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Why My Business FAILED. What I learned.

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Hopefully you can learn some lessons from me that I had to learn the Hard Way.
Don't miss the Weld It Yourself Kits Kits drop coming soon. Ring that Bell!
Thank you to all the Patrons who support what I'm doing. If you'd like to support the channel, get discounts in my store, see videos early, and get access to my Bid Breakdowns where we discuss the real costs and final bid for each project, please consider joining at bit.ly/42Patreon You can also support the channel by shopping from the affiliate links below.
HTP Pro Pulse 220 MTS: 800usaweld.com...
Miller Digital Infinity Welding Helmet: amzn.to/2GYBQiX
My Magnetic Chuck: amzn.to/2C6o0dS Smaller: amzn.to/2Rf1avc
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Graco TC Pro Airless Sprayer: amzn.to/2JfjCyK
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My Soldering Station: amzn.to/2Ct8bMF and Heat Shrink Kit: amzn.to/2FbjL1I
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Special Thanks Shop Sponsors for providing Equipment for Demonstration Purposes. Tell them I sent you:
HTP MicroCut 875SC Plasma Cutter: 800usaweld.com...
Disclaimer: I work with sponsors to show you new tools sooner than my shop and video production would allow. All opinions are my own and presented without editorial input from sponsors. I may receive a commission on purchased made through these links.
For a sneak peek of projects to come, please join me at bit.ly/42FabIns...
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Опубликовано:

20 авг 2024

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Комментарии : 85

@mikep1085 Год назад

Great to see the metal/welding side is still going strong! We have one of your hexagon fire pits that my then 13yo daughter welded up. Its been awesome!

@theafro Год назад

business is hard! I've been a self-employed mechanic/metalworker for 4 years now, and I probably picked the worst possible time (for a brit) to go freelance, covid/brexit and the repercussions of the war in ukraine have made it extremely difficult, steel prices have doubled in the last year alone, and consumables are getting up there too. But somehow, I'm still here, and I don't think I could ever (by choice anyway) go back to the daily drudge of working for somebody else. Along the way, I've come to similar conclusions as illustrated in the video, but I'd put it a little differently; 1, Keep your overheads as low as possible, wasting time = wasting money (and vice-versa) and crappy tools are a great way to waste both! 2, Don't quote jobs like you need the work (even if you do!) there are more profitable ways to spend your time than busting your ass on a poor paying job. 3, Always have something to do. When your mainline work isn't there, make stuff anyway, either to sell or to make your shop a more efficient place to work, you can usually turn dead-time now, into saved time later 4, Invest as much as possible in your business, but only invest in things that will actually make you money or save you time. if you don't need it, think twice! 5, Divest too! get rid of useless gear or stock if it's not needed, and identify as early as possible when a project or idea is going to cost more than it makes. I'm still figuring this stuff out, but I know one thing for sure, nothing beats being your own boss and the worry and stress is totally worth it in the end!

@trod9524 Год назад

Excellent advice! Thanks for sharing. Merry Christmas, God bless.

@bartonrobinson4266 Год назад

Delightful to see your post Richard, missed seeing you and your passion for your work and the talent you have time to share. Take care stay safe and Happy Holidays!!

@LightningFabrication Год назад

Glad to see you back. I just went through the list of channels I'm subscribed to and yours is one that I hadn't seen a new video in awhile. Looking forward to some new videos.

@ChevyARt15 Год назад

I did the same thing. I deleted a whole lot of them but kept this channel.

@Spartanwing117 Год назад

Great to see you back. Took your advice and started up myself, It went wrong for multiple reasons and a lot of lessons were learned and I am currently regrouping to start again. Looking forward to more of your video's

@42Fab Год назад

I do not know a business person that got it all right the first time, but it's still cheaper than a college education!

@ocAToccd Год назад

Well... Isn't that a click bait? You really got me there buddy! Nice to get you back 😊

@jarodmorris611 Год назад

Is it clickbait if it was his previous business that failed?

@robthewaywardwoodworker9956 Год назад

Bro, you gave me a small heart attack! LOL Glad you're still chugging away! Great video.

@Jeremyisyourhandyman 5 месяцев назад

🔥 I’m feeling the pain of this. I’ve complained three decent jobs, but they all are paying 30 days out. So I have no money for materials for the next job. My business is so new, I don’t qualify for a business loan.

@timeisnow9855 22 дня назад

Had the same issue many years ago brother take deposit upfront and progress payment at day 2 to get you to 50% then remainder day of completion and cashflow is sorted. Took me years of suffering till a older bloke schooled me on this and he was my customer : ) keep grinding brother we tweaks away from being on the up and up!

