How many of you part time ANG/AFRC guys have your own companies and what do you do?

[bb17]

Currently enjoying great success with a career in engineering but going to UPT soon. I don't plan to return to a full time engineering career and I desire to get away from the M-F 8-5 grind but still need to earn some coin and have some ambitions I'd like to act on. So, I think I will start my own small consulting company taking on small projects and performing consulting in my free time. Anybody else have their own business? What do you do and how do you balance it? Would appreciate any experience you could share, even if it's in a totally different field. Thanks! 

Edited February 15, 2016 by bb17

[Marco]

It's harder than you may think. Find a mil-friendly employer first, then consider     dipping your toe in the entrepreneurial waters. You'll have enough on your plate going through your initial seasoning and subsequent upgrades once you get back to your unit. Just my dos pesos, but I ran my company for a year and a half while also being AGR before I made the plunge and decided to cut the cord on my orders and go back to being a part-timer. Most people in my unit thought I was nuts (was previously 8 years temp AGR and was just handed a set of full-time AGR orders that would have carried me thru retirement).

At the end of the day, like anything worthwhile, you have to decide what's best for you and your own situation.

It has been difficult at times, but is not impossible to do, hence my advice to get another job first. You can still consult while working for someone else as long as your employment agreement does not prohibit it.  One thing you'll realize is that it helps to have those multiple income streams to either pay for unexpected expenses or that super-nice vacation.

What's your engineering background? What's your location? I'm always hiring engineers. Good luck with whatever you decide to do.

[bb17]

I appreciate the feedback. I've been practicing as a civil engineer for about 9 years and I actually just became the VP in my firm! So I feel like I do have a good base of experience to work off of. So while I'm working my butt off all week, long term I cannot see myself being in an office as much as I am. 

In fact, yesterday we just brought a guy on board for some part time contract work in the manner that I described above and it seems like a good situation. Lots of flexibility and there is quite a bit of demand so he basically has his pick at projects. I talked to him at length about how he operates and he said it did take more effort that expected to get things rolling but seems like things are steady for him now.

I feel like I'm in a pretty good situation, my wife is also an engineer and earns as much as I do currently. I feel like her steady income, along with my part time reserve income will allow me the security and flexibility to pursue my part-time consulting endeavors without a whole lot of risk.

If that doesn't work out I suppose I could get a normal job at a normal company, but in all honesty I am hoping to get away from that kind of life!

Hopefully I am not being overly optimistic but by looking at the facts I think it could work out okay. 

Edited February 17, 2016 by bb17

[Marco]

You certainly are a bit further down the road than most, like those straight out of school and think that Mark Cuban is waiting to lend them a boatload of cash. Like I said, and what was echoed by the gentleman you referenced, there are challenges but nothing insurmountable. I'll save the rest for PM. Cheers!