• Visitors can check out the Forum FAQ by clicking this link. You have to register before you can post: click the REGISTER link above to proceed. To start viewing messages, select the forum that you want to visit from the selection below. View our Forum Privacy Policy.
  • Want to receive the latest contracting news and advice straight to your inbox? Sign up to the ContractorUK newsletter here. Every sign up will also be entered into a draw to WIN £100 Amazon vouchers!

Entrepreneurship. Is it a fad? Why are all my friends doing it?

Collapse
X
  •  
  • Filter
  • Time
  • Show
Clear All
new posts

    Entrepreneurship. Is it a fad? Why are all my friends doing it?

    Since the programmes "Dragons Den" and "The Apprentice" have come out, I've got one friend who has started up a business reclaiming bank charges, another as a headhunter, a third as a used car trader, and a fourth as a web-based data backup service. Have you noticed any or many of your friends and significant others going down this route recently? What sort of things have they started, and has it been a success for them?

    Its not that I mind that per se, but the trouble is I've decided to do it as well, and I don't want the competition. . Three months ago I took voluntary redundancy from a firm (I was a permie ) and spent the first 6 weeks on holiday, and the second six weeks writing some code hopefully to sell as a web service.

    I've had the idea for the past 4 years and only now have had the time to implement it.

    My concern is that there are alot of sites that do stuff related to what I am doing, although none that do exactly what mine does. If all these sites have been created by people who have had an entrepreneurial idea then they are going to get in the way of my idea as companies are going to get flooded with "entrepreneurs" cold-calling them all the time.


    On another subject, all the time that I'm trying my idea, my skillset (Microsoft SQL Server admin) is perhaps starting to get eroded over time? How long does it take for employers/clients/agents to start thinking that a contractor has started to "forget" skills and therefore be less employable? 3 months, 6 months, two years?


    Cheers,

    KentPhilip

    #2
    Take your business idea, do a plan and then present it to "the dragons"
    Let us not forget EU open doors immigration benefits IT contractors more than anyone

    Comment


      #3
      And lose 50% of your business for some pittance like £60K. Fork that!

      Tight fookers.

      Comment


        #4
        Sounds like you have thought through your plan very well and covered all the possible outcomes. Yeah right, back of a fag packet ? You have a vague notion of a bit of software which might already be available, probably free. You have no idea of the likely market or demand, no ability to present what you have to the market or means of delivery (or is that - I will email you the code perhaps ?)
        I suggest you get a job before the skills go, yes a few months is enough for them to slide and turn you into a fool at the next job. While there, in all the time you don't spend working (or some of the time you do) you can properly work out whether you actually have something to sell. This can all be done around your normal job.
        I doubt the 'den' are preparing a comfy chair for your arrival just yet, but good luck anyway !

        Comment


          #5
          Originally posted by DimPrawn View Post
          And lose 50% of your business for some pittance like £60K. Fork that!

          Tight fookers.
          Precisely.

          I've got £60K (and then some). It's business I need, not investment.

          Comment


            #6
            Originally posted by lukemg View Post
            Sounds like you have thought through your plan very well and covered all the possible outcomes. Yeah right, back of a fag packet ? You have a vague notion of a bit of software which might already be available, probably free. You have no idea of the likely market or demand, no ability to present what you have to the market or means of delivery (or is that - I will email you the code perhaps ?)
            I suggest you get a job before the skills go, yes a few months is enough for them to slide and turn you into a fool at the next job. While there, in all the time you don't spend working (or some of the time you do) you can properly work out whether you actually have something to sell. This can all be done around your normal job.
            I doubt the 'den' are preparing a comfy chair for your arrival just yet, but good luck anyway !
            You are Theo and I claim my £100k investment.

            Comment


              #7
              Originally posted by DimPrawn View Post
              And lose 50% of your business for some pittance like £60K. Fork that!

              Tight fookers.
              50% of something is better than 100% of Fxxx all
              Let us not forget EU open doors immigration benefits IT contractors more than anyone

              Comment


                #8
                Actually, I disagree with the others, I think you are a genius, I will be taking a punt but I am prepared to make you an offer. £50 and for that I only want 70% of your gross earnings from any source in perpetuity....

                Comment


                  #9
                  Originally posted by lukemg View Post
                  Actually, I disagree with the others, I think you are a genius, I will be taking a punt but I am prepared to make you an offer. £50 and for that I only want 70% of your gross earnings from any source in perpetuity....
                  Ah! You're Peter Jones, not Theo then?

                  Comment


                    #10
                    Originally posted by DodgyAgent View Post
                    50% of something is better than 100% of Fxxx all
                    That's like saying it's worth working even if the government are taking 90% of your earnings. It is not worth it.

                    The lazy arsed "dragon" throws in a days earnings and expects you to work yourself to death building up a business and they reap half of your effort.

                    They are the worst sort of loan sharks out there!

                    Comment

                    Working...
                    X