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inspireme
Original Poster
26 posts
11 months
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Hello,
Firstly, I'm a long-term member of PH but don't feel particularly comfortable posting under my regular username.
What I'm looking for is some advice and opinions from you guys on the below;
I'm 28 and have worked in retail distribution since I graduated six years ago. I'm currently in a decent management position and earn around £45k p/a, plus car and health care etc - I've added these specifics to give this some context and absolutely not to try and boast.
I work long hours, easily 60+ per week, have an enormous responsibility on my back each day, being entirely responsible for a warehouse operation, and all the stress that goes with it. I've been in my current role for a few months now and with the company for around 3 years. This is the third move I've made within 3 years in respect of position and location. Each time I feel like I'm starting again, new area, new friends, new home, etc. This, coupled with having to learn a new role and to perform, is starting to take its toll and has done for a while.
Undoubtedly I'm suffering from work-related stress too. The symptoms are numerous, both physical, mental and emotional. And truth be known, I'm hating my current role. I genuinely dread driving into work. I wouldn't ever approach HR or my line manager regarding this, as it would undoubtedly stick an invisible black mark on any future progression.
It's not the hours, hard work or dedication that I have the issue with. It's more that I do not get any job satisfaction or enjoyment from what I do. There is no real feeling of achievement, no feeling of any of it being worthwhile. Other than it's remuneration in terms of pay. It all feels futile.
For years, on and off, I've suffered from depression. Having seen a counselor from July - December of last year and made good progress, resolving many of the issues I had in this time. My counselor was perplexed from the early stages in what I was doing in respect of my work and continually asked "why?". She explained that she could understand it if I had an end goal, or absolute commitments to something, perhaps financially. And to be fair to her, I was never able to answer her question. It was clear to her that my work was having a large negative impact on my life. She commented on how alive an energised I became though when talking of something that interested me - a total contrast to work.
The depression is now firmly back and has been for around 4 months now. I'm now considering going back to see a therapist once a week.
At school, right through to the point of finishing, I had always been interested in antiques and had toyed about dealing with them as a career, as well as business in general, with my dad being self-employed successfully. I've always been driven and motivated by wanting to make money/do business, to be self made. It's something that makes me feel alive and gives me a buzz. Something totally absent from my current job.
What still really interests me is reclamation and architectural salvage. The idea of scouting, buying and selling. It still appeals massively. To me, this is real day to day business and could lead to really interesting way of making a living. I could be self-employed and I'm confident my own motivation and work ethic would allow me to do well. I live 10 miles from Dover so the potential to do this on the continent cheaply is there too.
So, to the main point, I've two choices as I see it and would like your thoughts and opinions please:
1. Stick with what I have. Be grateful of the money relative to my age and the real potential to progress. Accept that many people don't like their work and that's the reality. Focus my energies on things other than work so that it perhaps doesn't consume me as it does now. Realise that this income could provide some basis and foundation for home and family one day. Understand that perhaps my current frame of mind is blackening my outlook on the job. In PH terms, 'man up'.
2. Take a chance. Start small time with salvage and reclamation and see where it takes me, with the intention of quitting my job within the next 12 months or sooner. Realise that whilst I'm currently financially stable that the money isn't making me happy - it's what I do for 12 hours a day which is making me unhappy to get it - and that I'm never likely to meet anyone to share it with and settle down with whilst I'm the miserable sod I am anyhow.
Keep in mind I'm 28, in a house share so have no financial commitments, no debts and have managed to save £10K I'm willing to put towards a business.
Apologies for this being a bit wordy!
Thoughts and ideas appreciated.
Thanks.
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CT63
454 posts
25 months
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Go for option two and start on your own. You sound very unhappy with your current job and need to do something different, you have saved reasonable money so should go for it. Good luck!
