Does Anyone Else Feel This Way?

[sapphirescales]

Maybe the pandemic just has me down, but I've been a little depressed lately. I'm getting low on my stock of HP Probook 650 G2's/G3's (6th gen i5) so I called up one of my main suppliers. $400 for an A grade. I was paying about $200 to $225 depending on specs before the pandemic. Add a 500GB SSD and I'll be paying in excess of $450 for a 4 year old refurbished laptop. Looks like I'm going to be going through my bone pile after all and fixing old home class laptops to resell.

I've been through tough times before. My first shop (which I operated between *2003 and 2007) was in a bad area full of cheapwads and I barely got by. The 2008 crisis had me selling desktops on Craigslist for $150 or less. In the hard drive shortage of 2011 I was selling used hard drives with more than 50,000 hours on them. Now it looks like I'm going to be fixing and selling POS home class laptops using parts sourced on eBay. *Sigh* I don't ever remember things actually being good in my life. It's just been one ball of crap after another and having to roll with the punches as best I can.

Despite being a legitimate business owner, I feel like I've had to hustle all my life just to get by. Even though I've got a lot of employees and a big shop now, I still don't feel secure from the craziness of this world. I just want security and stability, but I guess I should have went into another industry if I wanted that. Stuff just changes so fast. Combine that with the financial turmoil of these past few decades and I really don't feel like I have security.

I mean, I know I shouldn't complain. I make a good living and have access to a ton of financing, but it just feels like it's always two steps forward, one step back, you know? And then when you've got a good 50 steps forward after taking 100 steps, the economy comes and wipes out 40 out of those 50 steps you've managed to take and then it's just one step forward, one step back and you end up spinning your wheels and not moving forward for years.

What I'm saying is, this is getting really old. I'm not even 30 yet and I'm already just so sick of it all. I feel like people in the past just had it better stability-wise, you know? Maybe I'm just a whiner but I just don't feel that things should be like this. Anyway, thanks for listening guys. Nobody in my life really understands what it's like to run a computer business other than my employees, and I don't want to dump this on them or make them any more worried than they already are.

*I should note that I was fixing computers before 2003, but I didn't have an actual shop/storefront. I worked from home. I opened my first shop in 2003 when I was 12, but I actually started fixing them for profit when I was 7 (using knowledge I gained from books and tinkering on old computers between the ages of 5 and 6). I've been doing this crap for so long I don't even remember life "before" computers because there was no "before" for me. I'm just so freaking tired...

 

[Diggs]

I was paying about $200 to $225 depending on specs before the pandemic. Add a 500GB SSD and I'll be paying in excess of $450 for a 4 year old refurbished laptop. Looks like I'm going to be going through my bone pile after all and fixing old home class laptops to resell.

I made the same observation here - https://www.technibble.com/forums/t...-has-used-hardware-pricing-gone-way-up.85608/

Tired of business? I guess it's a matter of perspective. I came out of school with an MBA and went right into corporate life. Nice and secure. Good income, savings, benefits, etc., but high-stress and depressing at times. For the last how many years of my corporate life I had 30+ (38 at peak) direct reports (employees reporting directly to me as their supervisor) that I was responsible for. It wasn't just them as they were the bread-winners in the household so I also knew and felt responsible for their spouses and families.

Compared to today where it is just me. No corporate reports and budgets, no all-day meetings, no quarterly speeches to 250 people, no employee reviews or HR crap. I don't have to take a job if I don't want it and I schedule at my pace as I don't have a store front and everything is by appointment only. Yes, corporate life gave me the financial security I have today but I've never been happier with work than I am as an LLC. I'm enjoying the people and on-site visits way more than I ever thought I would.

I don't have great words of wisdom for you @sapphirescales . I'm sure you realize by now it's not all about the money. You need to try and figure out what makes you happy and those things you enjoy and focus on them. Get the things out of your life that don't. Figuring out the difference isn't always so easy.

 

[River Valley Computer]

I'm speaking from YEARS of experience. I really feel the problem with the whole world is the feeling of entitlement - now-a-days everyone thinks they are owed something. For many years now parents have handed it to their kids, government hands it to anyone who doesn't work, etc. It is also due to greed. Companies make $XXX but they want to make $XXXXX so they can pay their CEOs, etc. ridiculously outrageous salaries. Look at what sports people make - ridiculous, but we will pay $200 for a ticket. The same with entertainers.

I started working when I was 14 delivering newspapers. From that point on I have NEVER been without a job. Some paid good, some didn't, but I didn't ask anyone for help or a handout. I worked many small jobs, then I entered the Air Force for 4 years to defend a country I love. I owned two retail computer stores in the late 80s while I was working at some utility companies. I even designed and sold a PC board to add to Radio Shack computers to increase the RAM to 16KB. I've worked for large corporations making large salaries but not like they are now. My last corporate position was the Director of Engineering for a very large and 'imfamous' company called Enron. That is a perfect example of what I am talking about - GREED shut us down. I had a 401K worth over $970,000. After all was said and done, I walked away with $20,000 and one years severance package. I still had my life and family though. Money isn't everything.

I now own two small computer repair centers in Arkansas and Iowa since 2008. We have not raised our rates for years. It is basically therapy for me but I provide my employees with good salaries. The people that are our customers are mostly struggling and why should we bleed them for our own greed.

I am an Electrical Engineer and I guess electronics is in my blood. That is why I don't feel this a work - it is something I enjoy. If you are in it to make money, get out now. I have had the fortune to know quite well two quite wealthy men - Warren Buffet and Bill Gates. My wife and I went to Nebraska football games with them in the 80s and 90s. While still friends of mine, I do not agree with the greed that seems to have taken them over too.

Sorry to go one this rant for so long but bottom line - IF YOU ARE IN IT FOR THE MONEY GET OUT!!!!

By the way I might mention I am 75 years old and still enjoy going to work every day. The customers are what keep me going - not the money I can make off of them.

 

[River Valley Computer]

I made the same observation here - https://www.technibble.com/forums/t...-has-used-hardware-pricing-gone-way-up.85608/

Tired of business? I guess it's a matter of perspective. I came out of school with an MBA and went right into corporate life. Nice and secure. Good income, savings, benefits, etc., but high-stress and depressing at times. For the last how many years of my corporate life I had 30+ (38 at peak) direct reports (employees reporting directly to me as their supervisor) that I was responsible for. It wasn't just them as they were the bread-winners in the household so I also knew and felt responsible for their spouses and families.

Compared to today where it is just me. No corporate reports and budgets, no all-day meetings, no quarterly speeches to 250 people, no employee reviews or HR crap. I don't have to take a job if I don't want it and I schedule at my pace as I don't have a store front and everything is by appointment only. Yes, corporate life gave me the financial security I have today but I've never been happier with work than I am as an LLC. I'm enjoying the people and on-site visits way more than I ever thought I would.

I don't have great words of wisdom for you @sapphirescales . I'm sure you realize by now it's not all about the money. You need to try and figure out what makes you happy and those things you enjoy and focus on them. Get the things out of your life that don't. Figuring out the difference isn't always so easy.

Diggs - I believe our lives parallel. Well said.

 

[YeOldeStonecat]

It's a different feel these days. I was born 'n raised to "work for it". Parents encouraged me to work early. Did jobs around the neighborhood...mowing lawns, shoveling snow, washing/waxing cars. Then got a paper route...on the bicycle...did that for a few years into high school..all year round, New England winters, all seasons, all weather. Turned 15 and got my first summer job washing dishes....back when minimum wage was barely around 3 bucks an hour. Been working every year since then...full time in summer...and weekends during school and even week days after school..and full time since out of school.

