Forums: Discussions for entrepreneurs and small business.

Here is the question:

How much is too much?  My wife and I own Performance Detailing, set up as an LLC.  My wife sells Mary K, works for 911, and we have two children 4 & 6.  We also own a health drink distributorship, a MLM.  I also run a company for a friend of mine that was hurt in an accident selling product for detail companies.  (Works well for me I get my entire product line at cost; there is a 100-125% mark up on detail products). 

We are very busy, we have inventory in two companies that is retail.  Then the detail company that keeps me busy (real busy).  I just think that in today’s world, when I get to retirement, I won’t get any help from the government to speak of, but am I starting too many fires?  I don’t want to consume myself with all of this, but I need to plan for the future.  Right now I work 20-22 hours a day 5 days a week and 10-15 hours a day on the weekend.  My kids don`t get to see me a lot, so am I missing out on to much and should I scale back, or should I press on and hope for a brighter tomorrow?

Thanks,

Tony

 

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Tony Sorensen Performance Detailing www.performance-detailing.com info@performance-detailing.com tojealca@gmail.com

Tony,

Bravo to your energy!  I think you know the answer to this one.  But, I will write it anyway at the risk of sounding like Mrs Cleaver (which is my lot on SuN I guess).  You will NEVER get back the time you lose with your kids.  Nowadays people are living very long lives.  After your kids are grown (or otherwise busy themselves), you will have YEARS to do all of this work. 

Second, sometimes we spread ourselves so thin that we don`t do anything as well as we could.  How much more profitable would your detail shop be if you weren`t spread so thin on your other ventures?

Third, take all of this with a grain of salt.  I don`t live at your house.  I too like to be very busy.  So, if your family life is working this way, then continue on and grow baby grow!

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Kindra Beauprey Director Liberty Bell Spirit Squad www.libertybells.net

Hey Tony:  It`s one thing to be busy.  It`s quite another to be working 20-22 hours a day!  When do you eat?  Your body isn`t getting enough sleep.    Your body won`t let that continue for long.  When your body has decided it has had enough it will STOP you dead in your tracks.  Trust me, mine did and then work didn`t matter any longer. 

Your kids won`t be kids for long.  Work on the other hand will be around for a long time.  Find a balance that works for business, your family and yourself and you`ll be much more productive in whatever you choose, your body and mind will love you for it and so will your family.

Hey Tony,

I guess it depends on what your goals are.  I agree with you on not counting on the government for your retirement, so being in business for yourself is an excellent idea.  But if one of your goals is to spend time with your family, you may need to decide which program will be the most profitable for you, and concentrate there.  Become a master of one, instead of a jack of all trades and master of none.  One of the benefits of being in business for yourself, is that you work hard in the beginning, and then eventually you work less and less while earning more and more.

Good luck with your decision!

Tina

We started a concrete placement company - my husband, his brother and myself - in 1997.  Two years ago we grew and had around 120 employees and the biggest nightmare.  We basically allowed the company to run us and although the money was fantastic, the time and energy it took from our families was not acceptable. We missed all the stuff we did with the girls before the big "boom"   (4 girls - 22, 22, 17, and 10 and just added 2 grandkids) We are now at 40 or so employees by letting contracts expire that were not as profitable, and saying "no".  We are looking for a new company and get out of construction completely but in the mean time - we run the company.  Way better!! I`m all for scaling back.  Live life with your kids - camp, go to the park, play frisbee.  The laughs we have with the older girls as we replay "excursions" from over the years are wonderful.

Good luck!

Jan

You must be living in California! It`s so expensive to live here. I know I work quite a bit of hours and so do a few friends of mine. All I can say in a short answer is... maybe your kids are being raised by someone else, and maybe your body will not last to reach a healthy age of 65. You may be trading high earnings for higher doctor bills in the later years... And by then, maybe your children, then adults, will be living lives of thier own with no attachment to you and yours.

Sorry if it`s harsh, but really it`s only an oppinion.



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Vincent Wilcox (a.k.a. KRAKR)
Drummer
My band: Letters Make Words

No, I do not live in Claifornia!  I live in Oregon, we are lucky in that my kids grandparents live across the street so they get to spend time with them.  I do work a lot of hours, but that will be changing here in the next two weeks.  I am closing one of the business down so that will free up some time.  I wish that I did not have to do it but it must be done.

My kids do get to spend time with me but it is at works so it is not the quality time that they deserve, but that will change!

Thnaks to all for the advice!

Tony

 

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Tony Sorensen Performance Detailing www.performance-detailing.com info@performance-detailing.com tojealca@gmail.com

business is indeed taxing!

quality time for loved ones is a must. Devote time for it , that`s all i can say at the moment.

1. Family
2. Business


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My grandfather said it best.

"Work to live, don`t live to work"

I have known people that literally work themselves into the grave and I swore that I would never do that.

I currently know a guy, mid-forties, owns a half dozen properties, each of them worth a million or more, does all of the maintainence himself, spends no time with his family, doesn`t go on vacations AND he tends bar each night until 2am. I shouldn`t need to add that  he constantly complains about his lot in life. 

He could sell just one of his properties and be comfortable but he thinks he`s sacrificing for the future. What he doesn`t realize is that he is sacrificing his entire life right now! It`s about the saddest thing I`ve ever seen. I`ve decided that he is as incapable of relaxing and enjoying time with his family in the same way that an addict cannot break their desire to get a fix.

Don`t let that happen to you Tony .......or anyone!

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~Eric
JE Design Group, LLC
If all you do is what you`ve done, then all you`ll get is what you`ve got.
www.jedesigngroup.com

Good analogy, I am working on not spending so much time working.  I did spend the whole day on Saturday with the family so that was nice.  Spent the rest of the weekend working so that was not nice, but for the time being you got to do what you got to do I guess?

 

I think part of it for me and people around my age is that I am so sure that when it comes time for me to retire, there will be nothing of Social (in)Security left, so I need to make sure that I have enough income streams that I can save money for that!  I also want to build the passive income streams, so I am working on that too.

 

Thanks for the ideas and comments!

 

Tony

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Tony Sorensen Performance Detailing www.performance-detailing.com info@performance-detailing.com tojealca@gmail.com