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pwrc
1,346 posts
21 months
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Although I am younger than you, in my personal experiences with depression I have found a big upheaval and change can really help. You're in a good position being young, having no financial ties; if you want to go for it give yourself a target to leave your job which will help you get through. It sounds like you're lucky enough to be passionate about something you'd really enjoy to do and I would say go for it - but it would probably be sensible to have options incase it doesn't work out. good luck 
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whirligig
938 posts
64 months
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Definitely try your hand at what you're passionate about. Life is far too short to be stuck with a job that you aren't enjoying and taking its toll health wise on you.
Now is a great time for you when you've got no big commitments and can throw yourself wholeheartedly into building up a business. Hit the "brocantes" of France & Belgium - loads of interest in "vintage" stuff/archetectural salvage just now - certainly worth trying for a few years.
Good luck!
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inspireme
Original Poster
26 posts
11 months
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All,
Thanks for the replies.
I think the exist strategy sounds a good plan. My only concern is that if I set myself a target of 12 months - this would take me through to April of next year and I'd receive my bonus pay out, should the business do well enough - I'd potentially switch off between now and then and under-perform. That, or I'd get cold feet and tell myself that it's not that bad and end up staying.
I think it might be worth me perhaps testing the waters a little. Chucking say £500 on a few items and see how they sell. Just to get a taste for it.
Any thoughts?
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bint
4,233 posts
93 months
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Go for it. My half sister for many years successfully made money buying from auctions on the continent and selling back over here.
You're young enough to have a complete change, but also experienced enough not to go into it blind, and I doubt you'd need to use all the savings.
Get a comfy estate car you can use as a cart horse and get yourself going! More people nowadays are lookin to revive, replace and repair properties given the cost of moving and mortgages.
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951TSE
212 posts
26 months
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I would go for option 2 although I would temper it by saying that it will be quite hard to go from a £45Kpa salary to living on your savings so I would start out doing the salvage evenings and weekends, if it really is your passion you will get good at it quickly although I would imaging that a lot of it would involve getting known in the trade and getting contacts you trust and who trust you, that sort of thing will not happen over night. You can then ease off on the current job. After you are sure you can make a go of it go to HR and see if you can job share on your current role, or see if there's a part time post you can move to or even if they will let you have a 6 months sabbatical.
That way you will still have a regular income as a safety net, it will also give you time to plan out exactly what you want to do and you can use your current skills to draw up a business plan. For instance will you be a sole trader or a ltd company, where will you trade from, what sort of vehicle do you need, will you do your own books or will you employ an accountant and all the other myriad things you need to take care of.
Good Luck, it's still the best feeling in the world working for yourself.
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TinySpock
149 posts
12 months
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All I'll add is this...
It's better to regret something you have done, than to regret something you haven't done.
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CoopR
953 posts
105 months
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Get a new job.
Seriously, it's very difficult to decide if option #2 is really what you want to do if you're so unhappy in the current one.
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jamescodriver
202 posts
62 months
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I started my own business recently and the first thing I put o. My wall was "I want a life of if onlys, not a life of what if's"
I'd go for it!
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V8mate
34,941 posts
58 months
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951TSE said: I would go for option 2 although I would temper it by saying that it will be quite hard to go from a £45Kpa salary to living on your savings so I would start out doing the salvage evenings and weekends, if it really is your passion you will get good at it quickly although I would imaging that a lot of it would involve getting known in the trade and getting contacts you trust and who trust you, that sort of thing will not happen over night. You can then ease off on the current job. After you are sure you can make a go of it go to HR and see if you can job share on your current role, or see if there's a part time post you can move to or even if they will let you have a 6 months sabbatical.
That way you will still have a regular income as a safety net, it will also give you time to plan out exactly what you want to do and you can use your current skills to draw up a business plan. For instance will you be a sole trader or a ltd company, where will you trade from, what sort of vehicle do you need, will you do your own books or will you employ an accountant and all the other myriad things you need to take care of.
Good Luck, it's still the best feeling in the world working for yourself. An architectural salvage business needs time though. Time out bidding for stuff, time pulling stuff out sometimes, time moving stuff back and forth, and time delivering for some customers. And being around when those customers want to come and view/browse. Tough gig when you've already got a 60 hour a week job. Just saying.
