Topic: Entrepreneurs on rawk

[aggerdid]

Curious if there are any on here?

[CraigDS]

In what sense?

I've started a few businesses personally over the last few years (which I'm still running with help), after being part of a family business that was set up from scratch, and have a couple of plans for another couple of businesses which I'm trying to find time to work on.

Think are a fair few on here who have their own businesses.

[AndyInVA]

run a construction company and a property company

there are loads on here who run their own business

at least one that is very successful but from memory cant remember who it is

[Terry_Tibbs]

run a construction company and a property company

there are loads on here who run their own business

at least one that is very successful but from memory cant remember who it is

Isn't this one is it?: http://www.redandwhitekop.com/forum/index.php?action=profile;u=24063

IIRC he's set up an award winning security marking company or something along those lines.

[alonsoisared]

I'd like to be my own boss and set up a business, only problem is I haven't got a fucking clue what kind of business to set up.

I'd quite like a sweet shop.

Cracking advice from me there, sorry

[Alan_X]

I'd like to be my own boss and set up a business, only problem is I haven't got a fucking clue what kind of business to set up.

I'd quite like a sweet shop.

Cracking advice from me there, sorry

99% of businesses are doing things that have been done by thousands of others. The big myth is that to set up a business you need a unique idea when in fact that's the best way to fail. One of the best ways to be your own boss is to run a franchise.

I started my business eleven years ago doing what I had been doing for someone else. There are thousands of people doing exactly what I do so it's all about building up relationships and developing your customer base.

I think being an entrepreneur is a state of mind. We're only small but me and my business partner need to generate half to three-quarters of a million in fees every year to pay the bills, keep our staff in employment and make a decent profit. I put my house on the line and it fucked up my marriage but I love what I do. If that phases you then you probably aren't cut out for it.

[AndyInVA]

I put my house on the line and it fucked up my marriage but I love what I do.

Strangely enough this exactly happened to me as well. There are very few true entrepreneurs I know whose marriage survived starting the business. Most I know seem to have been divorced twice. Me included.

[Kopite B205]

I'd like to be my own boss and set up a business, only problem is I haven't got a fucking clue what kind of business to set up.

I'd quite like a sweet shop.

Cracking advice from me there, sorry

I opened my traditional / American sweet shop 6 years ago. We were actually the first 'non-tourist' shop in the North (to my knowledge)

Quite entrepreneurial I suppose.

[CraigDS]

I opened my traditional / American sweet shop 6 years ago. We were actually the first 'non-tourist' shop in the North (to my knowledge)

Quite entrepreneurial I suppose.

What do you mean by non-tourist shop?

[AndyInVA]

Isn't this one is it?: http://www.redandwhitekop.com/forum/index.php?action=profile;u=24063

IIRC he's set up an award winning security marking company or something along those lines.

to be honest I have absolutely no idea. I have no idea what LRH does.

 It was a long thread a while ago that started on terms and conditions of employment and comparing the situations of the standard US employment law compared to UK. It was one of the threads that rapidly degenerated, but a few people who were entrepreneurs expressed their opinon.

[AndyInVA]

I opened my traditional / American sweet shop 6 years ago. We were actually the first 'non-tourist' shop in the North (to my knowledge)

Quite entrepreneurial I suppose.

thats awesome

is it a 'candy' shop

[Elzar]

I opened my traditional / American sweet shop 6 years ago. We were actually the first 'non-tourist' shop in the North (to my knowledge)

Quite entrepreneurial I suppose.

Tell me more and I'll come visit.

[Kopite B205]

What do you mean by non-tourist shop?

Sweet shops and ice cream parlours are extremely profitable businesses in tourist areas. Look no further than places like the Lakes, Blackpool, even the one in Liverpool Docks. I believe I was the first to take that 'risk' and setup in a generic high street / town centre. We opened in Widnes Town Centre about 6 years ago and since then we have seen an explosion of shops within the North West - several in Liverpool town centre, Manchester, Warrington etc.

About 4 years ago we were possibly one of the first independents to venture into imported candies, sodas and groceries; and since then others have followed suit. We stay ahead of competitors by dealing with diverse suppliers, and one particular importer who only supplies myself and one other in the Uk.

Are latest shipment includes a batch of 7 different Monster energy drinks that will hopefully do well.

Here's our Facebook page (website is down at the moment)

https://www.facebook.com/wowcandy

Yes mate it's a Candy Shop & A traditional Shop.

Elzar.....fill your boots mate.

[Seagull Dave]

I run my own printing business

flyers, business cards, ETC.

Its stressful as hell sometimes but i love it

[Draex]

Me and my friend have a 5 year plan to open our own consultancy, were both gaining the experience now in industry then will branch out with an excellent network for the first few years.

