Reserves...
The 'backup', the Plan 'B', the 'last chance', and the 'when in doubt, whip it out'.
Anyone familiar with sport aviation knows the importance of having a reserve - either attached to the aircraft or to the pilot proper.
Thankfully I have not had to use one paragliding, though came close with a spin-stall-cravat-spiral-stall-spin free style set. I have had to use one skydiving and fully appreciate the importance of what is certainly a second lease on life.
Likewise we see reserves employed in financial circles, typically under the guise of diversification. Nassim Taleb's suggested barbell investment strategy is an extreme case - where assets are allocated heavily into ultra safe, highly liquid, low return short term Treasuries at one end and the remainder into high risk, high multiple return long shots at the other. There is little allocated in between.
If we look at paragliding and Taleb's investment suggestion - we certainly see parallels. The wings we fly are cutting edge technology, high aspect ratio, non rigid gliders and many of us offset this with round reserves not far removed in design/function from their mid-century grandfathers.
I could go on about the proposed introduction of increasingly rectilinear reserves, AADs, cutaway systems, and/or SkyHook clones. But the reality is, I am not a test pilot. I leave early adoption to those far more talented and braver than I. For the time being, I will stick with my 'T-Bill' round as others prove out more nascent paragliding techologies.
So why all this talk of reserves?
Because for all this talk of backup plans, few of us have a Plan B for our primary income stream. Attempting to correct this lack of reserve brings me to more recent events.
Over the span of three days, a full time job offer coupled with a trio of parties looking for p/t freelance help. When it rains, it pours. In the past, I would have said yes to the f/t and politely declined the freelance work.
But this is not the past and I am no longer in the games industry (and with it goes the 60 to 80 hour work weeks).
A plan is hatched. A thumbs up to the f/t work followed by a yes to the first client, suggestions to the second on how they could solve the issue on their own (to see if they are serious about needing my time), and a 'Let me get back to you' to the third.
A fair amount of research followed on the pros and cons to sole proprietorship vs incorporation (especially in terms of liability), how to incorporate, what can be written off, record keeping, how to avoid becoming designated by CRA as a Personal Service Business, and marketing.
I also kept three starting out lessons in mind:
So in September, 2014 - Levemus Software Inc. was born with the tag line 'Silicon 2 Server Solutions' (reflecting a background in embedded through to cloud development).
Levemus -> Latin first person, plural, subjunctive conjugation of leve -> to rise, to lift, to climb.
Loosely translated -> "Let's climb together."
The first thing I noticed on LinkedIn with respect to many of my peer who have gone f/t freelance is the lack of a website (it may just be that they have too much work and not enough time), in this day and age not having a website is akin to not having a yellow pages listing in decades previous. Website issue: solved -> www.levemus.com
Then a business bank account with a local credit union, followed by the first of my CapEx - office furniture. Computer equipment is 'borrowed'/repurposed until the first client cheque allows for a more mobile solution.
A month has passed. First invoice issued to the first of the trio (a rather happy client it would appear). The second had a change in direction, no longer needing my help. And the third indicated possible work come the beginning of next month. All of this without any marketing. Fortune smiled indeed in September.
A reserve was added to the employment harness.
The 'backup', the Plan 'B', the 'last chance', and the 'when in doubt, whip it out'.
Anyone familiar with sport aviation knows the importance of having a reserve - either attached to the aircraft or to the pilot proper.
Thankfully I have not had to use one paragliding, though came close with a spin-stall-cravat-spiral-stall-spin free style set. I have had to use one skydiving and fully appreciate the importance of what is certainly a second lease on life.
Likewise we see reserves employed in financial circles, typically under the guise of diversification. Nassim Taleb's suggested barbell investment strategy is an extreme case - where assets are allocated heavily into ultra safe, highly liquid, low return short term Treasuries at one end and the remainder into high risk, high multiple return long shots at the other. There is little allocated in between.
If we look at paragliding and Taleb's investment suggestion - we certainly see parallels. The wings we fly are cutting edge technology, high aspect ratio, non rigid gliders and many of us offset this with round reserves not far removed in design/function from their mid-century grandfathers.
I could go on about the proposed introduction of increasingly rectilinear reserves, AADs, cutaway systems, and/or SkyHook clones. But the reality is, I am not a test pilot. I leave early adoption to those far more talented and braver than I. For the time being, I will stick with my 'T-Bill' round as others prove out more nascent paragliding techologies.
So why all this talk of reserves?
Because for all this talk of backup plans, few of us have a Plan B for our primary income stream. Attempting to correct this lack of reserve brings me to more recent events.
Over the span of three days, a full time job offer coupled with a trio of parties looking for p/t freelance help. When it rains, it pours. In the past, I would have said yes to the f/t and politely declined the freelance work.
But this is not the past and I am no longer in the games industry (and with it goes the 60 to 80 hour work weeks).
A plan is hatched. A thumbs up to the f/t work followed by a yes to the first client, suggestions to the second on how they could solve the issue on their own (to see if they are serious about needing my time), and a 'Let me get back to you' to the third.
A fair amount of research followed on the pros and cons to sole proprietorship vs incorporation (especially in terms of liability), how to incorporate, what can be written off, record keeping, how to avoid becoming designated by CRA as a Personal Service Business, and marketing.
I also kept three starting out lessons in mind:
- Have no partners, a ship has only one captain.
- Have no employees, subcontract.
- Have no inventory, avoid front loaded risk.
So in September, 2014 - Levemus Software Inc. was born with the tag line 'Silicon 2 Server Solutions' (reflecting a background in embedded through to cloud development).
Levemus -> Latin first person, plural, subjunctive conjugation of leve -> to rise, to lift, to climb.
Loosely translated -> "Let's climb together."
The first thing I noticed on LinkedIn with respect to many of my peer who have gone f/t freelance is the lack of a website (it may just be that they have too much work and not enough time), in this day and age not having a website is akin to not having a yellow pages listing in decades previous. Website issue: solved -> www.levemus.com
Then a business bank account with a local credit union, followed by the first of my CapEx - office furniture. Computer equipment is 'borrowed'/repurposed until the first client cheque allows for a more mobile solution.
A month has passed. First invoice issued to the first of the trio (a rather happy client it would appear). The second had a change in direction, no longer needing my help. And the third indicated possible work come the beginning of next month. All of this without any marketing. Fortune smiled indeed in September.
A reserve was added to the employment harness.
