Anyone ever consider starting their own shop?
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Yes, if you have clients it’s the best thing you could ever do. Unlimited earning potential.
I considered it, but decided to keep everything online for now. Financially, it just made more sense, and allows me a lot more flexibility.
Do you mean a physical location? If so, yes, I have been thinking about that. Right now, all services are virtual, which is great for my overhead. But sometimes it makes more sense to have a location where I could be meeting with clients.
I had a small agency when I was in my 20s with two partners. A few million dollars in billings. Some decent work. After five years of disagreeing with my partners, I cashed out and went freelance. Had our first child and moved to a remote location. Ended up working/commuting full-time for an agency for a while and then left that to start something new. I always considered starting another agency, but the way things are today, it’s just so much easier to go solo and bring good people in when needed. At this point I’m too old to scale anything. And I don’t feel good about making money on the backs of cheap, young labor. So being solo works for me.
Started one 6 years ago. It’s a slog with an infinite appetite for your time. If you don’t personally have an industry profile that attracts 6- or 7-figure RFPs, the reality is your revenue will most likely come one 4- or 5-figure project contract at a time. Not the easiest business on your nerves.
At the same time, if something’s broken, you can fix it. If you want to do something differently, you can just try it. You can say no to work—-though at some point, you’ll inevitably find yourself choosing between taking a job you know will suck and not taking a paycheck that month.
Worth it, on balance. But lots of trade offs to be think about!