Going through a Rut, self doubt creeping in..

I can never understand that mindset.

Plus - the most annoying bit - the empty New Year's resolutions. :rolleyes:

EEEENUUFFF with the "I'm going on a diet" and I'm giving up smoking" guff...god; cracked records.

The diff between this year and next year is about 2 secs, Tues to Wed. Ask the cat what it thinks about it all.

How does it all of a sudden make you have to take stock of everything; unless you pencil it in each year as the date to take stock of yer life....:confused:

Why not May 12th?

It's just another day; how about go "Happy New Year" with no other silly conditions attached?

But yeah, whatever; do it if you must, I suppose.

Hi Redwing/Bayview,

Has nothing to do with end of year/new year cycles - strangely enough I just read Michael Lewis' "The Big Short" - just to go off topic al ittle bit, it is an amazing read about the subprime mortgage industry..loved every page of it...just shows you how many seemingly smart and intelligent people didn't know what they were doing, and were seemingly to afraid to ask simple questions for fear of looking dumb. In the end, the people who were willing to look dumb and ask the "stupid" questions rode off into the sunset. I highly recommend the book.

And thanks for the book recommendation :)
 
How you manage to wake up everyday and go to wwork is beyond me
If I had to take a 50% pay cut assuming you work fulltime
( I work part time so it doesn't count) sell four out of five ips at your age as well, with kids

Is amazing I certainly couldn't cope
yeah, well...life's just an absolute ball these days.

The plan was to pull out about $100k per year and work about 20 hours per week - or less.

Turns out the reverse is the case.

I do work full time - 50 hours plus usually, and considering I bought the business to employ a manager, become semi-retired and play golf and play with the kids, things have turned out just swimmingly...I don't think.

But, you have to go on, don't you?

You'll be fine; trim those doodads, and onward.
 
Well Gronk, and Somersoft guys,
This is one hell of a community. So fortunate to have this place to gather our thoughts and support. We are naturally so vulnerable to the thoughts and patterns of those around us (partners, friends and all). Personally, most the people around me do not have mindset to invest in appreciating assets, or understand what IP#3 means.

Gronk you replied to my comment mentioning wife, and another mentioning external forces. Happy to be wrong, i feel you posted here because we have property investor mindsets here. Most of our partners aren't investors. I expect that she is very proud of what you (or both of you) have achieved. The more she gets to know Mauritius and her knew community the happier and more gratitude she will have for all your hard work. Your Soul Searching or concerns may be settled by a bit more Gratitude. You presented a really high class problem. Isn't it fantastic to be unsure of how to get the best return on such a portfolio. etc. A Gratitude Journal or more focus on positive mindset can help that immensely.

Also, finding a few Investors in Mauritius. Suggest Meetup.com

Happy, to share Bob P or any mindset material over Dropbox for anyone here.

The Quality of our lives is often determined by the quality of our questions. Tony Robbins.
 
Wasn't it Swannie who said small business was the economies engine room?

I'm a supporter Bayview, I'd even drop in for a service or new tyres if I was in the area. You've a great strength of character and I'm hoping to see things turn around for you
 
yeah, well...life's just an absolute ball these days.

The plan was to pull out about $100k per year and work about 20 hours per week - or less.

Turns out the reverse is the case.

I do work full time - 50 hours plus usually, and considering I bought the business to employ a manager, become semi-retired and play golf and play with the kids, things have turned out just swimmingly...I don't think.

But, you have to go on, don't you?

You'll be fine; trim those doodads, and onward.

Answer me something, putting do what you have to do aside, does the whole situation Play On your mind?

I'm about 15 years behind you, I've had my ups and downs, however . Had my kid's younger then you
Two businesses, one a disaster, one did ok before I sold out
I lost 70% of an IP to the ex wife
However, it woule absolutey gut me if I eas in your position at your age to lose a huge chunk of it, I tlook my risks when I was younger, and no offence but you don't seem thay interested in your industry but are doibg it out of necessity

I doubt I could handle what you are doing to be honest
And probably would send me spiralling into depression
 
Answer me something, putting do what you have to do aside, does the whole situation Play On your mind?
Absolutely. Currently, I feel like a failure...and trapped in a never-ending nightmare.

Our investment progress has sunk for god knows how long, now.

Putting on a smiley face for the staff, for the customers, for my wife and kids, friends and family is bloody hard work.

This is the only place where I can sorta vent and have a sook. Thanks everyone for lending a keyboard ear. (My wife and I vent and sook to each other though - eases the burden somewhat).

I wouldn't mind if I were lazy, or stupid, or didn't try to run a caring helpful business - but we try to help folks and not rip them off, yet we are receiving less business.

