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  #41  
Old 21.07.2011, 11:27
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Re: Do you have a business?

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Here's another thing I thought of:

owning your own business is incredibly lonely. You go from having one boss to having a million. Your phone is your boss. Your emails are you boss. The post is your boss. Every customer is your boss. You are constantly pulled from one minor crisis to the other and struggle to find time to push forward with even a modicum of what you thought your vision would be. In the first few years (5? 10?) money might be much tighter than in your previous job and the work much harder. You may look at people who turn up to an office every day, chat with colleagues, have a bad month and still walk home with the same pay at the end of the month as incredibly lucky. You have to graft for every penny and if you don't make the rent that month you go into debt hoping the following month something will change but it probably won't because the damn phone keeps ringing and that late shipment finally arrived and it's wrong and...
.....and theres noone else there to share the decisions nor the problems with.
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  #42  
Old 21.07.2011, 11:30
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Re: Do you have a business?

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Here's another thing I thought of:

owning your own business is incredibly lonely. You go from having one boss to having a million. Your phone is your boss. Your emails are you boss. The post is your boss. Every customer is your boss. You are constantly pulled from one minor crisis to the other and struggle to find time to push forward with even a modicum of what you thought your vision would be. In the first few years (5? 10?) money might be much tighter than in your previous job and the work much harder. You may look at people who turn up to an office every day, chat with colleagues, have a bad month and still walk home with the same pay at the end of the month as incredibly lucky. You have to graft for every penny and if you don't make the rent that month you go into debt hoping the following month something will change but it probably won't because the damn phone keeps ringing and that late shipment finally arrived and it's wrong and...
Since when have you been a fly on my wall?
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  #43  
Old 21.07.2011, 12:06
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Re: Do you have a business?

The old chestnut still applies: 1% inspiration, 99% perspiration.

I'll add 'Tenacity' to that brew. You will be very much alone, with the world telling you you're daft. You'll wake up anxious and go to bed anxious. You'll have no holidays - even if you can afford them you'll not find head space - and it's quite likely you'll fail.

IMO run into it - don't even look before leaping - and get on with it. Too much planning, analysis, calculating, pondering, chewing on biros will impede your progress. Be a fool, but a determined fool and hire a sober accountant. Much better to lose the farm and have made the effort than work for a bank.
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  #44  
Old 21.07.2011, 12:32
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Re: Do you have a business?

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You'll have no holidays - even if you can afford them you'll not find head space
i have that anyway, and i'm not self-employed!
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  #45  
Old 21.07.2011, 13:08
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Re: Do you have a business?

Read "Secrets of a Six-Figure Woman" by Barbara Stanny. It's a terrific book that helps to establish a set of great priorities.

"Let go of the ledge. Do what you fear! Feel the fear and go for it anyway. Get in the game."

Six Figure Traits (Must haves)
  1. A profit motive
  2. Audacity
  3. Resilience
  4. Encouragement
(Big Helpers)
  1. Self Awareness (strive to know who they are and what they want)
  2. Non-attachment (let go of what doesn't work)
  3. Financial Know-how (Understand and follow the rules of money)
"You've got to be willing to to be uncomfortable"

Focus on fulfilling your values rather than the financial gains and the money will simply follow.

It's a very interesting journey, one I've just begun myself.

Best of luck to you in what ever you decide to do!
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  #46  
Old 21.07.2011, 13:17
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Re: Do you have a business?

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Read "Secrets of a Six-Figure Woman" by Barbara Stanny. It's a terrific book that helps to establish a set of great priorities.

"Let go of the ledge. Do what you fear! Feel the fear and go for it anyway. Get in the game."

Six Figure Traits (Must haves)
  1. A profit motive
  2. Audacity
  3. Resilience
  4. Encouragement
(Big Helpers)
  1. Self Awareness (strive to know who they are and what they want)
  2. Non-attachment (let go of what doesn't work)
  3. Financial Know-how (Understand and follow the rules of money)
"You've got to be willing to to be uncomfortable"

Focus on fulfilling your values rather than the financial gains and the money will simply follow.

