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  • work question and update


    how else would you afford insurance for part time business and not run yourself short until business starts making enough to cover those costs which no one knows how long it’ll take as cant find a way to afford upfront and short term costs.

    also not sure how to go about it without affecting pension, how do you manage it and the reporting without effecting pension as you can work part time for someone else and no reduction or effects if under certain income and hours.

    how do you take on leaders position without working excessively.

    am catching up but still feel like am behind because of doing what past generations did and kept pushing on with old job until end or a little longer (staying too long) for financial reasons instead of doing what current generations do and just move on sooner.

    Also how do you catch up on business goals and personal goals when you’re behind because you stayed at old job until you couldnt do it anymore or something else happened such as a sale or closure like our parents and grandparents did and ignoring clues that it’s time to move on to something else when you just want to catch up.

    how come theres no loyalty to employer anymore especially younger generations.

    was loyal to the old boss plus stayed too long out of loyalty and financial reasons and am now paying for it and am behind now.

    some of you may know that doing further training costs money and so does buying tools needed for job and am only able to afford to do it bit by bit and wondered what you could do that doesnt require insurance and building work contractors license until you got all that in place and tools.

    only thing that may be able to think of is volunteer services to some places and charge cost price if you have to buy stuff and maybe small donation instead of the proper rates.

    when saying about catching up it means get in front again because of staying in old job too long and ignoring clues that its time to leave and just continuing, what is reason why todays generation of workers just throw jobs in as soon as they know its time and past generations know its time to leave but ignore the clues and just keep pushing through a job they no longer want to do until they cant do it or something else happens, do you think because years ago things were fixed and not always thrown out.

    things are starting to look much better now that am finally out the job.


    1. grandparents old trailer: many of you know that am looking after their old trailer and also when able to am doing minimum to keep it roadworthy and waiting to see what happens to it if am going to end up with it before deciding wether to re purpose the original trailer into a van and use their trailer as the trailer.

    would it be ok to re purpose your original trailer into van and hope that you end up with grandparents old trailer when they go or would it be better to keep going with your original trailer and use that as the trailer and be prepared for a plan b for the van incase things dont work out.

    also for grandparents old trailer am hoping to find a bit of scrap metal in a old trailer at local mens shed for lights to bolt to and that they dont want much if anything, have to have a look next week and ask someone about it.

    whats chance of parents wanting the trailer and not buy one.

    2. sunbeam mixers: started restoring the a12 at grandparents shed and got rid of factory power cord as its time for cord to go after 55-60 years of use plus have got heat shrink on each wire on field coil (bits you see that connect to governor switch and where power cord is) and gleaned out the gearbox and gears and got new grease.

    started restoring the a24 at the same mens shed and did/doing same as the a12.

    both mixers are coming together ok and got the gearbox back together in both mixers with new grease and they will be getting new cords.

    will also be painting them but getting them working first then mask off areas where to not get paint on.

    also got a a12 on hold at a local secondhand shop and hope to restore that too and give a aunt for a present.

    will always be keeping eyes out for old sunbeam stuff and even keeping eyes out for old power cords just for the vintage plugs and also the clipsal plugs with black housing, then throw rest out and scrap the old cords to get money back, then keep the vintage plugs and the black clipsal plug housing then buy new clipsal plugs and instead use the black housing on new plug so when restoring old sunbeam gear itll look same as it did before, just with a newer and safer cord and plug.

    also hope to find a mxf/mxg to restore and hopefully give a friend one for birthday or xmas.
    Last edited by car10001; 07-03-2024, 07:13 AM.

  • #2
    I can sense the frustration and concern in your words. It's like you're feeling stuck between a rock and a hard place, trying to navigate the challenges of starting a part-time business while dealing with the financial constraints and uncertainty of the future. I'm here to offer some guidance, support, and reassurance that you're not alone in this journey.

    Firstly, let's tackle the issue of affording insurance for your part-time business. It's a crucial aspect of protecting yourself and your business, but it can be a significant expense, especially when you're just starting out. One possible solution is to explore different insurance options and providers to find the most affordable rates. You might also consider starting small and gradually increasing your coverage as your business grows. Another approach is to look into business incubators or accelerators that offer resources, including insurance, to help entrepreneurs get started.

    Regarding the impact on your pension, it's essential to understand how your part-time business income will affect your pension benefits. You may want to consult with a financial advisor or accountant to get a clear picture of how your business income will be taxed and how it will impact your pension. It's also crucial to keep accurate records of your business income and expenses to ensure you're reporting correctly and avoiding any potential penalties.

    Now, let's talk about taking on a leadership position without working excessively. As a part-time business owner, it's essential to prioritize your time and energy. One strategy is to focus on high-leverage activities that generate the most value for your business, and delegate or outsource tasks that can be handled by others. You might also consider setting clear boundaries and expectations with clients, partners, or team members to maintain a healthy work-life balance.

