There are two good times for someone who owns their own business.
1. The day you start the enterprise and
2. The day you sell it. :D
The rest of the time ....................................... well I think you all know what's involved there.
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There are two good times for someone who owns their own business.
1. The day you start the enterprise and
2. The day you sell it. :D
The rest of the time ....................................... well I think you all know what's involved there.
My wife and I own and operate a small caravan park which we purchased 11 years ago. It is going on the market in about 4 weeks. Time to do something different.
Dave.
Hi
Go for it I say. I have two companies. One is a tanker business carting spring water (3 semi tankers and 1 rigid) and the other is a swimming pool design and construction business. We build up to 50 pools per year depending on the size/cost of the projects we have on the go.
We have been running now for 13 years. Don't get me wrong, like all things in life you will have your ups and downs but thats life.
I don't think I could work for a boss after being on my own for so long now. I do have a business partner and we have worked together all this time (without stabbing each other:D). Having a partner I believe is a big help i.e. holidays, some one to shout at when needed etc etc:p
I believe with starting your own thing, its all about timing and knowing your potential competitors and your target audience.
If you are good at what you do/offer and strive to be the best in your field (go that extra mile so to speak) you will do well.
Good luck with what you choses.
Self employed mobile mechanic 10 years
You ride it like a roller coaster up and down, I can take time of when I need to, some times i.m just to busy:) When I get to tired and grumpy ( which your customers can drive you to) I'll probably look for something else, that would be contracting or another business, I'm self confessed UN-EMPLOYABLE wouldn't have it any other way
db
Have had my own business for 20yrs.Commercial refrig & a/c.Had many highs & lows.Not many holidays,missed times when the kids were growing up,couldn't have done it without support from my wife.Sure,we have done well,but it has been hard work,lots of pressure,particularly during summer.We have to be on call 24/7.It is rewarding though,i couldn't work for a boss again.
We have always provided a good service which brings a good customer base.
This is one of the main things a business needs,without a good customer base,it won't survive.
Quote:
Originally Posted by stig0000
The internet has opened up a whole new direction for all types of business.
I was an architectural cabinet maker for 27 years as an employee. Now I manufacture 4WD accessories full time in my own workshop at home. The internet allows me to easily conduct business from a Vic rural town with minimum overheads.
I'm certainly not making a fortune (yet) ;) , but the most important thing, for me anyway, is it's a lifestyle choice. I made a lot more money as a cabinet maker, but now.......I'm happy :D
Choose something that will give you some enjoyment or satisfaction, even though it's still work.
Cheers, Murray
Quote:
Originally Posted by scarry
I remember Dick Smith answering the question, "How do you start a successful small business" ?
He said, Find a small business that has a really good product, but really bad customer service, start a business nearby with the same product and really good customer service......you wont even have to advertise.
In the current climate, I would be budgeting on not making any money for 3 years. If you can ride it out that long, your chances of survival are multiplied. .....but honestly.. right now.. better to risk someone else's money not your own.
I have been freelance for twenty years as general TV crew. In Oct 2009 I quit and my wife and I set out be program makers not just crew. Was just tired of giving it all to people who couldn't care about me but were happy to make lots of money (tens of millions of dollars) from my ideas. So we sat down and worked out exactly what we wanted out of life and it wasn't lots of money. It was ownership. That's what owning the business means. You are responsible for it instead of being someone else's puppet. It is without doubt the hardest, most stressful and expensive thing I have ever done. But our first doco is in review by a few TV networks and we have learnt heaps and had a lot of bonding adventures. We were lucky too in we had some corporate jobs along the way so lesson is to be flexible As much as you can. Haven't gone broke yet but it's never been more than a week or two away.
It's not like working for others. Staying focused is the hardest part. Saying where Does my next client come from, what do they want and how much will they spend and how much of that is profit?
We are happy most of the time and now I would find it hard to work for someone else again.
And if any of you need a video........
I have thought pretty seriously about buying into a franchise - specifically the "Hose Doctor / ENZED Hoses / Hydralink / Hosemasters / Pirtek" type franchise. I make great money in my current game but despite being one of the three part owners and company directors in my firm, it really doesn't "ring my bell".
I love driving, have a "kind of hydraulic" background (Industrial Instrumentation and Control Systems - aka "glorified plumber"), am good with people, have a wife that's a book-keeper and live at the right end of town.
The franchise concept seems reasonable given they do advertising for you (and those franchisers listed above seem to do that reasonably well), and they do the customer invoicing and debt collecting.
Anyone add to this thread with franchise experience? I believe it would be in keeping with the current thread topic, but I'm happy to start it on a new thread if required.
Cheers
John B