I grew up where your dad and all your neighbors worked at 1x place for his whole career...with a nice true retirement (pension) package. Health insurance covered everything. Come home at 5 pm and left work behind.
Some moms would work part time.

These days....that's no longer the case. And you sorta help fund your "IRA". And insurance is crazy...and barely covers much. And people change jobs all the time. And when you get home...you still work. And still check in on weekends. And both parents work.

I feel the burnout....I'm in my mid 50's...and have been working in the IT world since....oh....1994 I think was my first IT job. Although I dabbled in some schooling in it before that. (I can recall punch cards for Fortran/Watfive..and I took BASIC in high school).

I miss the ease of the early days of the IT career. Now with all this compliance stuff, ransomware, and "need it need it need it running all the time...if it's broke..need it fixed NOW" world...it's stressful.

On a flip note, I can be thankful that our industry remained strong throughout this new COVID world. Our March was a record breaking month...and we've been quite strong since then. Our end of year will still come out strong, probably pretty much match last year, if not be a little stronger. Our clients still need us...and we still have "most" of our clients, I can't use all fingers of one hand trying to count clients that closed from COVID. So I'm thankful to be in an industry where we're still employed and busy.

My wife, being a Realtor, the first half of the year was very slow. But come late July..and into mid August....BAM....she started getting slammed. The Real Estate market is going crazy. She'll put up a listing and within hours it will have many showing requests and within 24 hours multiple offers will be coming in..resulting in bidding wars, final and best, and a sold price above original ask. For her buyer clients...they have to move quickly or lose out. So we're thankful she's able to keep making money. We're thankful we're both able to take home bank each week. With my work ethic, I can't see myself being unemployed.

It is weird dealing with a daily life of "uncertainty"...and I'm sure a lot of people are struggling with that. For the past decade...I'm on what I'll call is the "3rd reboot of my life". Basically wiped much of my slate clean about 13 years ago (financially)...after my 2nd divorce, starting things over. Tough starting over with barely a few pennies in your pocket in your early 40's...and here I am about at double nickle...starting to look at what things might be like money wise when I'm in my mid 60's. Last year, with the economy being so strong for quite a few years in a row, I was feeling pretty good about it. Simple IRA in some good stocks and I had hope of accumulating something after another 10 years of work. But when COVID hit...and a 25% or whatever crash of my tiny little 401.....I'm starting to feel uneasy. Can already see uncertainty in the marking as we approach an election (typical of election years..but more so this year). I'm scared as heck for the market and business overall over the next year...after enjoying such a strong run. Guess I'll be working well into my wheelchair or walking cane days.

Certain circumstances of my early life had me working hard...but playing hard, spending my money. Not saving. Here I am at this age...envying people were smart...and starting saving money or contributing strong to IRAs at an early age...and are able to retire in mid 50's or even early 60's. I guess that's one of my regrets in life. I don't have many regrets...but there are a couple.

 

[alexsmith2709]

I agree that there always seems to be an obstacle. A few weeks before the UK went in to lockdown i finally thought i was making it and was starting to get comfortable and even employed my 3rd person, then this crap happened.
Costs have gone up, profit margins have decreased and there are less people shopping. Without the print cartridge refilling side of my business i would not survive, there are some big profit margins on those products, but overall my margins are pretty small. I have a high street shop so a big chunk of my money goes on rent.

Its tough, especially when customers come in moaning about the prices, some of my price have remained the same for over 10 years (i took over an existing shop and bought the assets from the previous company) and then when i put them up by £1 (putting some of my cheaper cartridges i sell at £8 when an OEM is around £20) everyone notices and complains. It does get me down.

Selling technology is never going to be a big money maker unless you've got the volume. I too do this for many of my customers, some customers not so much!

I dont regret starting a business, even when i was working for other people, it wasnt really like working for other people, i've always had the freedom to get on with things in a way i want to do them and not have someone breathing down my neck all the time. Im not sure i could actually go into proper employment again, definitely not an office.

