There was  a topic recently about custom woodwork, which I've now lost track of.   I heard Nancy in a presentation last weekend and meant to post some of here thoughts, but could not find those either at the time.  

 

Probably the best advice I got before I quit my job and started my business from from a (former) custom woodworker, "The world is full of ex-custom woodworkers paying off their IRS debts."    That was enough to lead me in another direction.

 

Here's one of Nancy's recent posts

http://www.finewoodworking.com/2017/08/14/nancy-hillers-reality-checklist

Edited November 19, 20178 yr by Ron Dudelston
Added tags

Thanks, Keith. Her insights should be mandatory reading for all aspiring business owners. Very sobering. 

And that's why it's a hobby for me. 

20 minutes ago, DAB said:

And that's why it's a hobby for me. 

Ditto.

1 hour ago, DAB said:

And that's why it's a hobby for me. 

 

Same here, I truly believe the best way to make a small fortune woodworking is to start with a really large fortune.

Everyone keeps telling me to sell the things I make.  I tell them I don't a job, especially one that pays a lot less and has more headaches than the job I retired from.

17 minutes ago, HandyDan said:

Everyone keeps telling me to sell the things I make.  I tell them I don't a job, especially one that pays a lot less and has more headaches than the job I retired from.

 

similar here.

 

gave a friend a nice little cherry box last week.  they said, "hey, you should sell these"

 

nope.

 

if i approached it in a proper business manner, i'd be up to my eye balls in paperwork every week, sure, i'd have all sorts of tax deductions on day one for my shop and all its tools, but the IRS says you have to show a profit in 2 out of 5 years, or they consider it a hobby, thus no deductions for you, so pay up your back taxes.

 

it's cheaper just to give it away.  don't have to worry about record keeping, filing reports with the county and state every quarter, keeping separate accounts, tracking lumber purchases, dealing with inspections and rules......no thanks.

Best advice I've ever heard about starting a business:  only work for yourself if you can't stand working for anyone else.

 

Down deep, wherever you work, no one really likes the Boss.  That includes the self-employed.

I worked for myself for several years before retirement....well....before I stopped working, anyway. But, I did consultant work. No equipment issues, no permits or other gummit BS. My only tax deductions were for office space in my home, paper computer, printer, some training, and car related expenses. And a CPA. She was a life saver. 

But, I'm sure my minor hassles would've multiplied a hundredfold, or more, were it any sort of manufacturing concern. 

Hobby only, for me.

Sure, it's a tough business, I think most failures come from bad planning and bad product line. But keep in mind, this article was written by who? A SUCCESSFUL WOODWORKER! Like the M & M's and Santa Clause commercial around the holidays when they see each other for the first time. "They do exist!" "He does exist!"

A recent post from her along these lines was to an answer for, "Why does this cost so much?  Can you do it for any less?"

 

 

22 minutes ago, kmealy said:

A recent post from her along these lines was to an answer for, "Why does this cost so much?  Can you do it for any less?"

 

 

 

heard that more than once.

 

"nope, but i'm sure you can buy the tools you'll need, acquire the limited knowledge needed, find some space somewhere, and produce the same thing for less than the cost of the raw materials."

 

 

had a gal one time, wanted a "special" cutting board, with her last name initial worked into it.  one big S coming up.

 

design it, lay it out, assemble it, take a pic, send pic, she likes the pic, send the board, 6 weeks pass, no money honey, finally contact her, "oh, it's not fancy enough".

 

What?

 

either pay up, or send it back.  you aren't getting it for free.

 

last time i do that for someone i don't know real well personally.  cash up front baby.

 

later got it back and gave it to someone who liked it.

I am always reminded of some pieces that I made for a friend.  He came over to the shop while I cut the piece out.   His comment was, "It sure is easy when you have all the nice tools."    I felt like saying, "Here's a Strad, let's hear you play 'The Four Seasons.'"

2 hours ago, kmealy said:

I am always reminded of some pieces that I made for a friend.  He came over to the shop while I cut the piece out.   His comment was, "It sure is easy when you have all the nice tools."    I felt like saying, "Here's a Strad, let's hear you play 'The Four Seasons.'"

I like that, I am going to remember that one.

17 hours ago, kmealy said:

"Here's a Strad,

Wow, you got a Strad?

26 minutes ago, Grandpadave52 said:

Wow, you got a Strad?

Ah shucks, it was left over from when I played it in HS orchestra.

 

And I want cheap

http://blog.woodshopnews.com/tbaw/down-the-toilet/

I don't do cheap. My stuff will last. 

 

Bed and matching night stands. White oak. Also did the punched metal. 

 

Two drawers underneath each side. 

Edited August 24, 20178 yr by DAB

12 minutes ago, kmealy said:

And I want cheap

Good reality check though that the craft is not dead or even dying, but the consumer is the one who has changed. A disposable society who wants everything now. IMO just a simple lack and appreciation for quality. style and owning something that can be passed down for generations to come. The same generation that will likely see 7-11 job changes in the working career and 3-5 career path changes. Yes, the same ones who think nothing of dropping $700=$1000 for a new phone that they'll discard in a year or two at most to spend that amount again for the latest version.

 

Always in the pursuit for contentment yet never able to find it. My dad always used to tell me, "son, what you want and what you need are two entirely different things. You can spend your entire life wanting things but you'll never be happy. Learn to be happy with what you have first and you'll find you want a whole lot less."

 

OK, off my now. Please return to your regularly scheduled forum thread.