@caneighbors7875 Год назад

Glad to see you back; was wondering a few weeks ago if you were still making content.

@ChevyARt15 Год назад

Well you gave us good and bad news. It is good to see you back online. I have been with you since you helped me with the curtain rods. I just went through the list of channels I'm subscribed to and I deleted a whole lot of them but kept this channel.

@brianshea5014 Год назад

glad to hear all is well

@stuffbenmakes676 Год назад

Good to see you back in the tubes mate. Hope you’re doing better now. Look forward to seeing future vids.

@BIGDADDY012341 Год назад

Bro !!! I'm so happy you're back !!! I started a business a few years ago and I leaned on your video's to get me started and in my eye's you're a God !! Welcome back and I'll be jumping on the patreon soon !!! Thanks again !!!

@42Fab Год назад

Wind that back a few steps bro. Glad to hear you're your own boss!

@BIGDADDY012341 Год назад

@@42Fab lol ok maybe a "God" is a little strong 🤣 But I sincerely appreciate your video's and knowledge !

@John_GGG Год назад

@@42Fab ha ha ha!

@Machin3Mad3Man Год назад

I was so happy to see a video from you. I missed them. I have been starting a business last couple of years and your videos help alot. But i also like to see you progress because you put the effort in and you deserve the rewards. Good luck to you and i hope to see more

@jennieanddavis Год назад

Hehe nice. Glad to see you back online! ❤🎉

@chopperhehehe Год назад

I second this comment to 👍👍👍😜🏴󠁧󠁢󠁳󠁣󠁴󠁿🦄🦕😁✌️🤞

@rosshog Год назад

Spoiler alert!! Clickbait!!! I’m glad to see you back and glad to see your 42Fab business is still going strong!!

@jarodmorris611 Год назад

I did the rocket stove build it yourself kit and thought they were 12ga. I was blowing through it until I realized it was likely 14 ga and I adjusted down. So, warning to others that weld the kits, measure the stock you get so you have no doubt about the thickness. It was a fun project. I still need to put the legs on it.

@socalwelder Год назад

DUDE! If it wasn't for you, I would have never bought my ProPulse 300, as you say "back in the day", glad to see your still around and working the business to best suit your needs, very cool.

@buildalifeworthliving4551 Год назад

Just got a PP300 they pump

@whutisthis Год назад

I'm so glad your back! Love your videos and can't wait to see what's to come

@matthewduhon Год назад

glad to see you back here, I enjoyed watching most of your videos but then realized they had just stopped for a bit

@davecochran7324 Год назад

Dude I missed you and Tommy So glad your still Alive and Kickin Keep the Faith Brother we are all still here behind you Rock On

@silveravnt Год назад

It's good to hear from you man.

@NextStop2030 Год назад

Good to see you back at. Failing forward is one of the best things about business. The moving to a new location sucks though.

@MRSketch09 Год назад

Thanks to youtube... even though I'm subbed, this video just "percolated" to the top where I noticed it.. Obviously I was pretty freaking surprised... but glad to hear the good news. 07:30 I am definitely curious about the Plasma Table... (B/c I've seen so many ads for Lincolns plasma table, so I'm surprised you didn't go with the red brand..? Lincoln)

@42Fab Год назад

FUCK torchmate tables. Proprietary is garbage for a reason. Lincoln I don't have beef with, but Fuck their tables

@neoc03 Год назад

You got me, but I've never been happier to have been fooled. I really couldn't foresee you go under with the way you operate.

@cavemanjoe7972 Год назад

Your type of comment makes me wish RU-vid had user awards.

@dark30welderwelding11 Год назад

Merry Christmas Wishing you and yours the best. Thanks for doing what you do best… being transparent.

@davebauerart Год назад

Good advice. Still trying to figure out what my business might be but I will remember this information.

@bigbird2100 Год назад

Great video 👍 A nice video on running a business.

@jstrunck Год назад

Glad to see see you guys are still at it!

@pamelah6431 Год назад

I appreciate you sharing things that hindered your success. This is my first year with my own business and there is SO much to learn. It's fine and well to know your craft, but knowing how to market and sell your craft is a different ball of wax, which our wise and benevolent "institutions of higher learning" don't think are valid components of education if you're in the trades. We're just supposed to be somebody else's talking monkey, I guess. Anyway, there are so many generous, helpful people on the internet sharing their experiences and insight, and I'm very thankful.

@cloudedmoon Год назад

Thanks for sharing. I got some good pointers out of it!

@emailausdrucker Год назад

Good to see you again

@richwaight Год назад

Nice Richard! Good to see you making content again pal. :)

@paramotortheory Год назад

Glad to see some new content on your channel!

