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Anyone care to share their story? Part 2.

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  • Closed Accounts Posts: 367 ✭✭I Drink It Up!


    I have spent the last 3 weeks putting together what is now a 20 page business plan explaining the rationale behind the idea and why I believe it will work. It's quite pithy....I try to demonstrate just how the business will work and why/how the public gets shafted on the products they are currently paying for. I hope to go before the pertinent authorities with it inside the next 2-3 weeks.


  • Closed Accounts Posts: 44 Shambo


    Well, having worked in Sales and Operations in International Logistics for 15 years, I could see the storm clouds gathering from July 2008, imports in my field of expertise fell off a cliff and they never really recovered, to such an extent that I was laid off for the first time in my career in September 2009. Even though I was expecting it, it was still a culture shock to be standing in the dole queue later that month.
    Anyway, I took my time to think what I wanted to do and one thing was clear, I had had enough of working for other people.
    Eventually, after much soul searching, I decided to start my own company, which reduces the amount of money companies spend on freight, usually by sourcing rates direct from wholesalers instead of paying a premium to a middleman.
    I also came up with the idea of offering an outsourced shipping management departmemnt to smaller companies, the logic here being that for a monthly fee we organise all the shipments and it frees the owner manager to get out and sell more goods instead of getting caught up negotiating shipping rates and tracking shipments.
    So far so good, the average reduction I bring to the table for my clients is 16.77% to be precise!
    I am quite confident that the company will succeed.
    One thing I must underline is the Back to Work short term Enterprise Scheme I enrolled on with the Social Welfare. I get the dole as normal, but it is deposited direct in to my account and I do not have to sign on.


  • Registered Users Posts: 51 ✭✭Zenga


    Great thread all,

    Im just going 25, ive worked in finance for the last 6 - 7 years, for construction, pharmaceutical multinationals etc. Ive been told that the chances are im getting let go this year.

    I immediatly thought about starting my own business, its something ive wanted to do for the last number of years just never got the right idea i was confident enough would work. less than 2 months ago myself and my brother started our own company providing all types of sports equipment to GAA, Rugby & Soccer clubs in Ireland. I was amazed at the money voluntary organisations spend on some equipment, and being a sports enthuisist myself i was more than happy to talk "shop" with potential customers. To date we have a turnover of just under 8k, which should see us doing close to 50k this year. This is with both of us working at it part time which is really encouraging!

    So when I get the date of my redundancy i will be looking at it with excitement rather than despair, We have only hit a tiny bit of the market and all our current customers are delighted with our service. I already have idea's for expansion, the problem at the moment is the capital and the time to make them a success.


  • Registered Users Posts: 7 bfh


    Hi all - very interesting thread here with very good storys.
    My story is I am just gone 24 and since the age of 18 iv been keen to either start up on my own or go into partnership with somebody. I have a construction backround and initially was just goin to try and get a cheap site and start building houses but oviously this simple plan isnt just right at the moment so now I have turned my attention to trying to set up/invest in other businesses such as newsagents/pubs or maybe a good franchise - Iv looked at plenty (mostly in prime locations with big turnover) but i found the key money demands were to expensive for my taste. Iv around 70k euros saved to get into business and im waiting to find something really good - its gotta be a good business that generates cash in year 1 for me. With all ye hardcore entrepreneurs on this it is good place to get in contact with likeminded people. All yous with the ideas who would welcome a partner with 70k to invest simply drop me a PM. Im interested in any business to do with construction (my industry at the moment), retailing (any type of shop), pub trade (lease or freehold) or any type of manufacturing or distribution business. This may seem like a simple approach but hey thats the way I like to do things!!


  • Closed Accounts Posts: 228 ✭✭pawnacide


    There I was, newly married with a middle of the road job with a salary to match. Decided on a total career change and became an auctioneer .. the year was 2006 .. How's that for timing .. I now dream of the dizzy heights of the middle of the road.


