To own a small business, to be self-employed, or to create an LLC. This are all phrases that have rolled through my mind in the last year. For very good reasons, I’m currently going through the trials and tribulations of being self-employed. While many people are becoming online stars or workers. My work is in the physical form. I deliver bread and merchandise it in retail stores around the metro area. While many huge corporations employ many of us I am still happy to see entrepreneurs doing their thing. Many entrepreneurs flourish online. I am currently taking a class at Metropolitan State that has me thinking about the online world. This class is motivating me to create more of an online presence for my company, Twain Transfer.
It was very easy to create my LLC and get my company name in the books with the state of Minnesota. The state just sent me a letter reminding me I had to pay my annual fee to keep my business current. As a delivery driver I do not have my own truck yet. I have not had the need for one because I use the independent operators’ vehicle. I found they don’t want to pay a premium for me to use my own vehicle. My progression as a small business stops without this purchase. To continue my growth I need to drive my own truck so I can find work all over the Twin Cities.
Some of the things I like about being self-employed is the schedule. I wanted a week off this summer and I picked my dates and decided not to schedule anybody those days. Some people really get excited about the idea of vacation time. I don’t rate vacation time high on my priority scale when evaluating a job. I feel if you have to request a vacation there will always be somebody with seniority,that may take priority. What if you want more time off than your vacation time says you have available? That is usually a problem and companies handle it differently. I am very content with the notation if I am not working, I am not making money. I don’t have to get my vacation approved from anybody. Which leads into not having a boss. Not having to check in with somebody else before I make a decision is priceless in my mind.
There are things I don’t like about being self-employed, if I don’t have work I can’t make money, it’s a double edged sword. Since the beginning of 2016 I have had almost 8 weeks where I did not have any work scheduled. Thank goodness I could still pay my bills and a special thank you to my wife for being patient while I chase my dreams of being an entrepreneur. There is also paperwork and direct customer relations that are very important but yet not very entertaining to do. Finances are another obstacle to tackle when having your own LLC. If you are not sound with your money practices it could get you in trouble at the end of the year. One should pay their taxes quarterly or be able to save for the end of the year.
I am getting my degree at Metro State so in the future I can get a job where I am using my brain more than my back. Will this change my status away from being self-employed? I don’t know, but I am currently looking for jobs while in school. I am selective of which ones to apply for because I know being an employee will be a lifestyle change again.