On my own

[oneofthedamned]

Got to work on Monday, more redundancies announced, walked in the office and volunteered. I am now on my own, a self employed spark. I was hoping to do about a year of working on the side before taking the plunge.

Fortunately over the last three years while I've been attending college I have bought all the tools I think I might need (many from lists and suggestions from this forum, Thanks again lads). I have a little van all sign written, all the insurance I need, I was accepted by Napit as I said the other week. Basically I am set up without having to spend any of my redundancy package. I have never been self employed before and I feel terrified is this normal? Shouldn't I be exited?

 

[green-hornet]

I hope like me given time you would say its the best thing you have ever done.

Setting up on your own without any help can be very frightening.

You will need the support of your friends and family to get you going, and until you are established you will have to work harder than you did whilst employed.

Keep your books up to date and get an accountant he can save you some money when it comes to your tax returns, he can also give you some points as to how well your business is growing.

Good luck I wish you all the best.

 

[batty]

Not good times to be on your own but look after the customers when you get them and they will recommend you to there friends and family. Most of my work comes from recommendation and existing customers. Keep your prices keen but don't sell yourself short to get work. Good luck.

Batty

 

[The Godfather]

I have never been self employed before and I feel terrified is this normal? Shouldn't I be exited?

Quite normal, and it will soon disappear once you get going into a work like routine.

There will be ups and down, but I'm sure these will even themselves out.

With self employment it is best, that your own personal financial commitments are low (for obvious reasons), when starting out.

Keep on top of your paperwork (and keep those receipts/invoices/banking up to date).

regards

The Godfather

 

[Apache]

Good luck with it

Get yourself listed here

http://www.talk.electricianforum.co.uk/showthread.php?t=2370

Google local is free advertising

 

[wozz]

As godfather said keep your financial commitments as low as possible, then its alot less pressure if u have a dip in work, and gives you more options when you have a bit of money to expand your business.

 

[SPECIAL LOCATION]

Now this may sound harsh...

it is a fact...

Most small businesses fail withing the first five years

so your first 3 or 4 years are going to be hard graft...

then as you come though you 5th year, assuming things still ticking over you will have build up a good customer base & leaned by experience a few of the areas to avoid and the good bits to really push & promote!

HTH