I hated school. The last thing I wanted to do was to add 4 or more years to my schooling after high school graduation. I decided to go right into the workplace after high school. I took a temporary job the first year, but then I was made 2 great offers on the same day to start as a computer tech/IT guy - one offer from a local rural startup, and one from a big time corporation in Philadelphia. I chose the corporate job in Philadelphia.
I kept this job 9 years, finding ways to apply my entrepreneurial vision and skills to the internal IT department at this company. I revamped their entire technical support team and implemented a streamlined help desk and deskside support process. I even helped to spear-head a training program that enabled factory employees who showed potential and problem solving skills to learn how to become IT tech support people. We were able to promote and train 10 people from the factory environment while I was there into becoming IT gurus. It was a fun time, and I gained a wealth of business knowledge, leadership, management, and IT skills while I was there. Turned out toward the end that I was the youngest person to ever receive the Presidential Citation Award for innovating cost saving and company changing processes. This was the launching pad for the rest of my life... However, it was only a start, because once I ran out of room to create and innovate, I ended up in "maintenance" mode as a manager and leader, and reached a "ceiling". The entrepreneur inside wasn't happy...
Are you an entrepreneur stuck inside a corporate situation or a job right now? I want to hear from you! Post a comment/reply.
Tuesday, April 21, 2009
Saturday, April 18, 2009
Small Salary in High Living Expense Area
How do people survive on small salaries in high living expense areas? It became obvious to me over the past few days that we just can't afford to live in the small 3 bedroom, 1 bath, 1200sq ft house we live in. at $1400 rent, $150 electric, $300 oil, total housing expenses come out over $1850/month. On a $3000/month after tax salary, this doesn't leave enough for food, vehicle fuel, phone, internet, tv, clothing, kids' allowances, being able to take vacations/day trips, saving, healthcare, birthday/christmas gifts, and the ability to afford a vehicle and insurance.
I started researching lower cost rentals in this area last night, and to get total housing expenses under $1300 you'd have to be in a 1 or 2 bedroom 600-800 sq ft apartment, usually outdated, in a poorly kept neighborhood. The only way to get something decent and worthy of raising a family of 4 with a cat and dog, would be to move out of the area completely. I took one area for example - North Carolina and found fantastic beautiful singles and townhomes around $900 - $1000, and with lower utilities total housing expenses easily come in under $1300.
If you are reading, what area do you live in? and what are the total housing expenses for a moderate size single or townhouse along with electric and oil/gas (if applicable)? I'm really curious as to what else is out there. Click comment/reply now!
I started researching lower cost rentals in this area last night, and to get total housing expenses under $1300 you'd have to be in a 1 or 2 bedroom 600-800 sq ft apartment, usually outdated, in a poorly kept neighborhood. The only way to get something decent and worthy of raising a family of 4 with a cat and dog, would be to move out of the area completely. I took one area for example - North Carolina and found fantastic beautiful singles and townhomes around $900 - $1000, and with lower utilities total housing expenses easily come in under $1300.
If you are reading, what area do you live in? and what are the total housing expenses for a moderate size single or townhouse along with electric and oil/gas (if applicable)? I'm really curious as to what else is out there. Click comment/reply now!
Friday, April 17, 2009
The Entrepreneurial Spirit
As a pre-schooler, my favorite things to play involved a store of some sort, play-cash transactions, etc. I watched my daddy run his local TV/electronics retail and service business and grew up wanting to be just like him. I wanted to have a store - real products, real customers, and real entrepeneurship. It was engrained in me, and lived in my blood. I could never hide from the calling to start my own business.
In Junior High School, I started 2 businesses - I rented out my extensive Nintendo game collection to friends, and a bought/sold/traded sports cards. I tended to take my hobbies and interests and try to turn them into businesses. These businesses funded my needs as a teenager above and beyond my small weekly allowance. When I met my wife at the age of 19, while we were dating, we started a beanie baby business, since they were hot at the time and it was something we had fun doing together. We used this business to eventually fund our wedding in our young 20s.
Entrepreneurship is something that lives inside the heart. It's always there. It always was there. It will never leave. I believe that God instills this type of dream in the heart of each entrepreneur. This is where it all started for me... and your story as an entrepreneur I am sure is probably similar. Whether you've acted on it professionally or not, many of you have it in your blood and instilled in your heart. Stay tuned for how this pull and drive toward entrepreneurship drove me to the point that I am right now... flat broke.
In Junior High School, I started 2 businesses - I rented out my extensive Nintendo game collection to friends, and a bought/sold/traded sports cards. I tended to take my hobbies and interests and try to turn them into businesses. These businesses funded my needs as a teenager above and beyond my small weekly allowance. When I met my wife at the age of 19, while we were dating, we started a beanie baby business, since they were hot at the time and it was something we had fun doing together. We used this business to eventually fund our wedding in our young 20s.
