Has anyone ever started up their own business?

OoOverclockaoO said:
R4 by any chance?
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Hi yes that is my current main seller. But i will be moving away from just retail and moving on to the production and sale of 37' and 42' Full HD All in one PC's.
 
Just read how spie set up OCUK, remarkable story, and well done, it just shows hard work does pay off.

If you are willing to put the effort in, you can make almost anything work :cool:
 
I started up a business but I failed to appreciate the complexities of tax, book keeping and other riveting subjects and it went bust. I learned a lot though and will probably give it another bash in the future, going bust is much easier the second time.
 
I haven't set up my own business but it's a life goal I always wanted to achieve and still do. But the older I get (and the more bogged down with a very good employee job, mortgage, wife and kids), the harder it is to risk it. This is a bit of a shame as I'm often working 50 to 60 hours a week and would clearly be much better served putting those hours in on my own ineterests.

But if I had my early years again I would most definitely start something. I realise now that when you're young the risk of messing up is very small indeed. I read Rich Dad Poor Dad a few years ago and it makes a lot of sense.
 
sanaxe1 said:
Im 18 at 6th form and currently run my own online business selling a certain Nintendo DS accessories which i import from china. The initial start up cost for me was very low only 1000 pounds and after the first stock of 50 i was self reliant with funds and making 500 pounds a week profit on average. However this can fluctuate between 300 a week to 1000 a week depending on sales. I am looking into a new business opportunity which could be very successful and hopefully i can even sell it thought good old overclockers if i could get in touch with gibbo about the product. :)
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Could I get a link to your site?
 
If so what kind of business did you start? - IT services for businesses and schools. Started out offering practically every service possible but have now focused around installing & maintaining networks, plus software/database development.

How did you get it set up financially? - Started with nothing, although put some funds in from myself as a float a few months after to aid with larger jobs.

Are you still running it? - Yes, just completing my first year of trading.

Is it successful? - I'd like to think so. Not mega bucks, but I'm quite pleased with the figures considering the market and being the first year of trade starting form nothing. It's looking promising.
 
Me and the missus set up an estate agents 18 months ago run from a log cabin in the garden, sold 26 houses last year and have sold 32 so far this year with another 16 going through.

Just taken on our 2nd full time employee.

Hard work tho.
 
Spit said:
Me and the missus set up an estate agents 18 months ago run from a log cabin in the garden, sold 26 houses last year and have sold 32 so far this year with another 16 going through.

Just taken on our 2nd full time employee.

Hard work tho.
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How much of a cut do you take per house?
 
If so what kind of business did you start?

I started my business 3 / 4 years ago, I moved to Prague to study medicine, I wanted sky but could not get it locally so took a box over form the uk, I then look a couple of boxes over each time I flew home and made a bit of extra cash.
This basically grew into a legitimate business, I now have a small team of hard working staff selling and install higher-middle end home cinema equipment, we install hundreds of satellite dishes to pickup anything from Russian TV (2m dish) to local Czech TV. I also do the full TV/Satellite installation for new building developments (we just completed a development with 250 apartments); we also have also done quite a lot of working for the movie industry here in Prague of the past couple of months which has proved to be very lucrative.
And strangely enough we also sell Miele Kitchen appliances on top of being an authorized Anthony Gallo, Sony, Pioneer, Samsung and LG dealer.
Oh and im still a student for another year and a bit.


How did you get it set up financially?

I rented a building with a one year contract, I then sublet the apartments with a decent markup to short term tenants.


Are you still running it?

Yes

Is it successful ?

It depends, yes I do ok financially, I own my own flat, drive a nice car and have a good standard of living however I work like a donkey, I don’t do that well in university and I spend hours on the phone ever day which makes it very hard for me to spend any time with my girlfriends without my mobile going off.
 
spinneR~uk said:
Do you know why you want to run your own business?
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One good reason, not that I'm answering on behalf of the gent, is that going into business is one of the few ways of making real money in life that is both legally and morally acceptable.
 
Deadly Ferret said:
one of the few ways of making real money in life that is both legally and morally acceptable.
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I have to agree with this 100 %, most of my friends make more money than my dad who is VP in a huge pharmaceutical company where he has worked for 20 years.
You will never get rich working a 9 to 5 job
 
From what I've learned I have to say running your own business is hard going. Even though it seems great being your own boss, own holidays etc. Usually every penny you earn goes back into the business and you don't start making money for a fair few years down the line.
 
I'd be really interested in hearing the general costs of insurance and book keeping and employing an accountant for the small business owners such as pc repair, etc.
 
Made ~£20k selling my own "shareware" software around 1998-2000.

Not many days go by without me thinking of doing it again - sodding commitments though... :mad:
 
just in the process of setting up a small business now.
Creating the business and getting it registered was the easy bit.
Currently it's just some thing for me to do in the evenings and weekends to fund my camera addiction.
Never know, it may take off and i can finally get out of I.T.
Initial income will be minimal, but i need a company to keep it clean regards invoicing customers and making sure tax and n.i is paid.
 
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