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russ_a
1,386 posts
80 months
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Hand your notice in tomorrow and go for it. If it goes tit's up you can just get another job!
I got a 10k redundancy payout when I was 28 and pissed every penny up the wall. Really regret not starting a business up.
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fridaypassion
2,313 posts
97 months
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45k is a good headline figure but if you are working 60 hours a week for it thats actually a pretty poor salary.
If its affecting your health just quit. Lifes too short. If you have a good idea for your own business and you have no family ties/mortgage then you are a fool if you stay on a treadmill you hate. (I say this in an encouraging way!)
If you had come on saying you have 3 kids and a wife and a bank manager to keep happy then that does put a different slant on it. Thats the reality for a lot of people but if you dont have the ties you are free to do what you want. So do it while you can!
I wish you well, get your notice handed in and leave the slaving away to the guys with the kids and car loans. Keep us posted on progress.
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nibble
5 posts
13 months
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Plan it and do it. Sometimes just knowing you're leaving a job can make the last few months easier.
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CrabDan
568 posts
12 months
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Do it! I too worked in retail management for an uncomfortably long time and it was absolute dog sh*t...
Then I f*cked off and joined the Armed Forces - Something I'd been thinking about doing since I was a teenager - and I'm loving it (mostly).
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Stu R
19,535 posts
84 months
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If you're working 60 hours a week on your proper job, you'll fast lose enthusiasm for anything on the side IMO - partly because you'll get frustrated at it not taking off quickly because you don't have the time to devote to it, and partly because on a 60 hour week, I expect the last thing you want to do is more work.
You'd certainly be in the minority if you started your own business and reduced your stress levels at the same time, but go for it if it's what you really want to be doing. Just be aware that unless you can devote a decent chunk of time to it you'll probably be lining yourself up for further frustration at slower development and growth than you'd wanted. But I guess if you're just getting started with a bit of buying and selling on the side it'll be easier in that respect.
Try a bit of trading on the side and see what you think, just don't expect it to develop too quickly without time invested.
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Mr Overheads
1,009 posts
45 months
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Ask to go part time now due to depression/stress then get salvage off the ground ASAP. As soon as you feel ready, quit the p/t role and do salvage full time. Don't stay in a job for 12 months just to get your year end bonus, you have 10k savings to get you going.
Or just quit now, sounds like your job is really the root of your problems, at 28 with no commitments as said above if £10k runs out and salvageisn't working, get another job. Perhaps with a salvage firm.
Go for it.....
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mylesmcd
1,169 posts
88 months
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The very fact you have posted this means you want some one to tell you to do it. You have to need to do it, then you will. If you try and start another business, while working your job, neither will get your full attention. By all means, buy and sell a little. Gain some industry knowledge, but when you make the jump, make sure you do it completely!! go for it. lives too short to be boring! 
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inspireme
Original Poster
26 posts
11 months
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Guys,
Thanks a lot for your replies.
I was on shift last night and caught up with your responses. Most of which are pretty unanimous. It was also a chance to reflect, whilst at work, of how much I dislike my work.
I now need to start putting a plan together, both an exit one from work and a business one, I really need to weigh up just how far £10K will take me - I'm sure in the near future I'll be asking for help with putting realistic costings together etc.
Funnily enough, as I was getting ready for work I caught a new series on ITV about a reclamation yard in Preston. Interesting.
One thing though last night is that I did feel a bit more positive in myself, a bit excited, knowing that this isn't what I HAVR to do. That there are alternatives.
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-DeaDLocK-
3,287 posts
120 months
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I will add to the voice saying that life is too short to do what you hate, and not long enough to delay doing what you love.
Basically, go for it.
However, would suggest a good effort of diligence on your part to determine how much this business will take to start up, how much cash you will need at a bare minimum to survive for a year if it all goes tits up etc. This way you go in with your eyes fully open and you are prepared for the worst. Even if it means sticking with your current role for the next year or so to save some dough and give yourself time to explore the options, at least you have a clear goal in sight then, instead of just aimlessly driving into work everyday.
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