Maybe it's time for a second career?

Mike991M4 · 09-26-2017, 03:18 PM

trades are awesome. I am an airline pilot, and have been for 20 years, 10 as a Naval Aviator before that. My passion is cars. I got into powdercoating as a hobby 15 years ago.

After 9/11, airlines were a tough business. In '04 my airline went bankrupt and I took a 33% paycut followed by a 15% paycut a year later.

I decided to turn my powdercoating hobby to a business hoping to make a few extra dollars. It turned into a business that took in 6 figures in revenue.

Turning 50, regaining lost wages at the airline and upgrading to captain made me decide to retire from that business, but the point is, do something you love and success will come if you are good at it.

baseCPM3 · 09-26-2017, 10:11 PM

I'm just going to throw in my two cents about career changes and taking risks.
I graduated from law school, but somewhere half way in, just knew I didn't want to be a lawyer. Invariably, I ended up doing something related to my degree, strategic sourcing in the oil and gas field. This is a mix of proposals/procurement and contracts negotiation. Two years in, I felt it wasn't going in the direction I wanted, so I called a recruiter and asked them to place me in a Fortune 50 company in any industry anywhere in the US and I'd do the rest. I spent about a year administering repair orders in the aerospace industry (entry level role, no law degree required). I learned the basics of the business unit in this role. Within 6 months I had visibility of business development and customer service at the company. Now, a year and a half in, I am in a managerial role and within the first 3 months, I've had the opportunity to travel to 5 US facilities, 2x UAE, France, Netherlands, Ireland. Next month I am going to China, Malaysia and Singapore. I review standard processes and try to create and implement new efficiencies. I also help with contracts interpretation and standardization. No day is the same, I succeed on my own merits. The pay is pretty good. To think, just over a year ago I walked away from something I had a background in to something completely unknown. Now I am also being considered for Expat assignments and management roles in contracts/legal.

So if you THINK a change may be warranted, take the risk. If you're going to something new and unknown, bust your ass to stand out and hopefully that will put you in a good position to succeed.

$iriu$black · 09-27-2017, 09:08 AM

I appreciate all the good responses here in this thread i started. Basecpm3, what you have gone through inspires me to do the same. I've always felt that my heart isn't in the healthcare field anymore and more inclined to start our own business. The only hurdle now is where to start. If there is anyone who can guide me or me tor me through here, pm me 👍🏼

The wife and i have thought about a business plan, basically some type of retail where it's like a small "sephora-type" store. She is really into it and really does the research on what's new and trending and is always in-the-know about things like that. Where we live there isn't one place that offers this aside from one "big box" store one town over. Would be nice to open a really small store and see how that opens up to more opportunities. Doesn't have to big. Wife's really into natural, sustainable products in that market. Is something like this as easy as applying for a small biz loan, looking for a place where to open and then procuring product/s by buying wholesale ? Can anyone guide me through this or show ke the way where to go?

$iriu$black · 03-26-2018, 10:55 AM

Reviving this old thread of mine.

Still in the process of brainstorming a business, but my biggest hurdle is learning the basics. I have tried some online business classes if you will, but felt like I am more of a face to face learner where I can really ask questions. I figured I'd learn more if I had a mentor that can be patient enough to teach me the ways.

For anyone living in Metrowest Mass, in the area of Milford-Wrentham, can anyone recommend a place (or person) that I can learn business from? I'm very willing to learn and will put in time and effort to better myself in the field of entrepreneurship. I just don't have many in my network and want to reach out and see what help/mentorship I can get. If only I was a student, I could have easily applied for an internship or something...

Thanks and looking forward to reading advice. This forum has been a great place not only for car-related learning, but also with things that really matter (to a certain extent of course).

kprocivic · 03-26-2018, 11:28 AM

First thing you should figure out what business you wanna do. Then, figure out if you still would want to do it for free for a few years. Finally, if you still wanna do it, business plan that shit and make it happen.

$iriu$black · 03-26-2018, 12:03 PM

Quote:

Originally Posted by kprocivic

First thing you should figure out what business you wanna do. Then, figure out if you still would want to do it for free for a few years. Finally, if you still wanna do it, business plan that shit and make it happen.

