business owners

[supanova]

Who here owns there own business?

Currently I have a very tiny small business I run from out my back yard, in a small workshop - I make picture frames and do other bits a pieces all falling into the category of photography/artwork/picture frames. Recently I changed jobs and a year down the line I just feel that it doesnt satisfy me as much as my old job did..... dont get my wrong, the pay is better and the hours are great ( 5-6 days per week as to old job being 4 days per week).

I'm just curious to find out other peoples views on taking that step into self employment/being my own boss so to speak... I'm just a tad nervous to take that step but as I dont have a mortgage to pay and very limited bills to pay I think now is the time to step upto it.

Anyone agree/disagree?

Cheers in advance guys!

 

[Nilz]

If you dont have any commitments or ties that will be put at risk, then now is a good time as any, as that way if it doesnt work out for you (worst case scenario), at least you can pick yourself up from it and not many other will get hurt or suffer along the way.

 

[warren_S5]

I took a similar(isn) step. I decided to step out of a blue chip management role and set up as an independent associate consultant working within an umbrella organisation. We are largely responsible for our own revenue generation, and there are positives and negatives I've experienced in my 6 years since having moved.

Good things
1) Removing the shackles of corporate life is incredibly liberating (no micro-management, yes men, nodding donkeys, management speak, excessive red tape, pecking orders, **** lickers, schmoozers etc...)
2) Makes you think more laterally - you're no longer operating in one space as everyone does sales / marketing / work / accounts etc., so you get to see the breadth of the business rather than operate in a fragment of it
3) You become accountable for everything (live by the sword / die by it) - I find that quite liberating, some find it daunting. I found it challenging being managed by risk averse snr management who were just in job protection mode
4) The only things that can get between you and you're dreams (largely speaking) are yourself
5) With big / challenging deadlines it can feel really exhilarating
6) You can be tax efficient if you set the company up in the right way

So-so things
1) You never seem to have enough time on your hands to do everything well (within the business)
2) If you get on a wrong path there are less people about to bring it to your attention or to step in and help out / re-align you
3) It can consume your life (especially the set up phase). Many small business owners don't see weekends as down time as it's too personal to switch off at 5pm Friday and turn on at 9am Monday
4) You need to be comfortable with your own company!
5) Learn to set aside money in the good times if you have a busy period (don't just go and blow it all!)
6) It's hard to let go / let other people in even when you need help to upscale or grow as people won't always measure up to your standards
7) You have to be comfortable with ambiguity - quiet times can feel very unnerving!

These are just a few things that come to mind. It can be very rewarding, but not all that glitters is gold. You can always go back if you cut your ties sensitively.

 

[Ads]

A missed opportunity is worse than a bad experience.

Go for it.

 

[T-800]

A difficult choice to make, especially if your already in a job that pays well with some security (I know, I know, nothings secure)

I started up 10 years ago, company i worked for went bump, could've quite easily got another job elsewhere but at the time decided balls to it I'm going all in, so to speak !!

First few months were hard going i managed to rent a unit and some machinery off a guy, however he turned out to be quite the little nasty B*****d if i didn't give his work preference, felt as if i was still working for someone if you see what i mean !

So i decided to find my own unit and purchase my own machinery, let me tell you i was spending money like it was going out of fashion HA HA !!!

Now i employ 1 guy full time and when needed another guy comes in on weekends, haven't looked back since really.

As said above it can be a lonely place sometimes working for yourself and yes you do live or die by your own decisions.

The buck stops with you, although i've learn't the hard way that other people will always try to pass the buck and blame you for things you haven't had any involvement in !!!!!

Try to get money in the bank and keep it there for when times go lean/quiet as in this industry (furniture/kitchen manufacture) things are manic 1 minute then fall off the edge of a cliff the next.

If you try to please everybody, you won't so try not to take too much on, you will end up chasing your tail and get nowhere, remember its YOUR business !

I think if you feel you can make it work GO FOR IT !!

Life's far too short for "what if i'd only done that?"

 

[joinerman]

Go for it, I've got my own joinery business, been a joiner all my life but fifteen years ago an opportunity to get a workshop came along, I took a chance and haven't looked back, ok it's been tough through the recession but I've managed to keep going.

 

[Boon]

I became my own boss a few months ago, after working for others for 17yrs

The last company I 'worked' for was paying me £60 a day (9hrs and after tax), I can now earn that in less than an hour.

But every day isn't busy all the time, depends what drives you, if you pack up after you have earned enough for the day and do what you wish for the rest of the day it can be pleasurable. But can also be very damaging of getting into a habit. The same is said with working all hours, you might have money in the bank but never any time to enjoy it.

It certainly is a way of finding yourself but you have to be prepared for your outcome as only you can be responsible for it!

At the moment for me it works, I'm a skilled tradesman doing a job that I love & have built up a great deal of trust with clients over the years, my only concern is getting too busy as I do not wish to employ others, downside is when's my next day off? Could be tomorrow, could be for the next 40 years!


It'll eat up at you until you try it is my only advice, you'll always be thinking 'what if'. If you feel you have the knowledge and power to make a success and you feel that you have nothing/little to loose then it's got to be worth a shot...

Good luck with your venture should you decide to take it

 

[Vanessa]

Go for,it,
When I lived in the uk, I had a very good job in a big company, decided to leave as I never saw my kids or husband, made the decision to move to France and 4 weeks later we were here, started our own property management business, very hard a first, slow to build up and gain trust, thriving business now, we make sure we earn enough In summer to last through winter. Although most years we have work in winter. So all is great, we have the sun, nice food, nice wine and happy people. Best decision we ever made.

 

[warren_S5]

Go for,it,
When I lived in the uk, I had a very good job in a big company, decided to leave as I never saw my kids or husband, made the decision to move to France and 4 weeks later we were here, started our own property management business, very hard a first, slow to build up and gain trust, thriving business now, we make sure we earn enough In summer to last through winter. Although most years we have work in winter. So all is great, we have the sun, nice food, nice wine and happy people. Best decision we ever made.

Where do I sign up! Happily do this one day.

 

[Vanessa]

I was given some good advice by a guy I new in Bordeaux who had his own computer business,

He said if you want to go, go ASAP, don't ponder, go as far south as you can afford.

We rented a house in France, put our house on the market in the uk.

Packed the two kids in the car they were aged 1yrs and 10 years. At the time.

All very scary at the time.

But well worth it.

I will say, I am know for doing things on the spur of the moment.

 

[s3dave]

Very brave, but as long as people realize its not always rosy and things can go wrong...fast , but if you never try you will never know..

I was fortunate enough to be in a position to buy my company of my old boss (who was retiring) so it was all set up ..15 years later im still going strong, i realize i will never be a millionaire, but i employ 5 people and i would like to think we all have a good standard of life... :icon_thumright: