The Potting Shed

Leonie2

EchoChild
Moderator

Joined: 05 May 2006
Posts: 48
Location: Devon and Dorset
Posted: 16 May 2006 03:02 pm Post subject: Going It Alone....Could I?

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Theres a lot of potential interest here, So I thought I would start a thread.

Could I start a business on my own?
How do I do it ?
What do I need to know?
Can I afford to go it alone?

so.. do you have any questions? would you like to go it alone?
do you have an idea for a business?
I want to know what is stopping you?
mabey we all could help each other here.
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D
Moderator

Joined: 15 Feb 2006
Posts: 528
Location: North Yorkshire
Posted: 16 May 2006 03:09 pm Post subject:

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I thought there was some good stuff here...

http://www.downsizer.net/Projects...t/Starting_In_Business_Checklist/

http://www.downsizer.net/Projects...g_Out/Starting_Your_Own_Business/

http://www.downsizer.net/Projects/Starting_Out/Happy_Selling/
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Haize
Perennial

Joined: 13 Apr 2006
Posts: 389

Posted: 16 May 2006 03:58 pm Post subject:

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A friend and I want to run a pub / cafe, out in the countryside somewhere. That's a pretty major goal. On the other hand, right now I'd settle for any job in which I get to actually *make* things. I do lab work, but it's not the same - you follow scientifically calculated steps, and get a subtly altered thing out at the other end. I really just want to do something creative, for once!

If I can't come up with a plan that would be profitable within a year, I would find it very hard to just put all that financial strain on my OH, though. Also, right now, I'd have nothing at all to invest in it.
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mrutty
Perennial

Joined: 07 Mar 2006
Posts: 309

Posted: 16 May 2006 04:01 pm Post subject:

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My wife was a financial strain before she started her own business and now she and it are financial strains
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Haize
Perennial

Joined: 13 Apr 2006
Posts: 389

Posted: 16 May 2006 04:16 pm Post subject:

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I have this faint suspicion that you're going to be in trouble for that, mrutty

Anyway, I myself am not a financial strain, because I hate shopping

However, both of us having decent incomes was the only reason we bought a house. So without my income, the house itself is the strain.
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Paula
Seedling

Joined: 04 Mar 2006
Posts: 137
Location: norfolk
Posted: 16 May 2006 04:20 pm Post subject:

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Just Go FOr It,
money does not make you happy, being fulfilled does !!!!
ive been "going it alone" with OH for years would NEVER go back to being employed, though some would argue my employers are many, the children and all the livestock !!!!!!!!!!!
just do it, what have you got to loose, ??????????
is it worth being miserable for ?????????????
Remember ::: YOU CANNOT TAKE IT WITH YOU & T+LIFE IS NOT A REHERSAL.
SO LIVE IT
sorry didn't mean to come across so LOUD
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Jesse
Site Admin

Joined: 02 Feb 2006
Posts: 2188
Location: West Sussex
Posted: 16 May 2006 05:47 pm Post subject:

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OH changed career 5 years ago, it meant giving up a full time job (which he hated) to go back to college. We talked and talked for a few years before about doing it but kept putting it off with all the "what if's". It's scary and I can fully understand where others are coming from with all the apprehensions. Handing in his notice was like stepping off the edge of a cliff and not knowing how long the drop was going to be, would we land gracefully on the ground after a short drop or would we hit the bottom following a long fall. Very scary to do for the first time. Now, 5 years later and OH being self employed for nearly 3 of those years we can smile in the knowing that it was the best thing we ever did. Neither of us would be happy working for someone else again. Our only regret is not having done it sooner and allowing ourselves to be put off by our own fear of the unknown.

My advice would be to know something about and enjoy the type of business/work you plan to start, do your research and know the facts about your industry, you will then be able to make sensible decisions and choices. Someone had concerns about being motivated when working for yourself, believe me, self motivation will happen all by itself.

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Greenlady
Evergreen

Joined: 16 Feb 2006
Posts: 549
Location: Scotland!
Posted: 16 May 2006 05:55 pm Post subject:

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My main thing about starting my business is my age, I am sort of worried that no-one will take a 24 year old seriously. Who did you turn to for advice in making your business plan?
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Jesse
Site Admin

Joined: 02 Feb 2006
Posts: 2188
Location: West Sussex
Posted: 16 May 2006 06:10 pm Post subject:

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Greenlady there are grants and loans specifically aimed at the under 30s, the princes trust springs to mind:

http://www.princes-trust.org.uk/M...lp/start%20up%20in%20business.asp

There are also all manner of booklets and information leaflets out there. The citizens advice bureau will offer help, in Sussex we have an organisation called the Sussex Enterprise which helps with starting up in business, including all sorts of training - there must be other equivalents around the country. The Inland Revenue has booklets and information about what you need to do for tax purposes etc.

Think I'll start a new board for self employment and we can start populating it with discussion and useful links and information.

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EchoChild
Moderator

Joined: 05 May 2006
Posts: 48
Location: Devon and Dorset
Posted: 16 May 2006 06:48 pm Post subject:

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Business is business whether you are 21 of 55...it really does not matter how old you are..is the product or service saleable is there a market( customer) to buy it...that is it!!...