Thanks kprocivic, yeah, I think we have a good idea of what we want to do now since the last time I posted about it. Business planning is not my forte, and I just felt like it was too great of an effort, without the proper guidance, which is why I reached out here to see if I can get that, face to face or not. I just learn better that way. Thanks again.

MKSixer · 03-26-2018, 04:03 PM

Quote:

Originally Posted by $iriu$black

Thanks kprocivic, yeah, I think we have a good idea of what we want to do now since the last time I posted about it. Business planning is not my forte, and I just felt like it was too great of an effort, without the proper guidance, which is why I reached out here to see if I can get that, face to face or not. I just learn better that way. Thanks again.

Call your local Chamber of Commerce and seek out a mentor in your field. I have 4 mentors each with different experiences and approaches whom I speak with on a monthly basis.

Additionally, you need a firm yet flexible business plan. No one will discuss anything with you seriously without one. I started my own biotech just about 3 years ago and the journey has been the most difficult, yet most rewarding I've ever embarked upon.

Good luck-mk

$iriu$black · 03-26-2018, 04:55 PM

Quote:

Originally Posted by MKSixer

Call your local Chamber of Commerce and seek out a mentor in your field. I have 4 mentors each with different experiences and approaches whom I speak with on a monthly basis.

Additionally, you need a firm yet flexible business plan. No one will discuss anything with you seriously without one. I started my own biotech just about 3 years ago and the journey has been the most difficult, yet most rewarding I've ever embarked upon.

Good luck-mk

Thanks Mk! The business plan is always what I come across as the first thing to start with, so hopefully we can write one out, even if it's a rough draft. I got in touch with the local chamber of commerce and just waiting to hear back from them. Thanks for the advice.

yco · 03-26-2018, 06:10 PM

well im a designer, art director to be clear.. and i ve been working in advertising agencies and freelancing i guess not less than 6-7 years.. and i can tell you that i guess soon almost everyone can able to design a logo etc and as long as they re selling it they ll think they re really good.. prices are going lower and lower everyday and quality is going down also.. so in short.. if you think you ll be happy designing go for it.. but if you think you ll happy and earn nicely that possibility is getting smaller and smaller everyday you may like to consider..

Mingwan · 03-26-2018, 07:17 PM

What kind of design were you looking to do?

$iriu$black · 03-27-2018, 09:57 AM

^ No I'm not getting into design, I'm planning of getting into entrepreneurship/business at this point.

Habs11 · 03-29-2018, 01:18 PM

Quote:

Originally Posted by MrSmartyPants

You are correct on needing degrees for those roles. However, I know plenty of people in trades who do very well for themselves. Electricians, Roofing/Siding, Excavating/Landscaping, Painters. Guys who started their own businesses and make far more than $80k/yr. They are certainly doing better than I am in engineering. The key being that they took the risk and initiative to open their own business. The really smart ones took the earnings and invested in cash producing assets that then allow them to get out of the work-a-day world completely and indefinitely.

BINGO

I've been going through the career change for a few years trying to find a spot I want to spend at least decade in.

Few points others have mentioned: Most corporate careers you will need at least a 4 Yr degree. I've hired a lot of people in my career and I won't consider anyone without a 4 Yr degree.

Having said that: At my children's discretion I will encourage them to get a 4 Yr degree (or a trade degree) and have a couple paid or unpaid internships so they get a taste of corporate/trade life - at that point I'd like to see them get an entry level job with the goal of working for themselves within 5 years.

Question to the group: I'm half way thought my working years - does anyone else think at this point it's too late to take the risk of starting a company given I have children (and a wife) to support? That's how I feel - while I could last a year or so without income I just don't want to take the risk.

$iriu$black · 03-29-2018, 06:51 PM

^This is in a way where I am, just not (yet) the being able to afford not to work for a year part. Am an immigrant who started out my life here in 2010. I believe though that weighing out your options and pros/cons of venturing out on your own should be in order to determine if it's worth taking the big risk. That's my biggest dilemma, as well.

You know what they say, the bigger the risk, the greater the reward.

