Taking the leap? Big growers, chime in please!

[Lazyman]

Man, I'm so pissed I don't know where to start. I've been working for this company for a day job for almost ten years, and the owner is a real douchebag. I bring in around 50% of the companies revenue, and he keeps cutting my pay.

Now today he sends me this new contract to sign, which cuts it back so much it's absurd. If I wanted to work for a straight draw and shitty commissions, I'd sell used cars!!

I want to quit, but have held onto the job just for the stability and because it looks good on my credit report. Now I have started paying taxes on my Collective income, and am reporting income to the IRS for "consulting" that at first added to, now exceeds my "day job" revenue. But I was planning on buying a house next spring, and 2 years of self employment probably doesnt look as good as ten years of W2 employment, right?

I have the basement grow which is doing alright, not getting the yields I want but I just went in halves on another 10K indoor, and halves on a ~120 plant outdoor. I'm also looking at setting up another 8K indoor elsewhere, and have a decent side business in honey oil. I'm also talking with an investor about starting a legit company or two (fuck I'm lazy! )

So, if I can deal with the loss of a stable paycheck, and my income numbers are ok, how do I take that leap of faith to jump out of the business world and into weed-only (at least, for the time being.)

Any perks to being out the legit business world? I guess I can't get unemployment if I quit, and I wouldn't go on food stamps or whatever cause I'm way too proud (and don't need it anyhow.) It would be nice to have more free time, and to sleep in. Losing $50-60K a year (gross) will suck though, damn.

Any helpful thoughts or tips appreciated, thanks all!

 

[olddirtybastard]

Try not to think of it as losing 50k a year gross pay, instead think of it as gaining 50k a year in additional yields now that you have more time to invest in a line of work that is far more lucrative than sitting in a cubicle.

Also I don't understand why you would have a difficult time getting a home loan these days, it was quite easy for me and I do not look as good on paper as you do.

 

[OrganicOzarks]

Take the leap!
Regardless of what business you get into for yourself, I would say do it. I have been self employed my entire adult life, and I do not think I could actually work for someone ever again. I am not employed via cannabis businesses, but I am. That being said, there are a lot of ways for you to make money off of cannabis. You obviously can handle growing. You also are lucky to be in a med State. This sounds like a no-brainer to me. It is scary to start your own business, but once you do it you will look back and say, "what the fuck took me so long". People need tinctures, oils, clones, grow room build out consultants, bud it's self, and anything else cannabis related. It sounds like to me you would easily be able to make up the 50k with all of the extra time you would have. This is a positive step you want to take. As far as buying a house goes; you can get a loan with an ass load of w2's, or you can get a loan with 2 years self-employment history. It doesn't make a shit. You will get the same rates either way. DO IT!!!!!!!!!!!!!!

 

[Lazyman]

Thanks guys, I guess I just need some reassurance from those of you "livin the life" that everything can work out fine.

 

[kmk420kali]

5 years ago, I had a pretty successful painting company-- Then I got an offer to work for a long time friend, doing some construction on his outdoor greenhouse grows-- I went ahead and did it, thinking it was just a "Temp" job...but I wanted to work around weed!! lol
I started studying and reading everything I could about growing...I had been growing small time in my backyard for a few years already...and it seemed to just engulf my life--
5 years later...I am still working for the same guy now, but I am the grower at the now 6000 sq ft greenhouse...and they are talking about expanding it again soon-- I get my $150 a day pay, plus 5% of the crop (100 pounds, twice a year)-- I love it!!
My goal is, to get my own property soon, still work for him, and start my own greenhouse-- I consider myself "Retired" now, as tho it is a lot of work, it is nothing compared to running a Company!!
The main thing I have realized, is with the dropping prices of weed...doing indoors does not cut it-- Greenhouse/outdoors is the way to go....it is cheap enough to grow, that you can make good $$ at wherever the Market decides to go--

 

[Weird]

mirrors where i was at the end of the 90s

cultivate your faith and embrace the weed but understand living by the seat of your pants successfully requires a whole lot of balls

if you do this with an open mind you will learn to observe the true nature of your plants and it will radiate to an understanding the cause and effect of the human dynamic

it can teach you the true meaning of karma

 

[RudolfTheRed]

read julians thread on the outdoor grow forum titled massive outdoor grow.

there is also a massive indoor commercial grow thread that is a little older but still has good info provided by yours truly... julian.

the man provided an encyclopedias worth of info....

it has everything from how to handle your money, buying property, growing, security, etc. etc. etc.

you name it the man provided info about it.

 

[funkervogt]

I know you're talking about growing, but...

I had a great position in a well-paying job. I was a high performer. I quit. When your job needs you more than you need them, its time to leave, either independent or to a better employer.

I'm currently part time with my former employer as a contracter - I make twice as much as I used to as full time (after taxes). And guess what? My rates are going up and I have more requests for work than I can fulfill. I also have a number of ventures on the side that are beginning to make some dough as well. Takes time and work, but it will happen.