@bpmunroe Год назад

Glad to see you are back

@anthonyrosipko6124 Год назад

Welcome back 🔥🔥

@The_BubbaHoTep Год назад

Great info and video, thanks for honesty and sage advice

@2LateIWon Год назад

You scared me but I should have known better

@chopperhehehe Год назад

I second your comment 👍👍👍😜🏴󠁧󠁢󠁳󠁣󠁴󠁿🦄🦕😁✌️🤞

@chopperhehehe Год назад

You have been missed Hope santa is good to you and family an friends 👍👍👍😜🏴󠁧󠁢󠁳󠁣󠁴󠁿🦄🦕😁✌️🤞

@TheKickstart89 Год назад

Let's talk about free shipping? $How much of that gets into your profit. Flat rate box or a flat rate envelope tell us some secrets

@samuraidriver4x4 Год назад

Add shipping price into your product price. Try and lure more sales in one go by setting a threshold at order for X amount to get free shipping.

@TheKickstart89 Год назад

@@samuraidriver4x4 Glad to see you're back. I was just asking your dad about a month ago what's up he said you were busy busy busy

@42Fab Год назад

"free shipping" is actually to the customer's detriment most of the time. If you order 1 item, the shipping is just included in the price and I don't mark it up other than accounting for packaging materials on a per-item basis. If you order 2 or more items you're paying for shipping multiple times, so, there I do pocket something extra. I'm doing away with free shipping soon

@jarodmorris611 Год назад

I can't help but notice that's not the same shop you were in 12 months ago.

@aussiegolddogcnc3d412 Год назад

Great video mate. Love what you do. Cheers Robert.

@42Fab Год назад

Thanks 👍

@victoraramburo2168 Год назад

Congratulations to you and your success! What CNC table do you recommend to just start off.

@42Fab 11 месяцев назад

ideally a local manufacturer, and the best you can afford

@jolson8739 Год назад

I am on my second business you don't fail you learn what not to do for the next try. the important thing is you keep trying

@royreynolds108 Год назад

And don't repeat what went wrong or did not work.

@jolson8739 Год назад

@@royreynolds108 that is hard to answer for any business. a lot of things need to go right in order for a business to be successful. that being said a lot of things can go wrong that lead up to failure. what works perfectly for 1 company might be the failure for another. learning each time what went wrong can only benefit you and your company. it's like asking what's a good price for a product your area and my area are not always the same goes for the markets in which you do business

@AE86silverredd Год назад

Just started following you and seen a bunch of vids the went to the channel and seen this vid … I was a bit sad for a bit .. 😂😂

@plasmaman9592 Год назад

Do you have any pointers on how to find the different mills that have ar500 and how to find out prices for different amounts? I probably spent 30 hours calling every single number I could find on Google and I only found one place that gave a discount based off of how much you order but they only had one level of discount which is still not enough for me to profit much on targets. There's companies selling targets less than I can get the steel for but I don't know how to find a supplier or Mill so that I can even find out how much I need to go through to get those type of prices

@42Fab Год назад

I haven't had luck either, gave up

@RustBeltFab_ Год назад

I’ve been waiting for some new videos. 🇺🇸😎🇺🇸

@jackvanwingerden3410 Год назад

You got me

@k-ris1921 Год назад

I was wondering where you have been all this time. i though something happened and you werent cutting metal anymore.

@MeanGreene87 Год назад

So did you start out doing repairs and then came up with products?

@42Fab Год назад

Nope, always been about products. Started making metal chicken coop frames, the furniture, signs, etc. I'll rarely turn down a repair job that walks in, but don't chase them.

@MeanGreene87 Год назад

@@42Fab you should look into making stuff for the medical field. There’s big money in that and on top of that you have the equipment to do it.

@BlockchainForWhatIsBest Год назад

Beside trying where did you succeed?

@42Fab Год назад

Expand?

@BlockchainForWhatIsBest Год назад

@@42Fab simple question. Where did you succeed? What did you do right? Expand.

@42Fab Год назад

I figured out all the ways I could how NOT to do things. I'm not sure how much of a novel you want, or appear to feel entitled to, but that's what you're going to get here, the rest can be found in my videos.

@jake-mv5oi Год назад

Clarification: your chicken coop business failed.

@scottdavis9442 Год назад

I wonder what happened to you

@veerababuveerababu7758 Год назад

I am good welder job vacancy hell I am India

@willharrell9617 Год назад

God never gives you more than u can handle 🙏 love ur videos

@chopperhehehe Год назад

God has nowt to do with it its hard work that the man does 24 hours a day probly even working when sleeping If God had a hand he wouldn't have to work he is a honest teacher

@cloudedmoon Год назад

the insta bitly link seems broken!