Re:You’re a developer, so why do you work for someone else?
by lsc on Tuesday August 17, 2010 @06:06AM
(#1610708)
eh, maybe. But you need to be /very careful/ with that. It's /very easy/ to get yourself in a whole lot of debit. I know two people who will be in debit for the rest of their lives because they were overconfident, made mistakes and weren't able to pay taxes on large amounts of money that then got pinned on them personally rather than the failing corp.
I mean, you need to be able to take some risks... but you also need to temper that with 'I might fail' because especially the first time? you probably will. Personally, my low point was around $15K that I was personally on the hook for. Considering my income potential, it's a reasonable number; I paid it off through contracting in a reasonable amount of time, and if worst came to worst, it wasn't tax debit; While I had to personally co-sign, I could have declared personal bankruptcy.
But, my point is that yeah, you need to take risk... and taking risks where the downside means you have to work for a year or two for other people if you fail seems pretty reasonable to me. Taking risks where if you fail, you will never get to try again, ever, seems like a bad idea.
So yeah; confidence is great, and you need some of it. But cover your ass because the worst case does sometimes happen. Be /especially/ careful of debits you can't get rid of through bankruptcy- e.g. don't fuck around with your taxes, get someone who knows what they are doing. The system is complex and even when you make honest mistakes, often the assumption seems to be that you were trying to cheat.
If you can learn from your failures and try again, you have a much higher lifetime chance of success than if you only have one shot.
I mean, you need to be able to take some risks... but you also need to temper that with 'I might fail' because especially the first time? you probably will. Personally, my low point was around $15K that I was personally on the hook for. Considering my income potential, it's a reasonable number; I paid it off through contracting in a reasonable amount of time, and if worst came to worst, it wasn't tax debit; While I had to personally co-sign, I could have declared personal bankruptcy.
But, my point is that yeah, you need to take risk... and taking risks where the downside means you have to work for a year or two for other people if you fail seems pretty reasonable to me. Taking risks where if you fail, you will never get to try again, ever, seems like a bad idea.
So yeah; confidence is great, and you need some of it. But cover your ass because the worst case does sometimes happen. Be /especially/ careful of debits you can't get rid of through bankruptcy- e.g. don't fuck around with your taxes, get someone who knows what they are doing. The system is complex and even when you make honest mistakes, often the assumption seems to be that you were trying to cheat.
If you can learn from your failures and try again, you have a much higher lifetime chance of success than if you only have one shot.