If you're good enough to bring in most of their business while you're with them, then you're good enough to do it solo.

I'm guessing you can do plenty well with your hobby as well

 

[Trinity Gold]

Why don't you just keep your job till you find the place you want and can use it on your loan application (honestly fuck a bank and a loan..Owner Will Carry are some MAGIC words..) then quit and just be a consultant?

 

[iSMOKE.KUSH]

it'll work. trust me....just gotta keep expanding. look into new opportunities, and always middle man as much shit as you can.

 

[InsanityRules]

Damn bro if your that much of the company they should be kissing your ass!!!! I'd leave myself. Like already posted you'll easily make double the lost income with your talents focused in a new direction. The self worth from being successfull in YOUR pocket should make ya look back n smile. I'd say go for it! Hell, two years of savings from your own ventures would be a killer down payment on a home! Now's the time to leap if your gonna go for it!!!! You won't get better interest rates. it's a buyers market. If I had cash I'd be buying as much damn real estate as I could afford right now!!!!!

Best of luck and PLEASE come back n update later. I personally would like to hear how your doin!!!!

I.R...

 

[TwoOhSix!]

Get the fuck out of the rat race and into full blown entrepreneur mode! From what I've seen from your threads you'll have no problem making it.

I run a painting company and I could never work for someone else again... I haven't been a wage slave since I was 18.

 

[Lazyman]

Man, I wish I could hang out with you guys, positive people are so nice to be around. in other words, thanks a bunch, you have really made me feel better about doing this. Fuck my boss, I'm quitting!

 

[paladin420]

Hey My Fellow LMan,
Pertty much was just You. Not so much $$$, and not so much 'on the grow' as you. I JUMPED!! It's all still in the air, I may step on my Dick and piledrive but WTF!! THIS IS THE FIRST TIME I GET TO BE ME!!! IN ALL MY GLORY!!! DO IT!!


Oh and try to fuck your present boss out of unenjoyment or whatever you can on the way out. It's the princible don ya kno

 

[paladin420]

PS I am Lazy. I have never worked this hard in my days. Lovin almost every minute

 

[ChaosCatalunya]

Man, I wish I could hang out with you guys, positive people are so nice to be around. in other words, thanks a bunch, you have really made me feel better about doing this. Fuck my boss, I'm quitting!

I would just simply explain to him how you are less and less happy there, you produce 50% of the revenue and unless the contract goes a very long way in the other direction then you will be moving on. If possible, hint that a rival has made you a generous offer. He has acted like an arsehole, so time to start treating him like one.

He may not agree and you may leave anyway, but you will feel better, but if it works, you have a 50% pay increase and matching credit score to go see the mortgage man with.

If you do get caught growing, it is always, IMO better to be a rich businessman who happens to grow pot than a big time pot producer with no excuses for al the cash and assets he or she has.

Good luck either way.

 

[Marquis de Sod]

if you have less than three years in your own company you will not get a bank to give you a home loan! you can change employers and if in the same line of work the bank thinks of it as continuous, so i would also recommend to you that you go to your competition and ask them for a job.

i can not say one way or the other about growing full time. i have a hard enuf time hiding the 200 a week i make. i get audited every time i blow my fucking nose.

 

[Lazyman]

My CPA (who thankfully is also a mortgage broker) told me that given my income at my day job (which used to be about double what I make now) coupled with a couple years of nice additions to my income shown on my tax returns, that my income history should be plenty good enough for a mortgage.

MDS, man I spend twice that a week on groceries! I pay cash for everything I can, and, well I won't tell ya what I do with the rest, too many pigs watching.

So I ended up sending my boss a long-winded email (I write better than I speak) and basically let him have it. Told him NO, I will not sign this new contract, and if you want to fire me just fire me.

I don't want to stay there til next year when I buy a house, I was hoping to but I would actually lose more money than I would make if I stayed under this ridiculous new contract. I work from home, and I have too much going on to get a new day job sitting 40-60 hours a week in some cubicle.

Cannabusiness is sometimes a 24 hour a day thing! I've had meetings from 8 AM to 3 AM some days, but you do what you gotta do.

 

[headband 707]

PS I am Lazy. I have never worked this hard in my days. Lovin almost every minute

NICE lol,,,

 

[Dankgravy]

I would just simply explain to him how you are less and less happy there, you produce 50% of the revenue and unless the contract goes a very long way in the other direction then you will be moving on. If possible, hint that a rival has made you a generous offer. He has acted like an arsehole, so time to start treating him like one.

He may not agree and you may leave anyway, but you will feel better, but if it works, you have a 50% pay increase and matching credit score to go see the mortgage man with.

If you do get caught growing, it is always, IMO better to be a rich businessman who happens to grow pot than a big time pot producer with no excuses for al the cash and assets he or she has.

Good luck either way.

Yup. I would have asked politely and professionally for a 100% RAISE. Worst case is he says no and you walk anyway..