Howdy Ags,

My little girl was born a month ago, and my paternal instincts have kicked in. Specifically the ones about making a lot of money so she can have the nicer things in life.

I'm currently working a standard 40 hour a week job in Houston as a process engineer, and that's providing for a fairly strong base income. My wife doesn't have to work and can focus on taking care of our daughter.

Obviously, I'm not going to be able to launch an engineering business in my spare time. That's a full time job for dozens of people with very deep pockets. I'm wondering if anyone has any experience in launching a small start up in your spare time?

Or alternatively, is such a venture not feasible? Would I be better off setting up some algorithmic options trading instead?

752bro4 said:

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Don't do anything like start a company or do a side gig while you've got a newborn. These next few years are so great as a parent, and spending time with your daughter, and being able to relieve your wife from time to time is far far far more valuable than trying to make an extra buck. If you make enough to have your wife stay home, you can put this off for a while.

I'm not saying it's impossible, but soak up this time. You'll never get it back.

/father of a 3 year old with a SAHM

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True, I suppose I'm letting recency bias do the talking here. My nights and weekends since she was born have consisted of changing diapers, cooking, and trying/failing to calm a screaming gassy baby. But I've heard that phase only lasts until about 3 months.

Buy 5 bitcoin. Let that investment work for you and not the other way around, and enjoy the extra time with your wife and daughter.

Thank me when it's worth $2 million, with a gift card to Carter's Country or Brennan's of Houston.

are you wanting to start a business on the weekends to work on the weekends in addition to your regular job? or start a business so it can replace your regular job?

If you're good at what you do and like what you do and what you do could be converted into a business (engineering consulting I guess)...

then work on doing that by yourself and build it little by little and then you can leave your job and go fulltime with it.

When I started my own company, I just did it. I started it working in consulting using the skillset I learned working for a company.

In this case I was doing a project for a customer of my company. I walked into the office of the director at the customer and asked if he would be interested in hiring me contract. This was toward the end of a major project. He hired me contract and the rest is history.

The first year, i only worked 30 hours per week, until I sold a new project with another company.

But I still made more $ than my regular job, because I had a good hourly rate.

That was in 2002. In 2017 and 2018 my company did the largest ERP implementation for an oil and gas company.

If you're thinking about staying with your company and doing something on the side, I wouldn't do it.

To me, its not worth losing the time that could be spent with your family.

Stmichael said:

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Howdy Ags,

My little girl was born a month ago, and my paternal instincts have kicked in. Specifically the ones about making a lot of money so she can have the nicer things in life.

I'm currently working a standard 40 hour a week job in Houston as a process engineer, and that's providing for a fairly strong base income. My wife doesn't have to work and can focus on taking care of our daughter.

Obviously, I'm not going to be able to launch an engineering business in my spare time. That's a full time job for dozens of people with very deep pockets. I'm wondering if anyone has any experience in launching a small start up in your spare time?

Or alternatively, is such a venture not feasible? Would I be better off setting up some algorithmic options trading instead?

---

I have a friend that started his own engineering consulting business years ago. He does vibration analysis for large structures.

Nice

txaggieacct85 said:

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Stmichael said:

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Howdy Ags,

My little girl was born a month ago, and my paternal instincts have kicked in. Specifically the ones about making a lot of money so she can have the nicer things in life.

I'm currently working a standard 40 hour a week job in Houston as a process engineer, and that's providing for a fairly strong base income. My wife doesn't have to work and can focus on taking care of our daughter.

Obviously, I'm not going to be able to launch an engineering business in my spare time. That's a full time job for dozens of people with very deep pockets. I'm wondering if anyone has any experience in launching a small start up in your spare time?

Or alternatively, is such a venture not feasible? Would I be better off setting up some algorithmic options trading instead?

---

I have a friend that started his own engineering consulting business years ago. He does vibration analysis for large structures.

---

Consulting did come to mind, but consultants are subject matter experts in a particular field and have the resume to back that claim up. 5 years total experience across 3 jobs in different sectors does not an SME make. Maybe someday, but not today.

Stmichael said:

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Howdy Ags,

My little girl was born a month ago, and my paternal instincts have kicked in. Specifically the ones about making a lot of money so she can have the nicer things in life.

I'm currently working a standard 40 hour a week job in Houston as a process engineer, and that's providing for a fairly strong base income. My wife doesn't have to work and can focus on taking care of our daughter.

Obviously, I'm not going to be able to launch an engineering business in my spare time. That's a full time job for dozens of people with very deep pockets. I'm wondering if anyone has any experience in launching a small start up in your spare time?

Or alternatively, is such a venture not feasible? Would I be better off setting up some algorithmic options trading instead?

---

I don't know you or anything about you, but I think your heart is in the right place (nicer things in life for your daughter). As others have mentioned, the time spent with the child and your spouse would be much more valuable than time spent on a second job. And the time spent together is giving her one of the nicer things in life.

As far as money to use to give her the nicer things in life, I'd look though how money is being spent now and see if there aren't some things that could be cut back or done away with and use those savings to provide funds for this.

Agree with this 100%.

However, now is a great time to read and study so that in 3-5 years you can have a plan for what you want to do. When you're ready to "shoot your shot", you'll be confident that you've examined every possible angle and thought everything out as thoroughly as possible. It will also give you time to network and do the people side of things depending on what route you decide to go.

Don't get a side gig and instead be home with your wife and baby. You're entering very rich days ahead.

Brothel?

redaszag99 said:

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Focus on what you can do at your current job to set yourself up to make more money and advance your career

Go back to school?

Work more hours?

Kiss ass/Network?

---

Getting really good at your current job will probably return more in terms of job security and income.

Outside of work study new processes. Learn the latest in your field. Focus on being on top of your game. Study material, learn new tools, find ways to increase your output.

Learn skills other employers will find valuable so you can easily get a new job if your current company struggles or doesn't have good opportunities for you.

Being really good at a niche field pays well.
I didn't realize this until I was in my 30s, but being an employee can be a great business to be in. But you have to seperate yourself.

I'm at a point now where I'd rather just get better as a technical professional and that is going to serve me better than spending years trying to start a business that may or may not succeed. But I'm nearing 15 years of experience in a niche field and with some luck combined with preparation and taking some career risks I've been able to double my income since 4 years ago.

I believe if most people made it their goal and took the necessary steps, they could also double their income in 5 years (assuming they're starting from average).

I'd ask yourself what that path looks like for you. It's especially doable if your early to mid career.

There is obviously a limit on what you can earn unless you get into the executive ranks.
But compared to starting your own business the landscape is a lot more predictable, and hours are often fewer and less stressful, which is something that is hard to put a price on.

If you want to sacrifice everything for money and be really rich then yes taking some risks on your own businesses is probably the best path, but usually business owners are sacrificing family relationships and time for their business.

And if it's going to be a "part time" business then it'a probably not going to be worth the effort compared to getting better at what you're already good at and increasing your salary by homing your skills and performance and maybe finding a new employer.

I've also worked for a few venture backed start ups and you can't set one up in your "spare" time. Founders often work the most hours for the least pay for years.

Also, trading isn't a profitable part time side gig. Just put that one out of your mind right now. Not worth the risk to even attempt.

bmks270 said:

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redaszag99 said:

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Focus on what you can do at your current job to set yourself up to make more money and advance your career

Go back to school?

Work more hours?

Kiss ass/Network?

---

Getting really good at your current job will probably return more in terms of job security and income.

Outside of work study new processes. Learn the latest in your field. Focus on being on top of your game. Study material, learn new tools, find ways to increase your output.

Learn skills other employers will find valuable so you can easily get a new job if your current company struggles or doesn't have good opportunities for you.

Being really good at a niche field pays well.
I didn't realize this until I was in my 30s, but being an employee can be a great business to be in. But you have to seperate yourself.

I'm at a point now where I'd rather just get better as a technical professional and that is going to serve me better than spending years trying to start a business that may or may not succeed. But I'm nearing 15 years of experience in a niche field and with some luck combined with preparation and taking some career risks I've been able to double my income since 4 years ago.

I believe if most people made it their goal and took the necessary steps, they could also double their income in 5 years (assuming they're starting from average).

I'd ask yourself what that path looks like for you. It's especially doable if your early to mid career.

