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Starting your own Company

Former MemberFormer Member Posts: 1,876,324 The Mix Honorary Guru
Anyone done this? If so how did it go? Regrets? Advice for people thinking about doing it?

I have been thinking of setting up on my own for some time now and have a number if ideas that I think would work really well. I'm not looking to become super rich (although that would be nice) or to have an easy ride - I'm just fucking fed up of working for other people. I think working for myself would be more rewarding and challenging.

I was wondering if anyone else has been/is in the same boat. If so what are your thoughts on the pros and cons. What ultimately made you decide one way or another?

Comments

  • Former MemberFormer Member Posts: 1,876,324 The Mix Honorary Guru
    Setting up your own business sounds like a really cool idea. I know im only 16 and i have little experience in the working world but id seriously reccomend giving it a go.

    I have set up/Run several online business some of which have been quite successfully but have had some small problems and ended up closing down but some are still running and i still have loads of ideas left to try out anyway.

    The things you need to be sure on before you give this a go is that you know you have the time, effort and dedication to be able to start it up and keep it going. Plan out how everything will work in stages. Plan funding, plan the initial setup, Plan advertising. Just make sure you dont go into it with no defined plan.

    If i have a great idea when im old enough id love to give my own business a shot.

    So i reccomend you give it a go basically :D
  • Former MemberFormer Member Posts: 1,876,324 The Mix Honorary Guru
    i would have thought you have a good idea and decide to make a business out of it, rather than deciding to start a business and wondering what type of business it will be.
    no?

    i have started my own business, as a matter of fact:

    1) be prepared to continue to work a fulltime job elsewhere to pay the bills for a while....perhaps years.

    2) dont plough too much money into it straight away. or at all....just for the essentials. try and get business grants or something. depending on where you live, then there may be stuff available to you.

    3) have a few sessions with someone at a local businesslink.
  • Former MemberFormer Member Posts: 1,876,324 The Mix Honorary Guru
    drumbeat wrote: »
    i have started my own business, as a matter of fact:

    1) be prepared to continue to work a fulltime job elsewhere to pay the bills for a while....perhaps years.

    2) dont plough too much money into it straight away. or at all....just for the essentials. try and get business grants or something. depending on where you live, then there may be stuff available to you.

    3) have a few sessions with someone at a local businesslink.

    The idea I have in mind i would require me to quit my job and give it a go full time. But i'm prepared to take that risk.

    Business grants sounds like a good idea. Are their any major organisations that I should be looking at? I know the Prince's Trust has a business grant but you can't apply for it while working full time which is a bit of a pain.

    How have you found working for yourself? And how long ago did you set up?
  • Former MemberFormer Member Posts: 1,876,324 The Mix Honorary Guru
    started to set up 6 months ago.... been working full time elsewhere....still in the planning stages really. hit a few snags here and there.... (generally not my fault though.)
    plus its pretty much a seasonal thing for the near future, and winters frozen all activity for the time being.

    about the grants....each county will have something different. deffo get down to businesslink and they will tell you all about whats available to you.
  • Former MemberFormer Member Posts: 1,876,324 The Mix Honorary Guru
    drumbeat wrote: »
    started to set up 6 months ago.... been working full time elsewhere....still in the planning stages really. hit a few snags here and there.... (generally not my fault though.)
    plus its pretty much a seasonal thing for the near future, and winters frozen all activity for the time being.

    about the grants....each county will have something different. deffo get down to businesslink and they will tell you all about whats available to you.

    When do you plan to go full time? Or is it a side project to your job?

    Can you elaborate a little more on the snags? Were they just bad luck or down to inexeperience? (I don't mean that in a condescending way - I assume its the first company that you've set up and I would imagine that without unbelievable luck inexperience is bound to throw a few problems into the mixer)
  • Former MemberFormer Member Posts: 1,876,324 The Mix Honorary Guru
    Jon_UK wrote: »
    When do you plan to go full time? Or is it a side project to your job?

    Can you elaborate a little more on the snags? Were they just bad luck or down to inexeperience? (I don't mean that in a condescending way - I assume its the first company that you've set up and I would imagine that without unbelievable luck inexperience is bound to throw a few problems into the mixer)

    yeah, its my first company. ;) Im 23. Started as a side project with big thoughts into the future.
    my problem is that its a partnership, but we have a few different views on some stuff. the snags are mainly due to inexperience of the both of us, but also down to my partners impatience, and wasting a little of our money here and there to attempt immiediate results. i realise that our project will take years to work, but when it does, it will be great. patience is a virtue, and all that......

    anway....this might all blow over in a week....and problems like this will probably be irrelevant to your business, as i asume youre a one-man-band.

    my advice? dont make the same mistake twice. work hard, and if its a good enough idea with the right people behind it, it will work.
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