I feel trapped and have very few options

Takeaway_Addict

heartbreak_star wrote: »

Established competition, one would think. It's a hard market to break into.

HBS x

Thats not an overhead, that is a barrier to entry

AngelPie78

ScorpiondeRooftrouser wrote: »

Right - so your business is making a profit. You can't include money you need to live on before you work that out. Anything over £500 a month and you are making a profit.

You need to separate the business finances from your personal finances.

Erm thanks my finances are separate. The business is just about breaking even but it has debts from starting out which need to be paid back and, now that I have a business partner, most projects are split between us. So the £500 this month is actually only £350 so I'm £150 down for the business and have no money to take from it for my personal finances.

I'm not going to get into my finances in this public forum but the business is currently in debt and, I very much doubt it'll even break even in 16/17.

So my business needs £500 a month to just break even but this doesn't include any money due to my business partner as she is paid first and then the business gets it's share.

AngelPie78

ScorpiondeRooftrouser wrote: »

This is rubbish. By using "alternative" practitioners you are throwing away money and possibly endangering your health. The reason they are alternative is because they cannot provide evidence that they work.

It doesn't matter whether you believe this or not; it is a fact.

Ok wow that's a little harsh. So what would you suggest I do about my mental health? My doctor gives me meds - one tablet a day and then signs me off when I go to her with anxiety and stress if I try and work on my business and have a job.

AngelPie78

MatthewAinsworth wrote: »

And there are non killing jobs in the military too...

Hehe I know - I was just teasing. Not my thing but thanks for the suggestion.

Takeaway_Addict

AngelPie78 wrote: »

Erm thanks my finances are separate. The business is just about breaking even but it has debts from starting out which need to be paid back and, now that I have a business partner, most projects are split between us. So the £500 this month is actually only £350 so I'm £150 down for the business and have no money to take from it for my personal finances.

I'm not going to get into my finances in this public forum but the business is currently in debt and, I very much doubt it'll even break even in 16/17.

So my business needs £500 a month to just break even but this doesn't include any money due to my business partner as she is paid first and then the business gets it's share.

So your costs between you and your business partner are £1000 per month...for an at home business.

I know there are costs associated but IMO you need to get a much better grip on these and be a bit more clever on where and how you meet clients etc.

The business will work if you want it to but you need to re-evaluate how you operate....and why have you got a business partner anyway?

AngelPie78

Takeaway_Addict wrote: »

So your costs between you and your business partner are £1000 per month...for an at home business.

I know there are costs associated but IMO you need to get a much better grip on these and be a bit more clever on where and how you meet clients etc.

The business will work if you want it to but you need to re-evaluate how you operate....and why have you got a business partner anyway?

I have a business partner who does web design and I do web development. There are very separate skills.

I'm not gonna be able to confirm the exact outgoings for the business because everything is changing next month. We actually run two separate businesses and collaborate on projects. I have my own dev projects and she has her own design projects so the money for those proj cts stays with the person who's done the work. We collaborate on some projects and invoice each for work completed. I don't think her expenses will be as much as mine as she doesn't have the same need for some of my subscriptions but maybe she uses different ones? She also only works part time and doesn't do as many network events. We haven't put our heads together and works out all the ins and outs yet. This is why I didn't want to get into it and am being vague - cos everything is changing and there is very little consistency at the moment.

fiisch

AngelPie78 wrote: »

I'm not going to get into my finances in this public forum but the business is currently in debt and, I very much doubt it'll even break even in 16/17.

You did in your opening post......


I think you need to ask why you keep getting shat on. These forums are brilliant for advice and help, but I don't think you know what you're asking. There are a number of separate issues which each need addressing e.g.: job hunting; childcare; business financing etc...


Break it down, work through the issues in order. If you have specific questions, this is a great place to ask.

AngelPie78

fiisch wrote: »

You did in your opening post......


I think you need to ask why you keep getting shat on. These forums are brilliant for advice and help, but I don't think you know what you're asking. There are a number of separate issues which each need addressing e.g.: job hunting; childcare; business financing etc...


Break it down, work through the issues in order. If you have specific questions, this is a great place to ask.

I meant the nitty gritty of my business finances.

But all the issues are mixed up in the ultimate one which is what am I doing with my career?

Q. Ok so do I carry on with the business or get a full time job?

A. Depends on what kind of job you can get/money you need to earn/childcare costs/travel to work/current business income etc etc...?! There's lots of issues to consider when making the decision. Hence why I have this problem.

Could you break them down for me? Perhaps I'm just overthinking!

ScorpiondeRooftrouser

AngelPie78 wrote: »

Erm thanks my finances are separate. The business is just about breaking even but it has debts from starting out which need to be paid back and, now that I have a business partner, most projects are split between us. So the £500 this month is actually only £350 so I'm £150 down for the business and have no money to take from it for my personal finances.

I'm not going to get into my finances in this public forum but the business is currently in debt and, I very much doubt it'll even break even in 16/17.

So my business needs £500 a month to just break even but this doesn't include any money due to my business partner as she is paid first and then the business gets it's share.

That doesn't look like you have a business partner at all; what you have there is a contractor. You should decide who your business pays first.

Is your business coach a paid adviser?

ScorpiondeRooftrouser

AngelPie78 wrote: »

Ok wow that's a little harsh. So what would you suggest I do about my mental health? My doctor gives me meds - one tablet a day and then signs me off when I go to her with anxiety and stress if I try and work on my business and have a job.

I would suggest you do whatever professionals tell you to do and not rely on quacks who are deliberately lying to you to steal your money.