[hixxstar]

Do what you're good at/like.. then it wont seem like work... always a good start.

I run my own IT-Laptop/PC repair & upgrades etc.. work from home, my own hours    ticks over, i'm a lazy tw*t sometimes, but hey... sack me 
went to college 10yrs ago, did a 3 day PC course for 2 years.. got diploma's etc.. best thing i ever done...


http://www.pcmot.co/

[Billy The Kid]

I've got 2 companies of my own. Becoming my own boss was one of the best things I ever did

My advice to anyone thinking about embarking on entrepreneurship would be this:

Put your investments in order. Invest in yourself first, then invest in your business

Given that we live in an age where an absolute wealth of information is at our fingertips, I would suggest you use it

If you continually invest in your knowledge, then your investments in your business will invariably pay off handsomely 

[conman]

Me and my friend have a 5 year plan to open our own consultancy, were both gaining the experience now in industry then will branch out with an excellent network for the first few years.

Are you mates with Ged?

[DJBrenton]

went to college 10yrs ago, did a 3 day PC course for 2 years.. got diploma's etc.. best thing i ever done...

It took you 2 years to do a 3 day course? Slow learner mate.

[conman]

So I'm not an entrepreneur and my extended family aren't either with one exception. However last week we had a clan meet up, so i met 2nd and 3rd cousins whom I've never met before. I found it fascinating that so many of them are entrepreneurs, which as I said is not a trait that carries to my side of the family. I was easily persuaded or at least tempted by the entrepreneurial mindset and thus my spirit is rekindled somewhat.

I find it very interesting that this mentality simply was not something my grandmother had, but her brothers did and thus that side of the family have been encouraged by listening  and seeing what those around them and before them have been and are doing.

I had a decent chat with one of my cousins about his business and they couldn't believe someone with my skillet was still labouring away for someone else, when I could be commanding 15k to 20k a contract easily. I mentioned this casually to my mom and her response included the words "think about it, caution, careful, taxes, risk, giving up what you have, security". I had to stop her and say these are the things people need to be well aware of, but not a wall in front of them.

Anyway, not sure I contributed much to this thread, but i found it rather enlightening. I'd a few more interesting chats with a friend yesterday too.

[MidwestWool]

It's not easy but it's bloody worth it if you have the time and patience.

Last year, my start-up barely had revenue. Think we had a total of $350 in revenue. Wasn't even enough to pay for my gas bills. Moved in with my parents, borrowed some more money from them. Suddenly, work picked up and we were overstretched. So far this year, in about 7 months, we've managed to have revenues over $145k. Imagine that. From bloody nothing to $145k. But it's taken a lot of hard work, and we need to sustain that level of revenue in the future.

A massive downside has been too many grey hair. There's so much bloody stress but it's worth it in the end.

[Crosby Nick]

It took you 2 years to do a 3 day course? Slow learner mate.

Hats off to all of you brave enough to set up on your own/with a partner.

[fudge]

Got my own software house that services the real estate industry. Got 5 offices in the UK and just opened in Melbourne.

But the truly amazing entrepreneurial thing about me is my ability to redefine the practices of networking and expenses that even MP's would be proud of. I"m known as Sir Lunchalot.

[Alan_X]

I mentioned this casually to my mom and her response included the words "think about it, caution, careful, taxes, risk, giving up what you have, security". I had to stop her and say these are the things people need to be well aware of, but not a wall in front of them.

Anyway, not sure I contributed much to this thread, but i found it rather enlightening. I'd a few more interesting chats with a friend yesterday too.

If you're going to set up a business you do have to think about all of those things. You need to face them all head on and look for all the reasons why your business might fail. If you have the entrepreneurial spirit those things won't phase you, they are just things you deal with.

[Alan_X]

Got my own software house that services the real estate industry. Got 5 offices in the UK and just opened in Melbourne.

But the truly amazing entrepreneurial thing about me is my ability to redefine the practices of networking and expenses that even MP's would be proud of. I"m known as Sir Lunchalot.

I need to get back on the networking and lunches. Doing the work is one thing, the important thing is getting new work.

[conman]

If you're going to set up a business you do have to think about all of those things. You need to face them all head on and look for all the reasons why your business might fail. If you have the entrepreneurial spirit those things won't phase you, they are just things you deal with.

I'm well aware of that yea. My point was the entrepreneurial side of my family first consider the opportunity, then consider the risk. My side considers risk before any opportunity. hence, they never actually get to sow the seeds of an idea.

[Crosby Nick]

I need to get back on the networking and lunches. Doing the work is one thing, the important thing is getting new work.

I need a new shed Alan. Let's set up a RAWK lunch.