I hear constantly from folks how they hate the Dealerships; too expensive and so on, yet they still get loads of cars through the workshop. :confused:

I'm about 15 years behind you, I've had my ups and downs, however . Had my kid's younger then you
Two businesses, one a disaster, one did ok before I sold out
I lost 70% of an IP to the ex wife
However, it woule absolutey gut me if I eas in your position at your age to lose a huge chunk of it, I tlook my risks when I was younger, and no offence but you don't seem thay interested in your industry but are doibg it out of necessity
I started losing interest about 2 years ago when I could see that I was making no money from the place, and I also saw how the whole scenario of dealing with a never-ending stream of vehicle ignorant, panicky, obsessive and difficult customers, combined with ever-increasing Govt regs and interference is driving so many mechanics away from running a similar business.

We try to always be helpful and so on, but christ; dealing with humans is a pain in the @rze on many days. Where's the fun and profit?

Then there are staff issues, and the ever-present worry of the "ever since" customer who comes back 2 days later, or the next day, or next week, or who is simply trying to con you for another issue which you have nothing to do with.

If you were making a lot of money, you could cope with it, but to earn only an average wage - if at all - and to be worried every month that you won't be able to pay bills takes the gloss off, so to speak.

I doubt I could handle what you are doing to be honest
And probably would send me spiralling into depression
Well, that has happened.

Folks on another thread have said get some help - that costs money we don't have, and many others have offered loads of advice and lots of helpful hints - for which I am very grateful - many of them involve spending some money to rev the place up, of course - and I am aware that these things need to occur to raise the profile etc - but there is literally no excess cash to throw at that until the bills are back under control...

Suppliers, Bank and Landlord have to come before advertising at this point in time. All I can do right now is try to trim expenses to the marrow and hope, and do things to promote the business that are free.

I've cut the staff to the bone, the wife is back working as many hours as she can cope with, so there it is.

The Gubbmint is not in the business of bailing out small private businesses, so you have to make your own way.

It's my mistake, and my responsibility - no one made me buy the place, so I have to wear it and keep on punching.
 
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Only you can know when to pull the pin Bayview. Im way younger than you but have been plugging away at my business(s) for 10 years now. Had one disaster that I got out of. All I can say is sometimes it is better to cut your losses and move on. Nothing the world can offer you is worth the price of being depressed or under severe stress like I was at one stage.

If you get out you can at least start moving forward again instead of slowly peddling backwards. Eventually that shop is going to swallow all your investments, PPOR and whatever else you have tucked away. Be careful.

Actually here is a bit of reading for you. This is a thread I started 3 years ago.
http://somersoft.com/forums/showthread.php?t=66919

Since then my wife and I have retained the IP's we had then, picked up two more, close to doubled our net worth, had a child, smashed our mortgage, got out of that $hit business and started a new more profitable one. When I started that thread I was a mess, depressed, stressed out, full of anxiety, would wake in the middle of the night out of breath like I was choking. Got up one day said Fcuk this for a joke and did something about it.
 
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Wow bv
I didn't know you felt like that
You always sound like it doesn't bother you at all

I know exactly how you feel
Been in a business where everymonth I would be wortried whether I could afford the rent, this was even though I was not payiby myself a cent for stupid hours

Luckily I was and am still interested the industry
Had I had no passion I would be a mess
I sacrificed my relationship, no kids at the time
I was running on pure adrenalin and the fear of not being able to pay the rent,
I was like a high strung guitar 24/7
You are lucky you are still earning a wage even if it's low
my bad business I was losing almost 5k per week in wages eith the hope of sales, at peak it was turning ovDr 1k per week so a net loss of 4k per week

But I tried again a few years later

My far more successful business
I put it on the market after under two years at its peak and When I got my first reasonable offer I jumped at it, afyer grtting offers 75% below asking price

Settlement and triall period was very nerve wracking

We had a small party for staff and reguLars on my last night trading and handover
Finished up at 3am
Got back to gfs house at 5am
Back on site at 9am
Signed docs and paperwork
Got home and literally didn't move and watched tv for about 4 days straight
I still remember the relief and the emotion of those four days

One of the most notable days of my life

Sorry bv I've side tracked slightly
But I know your position

Keep at it
I won't tell you what you should do as I don't know and telling you or even thinking I know would make me a hknowall and a hyprocrit
I admire what you are doing
And to be honest even though I had a disaster followed by a positive one, I am very reluctant to go doan the same path

Maybe I'm scarred, or scared or become lazier or wiser
But I provably won't get involved in them again
 
Bv take all the advice that people saying you gotta spend money to make money or yoh gotta renovate your shop to increase turnover with a grain of salt

Sure they might be right but if your industry or location has no demand having a pretty shop won't so anything for you but I'm sure you already know that

Also it's roi as well, no point in spending 50k On advertising and make over or a piece of equipment all for 5k extra profit per year

Nobody really knows whether it wil be worth it but you may be able to make n educated guess

I had to face similar situations
Should I pay 2.5k for a yellow pages ad
Should I take up the offer of the googleads service for 4k
Should I pAy 3k for a lightbox outside the shop
Should I do one of those groupOn things that eessentially won't eeven cover my costs and may cheapen my brand
 
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