MrSmartyPants · 03-29-2018, 07:27 PM

Quote:

Originally Posted by Habs11

BINGO

I've been going through the career change for a few years trying to find a spot I want to spend at least decade in.

Few points others have mentioned: Most corporate careers you will need at least a 4 Yr degree. I've hired a lot of people in my career and I won't consider anyone without a 4 Yr degree.

Having said that: At my children's discretion I will encourage them to get a 4 Yr degree (or a trade degree) and have a couple paid or unpaid internships so they get a taste of corporate/trade life - at that point I'd like to see them get an entry level job with the goal of working for themselves within 5 years.

Question to the group: I'm half way thought my working years - does anyone else think at this point it's too late to take the risk of starting a company given I have children (and a wife) to support? That's how I feel - while I could last a year or so without income I just don't want to take the risk.

Do you have a significant other who also provides income and/or health insurance for the family?

For me that's a huge consideration. But I'm also too pussy to pull trigger and start something.

Habs11 · 04-02-2018, 11:58 AM

^No - all income & insurance is through me.

MrSmartyPants · 04-03-2018, 07:36 PM

Quote:

Originally Posted by Habs11

^No - all income & insurance is through me.

So you're in the same position as me.

Trying to enjoy myself as much as possible and live life. Maybe one day I'll try something on the side and see where it goes. Only shitty thing is I'm not interested at all in climbing or progressing at my current job (despite being prodded). I have no tolerance for corporate shenanigans chasing metrics or all the short term decisions based around shareholders.

Almost had a job at a small company with great pay, same philosophy as me, they were even cyclists and do lunch rides. Lived too far away and just didn't work out.

09-26-2017, 03:18 PM	#23
Mike991M4 Second Lieutenant 148 Rep 240 Posts Drives: 2017 M4 Join Date: May 2017 Location: Loganville, GA iTrader: (0)	trades are awesome. I am an airline pilot, and have been for 20 years, 10 as a Naval Aviator before that. My passion is cars. I got into powdercoating as a hobby 15 years ago. After 9/11, airlines were a tough business. In '04 my airline went bankrupt and I took a 33% paycut followed by a 15% paycut a year later. I decided to turn my powdercoating hobby to a business hoping to make a few extra dollars. It turned into a business that took in 6 figures in revenue. Turning 50, regaining lost wages at the airline and upgrading to captain made me decide to retire from that business, but the point is, do something you love and success will come if you are good at it. __________________ 1986 300ZX 2009 370Z Racecar 2013 991 C2S 2015 Cayenne Diesel 2017 M4 Competition
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09-26-2017, 10:11 PM	#24
baseCPM3 Private 37 Rep 61 Posts Drives: 2011 M3 Join Date: Nov 2016 Location: New England iTrader: (0)	I'm just going to throw in my two cents about career changes and taking risks. I graduated from law school, but somewhere half way in, just knew I didn't want to be a lawyer. Invariably, I ended up doing something related to my degree, strategic sourcing in the oil and gas field. This is a mix of proposals/procurement and contracts negotiation. Two years in, I felt it wasn't going in the direction I wanted, so I called a recruiter and asked them to place me in a Fortune 50 company in any industry anywhere in the US and I'd do the rest. I spent about a year administering repair orders in the aerospace industry (entry level role, no law degree required). I learned the basics of the business unit in this role. Within 6 months I had visibility of business development and customer service at the company. Now, a year and a half in, I am in a managerial role and within the first 3 months, I've had the opportunity to travel to 5 US facilities, 2x UAE, France, Netherlands, Ireland. Next month I am going to China, Malaysia and Singapore. I review standard processes and try to create and implement new efficiencies. I also help with contracts interpretation and standardization. No day is the same, I succeed on my own merits. The pay is pretty good. To think, just over a year ago I walked away from something I had a background in to something completely unknown. Now I am also being considered for Expat assignments and management roles in contracts/legal. So if you THINK a change may be warranted, take the risk. If you're going to something new and unknown, bust your ass to stand out and hopefully that will put you in a good position to succeed.
	Appreciate 0 Quote

09-27-2017, 09:08 AM	#25
$iriu$black Captain 247 Rep 618 Posts Drives: 2012 BMW 128 Join Date: Dec 2014 Location: NE iTrader: (5)	I appreciate all the good responses here in this thread i started. Basecpm3, what you have gone through inspires me to do the same. I've always felt that my heart isn't in the healthcare field anymore and more inclined to start our own business. The only hurdle now is where to start. If there is anyone who can guide me or me tor me through here, pm me 👍🏼 The wife and i have thought about a business plan, basically some type of retail where it's like a small "sephora-type" store. She is really into it and really does the research on what's new and trending and is always in-the-know about things like that. Where we live there isn't one place that offers this aside from one "big box" store one town over. Would be nice to open a really small store and see how that opens up to more opportunities. Doesn't have to big. Wife's really into natural, sustainable products in that market. Is something like this as easy as applying for a small biz loan, looking for a place where to open and then procuring product/s by buying wholesale ? Can anyone guide me through this or show ke the way where to go?
	Appreciate 0 Quote

03-26-2018, 10:55 AM	#26
$iriu$black Captain 247 Rep 618 Posts Drives: 2012 BMW 128 Join Date: Dec 2014 Location: NE iTrader: (5)	Reviving this old thread of mine. Still in the process of brainstorming a business, but my biggest hurdle is learning the basics. I have tried some online business classes if you will, but felt like I am more of a face to face learner where I can really ask questions. I figured I'd learn more if I had a mentor that can be patient enough to teach me the ways. For anyone living in Metrowest Mass, in the area of Milford-Wrentham, can anyone recommend a place (or person) that I can learn business from? I'm very willing to learn and will put in time and effort to better myself in the field of entrepreneurship. I just don't have many in my network and want to reach out and see what help/mentorship I can get. If only I was a student, I could have easily applied for an internship or something... Thanks and looking forward to reading advice. This forum has been a great place not only for car-related learning, but also with things that really matter (to a certain extent of course).
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03-26-2018, 11:28 AM	#27
kprocivic Lieutenant Colonel 814 Rep 1,575 Posts Drives: ecoboost s to the t Join Date: Apr 2014 Location: 92346 iTrader: (7)	First thing you should figure out what business you wanna do. Then, figure out if you still would want to do it for free for a few years. Finally, if you still wanna do it, business plan that shit and make it happen.
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03-26-2018, 06:10 PM	#31
yco i'm just saying 6019 Rep 2,634 Posts Drives: E71 X6M '10 (sold) Join Date: Jan 2018 Location: Istanbul & Kyiv iTrader: (0)	well im a designer, art director to be clear.. and i ve been working in advertising agencies and freelancing i guess not less than 6-7 years.. and i can tell you that i guess soon almost everyone can able to design a logo etc and as long as they re selling it they ll think they re really good.. prices are going lower and lower everyday and quality is going down also.. so in short.. if you think you ll be happy designing go for it.. but if you think you ll happy and earn nicely that possibility is getting smaller and smaller everyday you may like to consider..
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03-26-2018, 07:17 PM	#32
Mingwan Major 1890 Rep 1,340 Posts Drives: X1 Individual custom paint Join Date: Jan 2015 Location: Kansas iTrader: (0)	What kind of design were you looking to do?
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03-27-2018, 09:57 AM	#33
$iriu$black Captain 247 Rep 618 Posts Drives: 2012 BMW 128 Join Date: Dec 2014 Location: NE iTrader: (5)	^ No I'm not getting into design, I'm planning of getting into entrepreneurship/business at this point.
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03-29-2018, 06:51 PM	#35
$iriu$black Captain 247 Rep 618 Posts Drives: 2012 BMW 128 Join Date: Dec 2014 Location: NE iTrader: (5)	^This is in a way where I am, just not (yet) the being able to afford not to work for a year part. Am an immigrant who started out my life here in 2010. I believe though that weighing out your options and pros/cons of venturing out on your own should be in order to determine if it's worth taking the big risk. That's my biggest dilemma, as well. You know what they say, the bigger the risk, the greater the reward.
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04-02-2018, 11:58 AM	#37
Habs11 Private First Class 162 Rep 181 Posts Drives: 2015 X5 35i Join Date: May 2017 Location: Rochester, NY iTrader: (0)	^No - all income & insurance is through me.
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