 

[britechguy]

Despite being a legitimate business owner, I feel like I've had to hustle all my life just to get by. Even though I've got a lot of employees and a big shop now, I still don't feel secure from the craziness of this world. I just want security and stability, but I guess I should have went into another industry if I wanted that. Stuff just changes so fast. Combine that with the financial turmoil of these past few decades and I really don't feel like I have security.
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What I'm saying is, this is getting really old. I'm not even 30 yet and I'm already just so sick of it all. I feel like people in the past just had it better stability-wise, you know?

First, none of the following should be taken as a personal attack of any sort, but just observations on a number of things from someone double your age.

Being a small business owner means, by definition, constant "hustling" if you want to make a real go of it rather than it being "a side gig." My business is "a side gig" at this stage of life, so I hustle pretty much not at all. It was not always that way. It also means that you will never have "security and stability" similar to that of an employee of a huge company.

By definition, in the computing industry, any part of it, "stuff changes fast, very fast," and that's just a part of the package deal. The funny thing, though, is that there is an awful lot of stuff that gets passed off as some sort of revolution that's really nothing more than a variation on a longstanding theme. I have learned that the old saw, "The more things change, the more they stay the same," ["Plus ça change, plus c'est la même chose," in the more elegant and original French] is true far more often than not when it comes to the hype that goes with this business.

If you're not even 30 years old and saying, "I'm already just so sick of it all," that's a big, honkin' red flag that you need to make a change in your life. No job, business, partner, anything is worth making yourself soul-sick over. I ditched my IT career at age 35 and went back to graduate school for a master's in speech and language pathology, and worked in that field for about 10 years afterward, before focusing on assistive technology (mainly blindness and low-vision related) and working in that area. None have been a utopia, but each one of those steps away from the past was in no way a mistake. I've never looked back because I was feeling soul-sick by the time I made the decision to move on, at least early on, and one of the biggest lessons I've learned is that it's a huge mistake to wait until you "just can't stand it anymore," literally, before making a change. It makes actually making that change much more difficult because you're completely worn down and often depressed when you finally decide you must move on.

And I do think you're right about people at various points in the past having it much better stability-wise. Not in all the past, but certainly the post-war period through the mid-1970s were pretty much an upward ride for everyone. But what goes up very often comes down. I lucked out in having launched my career in the go-go 1980s, but it was just that, dumb luck. I had no power over when I was born nor the economic conditions that prevailed in my chosen field at the time, but I did choose something that was becoming hot-hot-hot and had job security. It was only after 10 years of doing it that I learned that security was in no way enough, and no substitute for having some sort of life where I felt I had a more substantial degree of control and where I did not dread each and every day that was coming my way.

As a very wise nurse once said to me, "Just remember, there are always other options."

 

[bdoggman]

My passive income far exceeds my computer business income. I have a shop but I’m very lazy on what work I do. If it’s not a nuke and pave or Ssd upgrade I send them somewhere else. I bought land out in the country years back and built some quad plexes and rent those out. My point is get some kind of rental income. You don’t have to pay taxes on rental income. Then you won’t stress about solely on your computer business. Your working for your money right now but make your money work for you instead.

 

[Computer Bloke]

You don’t have to pay taxes on rental income.

Huh? Do you live in Galt's Gulch or just have a really flexible accountant?

 

[bdoggman]

Huh? Do you live in Galt's Gulch or just have a really flexible accountant?

t’s pretty simple actually. It’s the same method the president uses and most rich people. It’s not considered income but an investment. Last year I showed no income at all. This year I might even take a loss when I file.

 

[Computer Bloke]

It’s the same method the president uses

 

[glennd]

Sounds like what we used to call 'negative gearing' or something in Australia. The theory is you buy an "investment property" and do some creative but approved accounting to claim expenses against property income to make it look like it's running at a loss. This loss can then be used to offset your primary income and hence pay less income tax. ... or something, I never understood the finer points. I'm not sure it's still a thing here.