There is obviously a limit on what you can earn unless you get into the executive ranks.
But compared to starting your own business the landscape is a lot more predictable, and hours are often fewer and less stressful, which is something that is hard to put a price on.

If you want to sacrifice everything for money and be really rich then yes taking some risks on your own businesses is probably the best path, but usually business owners are sacrificing family relationships and time for their business.

And if it's going to be a "part time" business then it'a probably not going to be worth the effort compared to getting better at what you're already good at and increasing your salary by homing your skills and performance and maybe finding a new employer.

---

I think the last few years have showed us that you can be the highest performer at your job in a "safe" industry, but your job can still be eliminated for reasons outside of your control (low oil prices, covid, company stock crash, recession etc). Job security is very low for many folks out there, lots of layoffs, lots of uncertainty.

Its smart to have other sources of income in the event that you get laid off. For many folks, its not a matter of if they will get laid off, its when.

Look at things you are passionate about. Even if you don't make money, it will feed your soul in a positive way and spillover into the rest of your life. And chances of making some money are better if it's not a grind in your off hours.

my answer to that was to have a marketable and transferable skill set. a skill set that was niche and had plenty of market demand.

I saw friends in middle management with oil and gas companies get laid off and their skill set was middle management.

Other companies already have their own middle management

txaggieacct85 said:

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my answer to that was to have a marketable and transferable skill set. a skill set that was niche and had plenty of market demand.

I saw friends in middle management with oil and gas companies get laid off and their skill set was middle management.

Other companies already have their own middle management

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A skillset is marketable and transferrable, until it isn't. Look at software developers in tech right now who have been laid off and are struggling to find a job. Their skillset was in demand until tech started laying everyone off.

Stmichael said:

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True, I suppose I'm letting recency bias do the talking here. My nights and weekends since she was born have consisted of changing diapers, cooking, and trying/failing to calm a screaming gassy baby. But I've heard that phase only lasts until about 3 months.

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You are in for a surprise. Maybe the gassy part changes but it will just become something else that you will be handling. Purple sleep, teething, sleep relapses, etc. Then you graduate to a toddler/threenager.

I am in the process of starting a fairly niche oil and gas service company while being fully employed. I have two young kids. I enjoy working for the company I am at, it is more money than I have ever made, but there is this ever present thought in the back of my mind about being my own boss and leaving a (hopefully) successful company to my kids one day. Whether they want to own and run the business or sell it is up to them.

As of now, I am scheduled to be in the field and work on Christmas Day for the next 6 years. I don't like even thinking about it to be honest. I have saved up enough money to buy the drill truck I need to get started & hopefully only have a few more Christmases away from my family before I am established enough to be self employed and not working for the man. Or that is the goal any way.

I think you really need a spouse that is fully on board with your goals/dreams/aspirations to make things work. If they are constantly doubting you it could go bad for your marriage in a hurry. Once my wife could grasp the concept of what I am planning on doing, which took lots of explanation and convincing, she now backs me 100%.

Dirty-8-thirty Ag said:

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I am in the process of starting a fairly niche oil and gas service company while being fully employed. I have two young kids. I enjoy working for the company I am at, it is more money than I have ever made, but there is this ever present thought in the back of my mind about being my own boss and leaving a (hopefully) successful company to my kids one day. Whether they want to own and run the business or sell it is up to them.

As of now, I am scheduled to be in the field and work on Christmas Day for the next 6 years. I don't like even thinking about it to be honest. I have saved up enough money to buy the drill truck I need to get started & hopefully only have a few more Christmases away from my family before I am established enough to be self employed and not working for the man. Or that is the goal any way.

I think you really need a spouse that is fully on board with your goals/dreams/aspirations to make things work. If they are constantly doubting you it could go bad for your marriage in a hurry. Once my wife could grasp the concept of what I am planning on doing, which took lots of explanation and convincing, she now backs me 100%.

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I told my wife I was going to work on my own. This was in June 2002 and we had four young kids.

Ages 7, 5, 3 and 1.

She thought I was crazy, but she supported me.

21 years later, she doesn't think I'm crazy anymore.

In my case, I had a background in working for Oil and Gas companies in Accounting and a few years in consulting with KPMG.

