starting a business, quitting my job.

randal said:
Any tips? :D
Click to expand...

Primarily enjoy it, its hard work and can initially be not very financially rewarding at first but theres nothing quite as nice as knowing that last pound you earned is yours.

Secondly get some good accounting software on the go from the off, money chasing ina pita but made easier with a good database.
 
3Point5InchFlop said:
Sorry I should have mentioned that. It's due to the conflicting hours I can't start up on the side. I really wish I could. But there is no way to be both places at once.
Click to expand...

If your wife and third partner are in, can you not do what you need to do after work hours, with them working regular hours?

At least you would then have the financial support of your job, whilst you make sure what you're doing is viable.
 
Take your startup projections, and quarter them. Then decide can you live on that?

Either way, why not have the partner and your wife start up, while you maintain a regular income. If it goes well, quids in, if not, then you have a safety net.
 
billysielu said:
it's actually considerably average
http://career-advice.monster.co.uk/...-advice/uk-average-salary-graphs/article.aspx

but not trolling at all, just saying the chap can do better - so should worry less about giving up an average salary.
Click to expand...

You are considerably trolling. An average salary? Are you serious?

The average salary figure is considerably skewed and really a rubbish indicator. If the average is £20k for example. One person earning £30k needs ten people earning £19k to offset it. When you consider how many people in the uk are earning above £50k a year, then consider how LOW the average is, it shows you that there are many, MANY millions earning a comparatively low wage compared to the few thousand earning good money.

If I were earning £30k a year I would consider myself exceptionally well off.
 
MissChief said:
You are considerably trolling. An average salary? Are you serious?

The average salary figure is considerably skewed and really a rubbish indicator. If the average is £20k for example. One person earning £30k needs ten people earning £19k to offset it. When you consider how many people in the uk are earning above £50k a year, then consider how LOW the average is, it shows you that there are many, MANY millions earning a comparatively low wage compared to the few thousand earning good money.

If I were earning £30k a year I would consider myself exceptionally well off.
Click to expand...

He's not trolling, he just doesn't understand what average means.

Some people, for some bizarre reason use it to mean "not very good".

Think of it as being the same as people who refer to everything they like or anything that is positive, as being "amazing", and I think you'll understand why he's saying "average" in the way he is.
 
MissChief said:
You are considerably trolling. An average salary? Are you serious?

The average salary figure is considerably skewed and really a rubbish indicator. If the average is £20k for example. One person earning £30k needs ten people earning £19k to offset it. When you consider how many people in the uk are earning above £50k a year, then consider how LOW the average is, it shows you that there are many, MANY millions earning a comparatively low wage compared to the few thousand earning good money.

If I were earning £30k a year I would consider myself exceptionally well off.
Click to expand...

The problem is he's using mean salary figures instead of median salary figures as an "average" hence getting very skewed results. Median is much representative of what most people earn as billionaires etc don't effect the average.
 
Are there any proper median averages figures for UK salaries? CBFA to google myself, do it for me please.
 
http://www.ons.gov.uk/ons/dcp171778_286243.pdf

For full time employees:

Median salary £26,312.
Median salary in private sector £24,908.
Median London salary £33,956
Median salary excluding the south east ~£24,000.
Estimated median salary excluding the south east in the private sector ~£22,718

So needless to say £28k is well above average for someone outside London, even more so in the private sector.
 
Last edited:
That median London salary is hilarious. You couldn't afford to live in Central London for that. You'd have to house share or something.
 
The use of the word average should be banned when discussing income. Other than to promote a biased standpoint, there is absolutely no reason not to be be more specific and use the terms mean, median, or mode.
 
Ask for a months unpaid leave. If it looks as if it works out hand your notice and leave, if it doesnt then youve only wasted a month and lost only a few K.
 
Here is my 2cents:
If you are going to open up your own business, make sure it is something you enjoy and are passionate about <-- this makes you a success and it never feels like work!
What makes your business different? How do you provide something that others need or is different from your competition?
Lastly - go for it! You won't know unless you try. Sounds like you have a job, not a career. Man up, get this thing off the ground and don't stop until you are happy (which you never will be subsequently :D)

I did the above about 18months ago, been open 12 months and killing it :)
 
working with the mrs????


never work with loved ones. will sour any relationship over time.

what happens if your relationship ends???
 
I'd go for it. You'll always wonder what if otherwise. As they say you'd rather look back on your life and say you tried and failed. Again there's more to your own business than the financial success as well, I imagine there is a lot of fulfilment too.

Not the same but a couple of months ago I quit my job to do my cycling trip. Was very difficult, worried if I was being an idiot etc. So glad I did it now, although maybe my opinion will change when I finish depending how easily I get back into work!
 
You must log in or register to reply here.
Back
Top Bottom