Pay Off Your Mortgage In Two Years Blog Discussion

tootz

I have a similar idea to this, but no business brain at all. I know it's a good idea, but am anxious about the whole idea of cold calling, and not quite sure what to do, how to do it and just need a bit of a push. I know once i've got my foot in the door, I'll be able to build on it, but it's getting that first one..

Anyone got any wise words to get me started?

Tootz

burnoutbabe

actually the program just seemed to show (especially the last one with 3 people), tell them to start a business, they throw money at different ventures, get told down the line that its not a goer, stop them having lost some money.

think my fave was the christian family who did dog walking and took in boarders. Seemed a relastic way of doing things rather than start many small businesses and stop.

though I accept that a show where Catherine the accountant decided not to go out for 2 years, rents out her spair room and stops pension contributions and works in a bar evening and weekends and thus pays off mortgage in 2 years would not be any sort of interesting show.

RufusFrog_2

I've only dipped into this show occasionally but most of the ones I've seen have involved setting up a business of some sort. This seems almost completely contradictory to the aims of the show (particularly in the timeframe allowed). Most new businesses need a lot of capital in the set-up phase - I watched some of the Channel 4 daytime series 'Tricky Business' a few weeks ago which followed young enterpreneurs as they tried to set up a new business - all the ones I saw had the mentor saying 'you've got a great idea but if you don't raise at least £100,000 in investment immediately, your business will die'. Trying to put all your cash into bricks and mortar at the same time as getting a business off the ground seems a bizarre strategy.

It's almost as if there were two programme ideas squeezed into one - the mortgage paying-off bit: earn more, forego luxuries, shop around for the best deals etc. - and the take long-term control over your own destiny by building your own business part - and I just don't think the two were a good fit at all.

andrew_lloyd

tootz wrote:

I have a similar idea to this, but no business brain at all. I know it's a good idea, but am anxious about the whole idea of cold calling, and not quite sure what to do, how to do it and just need a bit of a push. I know once i've got my foot in the door, I'll be able to build on it, but it's getting that first one..

Anyone got any wise words to get me started?

Tootz

Surprisingly it isn't that difficult. Once you know exactly what you intend to demonstrate you simply pick about a dozen schemes that are local to you, phone and speak to the person in charge. Because this is a new venture, you need to offer your services free based on the fact that you will be selling your product at the end. Make sure the demonstration is entertaining and informative and lasts no more than an hour. Get it right and you will be welcomed with opened arms. Word spreads quickly amongst these groups.

andrew_lloyd

tootz wrote:

I have a similar idea to this, but no business brain at all. I know it's a good idea, but am anxious about the whole idea of cold calling, and not quite sure what to do, how to do it and just need a bit of a push. I know once i've got my foot in the door, I'll be able to build on it, but it's getting that first one..

Anyone got any wise words to get me started?

Tootz

It isn't as difficult as you may think. Rather than cold calling choose about a dozen schemes that are local and send them a letter briefly explaining what you do. In the letter say that you will phone them in a few days to see what they think. This avoids the cold call. Because this is a new venture, your services need to be free. You will be selling a product at the end of your demonstration. Keep your visit to no longer than an hour and watch the price. Make sure that you are not only informative but entertaining. Word quickly spreads about something new amongst these groups, so you could be busy.

andrew_lloyd

Also try not to repeat yourself otherwise others start to think you have gone mad! Sorry didn't realise I had submitted my first one but I think you would agree the second one is just as enjoyable!!

andrew_lloyd

The chocolate business continues to develop. We now have several local shops selling our chocolates and I continue to travel doing my demonstration. The untidy workshop you may have seen has been completely altered and is now a visitor centre. Our first bookings have come in and we start with this venture from May 1st. Just to add we had to use the services of builders joiners plumbers and electricians although Jeannie and myself do make a mean coffee (our work towards the build!). I am still doing my Cliff act and I am still having a ball with it.

oakdale_minx

What a coincidence! I have just posted on my debt free diary on the DFW board that I would love to do something similar to the chocolate demo's and then sell them and then I find you are a member of MSE Andrew!

I only caught the very end of the show, but I'd love to know if you have a blog or something similar to inspire me as I haven't followed your adventure.

Lotta_Littlies

andrew_lloyd wrote:

The chocolate business continues to develop. We now have several local shops selling our chocolates and I continue to travel doing my demonstration. The untidy workshop you may have seen has been completely altered and is now a visitor centre. Our first bookings have come in and we start with this venture from May 1st. Just to add we had to use the services of builders joiners plumbers and electricians although Jeannie and myself do make a mean coffee (our work towards the build!). I am still doing my Cliff act and I am still having a ball with it.

Sounds like it's all coming together nicely! Are you still tacking the mortgage and planning to pay it off asap?

Oh, and are there any plans on selling chocolate gift boxes online at all? :dance:

Lotta

andrew_lloyd

Lotta_Littlies wrote:

Sounds like it's all coming together nicely! Are you still tacking the mortgage and planning to pay it off asap?

Oh, and are there any plans on selling chocolate gift boxes online at all? :dance:

Lotta

I have a bit of a feeling that there may be a re visited in a couple of years, so the pressure is still on to keep a watchful eye on the finances just in case.As for selling the chocolates on line this is a definate yes and a web site is under construction as we speak. Don't like to blow my own trumpet but the chocolates really are yummy, especially the rum the baileys oh yes and the whisky and oh you get the picture. I won't abuse the site but if you like I will email you the details when it is live (about 2 weeks).