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Question Who here runs their own business?

Do you run your own business?


  • Total voters
    21

pringlejon

Pringello Indexinator
Joined
Jul 28, 2008
Messages
1,847
Location
Bromley
I'm a couple of weeks away from finishing uni and determined to start my own business once i'm done. I have a job lined up for when i finish but not one that i want to have for more than a year.

Obviously, the main stumbing block in my plan, which is pretty massive, is my lack of an idea. Have considered webdesign, as have made a few websites in the past, as well as some more wacky ideas, but not yet had one that makes me immediately excited at the prospect.

After seeing DtS's thread about his business he's starting up, was wondering if there were many others who have also started their own, with any big advice and things to avoid doing.
 
I don't suit your poll as I no longer run my own business having sold the rights to my IP about five years ago, but I can provide a perspective having been there and done it. It's bloody hard - and anyone who tells you otherwise is lying. But it's also immensely rewarding.

There are thousands of websites about which will help you, even if you just do a quick search on "starting a business" but the lack of an idea doesn't need to be a killer as, quite often, ground-breaking ideas can be the hardest to get off the ground anyway.

Don't get caught up in thinking it has to be something new as you're far more likely to succeed if you just look at businesses that are currently enjoying success. When you look at those existing businesses, try to get an idea of why it is the best ones are being successful, then ask yourself what you can bring to the table. If the industry is bouyant and you can raise your head above the other suppliers, then you're already onto a winner. You could even look at the best two or three suppliers you can find and market your business around the best that each of them offer.

The key thing to think about is what problems you can solve and what value you can provide as that's ultimately what people pay for. When someone has a need and they can understand the value you provide them, they'll pay you handsomely to service it - another reason why existing successful businesses are a good place to start.
 
I don't suit your poll as I no longer run my own business having sold the rights to my IP about five years ago, but I can provide a perspective having been there and done it. It's bloody hard - and anyone who tells you otherwise is lying. But it's also immensely rewarding.

There are thousands of websites about which will help you, even if you just do a quick search on "starting a business" but the lack of an idea doesn't need to be a killer as, quite often, ground-breaking ideas can be the hardest to get off the ground anyway.

Don't get caught up in thinking it has to be something new as you're far more likely to succeed if you just look at businesses that are currently enjoying success. When you look at those existing businesses, try to get an idea of why it is the best ones are being successful, then ask yourself what you can bring to the table. If the industry is bouyant and you can raise your head above the other suppliers, then you're already onto a winner. You could even look at the best two or three suppliers you can find and market your business around the best that each of them offer.

The key thing to think about is what problems you can solve and what value you can provide as that's ultimately what people pay for. When someone has a need and they can understand the value you provide them, they'll pay you handsomely to service it - another reason why existing successful businesses are a good place to start.

Great advice mate, you ever thought about writing your own book?
 
It's certainly something I'd consider given the sparse nature of jobs in the journalism industry at the moment, but given the saturation of sports coverage on the net there are few niche's left to exploit.
 
I'm a couple of weeks away from finishing uni and determined to start my own business once i'm done. I have a job lined up for when i finish but not one that i want to have for more than a year.

Obviously, the main stumbing block in my plan, which is pretty massive, is my lack of an idea. Have considered webdesign, as have made a few websites in the past, as well as some more wacky ideas, but not yet had one that makes me immediately excited at the prospect.

After seeing DtS's thread about his business he's starting up, was wondering if there were many others who have also started their own, with any big advice and things to avoid doing.

Trust no *******,and **** off any militant brother types,and you'll have your chelsea tractor within 2 years.
 
Great advice mate, you ever thought about writing your own book?

Cheers Andy. In short, yes. I ended up doing a fair bit of consultancy as part of my business (Sales and Marketing advice mainly) but the company was initially built around information products for business skills training. The products started out as focused training books, about 15 in total which I co-authored and edited, and then ultimately turned into fairly sophisticated online learning programmes.

I love my current job and don't see that changing for a while but, if it does, I'm likely to go back and build another version of what I did before - starting with a few more books.