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  • Registered Users Posts: 968 ✭✭✭Chet Zar


    pawnacide wrote: »
    There I was, newly married with a middle of the road job with a salary to match. Decided on a total career change and became an auctioneer .. the year was 2006 .. How's that for timing .. I now dream of the dizzy heights of the middle of the road.

    Must have been good while it lasted though ay?!

    Swings and roundabouts and all that... :)


  • Registered Users Posts: 975 ✭✭✭newman10


    Mid 40s Retailer.

    Started at 25 with one shop and went to three. Worked 60 - 70 hours a week every week now one and it may just about hang in until Sep 1

    Serious decisions to make this weekend and will have nothing to show for a lifetime. :(:(

    Have been told @ 45 that I am not "dynamic" enough wtf:mad::mad:

    Where to from now nobody knows but a word of advise for anyone reading this thread think very carefully before you go into retail


  • Registered Users Posts: 975 ✭✭✭newman10


    will.i.am wrote: »
    Hi all - very interesting thread here with very good storys.
    My story is I am just gone 24 and since the age of 18 iv been keen to either start up on my own or go into partnership with somebody. I have a construction backround and initially was just goin to try and get a cheap site and start building houses but oviously this simple plan isnt just right at the moment so now I have turned my attention to trying to set up/invest in other businesses such as newsagents/pubs or maybe a good franchise - Iv looked at plenty (mostly in prime locations with big turnover) but i found the key money demands were to expensive for my taste. Iv around 70k euros saved to get into business and im waiting to find something really good - its gotta be a good business that generates cash in year 1 for me. With all ye hardcore entrepreneurs on this it is good place to get in contact with likeminded people. All yous with the ideas who would welcome a partner with 70k to invest simply drop me a PM. Im interested in any business to do with construction (my industry at the moment), retailing (any type of shop), pub trade (lease or freehold) or any type of manufacturing or distribution business. This may seem like a simple approach but hey thats the way I like to do things!!

    Are you for real William


  • Closed Accounts Posts: 36 lube5150


    I started a sign and graphics co 5yrs ago,was i mad?,i hadent a clue about the business,i came from a motor trade back ground,but lost most of my savings from an insurance claim,land lord screw me over,i did some homework and the signs seemed to be a good idea,,,i spent days and nights learning signlab,photoshop,and in october 05 i made and fitted my first graphic,,,,over the next year i was swamped with work,i wouild rather work on my own,and i managed to do so,with out burning myself out,,,then i spotted an market that other sign makers had missed,,,TRUCKERS,,,their the only people that adorn their vehicles with stickers,naked ladys,window banners,so i started making them,,,and over nite,,more sucess,,then i spotted LED boards inside a few trucks,and asked some friend of mine(who are truckers)where do you get those led boards,,,they had to order them from england or germany,,,so i got the head down,and learnt all their is to know about Led lighting,(theres a lot more that a little red bulb)and over the last 2 years i have made and sold at least 200,,,,im just a regular guy,,allways on the look out for the next big idea,,,my sign business has suffered over the last year or so,,,but im a fighter,,and firmly belive that things will get better,,,,,,if you've got an idea,,go for it,,,hard work never killed anyone,,,,some day we'll all reap the rewards,,,,,,,


  • Closed Accounts Posts: 8,305 ✭✭✭DOC09UNAM


    I'm 19 years old and want to start a business of my own, I have an idea, but haven't a clue where to go for investment, advice or anything at all really, It's the kind of idea where if i mentioned it to someone with the money, they'd end up doing it themselves, and them im out of luck, any way to prevent this?


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  • Registered Users Posts: 968 ✭✭✭Chet Zar


    Don’t worry too much about your idea being stolen – if you think about it there is really very little new under the sun – so chances are those with money are probably doing it already anyway :) It also doesn’t mean that you can’t do it as well.

    It’s really execution that counts, not the initial idea.

    In terms of what you can do – have you spoken to family and friends about the idea? They won’t be the most impartial but they can be a good initial sounding board. If you then feel that the idea is a runner then you can always approach your local Enterprise Board to get professional advice.