I was working on a project for a client and asked them if they would be interested in hiring me directly on a contract basis. It took them about 15 minutes to say yes.

I only worked about half time from June 2002 through December 2002.

But I've been fully billable since then and my company was the primary contractor on the largest ERP implementation for one of the largest Oil and Gas companies in the world.

I never regret being in business for myself. I figured I could always go back to working "for the man" as you say, if it didn't work out.

We also build our own software products for oil and gas companies.

But It wasnt a side gig or let me try it out over the weekend, I just went for it.

In your business, what you're doing make a lot of sense. I didn't need physical assets

txaggieacct85 said:

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Dirty-8-thirty Ag said:

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I am in the process of starting a fairly niche oil and gas service company while being fully employed. I have two young kids. I enjoy working for the company I am at, it is more money than I have ever made, but there is this ever present thought in the back of my mind about being my own boss and leaving a (hopefully) successful company to my kids one day. Whether they want to own and run the business or sell it is up to them.

As of now, I am scheduled to be in the field and work on Christmas Day for the next 6 years. I don't like even thinking about it to be honest. I have saved up enough money to buy the drill truck I need to get started & hopefully only have a few more Christmases away from my family before I am established enough to be self employed and not working for the man. Or that is the goal any way.

I think you really need a spouse that is fully on board with your goals/dreams/aspirations to make things work. If they are constantly doubting you it could go bad for your marriage in a hurry. Once my wife could grasp the concept of what I am planning on doing, which took lots of explanation and convincing, she now backs me 100%.

---

I told my wife I was going to work on my own. This was in June 2002 and we had four young kids.

Ages 7, 5, 3 and 1.

She thought I was crazy, but she supported me.

21 years later, she doesn't think I'm crazy anymore.

In my case, I had a background in working for Oil and Gas companies in Accounting and a few years in consulting with KPMG.

I was working on a project for a client and asked them if they would be interested in hiring me directly on a contract basis. It took them about 15 minutes to say yes.

I only worked about half time from June 2002 through December 2002.

But I've been fully billable since then and my company was the primary contractor on the largest ERP implementation for one of the largest Oil and Gas companies in the world.

I never regret being in business for myself. I figured I could always go back to working "for the man" as you say, if it didn't work out.

We also build our own software products for oil and gas companies.

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Gotta risk it to get the biscuit. I am glad to see that you believed in yourself and that it has paid off. I plan on writing a similar success story.

OP: find something that you enjoy doing and go for it!

As far as leaving to my kids, all of them are doing something else.

My uncle, an Aggie baseball player from the 1940's, started his own very successful Oil and gas service business in the 1970's

He was once offered over $20 million back in the 1980s to sell his company to a major service company.

He declined. He should have taken it.

His two sons we're active in the business, but it's now defunct and the grandkids are doing something completely different.

My cousin was a QB on a late 1970's Aggie team. He was a backup and mostly having a good time.

But my cousins always had a lot of cash running around.

I was just satisfied I was able to send all four kids to private schools, paid for their Aggie degrees (still paying since my youngest is a senior) and gave my three oldest kick start $ after graduating.

I paid for one wedding and have two to go.

Petrino1 said:

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bmks270 said:

---

redaszag99 said:

---

Focus on what you can do at your current job to set yourself up to make more money and advance your career

Go back to school?

Work more hours?

Kiss ass/Network?

---

Getting really good at your current job will probably return more in terms of job security and income.

Outside of work study new processes. Learn the latest in your field. Focus on being on top of your game. Study material, learn new tools, find ways to increase your output.

Learn skills other employers will find valuable so you can easily get a new job if your current company struggles or doesn't have good opportunities for you.

Being really good at a niche field pays well.
I didn't realize this until I was in my 30s, but being an employee can be a great business to be in. But you have to seperate yourself.

I'm at a point now where I'd rather just get better as a technical professional and that is going to serve me better than spending years trying to start a business that may or may not succeed. But I'm nearing 15 years of experience in a niche field and with some luck combined with preparation and taking some career risks I've been able to double my income since 4 years ago.

I believe if most people made it their goal and took the necessary steps, they could also double their income in 5 years (assuming they're starting from average).

I'd ask yourself what that path looks like for you. It's especially doable if your early to mid career.