Now the first step is the hardest but if you are enthusiastic about it IT WILL WORK...ask Jesse!..ask me...ask any one who wanted to go alone thought about it for ages ..then did it..they wil ALL tel you " i wish i done it earlier"...the moral to this particular lecture is why wait!
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EchoChild
Moderator

Joined: 05 May 2006
Posts: 48
Location: Devon and Dorset
Posted: 16 May 2006 06:51 pm Post subject:

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Haize...what you need to work out is how much do we need to live on...pay all of our commitments and have a bit left for ourselfs...that is you first step...you already have your mortgage they cannot take it away from you for changing job!...once you have done that the hard bit is over but it is definately the firs step..once you have done that..let me know we will then work out step 2..!
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mrutty
Perennial

Joined: 07 Mar 2006
Posts: 309

Posted: 16 May 2006 07:38 pm Post subject:

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Greenlady wrote:
My main thing about starting my business is my age, I am sort of worried that no-one will take a 24 year old seriously. Who did you turn to for advice in making your business plan?

Best time to do it. No kids to also worry about. I wished I done it when I was 15
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Greenlady
Evergreen

Joined: 16 Feb 2006
Posts: 549
Location: Scotland!
Posted: 17 May 2006 07:38 am Post subject:

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OK great, well when I move back to Scotland in 2 weeks, I'll look at starting off my reasearch and formulating a business plan, I'm excited, but very nervous. I'm glad this thread was started otherwise I dont think I would have had the guts to do anything
Watch this space...
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Greenlady
Evergreen

Joined: 16 Feb 2006
Posts: 549
Location: Scotland!
Posted: 17 May 2006 07:39 am Post subject:

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Seems I got a bit excited and posted twice...
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Jesse
Site Admin

Joined: 02 Feb 2006
Posts: 2188
Location: West Sussex
Posted: 17 May 2006 07:51 am Post subject:

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I deleted the one

It's always scary because you're stepping into something new to you. Do your research, it's so important because that's what you'll use to decide whether or not your business idea is a viable one. If it is viable it will give you the confidence you need to push it forward, if it isn't then you'll be able to tweak it, change it, do whatever to diversify your ideas into something that will work.

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Haize
Perennial

Joined: 13 Apr 2006
Posts: 389

Posted: 17 May 2006 01:01 pm Post subject:

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Greenlady, glad to see you've been inspired!

I don't have any decent ideas, past the pub / cafe one. My friend and I have discussed in quite a lot of detail how that would work, but unfortunately, it is the kind of venture that requires a fairly large amount to invest initially.

So I don't know what I could actually do, whilst staying in Leeds for the next couple of years.
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mrutty
Perennial

Joined: 07 Mar 2006
Posts: 309

Posted: 17 May 2006 01:24 pm Post subject:

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There's no reason why you couldn't run a little business as well as a full time job. Becki's cards started off as a treat from a friend of hers that thought she needed cheering up. They both could sit down and chat about nothing whilst drinking coffee and making stuff. The rest is history

I wcked up www.two3five.com when I lost my job in case I need to go contracting. It brings in enough to just cover it's costs through adverts.

Selling plants is quite easy, but you must make sure you have quality (I'm lucky to have some very good references from the likes of SL )

You'll get back what you invest if you invest carefully and know your market. The earrings on thecardbee were a God send at one craft fayre whilst one range of Christmas card didn't sell at all (guess what the family and friends got ). Card parties down here always make a lose but are successful in other areas. Worth also teaming up with some one say fruit and veg and a butcher on a single market stall. Maybe painted art and a photographer, something that's supports the other and hence halving the coasts.
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EchoChild
Moderator

Joined: 05 May 2006
Posts: 48
Location: Devon and Dorset
Posted: 17 May 2006 01:39 pm Post subject:

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the pub cafe...I like the sound of it..the investment thing isnot strictly required if you follow the right path. You dont nessacarily have to "own " the site do you? I certanly know that in dorset and the surounding counties there are companies like Inn Town Pub Co that are looking for tenants and managers to live in and manage their sites. I could look into this for you and see if my contacts have anything in Yorkshire.

If that is the case you could benefit from managing a site for a few years with minimum investmet and maximum exposure. Granted the income would not be all yours but you would be your own boss and it would be a grounding for when you want to go it alone.

So minimum investment maximum return/exposure and working for yourself..it's a move in the right direction
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EchoChild
Moderator

Joined: 05 May 2006
Posts: 48
Location: Devon and Dorset
Posted: 17 May 2006 01:43 pm Post subject:

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I agree Mrutty..you doo have to create a market for your goods/service to a certain extent and customers do not exactly jump into your lap..so you do have to put a bit of effort in..but the rewards are great and immensly satisfying!
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Haize
Perennial

Joined: 13 Apr 2006
Posts: 389

Posted: 17 May 2006 03:27 pm Post subject:

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Some good advice there, thanks both. I'm currently trying to raise money for Macmillan, and should think about craft fairs for that itself. Then, with the experience I get from that, maybe I'll continue as a part time business on the side.

The problem with being tenants for our pub cafe is that we had hoped to put most emphasis on a cafe for walkers, but get a license to sell my friend's home brew beer and wine (he lived with us as a student, and always had rows of brewing stuff in his bedroom, glopping away ). However, some forms of tenancy give you quite a bit of freedom with other drinks, so it could work.
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