  • Closed Accounts Posts: 8,305 ✭✭✭DOC09UNAM


    Cheers, Will definitely look for more advice on this, must look into an Enterprise Board and try arrange a meeting or something, Cheers mate.


  • Closed Accounts Posts: 8,305 ✭✭✭DOC09UNAM


    DOC09UNAM wrote: »
    Cheers, Will definitely look for more advice on this, must look into an Enterprise Board and try arrange a meeting or something, Cheers mate.

    Actually, I just sent contacted the local enterprising board, and will post back here to see how it goes, Cheers mate.


  • Registered Users Posts: 156 ✭✭Deadwards.com


    Good post everyone and keep working hard to achieve your goals.

    My story:

    I had always loved the idea of starting my own business (my father ran his own co. and I had helped him out as a teenager but always wanted to do it for myself).

    I got together with a friend who wanted to do the same thing and we worked on an idea. As the idea was for an online service, we approached an friend of my brother in law who had some experience in the internet startup world. He liked our idea and ended up becoming a partner in the business. We all had 'day jobs' so we worked through the nights and weekends (really any spare time we had) and in Sept 2009 we launched the site at a big Tech startup event in the states.

    We were well received but unfortunately the original idea hasn't worked out. My 2 partners have moved on to new pastures but I am still working on the site part time and have changed the offering slightly to suit businesses and colleges (hopefully). I have learnt a huge amount already and no matter what, it has been an excellent experience. The business or idea as it hasn't made money yet, has thought me that you should always follow your dream even if ultimately it doesn't work because at least unlike so many out there you have had the courage to give something a try.

    Keep trying folks as it people like you that will succeed in something by at least giving it a go!

    Cheers
    Paul


  • Registered Users Posts: 18 Phil Gaynor


    Hi Guys

    I started my own business in 2008 smack bang in the middle of the recession - had to close it in 2010 - Felt rough - first major project for me after working as a director for years - One of the reason it failed was the lack of capital funny enough but the lack of clients.

    I am now the MD of Enhance.ie a web design company and a share holder - joined only this month.. Sept'10 - and things are going great - I am a member of a few business groups but none seem to do the biz fast enough - all very low key - with this in mind I've set up a group called Interconnected Ireland - facebook page is
    http://www.facebook.com/home.php?#!/profile.php?id=100001624064735

    This is non-profitable and just a way of sme's and other businesses getting together in a more direct manner to see if we can collectively drum up clients. Any feedbacks is welcomed and check out the link and send a friend request - open to all size businesses in Ireland - everyone knows at least 10 businesses - forward on the info and let's get it moving. Cheers Phil.


  • Registered Users Posts: 8,416 ✭✭✭Gloomtastic!


    I suppose my first experience of running my own business was as a teenager selling rugby international tickets. You could buy schoolboy tickets off the 1st years for 50p and sell them for up to IR£35.00. Trawling the pubs of Donnybrook it was like taking candy of a baby. :D

    Move forward to the UK and about 15 years, myself and two colleagues decided that, after ten years of making our bosses multi-millionaires, we should do it for ourselves, how hard could it be? So we launched our first magazine.......

    Seven years later I emerged battered and bruised but afraid of nothing and no-one. Fighting for every penny against all the competition was one thing, the internal battles with one of my fellow directors was the real killer. As a team we were invincible but he 'would cross the street to start a fight' and it was just boring in the end. :(

    Started up my latest business in February 2008, a month before the recession hit. Dealing with the general public as well as some of the biggest businesses in the world. Business is growing at about 30% per annum, my oldest invoice is 10 days old and I've had zero bad debt since I started. All suppliers get paid on invoice. So all those years fighting taught me a couple of things. :rolleyes:

    The most important things I've learnt:

    1. Do it, Review it, Change it
    2. If you don't ask, you don't get!


  • Closed Accounts Posts: 1 Focusme


    We are a brand new magazine, Focusme that has just published its first issue this month. We are dedicated to Small Business in the Mid-West.

    We began in February of this year. I was on the phone to some friends here in Ireland and through the conversation we discussed how there was nothing tangible out there for SMEs in terms of media presence.

    So after two months of research and talking I was on the plane back to Ireland to start this new venture.

    We got our business plan together and went into AIB Bank. The SME loan Manager loved it! Thought it was a really great idea. We got our loan approval inside three days and we went on our way. From the beginning we kept a really tight reign on our finances for everything, constantly looking for the best deals from office rental to equipment.

    Its been tough and at times frustrating but people are now understanding what we are about. Helping Small Business through good articles and content which is progressive and offers ideas/solutions.

    We try to focus on the positive in order to give people hope and understanding that Small business is the future of this country.

    We like a lot of people in this thread, started with nothing. Now we are beginning to find our feet and progress. Entrepreneurs and Small Business is the here and now, not the future. Now is our time and now is when we begin to build a bigger better country.

    Kehlan Kirwan,
    Editor,
    Focusme Magazine
    www.focusme.ie


  • Registered Users Posts: 8,416 ✭✭✭Gloomtastic!


    Focusme wrote: »
    We are a brand new magazine, Focusme that has just published its first issue this month. We are dedicated to Small Business in the Mid-West.

    We began in February of this year. I was on the phone to some friends here in Ireland and through the conversation we discussed how there was nothing tangible out there for SMEs in terms of media presence.

    So after two months of research and talking I was on the plane back to Ireland to start this new venture.

    We got our business plan together and went into AIB Bank. The SME loan Manager loved it! Thought it was a really great idea. We got our loan approval inside three days and we went on our way. From the beginning we kept a really tight reign on our finances for everything, constantly looking for the best deals from office rental to equipment.

    Its been tough and at times frustrating but people are now understanding what we are about. Helping Small Business through good articles and content which is progressive and offers ideas/solutions.

    We try to focus on the positive in order to give people hope and understanding that Small business is the future of this country.

    We like a lot of people in this thread, started with nothing. Now we are beginning to find our feet and progress. Entrepreneurs and Small Business is the here and now, not the future. Now is our time and now is when we begin to build a bigger better country.

    Kehlan Kirwan,
    Editor,
    Focusme Magazine
    www.focusme.ie

    Good luck to you Kehlan. After spending twenty-odd years in publishing I know exactly what you're going through - the first seven years are the hardest, after that it's a doddle! :rolleyes:

    If you're ever stuck for a solution get in touch, you never know until you ask. ;)


  • Registered Users Posts: 91 ✭✭EPjnr


    Hi,
    I’m 22, I was always interested in business for as long as I can remember, buying/selling/trading in school. Worked crazy hours as a teenager to try save up for my first car, cost me 5k in 2005 at the age of 17 and wrote it off 4weeks later…. Everything from my confirmation money went into that car. I was torn apart, but with a huge interest in cars and strong motivation to get back on my feet (literally), I studied car prices upside down and inside out and seeing the huge price difference between Ireland and England and decided to start importing the right cars. Made a nice few thousand and helped me through my first few years of college. But got out on time, luckily J Then I hit my first REAL money maker in 2008 at the age of 20. My part time job while in college was as a barman, this pub was going in the wrong direction and I was soon to be out of a job so I was getting worried, then I decided to approach the owner and tell him I was interested in running the place for a % of profits (a large % as there were none at the time) the pub turned around to be one of the best pubs in the town in no time, and provided me with a huge income in the 1st year and a steady income since. I then set up an events management company with some collage friends, the company has turned over a nice profit in a few months and shows quite a bit of potential and I have since bought out anyone else involved and really hope it goes in the right direction. Now I’ve just graduated with a business degree and am refusing to go into a job working under someone else, I don’t quite enjoy the events management work so I’m going to hire in someone to run that and move on to my next venture, have a few ideas but none of them seem like a huge money-maker, all steady safe ideas, which I have 2 going at the moment which is enough. I have access to capital if really need be, now im just lacking something new, I continue to have ideas in the same area and am struggling to think outside the box. I’m 22, good experience, good contacts in business access to capital, whats my next step? I don’t know what direction to go! The pub takes up 2 r 3 days of my week, the events management barely takes up 1, I’ve time to take on a job but I refuse, I spend days every week researching and reading up and haven’t got anywhere in the last 3months but will give it a year or two before I give in and take up a job.
    I’ve tasted success, I’ve being at points where in some weeks it would have being no big deal to earn over 100euro per hour put in in profits. Now I’m working that bit harder for quite a bit less. Hard work does not turn me off, risk does not turn me off, and failure is tough to deal with but also won’t turn me away. At 22, I’ve had loads of jobs/summer jobs etc and also worked in insurance but I’ve also worked for myself on two or three ventures. My advice would be to stay focused, know what you want, set goals and use these as motivation and then get on your way to achieving this. I wouldn’t listen to anyone that says working for yourself is always the best thing (it can be both the best and worst thing). I’ve falling out with friends, lost money, missed out in quite a bit of my social life but lucky for me these experiences have being quite minimum and what I’ve experienced in success allows me say everyday (even on the very grim days) that’s its all being worth it, that taste of champagne celebrating your first success (or any success for that matter) is one of the best tastes and feelings in the world for me. But I’m the the kinda guy who lives for that, things could have gone a lot worse and I would still have said that its worth it, that’s what makes me know I’m really suited to the world of entrepreneurship and risk taking, Not everybody is, you need to be sure that you can handle the low points, because I can assure you they will, there will be Fridays when you’ll look at the clock and say if only I was in a 9-5 job I’d be heading off with the lads golfing for the weekend instead of starting into a weekend of work and there is a chance it can all be for nothing, these thoughts may haut you at times. Be Prepared, be brave, be strong!! (and im only 22, talk to someone of 50 r 60 who has seen it all)


  • Registered Users Posts: 20,835 ✭✭✭✭cormie


    One thing I'll say EPjnr is slow down! Seems like you might be taking far too much on. Seems you have something solid there to work with but you're getting bored and want to try out new things. If they are as solid as I gather from your post, just stick with them for a while and build up enough security for you to be able to venture into other areas without losing it all.

    I've ideas in my head too, but for my own sake, I'm not going to touch them yet until I get VanTasks to a stage that I'm ready to try these other ventures. When that will be, I haven't a clue. Will it be the right time for my ideas to prosper when I'm ready, I don't know, but for sanities sake, I'm not jumping in right now. I've bought domain names and that kind of thing for the ideas but that's about as far as I've gone.

    Just be careful and make sure you have time for socialising and for keeping healthy both physically and mindfully.


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  • Registered Users Posts: 230 ✭✭oterra


    My experience is a bit indifferent. I started back in the early 90's as an apprentice in graphic reproduction. Worked my way up to production manager with a lot of hard graft. That company eventually ran its course and closed. Myself and some former colleagues started again in digital printing and made a great success of it. It wasn't plain sailing by any means, just hard work, many sales calls and long hours in production.
    Then all hell broke loose, 2 other directors wanted a larger slice of the cake, they were family and as I was outside their "circle of trust" I reluctantly stepped down as a director last year. It was a stressful time for me. I made the decision to stay there as an employee and set up my own online canvas printing company on a part time basis.
    I am hoping to reduce hours in my day job as the online business kicks in. The website went live 2 weeks ago and I have got 4 orders already from it which may seem like very few but I am looking at it from the basis that if I can get 4 orders online, I can get a 1000 orders online. My first order came from boards.ie which I was delighted about.
    My advice to anyone looking to set up on their own is "go for it", cos if you don't you'll always have regrets. The knocks will come at you thick and thin but they should galvanize you and teach you some great lessons.
    I cant wait to turn around to my greedy ex business partners someday and throw my accounts at them and thank them dearly for been so greedy. If all the crap didn't happen with them I may not have realised that I could have done it on my own. I would love feedback on this to see if anyone has ever been in a similar postion. To infinity and beyond as a Famous space cadet once said!!


