then. But if I do those side jobs, and do them well, I will gain the most important thing in any business...reputation. Get that, and the business will start to come. If and when that happens, I'll take it to the next level. Only time will tell.
What I'm planning for here is the worst case scenario. I hope. I pray, that I don't lose my job. I'll do everything in my power to hold onto it. But a lady who I work with on a regular basis got a layoff notice a few weeks back. She's been there 27 years and is less than a year from retirement. I can't just wait and see if that happens to me. That will be too late. I have to do SOMETHING. This is just one of several options I'm exploring. If nothing else, it might just bring in a few bucks here and there, enough to keep me on minimum life support until I find other work. If it doesn't work out, I'll be no worse off.
As you say 'then there's reality'. Reality is what I'm dealing with here. Reality dictates that if the worst happens, as has happened to so many other's these days, then you have two courses of action. You can give up and go under. Or you can pull out all the stops, turn over all the stones, explore all options, and do the best you can with what you have. I may be making a mistake. But the only plan of action with a 100% guaranteed failure rate is to do nothing.