As for your own business, I noticed on Linked In that you're busy recruiting.
Obviously going well then mate!? :clap:
 
Cheers Andy. In short, yes. I ended up doing a fair bit of consultancy as part of my business (Sales and Marketing advice mainly) but the company was initially built around information products for business skills training. The products started out as focused training books, about 15 in total which I co-authored and edited, and then ultimately turned into fairly sophisticated online learning programmes.

I love my current job and don't see that changing for a while but, if it does, I'm likely to go back and build another version of what I did before - starting with a few more books.

As for your own business, I noticed on Linked In that you're busy recruiting.
Obviously going well then mate!? :clap:

Thats the thing with information, getting it over to people in a way that is both informative and interesting, and you seem to do that.

Things are moving in the right direction for sure, long way to go but pretty much as we have based the Business plan on. Im over at WC2B on Wednesday from 3-4 if your about for a coffee?
 
Thats the thing with information, getting it over to people in a way that is both informative and interesting, and you seem to do that.

Things are moving in the right direction for sure, long way to go but pretty much as we have based the Business plan on. Im over at WC2B on Wednesday from 3-4 if your about for a coffee?

Cheers.

WC2B? Have you got a meeting with our team in Kingsway? If so, good luck! I'm not going to be around but definitely let's do that another time.
 
Well done on finishing uni and looking to work for yourself.
Lots of good advice in all the previous posts.
From a personal point of view, started my own business 5 years ago having worked in the same field for an employer - that employer decided they no longer wanted to be in the sector which I ran with another Director so this gave us the push to take the step and set our own business up.
As all have said, very hard work, anxious moments and headaches but so rewarding and we both say we wished we had gone it alone earlier.
Yes there are no guarantees but whatever happens, there is such satisfaction in giving it your best shot and going for it.
Good luck to you.:)
 
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What Roxy Says. Whatever a happens you need an income. Might be best to get a job in a field you like, work for a year then try to do the same thing better.

Coming up with something new that no one has ever done is very difficult.
 
Have no idea if you're interested or how useful it'll be at all, but I keep seeing some Starter Business show happening at the Excel Centre in London being advertised by the Australian tosser from Dragon's Den.

You have to register for tickets, but it's completely free and had a few lectures by businessmen on starting businesses successfully. Seeing as it's free, you're not going to lose anything and even if you learn something, it's something gained.

http://www.excel-london.co.uk/whatson/events/194/

http://www.bstartup.com/ Order tickets here
 
Cheers ESB, looks quite good but got exams till end of may so no chance of making that, is something i will look out for in future. Cheers everyone else for advice etc. Has definately focused my mind a bit more on some ideas.
 
Go for it mate.

I had a fairly decent job in the city for a few years but hated every minute of it.

A former Director colleague of mine approached me one day and asked If I would be interested in setting up a new venture in the same field (Retail Analysis) I left my comfy London job and went straight in at the deep end.

Only been up and running about a year and it has been bloody difficult to say the least. But, I have a 4 year old and bills like the rest of em. So failure is not an option. I will NEVER work for someone else ever again.

You get out what you put in. I have worked 18-20 hour days quite regularly, getting things off the ground. But it is all starting to reward the business now, with several 6 figure contracts being obtained. I have had to learn new skills overnight and completely change the way I do things. I will still be learning for many years to come. But, it has been very enjoyable if somewhat stressful.

Make no mistake. Setting up a business is extremely difficult. But the rewards can be very worthwhile in the end. You just have to put the effort in and forget a social life for a while!
 
Go for it mate.

I had a fairly decent job in the city for a few years but hated every minute of it.

A former Director colleague of mine approached me one day and asked If I would be interested in setting up a new venture in the same field (Retail Analysis) I left my comfy London job and went straight in at the deep end.

Only been up and running about a year and it has been bloody difficult to say the least. But, I have a 4 year old and bills like the rest of em. So failure is not an option. I will NEVER work for someone else ever again.

You get out what you put in. I have worked 18-20 hour days quite regularly, getting things off the ground. But it is all starting to reward the business now, with several 6 figure contracts being obtained. I have had to learn new skills overnight and completely change the way I do things. I will still be learning for many years to come. But, it has been very enjoyable if somewhat stressful.

Make no mistake. Setting up a business is extremely difficult. But the rewards can be very worthwhile in the end. You just have to put the effort in and forget a social life for a while!

And then when the time comes I will join you :)
 
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