I'm branching out (in a way) bored of work

Hallam is running a railway signalling one, I'm too old to benefit now.
Never too old until they are nailing down the box lid, me old son.

I wish you all the best at it.
 

ugly

LE
Moderator
I'd like to retire before I croak
 
I'm doing that pretty much anyway. When Eurostar was introduced I put 44000 miles on a car in six months visiting sites and signing them off.
I expect more time spent on trains for daytime visits and only driving for night time visits.
Yers I know I put some mileage in there as well, probable we didn't meet but I was on the Inaugural runs to Brussels and Lille and I still have some photos of Waterloo being constructed somewhere.Happy days.
 

clayp1g

War Hero
Good on ya big lad. Just try to leave some work for others...
 
Seven years since I went out on my own. Most of that time I was a consultant, mixing contract work, sole trader and through my own company. I'm an engineer, but much of my focus has been bids and proposals. Plus Ive done some FX trading. I always had a tinge of regret at walking away from a path to senior exec, but on balance it was the right thing to do.

This year I've changed sector. I mean big time changed sector. We're 9 months into a skincare business about to do an IPO. I'm 54. I've never been more motivated. I learn new stuff every day, meet people from very different backgrounds to engineering. You only live once; just do it!

My top tip for an engineer in his 50s. Do something else, preferably something where your customers are MILFs!
 

TheIronDuke

ADC
Book Reviewer
I'd like to retire before I croak
Personally I would like to croak before I retire. Watching Jeremy Kyle then a round of golf sounds worse than death to me.

Best of luck going it alone. A couple of points?

A consultant wakes up every day unemployed. Scary at first but if you are good, work will come.
Luck is a factor. I find the more phone calls I make, the luckier I get.
Look at the bits that are causing the big boys a headache. With your experience, ask yourself what is the simple solution. Dress it up and flog it back to them.
A consultant is a man who borrows your watch to tell you the time. Then invoices. Do not be shy with the invoice. PWC charge £1800 a day. £500 a day or £50 an hour seems fair?

Be lucky.
 

ugly

LE
Moderator
£550 a day plus vat is what I'm aiming for
 

ugly

LE
Moderator
Maybe worth getting professional indemnity insurance, just in case.
I had to once, I usually get a letter of authority granting me a level of authority. I won't accept a signed JD as adequate but getting the right level of indemnity without lying is prohibitively expensive.
 

TheIronDuke

ADC
Book Reviewer
£550 a day plus vat is what I'm aiming for
So £400 for cash? Sound.Make sure your clients can claim the VaT back? Theres some weird Not for Profit outfits who cannot.
 

ugly

LE
Moderator
its big firms and they need turning over, compared to what they pay for me through an agency its good vfm
 

TheIronDuke

ADC
Book Reviewer
but getting the right level of indemnity without lying is prohibitively expensive.
From memory I have £2m PI and £5m PL insurance. Costs about £300 a year with Hiscox. Best not to lie when those sort of sums are involved?
 

ugly

LE
Moderator
From memory I have £2m PI and £5m PL insurance. Costs about £300 a year with Hiscox. Best not to lie when those sort of sums are involved?
I got away with similar but the client wouldn't indemnify me so I refused to sign off anything that wasn't listed on my insurance.
cost me a post as they wouldn't renew the contract but frankly they were stupid and I milked the job as long as I could bare it.
life is too short to work for bitter petty narrow minded w@nkers
 

TheIronDuke

ADC
Book Reviewer
Will you be working with girly trains or proper trains? Like a DELTIC. God. It's been a while. DELTIC

 

ugly

LE
Moderator
behave you filthy gricer signalling works so much better without trains irritating me
 

TheIronDuke

ADC
Book Reviewer
You need to watch this and learn. It will help you to be a consultant.

 

ugly

LE
Moderator
That's pretty much the railway I started in in 1989.
 

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