The Leap Of Faith...

5limJim

Am curious as to how many people on here have started something up themselves with minimal funds, and whether its been a success or not... My friend has just quit his own job to start a recruitment company, though he took a major chance as he only had about 1 months salary to cover him, fortunately he works from home so his costs from that point of view are minimal... I think he just reached the point in his job where he couldnt take anymore.. Has anyone else been in this situation and how did it work out for them?

Apologies if this is in the wrong forum

motorguy

I started my own business 6 months ago. i haven't been able to draw a wage from it yet, but hope to in the next six months. I'd rather be reinvesting the profits so far in growing the business, plus i have some funds to keep me going, and a v understanding partner!

Its VERY different from working for a large company, but so far i love every minute of it!

5limJim

pgilc1 wrote:

I started my own business 6 months ago. i haven't been able to draw a wage from it yet, but hope to in the next six months. I'd rather be reinvesting the profits so far in growing the business, plus i have some funds to keep me going, and a v understanding partner!

Its VERY different from working for a large company, but so far i love every minute of it!

Its amazing how much my friend has changed, yes he has the responsibility and has to work as much as possible, but how much he's changed for the better since he quit his job and took the plunge... its easy to get sucked in to doing the same thing.... Wish I had the confidence to do it, its a long term aim for me to do so...

fguk

Hi

I am coming up to 2 years working for myself. Had to do it when I did as work was going down a path I didnt want to follow, and my life was only going to get more expensive (wedding, house, children), so I had to "take the leap" when I could afford it.

Anyway, I kept my costs to a minimum (scares me to think about people that need to manufacture things, or fit out a shop!), had an understanding partner, and now take a wage along with my business partner.

We were lucky, had a good contract to keep us afloat while looking round for other clients. Good customer service and reasonable charges has meant steady growth in our customer base, and what we hope is just the start of a much larger business.

I would recommend working for yourself to anyone, although it may not suit everybodies nature and/or profession. Personally I found the fresh mental challenge learning about how to run a business a great motivator. I havent had a holiday in the last two years and really dont feel like I need one (much to my g/friends disgust!).

5limJim

fguk wrote:

Hi

I am coming up to 2 years working for myself. Had to do it when I did as work was going down a path I didnt want to follow, and my life was only going to get more expensive (wedding, house, children), so I had to "take the leap" when I could afford it.

Anyway, I kept my costs to a minimum (scares me to think about people that need to manufacture things, or fit out a shop!), had an understanding partner, and now take a wage along with my business partner.

We were lucky, had a good contract to keep us afloat while looking round for other clients. Good customer service and reasonable charges has meant steady growth in our customer base, and what we hope is just the start of a much larger business.

I would recommend working for yourself to anyone, although it may not suit everybodies nature and/or profession. Personally I found the fresh mental challenge learning about how to run a business a great motivator. I havent had a holiday in the last two years and really dont feel like I need one (much to my g/friends disgust!).

What area did you venture into? Sounds like you're enjoying it though whcih I think is the most important part, think I have a little way to go in the confidence stakes before I make that leap, though if the way work is heading for me at the moment it may be sooner rather than later so am looking to start my research now.. I'm happy to sacrifice holidays for a couple of years, though like you say am not sure the g/f will though;)

fguk

Well I was an IT manager, so it was a no-brainer to use my skills in the support of local SME`s with their computers.

You sound like you are doing the right thing, research thoroughly and pick your moment well.

Good luck with what you want to do.

phill79

fguk wrote:

Well I was an IT manager, so it was a no-brainer to use my skills in the support of local SME`s with their computers.

You sound like you are doing the right thing, research thoroughly and pick your moment well.

Good luck with what you want to do.

How did you go about starting this? eg, adverts in mag's or direct marketing.
Thanks
Phill

fguk

A mixture of everything, but contacts with local business people before we started were very valuable.