It's a very interesting journey, one I've just begun myself.

Best of luck to you in what ever you decide to do!
christ, that sounds like a room full of useless managers having a meeting

probably (but I doubt it) ok for the US market, but will just annoy the hell out of anyone from the rest of the world
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  #47  
Old 21.07.2011, 14:19
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Re: Do you have a business?

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christ, that sounds like a room full of useless managers having a meeting

probably (but I doubt it) ok for the US market, but will just annoy the hell out of anyone from the rest of the world
+1

Synergy. Syynneerrgggyyyyy

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  #48  
Old 21.07.2011, 16:54
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Re: Do you have a business?

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+1

Synergy. Syynneerrgggyyyyy

...............
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  #49  
Old 21.07.2011, 17:21
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Re: Do you have a business?

I don't think your business has to be something you love, nor do I think you need to do it for the money.

Many people start a new business just to be their own boss. I have several friends who have started their own business, not to make loads of money (although of course they do all hope to comfortably survive) but more because they want to be the boss. They don't want to work in large organisations with long chains of command, they want to make the decisions and live or die by the decisions they make.

Also, my sister for example, decided she wanted to run her own business. She had no real passion for anything, no business "found her". She went looking. Looking for something she could do that would allow her to run her own business.

And she found it. She surprised us all as she set up a patisserie. She had no love of baking, and had never worked with food at all. But she learnt the business, ran it for 10 years and then sold it at a massive profit.

She worked crazy hours, didn't have a life for a long time, didn't pay herself for a long time, but in the end had a great experience, learnt a lot more than she would have staying in "big business" and the pay off was great.

BUT now that she has 2 kids she is working part time for someone else, she has not the time nor the inclination to start up again.

So, in summary, I don't think it is about making money and nor does it have to be something you love. I think it is more about being your own boss and the thrill of making it work.
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  #50  
Old 21.07.2011, 17:52
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Re: Do you have a business?

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You will be very much alone, with the world telling you you're daft.
I did the same before: went to some entrepreneur drinks and told new starters that their business ideas are daft. It's fun, you should try it as well!

P.S: While I do not really believe every management handbook - there are some basics that are most probably quite handy to know... before you invest your savings in an idea - let alone a year of your time - read a bit about things like "business model" "forces of competition" and so on - reading costs you next to nothing... not knowing what you do wrong potentially a lot.

P.P.S: If you don't manage to explain your business idea within some 30 seconds, I bet it won't work.
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  #51  
Old 21.07.2011, 18:00
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Re: Do you have a business?

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P.P.S: If you don't manage to explain your business idea within some 30 seconds, I bet it won't work.
10 seconds mate, 10 seconds.

Cheap, fast and tasty hamburgers and fries that are the same every time.

A better way to find what you really want on the internet quickly.

Selling high quality/artisanal British cheeses in Switzerland.

Erm, so basically it's a website where you can meet people but it's different from a normal dating site because the descriptions get voted on and people should like it because.... NO. FAIL.
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Old 21.07.2011, 23:19
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Re: Do you have a business?

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Hello,

I am thinking a lot about the future and since I would love to work for myself and since we are going to come back to Switzerland after this adventure, I want to start thinking about options and opportunities.

We have so many successful entrepreneurs on this forum, it could be nice to share a bit of your experiences.
I just knew you wouldn't be able to stay away.

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How did you start you business?
What brang you the idea?
How did you find the idea and what you needed to achieve it?
Was it already in your mind to do that specific business or did you just try to find what would be the best to do?

Any stories of how it was at the very beginning?

Was it difficult to start?
When we returned home to Switzerland I thought I would just carry on working for a big relocation firm, as that is what I had been doing for years. Got an offer and along with it was a list of do's and dont's, to the likes of which I had never seen. I knew that wasn't me so I turned them down and started with a partner locally, but in a short time realised I have my own style and I needed to be on my own.

It was not easy, and it isn't getting any easier. So what keeps me going? Just one thing, my clients. To be told I am "one in a million" means the world to me.
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  #53  
Old 21.07.2011, 23:52
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Re: Do you have a business?

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I have to agree here. Many people who have never run their own business think that doing so would be like owning a gold mine. Trust me, it isn't. If you have a fantastic idea/product and have enormous passion and energy for the idea, don't mind working 60 or 70 or more hours a week, sometimes - especially at the beginning - for little financial reward, then go for it.

Running a business can also be the loneliest profession, if you work for another company, if things are going wrong you go home at the end of the day to your life and family, if you work on your own you don't have a shoulder to cry on (well you do, but your wife or husband will soon get sick of it). Having said that it can be a lot of fun and for me it is a creative process, creating a product/market/service and having happy satisfied customers is a fantastic reward, even if the money isn't
Mr Grapefruit --

Was it you I overtook on the Zurich-bound A3 a few days ago at lunchtime, driving a white Transit bearing the British Cheese Centre insignia?

Whoever was driving looked like the world's troubles were sitting on his shoulders. Which (if it was you) might back up the sentiment you expressed.....
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Old 22.07.2011, 11:32
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Re: Do you have a business?

Here's an interesting (imo) article on a farmer turned crisp producer turned vodka distiller:

http://www.guardian.co.uk/business/2...iday-interview

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The entrepreneur who sold Tyrrells crisps for £40m has moved on – and now makes Chase Vodka in Herefordshire
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Old 22.07.2011, 12:16
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Re: Do you have a business?

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Mr Grapefruit --

Was it you I overtook on the Zurich-bound A3 a few days ago at lunchtime, driving a white Transit bearing the British Cheese Centre insignia?

Whoever was driving looked like the world's troubles were sitting on his shoulders. Which (if it was you) might back up the sentiment you expressed.....
That would have been me, my driving time is generally my thinking time so i may just have been pre-occupied

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Here's an interesting (imo) article on a farmer turned crisp producer turned vodka distiller:

http://www.guardian.co.uk/business/2...iday-interview
Really nice article, thanks for posting!
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  #56  
Old 22.07.2011, 14:50
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Re: Do you have a business?

How did you finance your business? did you have some money on the side? Investors? Banks?
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Old 22.07.2011, 14:55
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Re: Do you have a business?

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How did you finance your business? did you have some money on the side? Investors? Banks?

as mine started as a sideline it was self financed, with all money from sales etc going straight back in, when we started to get big then a former friend joined as a silent partner (emphasis on former, business is the quickest way to lose friends)

even when the money was flooding in the banks didn't want to know, they would only lend if I personally guaranteed the loan, which was pointless as I could get cheaper personal loans anyway.
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Old 22.07.2011, 14:55
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Re: Do you have a business?

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How did you finance your business? did you have some money on the side? Investors? Banks?
You can use cash savings or a loan or create a (please god very simple and complete) business plan to show to potential investors. When you do please use the line:

"My business plan and carefully researched industry figures suggest you will see your investment returned in X to X months/years and your end of the profits after than should see a pretax return of around X per year."

Don't expect people to hand over cash without this line.
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Old 22.07.2011, 15:00
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Re: Do you have a business?

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How did you finance your business? did you have some money on the side? Investors? Banks?
Generally you need a good track record for 3-5 years for the banks to be interested. Avoid business angels etc because they take all your equity and force bad decisions on you.

Borrowing from friends is not a good idea unless they can afford to lose all their money and still count you as a friend.

Best way is savings, worst way is on your credit card. Good terms from suppliers is always helpful.
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Old 22.07.2011, 15:02
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Re: Do you have a business?

Yes but personnally, how did YOU finance it?
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