There is obviously a limit on what you can earn unless you get into the executive ranks.
But compared to starting your own business the landscape is a lot more predictable, and hours are often fewer and less stressful, which is something that is hard to put a price on.

If you want to sacrifice everything for money and be really rich then yes taking some risks on your own businesses is probably the best path, but usually business owners are sacrificing family relationships and time for their business.

And if it's going to be a "part time" business then it'a probably not going to be worth the effort compared to getting better at what you're already good at and increasing your salary by homing your skills and performance and maybe finding a new employer.

---

I think the last few years have showed us that you can be the highest performer at your job in a "safe" industry, but your job can still be eliminated for reasons outside of your control (low oil prices, covid, company stock crash, recession etc). Job security is very low for many folks out there, lots of layoffs, lots of uncertainty.

Its smart to have other sources of income in the event that you get laid off. For many folks, its not a matter of if they will get laid off, its when.

---

Yes, but if you've been developing new in demand skills for this contingency you'll be okay.

Most people I know have been laid off.
I've been laid off, and started a new job in 6 weeks, and had final round interviews at 4 companies which I canceled due to taking the offer from my first choice who also offered me first. And another opportunities popped up I didn't expect so I left that job, which I loved, only after a few months for another opportunity I just couldn't refuse.

I had these opportunities because I studied hard outside of work to build up the needed knowledge to succeed in interviews and on the job. I bought college text books and read the chapters and worked problems from the book at my own direction. When I got hit with technical questions in interviews I was prepared. I also taught myself some basic programming skills which helped set me apart and became a crucial in demand skill for many employers.

My wife was laid off and had two job offers within two weeks because she was already looking.

Multiple income streams are great, but having one reliable high income stream is to often dismissed. It can be a more efficient use of time compared to building up two in different areas where you can't be great at either one due to splitting your focus. I think people under estimate their earning potential if they made it their goal.

I acknowledged there is some luck, but I knownI could find a new job if my current one disappeared. I'm actually at a startup with a high chance of failure, I've worked at a few now. But I'm not afraid of having to find a new job. Small companies and startups I find way more rewarding than huge corporations. And as you pointed out, big established corporations don't necessarily offer more job security.

As a process engineer, it seems that starting a business related to bi strategy on nights and weekends could be a great option. You can offer consulting services to help businesses optimize their data analytics, implement effective bi strategies, and drive data-driven decision-making. This can be done remotely, providing flexibility to balance your current job and entrepreneurial aspirations.

Mobil dog grooming/ washing. Several different ones work in our suburban neighborhood and are booked months in advance for the one hour appointment. The ones my wife uses are a husband/ wife team with a nice a/c trailer they pull behind a pickup. They park and work in front of our house.

Going by what they charge, they make at least $ 1,000 per day. Ours is done every two months and it's worth the premium to not have to take him across town to drop off and pick up later in the day.

Stmichael said:

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Howdy Ags,

My little girl was born a month ago, and my paternal instincts have kicked in. Specifically the ones about making a lot of money so she can have the nicer things in life.

I'm currently working a standard 40 hour a week job in Houston as a process engineer, and that's providing for a fairly strong base income. My wife doesn't have to work and can focus on taking care of our daughter.

Obviously, I'm not going to be able to launch an engineering business in my spare time. That's a full time job for dozens of people with very deep pockets. I'm wondering if anyone has any experience in launching a small start up in your spare time?

Or alternatively, is such a venture not feasible? Would I be better off setting up some algorithmic options trading instead?

---

You cannot start a business in your spare time. Not a real one. If you can truly create an algorithm to trade options do that.

Congratulations on the arrival of your little girl! It's natural to want the best for your family. Starting a small startup in your spare time is indeed feasible, but it can be a challenging endeavor that requires careful planning.
Consider your strengths and interests. If you have a passion or skill that aligns with a business idea, that can be a great starting point. Also, look into the time commitment required for both options: starting a small business and algorithmic options trading, to determine which suits your lifestyle better.
Just like in any venture, it's crucial to research thoroughly and perhaps even seek advice from experts in the field, similar to how compliance is essential in the cannabis sms business. Ultimately, the right path will depend on your goals, resources, and personal interests. Good luck with whichever path you choose!