Millionaire Challenge

Double_Trouble

From a lurker I too hope that this thread gets back on track there are plenty of other threads for those that want to rant

DTxx

rictus123

Well my part time business i took on the £13,500 debts for has made its first return - £1,600 after 3 weeks and thats net wage. Happy with this but it will be very rare its as good as this. Will try to take simular salary another 4 or 5 times this year so will be £6,500 - £8,000 net income from this business.

tinktay84

Thats great going and its great that you are realistic with regards to earnings..that will mean you are less likely to give up when the going gets tough.
Well throughout the day today, as well as working my bum off trying to get a job to a particular stage, ive ben making notes in m diary of any ideas, thoughts, comments and also some 'to do' items

I feel a lot more organised for it- whether I am is to be seen!haha

tinktay84

Well ive just looked back over the notes ive made in my diary today and actioned a few emails/letters etc which I probably wouldnt have done had I not written a note so hopefully it is the start of something.

Just discovered that based on valuation 6 months ago my house has 25% equity, I thought it was a lot lower than that (although when originally valued I took a mortgage of just 65% :-( ) so another bit of good news.

I also found I was a lot more focused today and managed to get a lot more work done and spur my staff on a bit more without being too critical or an evil boss (I hope!)

lessonlearned

Right this week I have so far

Made £160 extra - cash back and money owed to me.

Slashed my food budget - avoiding the big 4 supermarkets, using farm shops, local shops etc
Organised my diary

Ok still small fry in the grand scheme of things, but it's a start.

How are you all doing.

rictus123

Well its small steps and it all adds up!! One of lines best lessons, living withen your means but trying to exceed your dreams on the business front.

tinktay84

£160 is no small fry in my book! Well done Well ive been keeping up with writing notes throughout the day and then sitting down in the evening and seeing what I can do to action/fix/improve on whatever notes ive written.
My diary is starting to fill with different targets and ideas throughout the year. Ive put a target every 3 months, a mini target each week etc and I feell a lot more focused.

Ive even started noting down exercise which (being stubborn and competitive) has actually made me do more exercise as I want to improve each day. Im aching all over but ive already a little more energy.

I still want to work on the idea of the shop and am still toying with it but really need to implement a few steps between where I am now and opening a shop. I think having an office base is my next logical step as the paperwork and organisation is quite a large chunk of the business but can I really afford the extra £600- £800 a month that it will require.

im in a bit of a catch 22. Cant afford an office/admin staff without increasin business, cant increase business without freeing up my time i.e. having someone else do the admin

lessonlearned

Do you have to have a physical office, what about a small showroom with a back office, would that be cheaper.

What do you need one for, is it just invoices, quotes, and wages, phone enquires, etc - can these be done by a homeworker. You could start with someone say part-time who works from home and you take the work to them. They could be freelance rather than salaried staff.

My friend was an accountant and when her children were small she used to do this - first a few hours in the evening and then building up to more whilst they were at nursery.

Well done on the exercise. Definitely need to start again once my back is better - off to physio tomorrow so that should help.

I had £250 in cash and cheques for Christmas (I know lucky me)> I don't really need anything just now so have decided to add that to the pot so now at a healthy £400.

Feeling quite pleased.

tinktay84

Wow £400 is a pretty impressive sum. Doesnt matteer how you earn it legally obv.) and you have chosen to use it in this way so its all good :

I considered home work etc but no one wants to declare a few hrs a week so im struggling to fin anyone within a reasonable distance.

Ive also considered one of these virtual offices but im not too sure ts for me. I want to be able to pop in whenever i want and peak to someone wo kows the ins and outs of my business.ts for answering calls, enquiries, writing out job sheets, wages, invoices, advertising .all kinds really with the view tht in a few years I could seperate accounts from sales and so on but for now just have 1 person.
Ive been advised to go the apprenticeship route which would be great for my plan to help as many people as is feasable into employment

lessonlearned

tinktay84 wrote: »

Ive been advised to go the apprenticeship route which would be great for my plan to help as many people as is feasable into employment

Yes - I like the idea of giving people their first break - or even a second chance if they are unemployed or whatever. It is tough out there.

Hope you find someone suitable because then it would free you up to do more and grow your business.

Right off to bed now, early start tomorrow - still wading my way though SS stuff re the nursing home. Talk about red tape.:rotfl: