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19 September 2006

Making Plans for Business

It is a very busy time taking the steps needed to becoming self-employed. There are so many things to organise and sort out. For example; what business are you in? Where will you work from? How will you market the business? Who and where are your customers? Etc, etc, etc...

Incidentally, am I an entrepreneur or just somebody who works for himself? And is there a difference? The answer has probably got something to with the amount of money to be made - although I guess there is a difference between the person launching an innovative new product and somebody working as a plumber. According to the guy who lectured at the business start up course I attended; an entrepreneur is a 'risk taker' - but surely anybody starting a business at whatever level is taking a risk? And therefore anybody starting in business is an entrepreneur? I'll get my dictionary...

Anyway, where was I? Oh yes, very busy trying to get organised. Well it is still early days in my journey and trading doesn't start officially until 2nd October so I've got a couple of weeks yet. Then I should have all of the elements in place and can start advertising and handing out business cards.

Actually, there are things that really hold up your progress when you decide to start a business. One of them being the time it takes to open a business bank account - I was lucky in that I didn't want to borrow any money or have an overdraft facility (we'll see if this changes at a later date), but it still took a couple of weeks from filling in the forms to receiving my cheque book, cards, etc.

At the moment I am waiting for BT to install my new phone line (should be later today) and until they do they will not confirm the number. Naturally this means I haven't been able to have any business cards or other stationery printed - one more spanner in the works that delays the process still further.

With all of the stuff to do first in setting up and then actually running the business it is more essential than ever before to set goals and have a plan to work to. Hey, we could call it a business plan! What do you think?


12 September 2006

Swimming in the Sea of Self Employment

After more than twenty years in a steady job with a large organisation I decided to quit and dip my toe in the water of self-employment - Actually, there is no such thing as dipping a toe in the water when it is your only source of income; more like plunging head first into white water rapids. From here on there is no life boat!

Maybe I'm a bit crazy for giving up a steady wage, and doubtless many think I am, but after spending the majority of my working life (and almost half of my actual time on earth) toiling for a global motor manufacturer I felt it was time for a change. My decision was helped by the fact that the organisation appears (to those in the know) to be on borrowed time in the UK - and also by a separation package that more than covers my start-up costs.

Anyway, I've had a nice holiday and some time to sort myself out; so now it is onwards and upwards as I continue with my preparations - trading starts officially on 2nd October! Watch this space to see if I sink or swim...