Apprehensive about change

[Quartzee]

Hey guys, I'm seriously considering a job change to persue woodworking.  I have a good job as a programmer but I mostly dread going to work and spend most of my time planning projects.  My wife is supportive and has a really good job but we would lose our second income for me to persue it.  We don't have any kids yet and we're both in our late 20's so this is pretty much the only time before retirement that will be right.

 

I have an etsy store and sell cutting boards and boxes on there as well as to friends and family but I also build small furniture/boxes/benches and other stuff for us.  I've never really worked in cabinetry at all so I do not know if I should be looking for more experience there before trying anything.

 

Long story short, my passion and drive is in building with wood and it's really starting to creep into my every day life.  Is there anything I should know before considering this jump?

[G S Haydon]

Not wanting to point out the obvious but it's a real big step. Make sure you and your partner are fully signed up. Could you get a part time contract at work?

[Tpt life]

This is non-woodworking specific but is my experience. When changing careers midstream, do not count on abandoning programming. I kind of flip flipped my primary for my secondary for awhile until my second career took off. Burn no bridges so you can supplement a crappy entry wage with some original career side work.

[Quartzee]

Haydon, thank you so much for the idea!  I hadn't really considered trying to go down to part-time on a contract basis but it makes perfect sense.

[Godet]

I'm in a similiar situation...probably flipped the switch mentally about 2 years ago.  6 months ago, I reduced my full-time work schedule to 4 days/week with flexibility...we set some serious financial goals (saving, mortgage pay down, shop improvements, etc.) to make the landing as soft as possible (this is a big leap)...current road map is to be full time in about 18 months.

Also, I have some experience working for customers (local and via etsy) that I know this is a job too...there are annoying customers, different frustrations than your day job, etc.  In the end, they call it work and pay you for a reason...make sure you're OK leaving your known frustrations for the unknown ones.

 

The other obstacles I've had to overcome:

- Getting registered as a legit business...lots of paperwork and negotiations (make sure using power tools, and different finishes is OK with your neighborhood/city ordinances, etc.).

 

-Homeowners/renters insurance...many companies will not insure you if you have a home based business--I ended up with Travelers, which does.

 

-Try to spend a day/few hours with a professional woodworker and see how fast and efficient they work...Or just watch a real master in a video...I realized that I have a long way to go in terms of building skills/speed/knowledge before I could adequately make living that I slowed my roll considerably.

 

Good luck!

[bushwacked]

Been thinking the same too but I agree with others ... Don't burn bridges look into contract work or part time somewhere ... Test the water and see how well your stuff is selling and if their is a market for your stuff.

[Eric.]

Good advice above...don't jump off the horse you're on now until you know the other one can support you.  How many cutting boards do you need to make and sell in a month to pay the mortgage?  And insurance.  And utilities.  And a car payment.  And insurance on that.  And groceries.  And on and on.  I'd slowly build my business while still pulling income from the regular job.

 

Also, don't forget...all that shop time you're dreaming about at your day job now...once you're waist deep and grinding out project after project to survive...there's a very good chance all you'll be dreaming about is doing something other than woodworking.  Turning your favorite thing into a job is a great way to make it your least favorite thing.  Another good reason to take it slow and see how you like it when you have to do it.  There was a time in my life when I tinkered with the idea of woodworking for a living...tried a few commissions...hated it.

[jHop]

Check with your local community college.  Specifically, the business department, and the Small Business Administration teachers.  There's usually one or two who are willing to sit down with you and talk about options.  You may end up having to host a few "information nights," or attend a few talks as a guest speaker as a payment, but that's usually far more fair in pricing.  

 

Also, check with SCORE: I guarantee someone will be able to help you out with a similar experience, even if it's not exactly in your two fields.  (Whether you can get along with them or not, that's a different story.)  Be realistic in your goals, and planning.  Don't sugar coat it and say "of course they'll come.  I'm nice and make stuff."  It's still a job.  You still have to market and sell products.  Not to mention create them.

 

 

(I"m going through something similar, and realizing the work involved in creating a product is 40 hours per week, and starting is 20 hours per week, and marketing/selling is 20 hours per week.  So time will get away from me.)  

 

Don't think that this is the only time you will be able to make this change.  Plan accordingly for change, and you will be able to do it.  Get drastic in your cutting to come up with the planning.  If you need to work 45 hours a week so you can afford to set aside some extra seed money, you might have to do it.  (Think of the benefit, rather than the frustration of your current situation.)  Having a background in finance jobs, I can honestly say that money set aside now will be larger later, and the longer you can set it aside and not touch it, the bigger it will be.  If you think you'll be doing this in 6 months, you need to set aside funds now.  If you think it will take you 2 years, still set the money aside now.

 

I'm not trying to say it cannot be done.  I'll check with my teachers this weekend, and see if I can post up some spreadsheets from class (I'm in my last semester of an Associates in Small Business) that might help out.  One piece of advice I was given: write up the business plan.  Companies without a plan are more likely to fail than those that come up with a plan.  And update the plan periodically.  A plan, written out with 3, 6, and 12 month goals can get you help from banks, angel investors, and real estate agents (you might need a larger shop or a storefront), and giving them a timeframe for when you need these "goal marks" will not only impress them but help them help you.

 

(I should add: most of my knowledge right now is theoretical.  I have yet to get my planned business off the ground.  So don't think I'm the only one with good advice.  I'm the one with some book knowledge.  NOTHING beats actual experience, and there are others who have already spoken that have that hands down.)

[jHop]

Sorry for the delay in getting back to everybody... family wellness issues.  (Which is a different topic to consider... but I digress.)

 

I checked with my New Business Development instructor, Andrew Bajda.  He has given permission for me to share the spreadsheets, but cautioned that this was originally developed as an aide for students to set up a business, not as part of a package for sale as a generic "start up kit."  So I do have the spreadsheet, and can email it to you if you are interested.  (Because of the warning that it is not for sale, I won't just post it here where it's available through an open search.)  

 

I am not attaching a price to this; all you have to do is email me.  Contact me either through messages here (I don't IM, due to time/schedule complexities) or my email address.  I can give an overview of how the spreadsheet works, but the person who can explain the most about it is Mr. Bajda himself.  (He can be reached at andrew.bajda@tri-c.edu.)  If you contact him, there's no secret handshake or pass code; just tell him you heard about him from me.  (Jeremy)