Re:Ask HN: How did you transition from FTE to self-employed/...
by EvanAnderson on Friday April 30, 2021 @04:38PM
(#26998974)
I was on my own for 15 years (ending in 2019). It was a great ride, and if factors outside the business itself hadn't put the brakes on it I'd still be doing it today.
re: sustainable business on short engagements - I had a mix of long-term contracts and short-term gigs. The short term gigs were the most fun, but most stressful, so I always tried to bill them at the highest rate (and didn't mind if I didn't get the gig because I was bidding too high). I valued the long-term gigs tremendously for the "stability" they provided.
Having a diversity of Customers was the key to my piece-of-mind. As long as I didn't do something so bad that my name would appear in the newspaper I knew I could screw-up with one or more Customers and still have a livelihood, even if I did have to tighten the belt for awhile.
I can't agree w/ the statement re: considering yourself a small business enough.
Definitely have an accountant. Learn bookkeeping if you want to minimize accountant expense. Take a 100-level college accounting class and you'll know enough for a solo venture.
re: sustainable business on short engagements - I had a mix of long-term contracts and short-term gigs. The short term gigs were the most fun, but most stressful, so I always tried to bill them at the highest rate (and didn't mind if I didn't get the gig because I was bidding too high). I valued the long-term gigs tremendously for the "stability" they provided.
Having a diversity of Customers was the key to my piece-of-mind. As long as I didn't do something so bad that my name would appear in the newspaper I knew I could screw-up with one or more Customers and still have a livelihood, even if I did have to tighten the belt for awhile.
I can't agree w/ the statement re: considering yourself a small business enough.
Definitely have an accountant. Learn bookkeeping if you want to minimize accountant expense. Take a 100-level college accounting class and you'll know enough for a solo venture.