  • Banned (with Prison Access) Posts: 9 trudyaffair


    Hi
    I decided to go out on my own when I realised that I hated housework, golf, coffee mornings, having no money,3 kids got older etc
    I love what I do now, do not make as much money as I thought I would but have no over heads. I started off with lingerie only then got e-mails and phone calls from people do you do shoes? wigs? shapewear? Fancy dress etc.
    I remembered having spent years in Roches Stores that if a customer requested an item more than 3 times and if you did not have it upon the fourth request you were an idiot. So I tried to explore the web and what manufacturers were out there.
    This was where the fun started I decided only to buy direct from the manufacturers as this was the only way to compete regarding price structures. Most websites in the UK would have to buy through wholesalers thus putting up the retail price to the consumer.
    So for months I sat in the kitchen e-mailing huge companies pretending I was Mrs Big and that they would be very privilaged to host their merchandise on my Mrs Big site. Lots of them returned e-mails saying oh no Mr UK has the distribution rights for UK and Ireland ? This really got on my goat and I would get so political and annoyed with them eventually I suppose they just got sick of my e-mails and would eventually give me a log in and user account to their sites and give me distribution rights for Ireland. Excellent - happy days.
    The only problem with all of this I had to continue as Mrs Big and with nearly 34 manufactures on board my flag ship I did find it hard if a customer bought one bra and I could not buy one bra from a manufacturer after making out I was Mrs Big ?? So I had to give in Big orders!!
    I have made absolutely no money as yet on this venture in fact I have used a lot of my own money etc..but it has been really exciting worthwhile and I enjoy the buzz when soneone buys from me and especially if they e-mail back saying that was great etc.
    I am going to keep at all of this not to be a milionaire but because I love working for myself and the whole buzz of online selling.
    Omg! Just realised how long this messege is I hope I did not bore you. But if you are starting out on your own and you believe in it and yourself keep at it.
    I am not advertising my site here just telling my story I do enough of on line advertising else where. That is another thought for people setting up online sites I did not realise you do not just put a site on Google and expect people to find it! I put aside about an hour a day just blogging everywhere just to try keep up there. Hard work and very repetitions.
    Trudy


  • Registered Users Posts: 8,416 ✭✭✭Gloomtastic!


    Great story Trudy, and nice site. I'd like to buy my wife your Wild West Sherrif outfit but I think she might shoot me! ;)


  • Banned (with Prison Access) Posts: 9 trudyaffair


    Hi Gloomtastic,
    Thank-you for that i did go on a bit but I am still at it, so there is hope for us all as Im an Òle one!!
    Sold five of those costumes to Australia and that is why there at the front wish I could move them as it`s not very Christmassy?
    Thanks
    Trudy


  • Registered Users Posts: 8,416 ✭✭✭Gloomtastic!


    Hi Guys,

    Some great stories here and super to see people who still have the get up and go to start a business and the balls to keep it going through the tough economic times.

    About a year ago I started a company called Text Republic, we are a mobile marketing agency and you can check out our website at <www.textrepublic.com> . If any of you are struggling with your marketing budget and you are looking for the best ROI out there we would love to hear from you. We can set you up in a matter of hours and get some sms campaigns or competitions kicked off for you and you wont find better value out there.

    Looking forward to hearing from you,
    Brian

    That's a nice sell there Brian, but where's the story? Tell us how you got to where you are now.....


  • Closed Accounts Posts: 30,731 ✭✭✭✭princess-lala


    Been following this thread for a while and never thought as myself as an "entrepreneur"

    Heres my story:

    Started hairdressing when I was 14 - hated it, but the money was ok! As the time went on I started to enjoy it, even though I wanted to be a psychologist.