Entrepreneurship is something that lives inside the heart. It's always there. It always was there. It will never leave. I believe that God instills this type of dream in the heart of each entrepreneur. This is where it all started for me... and your story as an entrepreneur I am sure is probably similar. Whether you've acted on it professionally or not, many of you have it in your blood and instilled in your heart. Stay tuned for how this pull and drive toward entrepreneurship drove me to the point that I am right now... flat broke.
Pay Day
I made it to pay day. At my current position, I am considered a partner for an internet marketing firm. I receive a base salary and 10% of total company profits each month. Unfortunately, we haven't hit a profitable month since I started. I started in January 2009. Profit is something that takes time, especially when I am entering into a company that was in a downward spiral before I joined. Its now on an upswing and I'm helping to revive the company, restore it's profitability, and drive it to new heights, but for now, no bonus checks for me.
So, at the end of the day, I'll end up with a bi-weekly paycheck of $1700. Keep in mind, this is what a family of 4 has to live on now for 2 weeks, in a fairly expensive, high cost of living area (wealthy Philadelphia north-west suburbs). Average salary in this area is $85,000, so I am at about half of the area average. I expect to be earning bonuses shortly, but for now, I'm flat broke and hovering just over the poverty line.
Once I pay the rent that's 17 days past due today, I'll have $300 left in my pocket to put fuel in the car that we are borrowing from my parents, and to feed the family for the next 14 days. I figure on about $50 for fuel for the 2 weeks (so I can get to work and get around town for the week), so that should leave us with $17 per day for food. Oh, and I know the rent I'm paying sounds expensive, but that gets us a small 3 bedroom 1200 sq. ft house on a busy highway with a nice yard out back. Nothing special, and certainly below average. That's just what's available in this area. To find something $1000 or less for rent in this area means living in a very bad neighborhood, increasing my commute to work big time, or downsizing to a 1 or 2 bedroom apartment that's 800 sq. ft or less. For a family of 4, those are some difficult options.
Pay day is supposed to be a fun day. For me, it's depressing. I hope you all have a better pay day than me!
So, at the end of the day, I'll end up with a bi-weekly paycheck of $1700. Keep in mind, this is what a family of 4 has to live on now for 2 weeks, in a fairly expensive, high cost of living area (wealthy Philadelphia north-west suburbs). Average salary in this area is $85,000, so I am at about half of the area average. I expect to be earning bonuses shortly, but for now, I'm flat broke and hovering just over the poverty line.
Once I pay the rent that's 17 days past due today, I'll have $300 left in my pocket to put fuel in the car that we are borrowing from my parents, and to feed the family for the next 14 days. I figure on about $50 for fuel for the 2 weeks (so I can get to work and get around town for the week), so that should leave us with $17 per day for food. Oh, and I know the rent I'm paying sounds expensive, but that gets us a small 3 bedroom 1200 sq. ft house on a busy highway with a nice yard out back. Nothing special, and certainly below average. That's just what's available in this area. To find something $1000 or less for rent in this area means living in a very bad neighborhood, increasing my commute to work big time, or downsizing to a 1 or 2 bedroom apartment that's 800 sq. ft or less. For a family of 4, those are some difficult options.
Pay day is supposed to be a fun day. For me, it's depressing. I hope you all have a better pay day than me!
Thursday, April 16, 2009
Humble Beginnings
It's April 16, 2009 - the first day of my blog. I have exactly $1.97 in my pocket, and no lunch at work today. The lack of lunch has actually driven me to start this. Well, actually, a lot of events led to this point, but we'll cover that later.
I have -$200 (that's right, negative) in my bank account, I owe somewhere around $15k-$20k to various debtors including a hospital bill for my son (7 years old). I've sacrificed it all for my dream - my house, my cars, all material possessions. My family of 4 is what I have and they are a true blessing and joy.
I'll post here daily and tell my story. You'll hear about my successes and failures in entreprenuerialism and marketing... You'll hear about what I'm doing day to day to get out of this financial collapse, and hopefully you'll share in a great story of success. We can journey together as I try to figure this all out, and rise above the vast ocean of problems in front of me right now.
I have -$200 (that's right, negative) in my bank account, I owe somewhere around $15k-$20k to various debtors including a hospital bill for my son (7 years old). I've sacrificed it all for my dream - my house, my cars, all material possessions. My family of 4 is what I have and they are a true blessing and joy.
I'll post here daily and tell my story. You'll hear about my successes and failures in entreprenuerialism and marketing... You'll hear about what I'm doing day to day to get out of this financial collapse, and hopefully you'll share in a great story of success. We can journey together as I try to figure this all out, and rise above the vast ocean of problems in front of me right now.
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