[conman]

I need to get back on the networking and lunches. Doing the work is one thing, the important thing is getting new work.

You're an architect, or something in the building trade, right Al?

[BCCC]

The thing that differentiates entrepreneurs from the rest is action. Loads of people have ideas and dreams but never act on them.

To prove a point, I set up a business for my daughter including branding and top level plan in a few hours. She's still not acted on it.

[conman]

The thing that differentiates entrepreneurs from the rest is action. Loads of people have ideas and dreams but never act on them.

To prove a point, I set up a business for my daughter including branding and top level plan in a few hours. She's still not acted on it.

I'd say action and fear.

I want to work where I am for a year, and then consider setting up or doing online affiliates.

[Alan_X]

You're an architect, or something in the building trade, right Al?

Own my own architects practice.

I'm well aware of that yea. My point was the entrepreneurial side of my family first consider the opportunity, then consider the risk. My side considers risk before any opportunity. hence, they never actually get to sow the seeds of an idea.

I set up with two others and we had no work at the start. We all put our houses on the line to get started and each of us put in £15,000 as working capital. If it hadn't have worked out then we'd have written it off and gone on to the next thing. It wasn't really about the money. If I'd stayed where I was I'd be earning a really good salary plus bonuses but I just needed to be in charge of my own destiny.

[conman]

I set up with two others and we had no work at the start. We all put our houses on the line to get started and each of us put in £15,000 as working capital. If it hadn't have worked out then we'd have written it off and gone on to the next thing. It wasn't really about the money. If I'd stayed where I was I'd be earning a really good salary plus bonuses but I just needed to be in charge of my own destiny.

good man. It's not easy to jump in the deep end like that.

I'll eventually give up the good job, salary and bonuses. First though, I want to achieve a lot here for various reasons.

[BCCC]

I'd say action and fear.

I want to work where I am for a year, and then consider setting up or doing online affiliates.

Fear prevents action. Entrepreneurs overcome fear or are fearless and act on their ideas. Failure is considered learning, fear is just risk in business terms.

[CraigDS]

Agree with the above.

I think entrepreneurs see an obstacle as just that, something they need to find a way round and will work hard to do so. Others who don't have that mindset will see it as a wall and that's the end of their plan.

I've taken some big (calculated) risks in setting up my own businesses, and had to learn new things along the way, it's been a huge amount of work and has sort of consumed my life and that certainly won't be for everyone.

[kavah]

But the truly amazing entrepreneurial thing about me is my ability to redefine the practices of networking and expenses that even MP's would be proud of. I"m known as Sir Lunchalot.

ha ha - got to love the 2 martini lunches  .

In my first job in the late 80s it was not unusual for some fellas to have 5+ pints at lunch time 

[conman]

Agree with the above.

I think entrepreneurs see an obstacle as just that, something they need to find a way round and will work hard to do so. Others who don't have that mindset will see it as a wall and that's the end of their plan.

I've taken some big (calculated) risks in setting up my own businesses, and had to learn new things along the way, it's been a huge amount of work and has sort of consumed my life and that certainly won't be for everyone.

That's almost word for word how I explained it too.

[CraigDS]

Have a business plan for what some friends in business and tech think is a brilliant idea, but haven't got the finances to do anything with the idea at the moment as I reckon I'd need 100k in the first year for the technical equipment, expertise where I'm lacking and to keep a roof over my head. So frustrating as developing it would be my ideal 'job' and a couple of former collegues who deal with this kind of thing think it could be highly successful.

Then find ways round it - Can you learn to do parts of it yourself so it's only your time? Can you do a lot of it whilst still employed so have an income? can you outsource any work abroad for cheaper? Where can you cut costs initially to get to a position to launch and then develop further? Is there a partner you can bring in with the expertise to do the parts you cannot in exchange for part the business rather than cash?

[CraigDS]

It's a technology idea mate, so I'm terrified of having the idea stolen. I can do some programming (web-based) but a lot of the functionality would come from an associated android/iOS app which I am learning at the moment, but there is no way I'll be able to learn it in say 6 months.

Make anyone you speak to about it sign a non-disclosure. Not perfect but gives you some protection and come back and the other option is to stay quiet and let the idea pass you by.

[BCCC]

It's a technology idea mate, so I'm terrified of having the idea stolen. I can do some programming (web-based) but a lot of the functionality would come from an associated android/iOS app which I am learning at the moment, but there is no way I'll be able to learn it in say 6 months.

Can you not protect the key or unique features via patent etc?

[CraigDS]

From what I understand about patents is you can't patent an idea (e.g. If I wanted to patent a Star Trek style transporter) but I could patent the method or process for that should I be clever enough to figure it out.