 

[marley1]

Sounds like you are also residential.
That will kill you.

I have had no slowdown, no inventory issues and best year to date.

 

[Computer Bloke]

Sounds like what we used to call 'negative gearing' or something in Australia.

So it's a technique for turning income into a long-term capital gain and not a legal method of avoiding tax altogether? That used to be a popular trick here in NZ too, but legislation has been tightened up a bit in the past few years with much closer attention being made to the actual deductible expenses and now for many people it's no longer an attractive choice.

In New Zealand you generally can't offset losses made from investment properties against personal income from other sources, and I suspect that you can't in wherever @bdoggman lives either.

But please don't take legal or financial advice from me, or your President. Neither of us is qualified.

 

[sapphirescales]

Thanks for the input guys. I think I know what I want to do, I just don't know how to do it. I've been working from home for the past 6 months or so now and it's worked surprisingly well, but managing my business and my employees is difficult when I no longer really have a storefront (I technically still have the building, but it's not open to the public). My inventory has been dwindling and I haven't been buying more because I think I want to downsize. Managing employees really sucks and I really don't need the storefront anymore, so I think I'm going to just work from home from now on. The problem is, I have far too many clients to be able to take care of on my own. My personal budget is about $8,000/month including all my personal expenses. Assuming I can manage a 70% gross profit margin, I need to make roughly double that to break even after taxes. I average about $1,000/day right now working from home, so that should be more than plenty. I can also work to lower my expenses.

I never got into this for the money, but that's what it's become now. I don't enjoy working on computers anymore because it's more about the money than the work. I suppose I could give the business over to my employees and start my own business just from home. I already have a separate home based business with its own website and everything. It currently doesn't make much because I'm more focused on my main business but I can take whatever clients I want from my current business and either sell off my main business or hand it over to my manager in exchange for a percentage of sales going forward. I really don't want to destroy the little empire I've created, but managing that empire is ruining my physical and mental health. I don't want to screw over my employees either or my loyal clients. I've always expanded my business. I've never tried to reduce my business before. I mean, I guess I can raise prices, but I have so many clients that in order to get rid of as many clients as I need to get rid of, I'd have to charge like double. LOL. I wonder how clients would react if my average ticket increased to $1,000 instead of the ~$500 it currently is. They'd probably still pay it, I swear. *Shakes head incredulously*

 

[callthatgirl]

Sounds like you're just bored. I go through that every blue moon. I'm there now in fact. It's slow and I hate it when it's slow. My brain slows down and I don't want to do anything. I can't get inspired and any new project ideas just get deleted off my business and marketing plan. I'm financially up 18k from last year so it's not the money. I could lower my rates and I'd book more appointments but raising my rates awhile proved what others have told me...raise your rates, work less and make more. I'm there. Just bored. So for 2 months I decided to focus on my health and after Thanksgiving, I'll be working on some new adventures. I don't want to start them now when I'm in this funk time.

As others have said, it's maybe time to move into more business clients. You are in a great place to do that btw. I do both res and biz clients and turning res to biz is not that hard. Also pickup MS365, I move res to biz 365 all the time. Many of my res clients are running businesses off yahoo or some other freebie account. It's a great way to start moving to another level.

 

[Philippe]

I don't enjoy working on computers anymore

I'm enjoying it a lot less now, due to the fact I really hate what this industry has become... But I'm still enjoying helping * people * out...

managing that empire is ruining my physical and mental health

Maybe you can hire someone to manage it for you? Managing the manager is a lot easier...

 

[FrankiePC]

Sounds like you are also residential.
That will kill you.

I have had no slowdown, no inventory issues and best year to date.

Same here. COVID has helped my business. Can't keep laptops in stock. Service calls galore for at home student and work setup. Wifi enhancements because people are home, printers, dual monitors, etc.. Now some schools are opening and its even busier now. June & July are usually my slowest 2 months and they were my best.