Joint Custody
Well-Known Member
So I have been in the same industry for 30 years and over the last five years the industry I am in has just gotten harder and harder to find and sign up good new clientele on top of that our industry has been a challenge as well to have success in the way we did five / ten years ago.
We are in the contract brand management business. A good client for us is.. Do they have a good brand, Do the have the backing to take it to market, do they pay on time, do we fit with them on a business and personal level, will we have balance of life if we sign them.
Our legacy brands that we have " 15 years +" have all been sold to VC groups so half have gone away other brands we have had to drop for lack of payment. The brands we have in our portfolio are good brands however they don't pay on time.. they do pay eventually but it is hard to count on them for your monthly/ quarterly nut.
There are new brands to get however in today's world they only can pay 50% of our monthly fee so you have that challenge as well with new brands.
All of this has me burned out and a little jaded.
I am going into 2023 50% down in income and the clients we are courting just haven't come in yet. I have plenty of savings and cushion however I don't want to touch it.
One thing i learned from 2008-2009-2010 is you can burn through your savingings fast off setting the short fall and at 55 I don't want to do that.
I did have one bad investment in 2021/2022 that taped my savings pretty hard and I just don't want to go into them again if I don't have too.
With that all said with my current clientele I am only working around fours hours a day and pretty much done the work week by thursday. This has left a lot of time on my hands and you can only do so much around the house to keep busy and if you get out of the house you just spend money so I am trying to be smart about things and quite frankly has had me in a pretty bad funk!
I have the chance to work another industry 20 hours a week or less that would bring around 80k to 100k a year....pretty much set my own schedule other than working every other saturday. It is selling and that is what I like to do so that is good. I did my first day today with them ... great people and when you get a sale it is instant gratification. It will be a bit of a learning curve but it is not rocket science. It is retail sales and I have always been wholesale sales.
I would much rather just get my current business back in the right direction but that is going to take some time.
I haven't work for someone day to day in 30 years or gone into a office either. I have always been in outside sales and didnt feel tied to one location.
My struggle as I sit and write this is. I kinda feel like a failure at my age and there is a little bit of humility doing this to off set my loss. The goal with doing this is to get me out of my home office and around people, to not touch my savings and investments and to hopefully revitalize myself and motivate myself to overcome the challenges in my current business.
I would love to hear from those of you that have done something like this.
Thanks for the input.
We are in the contract brand management business. A good client for us is.. Do they have a good brand, Do the have the backing to take it to market, do they pay on time, do we fit with them on a business and personal level, will we have balance of life if we sign them.
Our legacy brands that we have " 15 years +" have all been sold to VC groups so half have gone away other brands we have had to drop for lack of payment. The brands we have in our portfolio are good brands however they don't pay on time.. they do pay eventually but it is hard to count on them for your monthly/ quarterly nut.
There are new brands to get however in today's world they only can pay 50% of our monthly fee so you have that challenge as well with new brands.
All of this has me burned out and a little jaded.
I am going into 2023 50% down in income and the clients we are courting just haven't come in yet. I have plenty of savings and cushion however I don't want to touch it.
One thing i learned from 2008-2009-2010 is you can burn through your savingings fast off setting the short fall and at 55 I don't want to do that.
I did have one bad investment in 2021/2022 that taped my savings pretty hard and I just don't want to go into them again if I don't have too.
With that all said with my current clientele I am only working around fours hours a day and pretty much done the work week by thursday. This has left a lot of time on my hands and you can only do so much around the house to keep busy and if you get out of the house you just spend money so I am trying to be smart about things and quite frankly has had me in a pretty bad funk!
I have the chance to work another industry 20 hours a week or less that would bring around 80k to 100k a year....pretty much set my own schedule other than working every other saturday. It is selling and that is what I like to do so that is good. I did my first day today with them ... great people and when you get a sale it is instant gratification. It will be a bit of a learning curve but it is not rocket science. It is retail sales and I have always been wholesale sales.
I would much rather just get my current business back in the right direction but that is going to take some time.
I haven't work for someone day to day in 30 years or gone into a office either. I have always been in outside sales and didnt feel tied to one location.
My struggle as I sit and write this is. I kinda feel like a failure at my age and there is a little bit of humility doing this to off set my loss. The goal with doing this is to get me out of my home office and around people, to not touch my savings and investments and to hopefully revitalize myself and motivate myself to overcome the challenges in my current business.
I would love to hear from those of you that have done something like this.
Thanks for the input.