    Went on to work for a bigger salon at 16 and when I finished school at 17 I was doing things a third year apprentice would do, I loved my job.

    Worked for various big salons, so many employers fecked me about! Having me doing work a qualified stylist would do but not paying me for it!

    Eventually I got a great qualification, one of the best training schools in the world, hated being told what to do! Hated someone having the power over me so I had to do what they said!

    The last place I worked, I ran the salon while the owner worked in another one, I opened her salon and all the clients knew me, not her! Loved working there, felt like my own boss and the money was great! Salon was awful though!!

    For 9 months I worked with mice :eek: She never tried to get rid of them, I worked in awful conditions with no working toilet and water going off alot! Something you always need in a hairdressers!

    So eventually I gave up! Told her I couldn't carry on anymore and gave her my notice!

    For a few weeks I did mobile hairdressing, which was going great but I hated going into peoples houses cause I'm quite shy!

    So fast forward a few months to September 2008 my dad showed me a local unit up for lease! He brought me to see the estate agent, we talked things over and next thing I'm signing a lease :eek:

    My parents gave me a loan, I fought with suppliers to get great prices on things and was finally able to stand up for myself! Got this new confidence I never had before.

    In November 2008 I opened my salon, I live in a small town with a bigger town a mile away, I'm the 8th salon in the area! Also one of the busiest because I had cheaper prices than everyone else.

    Ok things have gone a bit slow in recent months but that just spurs me on to succeed!

    I was once told I "wasn't good enough to be left alone, I needed guidance and support" - this was from a boss who I looked up to! I told him "I will have a salon by the time I'm 30" He then laughed!!

    I opened my salon at 23 and its 2 years going now and I'm making money, not a fortune but have money coming in!! I proved him wrong in saying I wasn't good enough!

    Wow sorry for the seriously long post! Kinda got carried away :)


  • Registered Users Posts: 389 ✭✭daigo75


    Very interesting thread indeed, thanks to all contributors. :)

    I'm also a "newborn" entreprenur, although I'm still in the "wannabe" phase. I've been working for way too many years in IT, several of which as a company owner, and I got burned badly. A lawsuit started by a competitor, combined with a sly business partner, costed me all my savings and two years of work without any revenue, hence I'm not the type of person who would rush head down into a new business idea.

    Issue is, I'm becoming more and more unemployable as my methods are not compatible with what the majority of companies expect, which means spending at least 40 hours a week in front of a monitor even when it's absolutely superfluous.

    I therefore started looking at business opportunities, and I got a few ideas that I hope to develop into something profitable. The main obstacle I'm facing at the moment is the need of "reconfiguring" my way of thinking, as I often tend to be too negative; past experiences have a big impact on future decisions, I need to strike a proper balance.

    On the side, I'm writing my own fantasy novel, which is proving to be more challenging (and more interesting) that I thought. It's a side project, perhaps I should make it the main one. Who knows... :)


  • Registered Users Posts: 14 fintanmac


    My first venture was more like following my dream. I had always wanted to be my own boss - never realised what was involved though. My first job was in a deli and that was what I wanted to run.

    Didn't pay enough attention to two things.

    1. Location - seems stupid now but location, location, location.
    2. The turnover of the business that I bought. Found that most of their turnover was for gas which has a high volume but VERY little profit.

    One piece of advice for any business person - each month do your bank reconciliation. Once you do that you will roughly know where you stand.

    Best of luck.

    Fintan


  • Registered Users Posts: 34 tommurphy73


    My company set up an office in Spain. My advice is to get a good consultant to help you in the country you are setting up in. There were some teething problems but these have been ironed out now. It is the simple things that can cause the most problems like holiday entitelment and other such things in the other country.


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  • Closed Accounts Posts: 5 Niallbf


    Thanks Tom... was wondering more about consulting companies located in Ireland advising Irish firms looking to go abroad ...doing a bit of academic research and was hoping to get a few leads


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