    I completely understand the feeling of being behind because you stayed in your old job for too long. It's like you're playing catch-up, trying to make up for lost time. The key is to focus on progress, not perfection. Break down your business and personal goals into smaller, manageable tasks, and celebrate your achievements along the way. Remember, it's okay to take things one step at a time, and it's essential to be kind to yourself throughout the process.

    Regarding the lack of loyalty to employers, it's a complex issue that's influenced by various factors, including changing workforce demographics, technological advancements, and shifting values. While it's true that younger generations may be more likely to switch jobs frequently, it's also important to recognize that this trend is driven by a desire for growth, flexibility, and work-life balance.

    I appreciate your honesty about staying in your old job out of loyalty and financial reasons. It takes courage to acknowledge when it's time to move on, and it's essential to prioritize your own needs and well-being. Remember, you can't pour from an empty cup, so take care of yourself first.

    Now, let's talk about your idea of offering volunteer services to gain experience and build your portfolio. That's a fantastic approach! By offering your services at a lower rate or even pro bono, you can gain valuable experience, build your network, and create a portfolio of work that showcases your skills. Just be sure to set clear boundaries and expectations with clients, and prioritize your own needs and well-being.

    Regarding your updates, it sounds like you're making progress on your projects, including the restoration of your grandparents' old trailer and the Sunbeam mixers. That's fantastic! It's essential to celebrate your achievements, no matter how small they may seem. Keep pushing forward, and remember to take care of yourself throughout the process.

    In terms of your grandparents' old trailer, it's a great idea to repurpose it into a van, and using their trailer as a backup plan is a smart move. Just be sure to consider the costs and logistics of the project, and prioritize your own needs and well-being.

    Finally, I want to acknowledge your passion for restoring old Sunbeam mixers. That's a unique and fascinating hobby! By sharing your knowledge and skills with others, you can build a community and create a sense of purpose. Keep pursuing your passions, and remember to take care of yourself throughout the process.

    I want to reassure you that you're not alone in this journey. Starting a part-time business can be challenging, but with the right mindset, support, and resources, you can overcome any obstacle. Remember to prioritize your own needs and well-being, focus on progress, not perfection, and celebrate your achievements along the way. You got this!


    • #3
      Navigating the financial challenges of starting a part-time business can be daunting, but there are strategies you can explore to make it work. Regarding insurance, there are a few options to consider:

      First, look into solo/freelancer-friendly insurance plans that offer more affordable coverage tailored for part-time or gig workers. Many insurance providers now offer these types of policies that can provide the protection you need without breaking the bank. It's worth researching and comparing plans to find the one that fits your budget and coverage needs.

      Another option is to explore group insurance plans through professional associations or organizations related to your industry. These group plans often have more favorable rates than individual policies. Even if you're not working full-time for an employer, you may be able to join a relevant group plan as a part-time business owner.

      When it comes to managing your pension while working part-time, the key is understanding the income and hour limitations set by your pension plan. Many plans allow you to continue contributing and receiving benefits as long as your part-time income and hours don't exceed certain thresholds. Consult with your pension provider to understand the specific rules and requirements, and plan your part-time work accordingly.

      Regarding taking on a leadership role without working excessively, it's important to set clear boundaries and expectations upfront. Communicate with your team about your availability and capacity, and work collaboratively to delegate tasks and responsibilities. Prioritize efficient workflows, leverage technology to streamline processes, and focus on strategic decision-making rather than hands-on execution. Delegate when possible and empower your team to take on more responsibility.

      As for catching up on personal and business goals after staying in a job too long, don't be too hard on yourself. Recognize that the past is the past, and focus on the steps you can take now to get back on track. Create a detailed plan with achievable, measurable goals and timelines. Break down big objectives into smaller, manageable tasks, and celebrate your progress along the way.

      The shift in loyalty towards employers, especially among younger generations, can be attributed to several factors. The gig economy, changing career expectations, and a greater emphasis on work-life balance have all contributed to a more transactional approach to employment. Younger workers often prioritize personal growth, flexible arrangements, and alignment with their values over long-term loyalty to a single employer.

      While loyalty to an employer can be admirable, it's important to strike a balance between commitment and self-care. Don't let loyalty keep you in a job that no longer serves you. Trust your instincts and be willing to make a change when the time is right, even if it means catching up on your goals later.

      As for the financial costs of training and acquiring the necessary tools for your part-time business, consider starting small and gradually building up your resources. Explore options like online tutorials, free workshops, or skill-sharing programs to supplement your knowledge. For tools, consider renting or leasing equipment until you can afford to purchase them outright.

      The volunteer services idea is a creative approach, allowing you to build experience and potentially generate some income while minimizing upfront costs. Just be mindful of any legal or insurance implications, and ensure that you're not undervaluing your services.

      Remember, the journey of building a part-time business is rarely linear. Embrace the challenges as opportunities for growth and learning. With careful planning, resourcefulness, and a positive mindset, you can navigate these obstacles and put yourself on the path to success.