new challenge needed my story - help pls

adamshaw

Hi All.

Brief background i am currently mid 20s and a qualified teacher / Assessor and Internal verifier.

Purchased a house back in 2004 with my now ex partner. we split in 2006 (just as the boom ooccured - not good timing). Went through a "pretty calm" breakup considering wat it could have been like. Therefore joint household income dropped considerably. Ended up remortgaging to pay her off! Struggled by for the next two years when my new mortgage was over half my net salary. But you know what it is like you plod through it and get by.

Before all this begun i started my own company specialising in accountancy and business consultancy. Did pretty well and used this cash as a deposit on the house for me and my partner. Looking back i was prob too young but you do what you think is right at the time. LOL

Obviously since then my salary has increased and iv helped my brother put a deposit down on his first property (aged 20) as he is on a relatively low income compared to myself (and mine is not fantastic).

However after overpaying on my mortage for the last 3 years i have managed to reduce the amount owed considerably within the restraints of my income. Unfortunaltey my business has been hit hard from the current recession and i am now closing the company (no debts or overheads etc). I am still teaching full time but was looking for business opportunities if anyone has any ideas and a new challenge!

I understand most people would say i am lucky to be in my position and to be fair i understand this. However after teaching for the last 5 years and running my own company for 6 (unfortunatley this will now be coming to an end) i now feel i am just plodding by and getting now satisfaction. I was hopeing to pay off my mortgage by the time i was 35 and a few years ago this was achievable. I would like to get back on track with my goals and appreciate any help where possible.

I also posted to encourage people who are going through "break ups" to keep their chin up and at the end of the day you can replace material objects and get back on track! i hope this inspires people who are currently struggling

pinkshoes

A good business is one that captures a niche or gap in the market.

Why don't you spend your free time researching people's needs, or pick fault with current objects/systems to see if you can better them.

Are we talking Dragon's den style project here?

adamshaw

Not sure to be honest my friend. all i know is you will not get ricvh working for someone else and that does seem the way forward. Difficult thing is finding that niche in the market

pinkshoes

adamshaw wrote: »

Not sure to be honest my friend. all i know is you will not get ricvh working for someone else and that does seem the way forward. Difficult thing is finding that niche in the market

It depends if your goal in life is to get rich! Mine is simply to be happy.

I could tell you SO many niche gaps in the market, but a good designer never gives their secrets away !

You can always find a niche in the market if you look hard and work hard. Look at different consumer groups, what people moan about etc...

Obviously the aim of any business is to make money, so although there are many niches to be claimed, not all are profitable!

Susan_Frost

Well done for all you have managed so far. Why not give yourself some time off from desperately looking for the extra stuff, opportunities pop up at unexpected moments and you seem the sort of guy to grab them when they do.

If you want extra cash at the moment, you could always let out a room in your house. I believe you dont get taxed for the first £4,xxx amount. It need only be short term.

Meanwhile, get out and about mixing/socialising a bit, talking to people and hopefully ideas will come.

You have also done well not to be left with leases or overheads.

Good luck.

adamshaw

Thanks for the imput guys. Yeah i have changed a fair bit, always out socialising from thur to sat and training in the week. Life is for living. It was not really about the money. Just the challenge to be honest. As long as i have enough to life my lifestyle how i am happy - which i do that is the most important thing. At the end of the day money can not buy happiness

Buddingblonde

Look for areas that already interest you - maybe even look at doing some voluntary work to inspire you. As you say happiness doesnt come from money it comes from what we do.