Success Stories

Karl the Engineer

A retired engineer does the math…

Every time I tell Karl’s story, it bring me joy. My engineering colleagues always love it, too. You see, when some big company bureaucrats (BCBs) tried to stick it to Karl, he struck back and won.

Karl didn’t intend to consult. Nearing retirement, he alerted his company that it was time to find or develop a replacement. His expertise was soon going out the door, and he planned to do a lot of fishing. Of course, BCBs dragged their feet, and one day, Karl retired. As planned, he went fishing.

After about three months, however, Karl was getting bored. Not only was he fished out, but he had made all the household repairs he had put off for so many years. Winter was on the way, and he wasn’t sure what to do next.

About that time, BCBs realized they needed Karl’s help. So they called him, and offered him a part time contract. But there was one small catch. Since he received a pension, any contracting fees would reduce his pension by $1 for each $2 in fees. Well, as Karl put it, “You didn’t need to be an engineer to do the math.” He politely refused their offer.

But since he already had his PE (Professional Engineer) license, he decided to form a one man consulting firm. He incorporated, and then asked the BCBs if “consultants” subject to the same pension cuts. “Well, no” they replied. So he quickly said, “Fine, we can do business. And here are my rates.” The rates were about four times what they originally offered him as a contractor.

It turns out they needed Karl — badly. They swallowed hard, and brought Karl in as a consultant.  He enjoyed it so much, he started consulting for other local firms too. When I met Karl, he was actually starting to wind down. A professional colleague, he became a friend who graciously shared advice and even sent referrals our way.

After hearing the story, it finally explained his aging Cadillac. I’d always been curious, since Karl just didn’t seem like a Cadillac person. Well, he needed a new car anyway, so he took his first consulting proceeds and bought a Cadillac. He told me he did it for the BCBs — whenever he came to consult, they got to watch him drive up in that Cadillac!

Karl finally did retire, but he had greatly enhanced his retirement funds. He and his wife traveled around the country in a motor home , plus they made several trips to Europe.  All this, plus the Cadillac, courtesy of his unintended consulting business.


Do  you have a success story to share?  Please send it in…


 

© 2011 – 2018, https:. All rights reserved.

Doing well by doing good…

Consulting Success Stories will be sprinkled throughout the blog, so we can learn from others how they achieved their success. These are tales of those who have succeeded at consulting (or small business in general.)  Many  are acquaintances, but feel free to send me your stories too.  This is one of my personal favorites.

Here is my first Consulting Success Story…

I first met Lynn when we moved to Phoenix in 1996. She and her husband belonged to the church we joined. Lynn soon retired (her husband continued to work), but she wasn’t ready to slow down. Being socially conscious, she was looking for ways to contribute to the community.

Lynn had worked as a nutritionist, so she already had some specialized skills and experience.  She didn’t really intend to start a consulting business, but that was the ultimate result. At first, Lynn simply volunteered at one of the reservations in the Phoenix area. She was already aware of  some nutritional challenges faced in the Native American community, and just wanted to help.

Starting in the fall, she worked at no charge and with no expectations on compensation. The joy of working with her colleagues and seeing some success was more than enough. In the spring, she was asked if she would like to stay on for the next year, but with compensation. Unknown to her, grant money had been secured to support her efforts. It would mean traveling around the state, however, as her skills were needed in other Native American communities.

Lynn agreed, of course, and became a well respected nutritional consultant. The grants continued for several more years. She wore out two cars in her travels, but did a lot of good and made many new friends.  She also added to her retirement funds. Due to health limitations, she finally did retire, and enjoys life with her husband in Wisconsin.


Do you have a consulting success story to share? If so, please send it in…


 

© 2010 – 2020, https:. All rights reserved.