With so many companies making cutbacks, the opportunities for finding a new job may not be so bright. However, being your own boss may be the answer.
Under the current economic climate I would not suggest starting a small business or venture at this time. Unfortunately there are very few job vacancies at present so if you are being offered a redundancy package and have a business idea you would like to try then now is as good a time as any.
Business Startup
Three years ago family members wanted to start a business, selling fresh fruit bouquets, which seemed at the time one hell of a risk as the, so called, recession had just started. But they were determined to go ahead which is very normal once someone has the idea in their head to start a business. Now into their fourth year they are doing well with no debts and a growing client base.
Having been in that position a number of times over the last thirty years I understand the determination to go ahead with starting a new business or venture no matter what others may say. It is that determination that is an important quality a new business owner must have to see the business through the difficult times it will probably go through.
Not only do you need determination, but also stamina and focus and an, I will success attitude. Years ago you would have needed a large investment to set up a new business for stock, equipment, marketing material, premises to work from, etc but now you can set up a business with a relatively small start up budget. How to start a business with no money is still difficult but not impossible.
Small Business Ideas
Obviously it depends on what type of business you are going into but there are thousands that now run highly successful businesses by starting an online business and working from a home base, or small unit. If you are selling products you can normally arrange deliveries in small batches from suppliers and even have products delivered direct from your wholesaler to your customer.
If you are providing a service to the local community you can use your own car for transport to your customers but a van may be needed if you are carrying special tools for your work or need extra space to hold your products for delivery. A van is also a great place to advertise your business on.
Although we are, increasingly, having to conform to specific working practices there are still more businesses that do not need any form of licence or qualification to run their new business. The main requirement will be to register your business for tax regulations.
What are you giving up when you leave your regular place of work to run your own business?
Your pension will now be frozen, if you had one in the first place.
You do not have to be at your place of work at the same time every day.
You will not have a boss any more.
You do not need to arrange your holidays in advance which may conflict with other colleagues.
You will not receive that regular monthly cheque for your work.
You will not have a regular appraisal from your boss.
You will not have regular coffee or lunch breaks with your work friends.
You dont have to dress up as required by your employer.
You dont have to phone in sick when you want a day off.
What are you gaining when you set up your own new business?
Freedom to run your business how you want and when you want.
No need to top up your pension pot as there is probably no spare money yet.
Work the hours to suit yourself or as and when the business demands.
Take coffee and lunch breaks when you want although you probably will not have time to or have any spare money in the beginning.
Your income is now unlimited or more accurately limited to what you can sell of your products or services every month.
You are now your own boss and will regularly appraise yourself by asking yourself why you started your business in the first place when times get tough.
You can take as many days off as you like now but you will find you will work even harder and when you are ill, as you now have commitments.
Any additional profits you make will be ploughed back into your business as this is the first place that needs your extra cash for expansion.
If you are seriously considering starting a new business then realise you will get lots of negative vibes and comments from family, friends and anyone you mention your new business too. Do not be put off by them but do take on board constructive comments and opinions. The only people who think a new business venture is a good idea is the people setting up that business.
How to Start a Business
They say it takes about three years to get a new business on to a sound financial footing. In my opinion I think this still applies to a business that has to operate from a shop or premises. But working from home can mean the business can become profitable quickly and the Internet has allowed thousands of people to work from home running a wide variety of businesses you could not run before the Internet.
How or where you start a business will depend on the products or services you are going to provide. The very first order, no matter how much profit you make from it, will be special and you will find every order an achievement, which you should be proud of.
I have been self employed since 1980 working and running my own businesses. I spent the first 15 years of my working life employed in engineering and computing.
I wanted to work for myself and my first venture was buying a village stores and becoming a grocer. After two years and making little money I set up the first video library in my town in 1980, but many of my friends said I was mad. I sold the business after three years for a large sum and by then had purchased the freehold of the property the video library was located in. Mad, no, just determined and now, a little richer.
When my wife and daughter decided to set up Edible Bouquets in 2007 it was my turn to have doubts about it. I expressed my concerns about starting a gift business at the beginnings of a recession. But after seeing their professional approach and start up marketing material I then helped with putting a van on the road for their deliveries.
I decided also to help with marketing http://www.EdibleBouquets.co.uk and the Internet was where I believed I could help built awareness for their business. I had been self learning for some years about building websites and how to gain visibility on the Internet. It has taken me three years so far to get a few websites, especially Edible Bouquets, ranked highly and start getting traffic to the website. Now most new customers come from the website with the remainder from referrals and repeat business.
I want others to know how I achieved it and how they can do the same. I have a new website called http://www.starting-a-business.co where I am writing about my experiences and Internet marketing knowledge.
Alan Bunyan
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