Would you like to start your own business?

posted 2 years ago in Career
Post # 2
Member
244 posts
Helper bee
  • Wedding: September 2020

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adelsten :  Same here! Great idea for a thread 🙂 looking forward to hearing peoples’ experiences.

Post # 3
Member
1513 posts
Bumble bee

Yes I would love to! I have a side hustle – hobby that earns me cash and I’d love to turn it into a business one day. I’m just not sure it’s worth all the hassle, and it’s great having cash pocket money.

Post # 4
Member
244 posts
Helper bee
  • Wedding: September 2020

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fran01 :  Out of curiosity what is your hobby?

Post # 5
Member
3901 posts
Honey bee

SO and I are beginning to invest in rental property.  We bought one place but it is a fail because we fell in love with it and spend every weekend visiting.  And we are renovating it.

But now we are planning on buying a second property in the area to fix up and rent.  So hopefully that won’t be a fail!  Ha.

Post # 6
Member
403 posts
Helper bee

 

edited because tmi. 

 

pm me if you have any specific questions! I have a lot of experience with starting & pushing a successful business 🙂 

Post # 7
Member
1293 posts
Bumble bee
  • Wedding: December 2019

I’m a self-employed designer, and I’m still in the ‘this is really hard but i’m making enough money to at least live on’ stage. I’ve only seriously been doing it for a year and some change, and so far the advice I can share is: take every part of your business seriously, always develop a better process, get out of the house and meet as many people as you can, and for the love of Christ keep up with your expense receipts…

Post # 8
Member
300 posts
Helper bee
  • Wedding: London

So i had a business that supplimented my full time job, but both were the same industry, and then i left full time work in that industry and got a seperate unrelated full time job, and carried on the business on the side. 

Probably a bit different ebcuase it was a very time consuiming and physical job, but i lasted 6 months doing the day job and the side hussle before i just got totally worn down and gave up. All in i had my business in some capacity for about 2 years. 

I do think ill go back to it when the timing is right, but its the absolute hardeast thing i have ever done, and i found once expenses and taxes were done i hadnt actually earned as much as i had expected. I know thats my own pricing issue, but its just something that i found experience brought me, you learn whats realistic and what isnt. 

Id say go for it, but remember you never get an off day, you never get an evening where you arent pushing it or thinknig about it or just working on SOMETHING haha. 

Post # 9
Member
324 posts
Helper bee

I never really planned on it, but I’ve been co-running a design-related business for just under two years. 

It is rewarding but also really difficult. My tip would be that an accountant right from day one is totally worth the money. Also, have a proper business plan in place. 

Post # 10
Member
1287 posts
Bumble bee
  • Wedding: June 2019 - Turkey

Not really, I’m a teacher and I don’t wanna run a school 😀 I was self employed for a while and tutored from home, it was nice but even though waking up in the morning and running to the bus and going to work squeezed with lots of people is difficult I like a little mess in my life. 

Post # 11
Member
1830 posts
Buzzing bee
  • Wedding: December 2017

My husband is currently launching a cake business. We’ll see how it goes. I take care of most of his admin. 

Post # 12
Member
40 posts
Newbee
  • Wedding: September 2018

In my opinion it’s possible for many people in fact but you really need to want to make this. And be ready for beings hardworking and patient, especially during the first years of your startup, they’re the most important ones and it’s known that it tooks time for any company to become really successful.
In general the most important things for developing any successful business are:
– knowing yourself, understanding your goals and having a really great motivation as I mentioned above
– choosing the ‘right’ one for you (be original and find your sphere, also always analyze general competition in it before your start)
– having the knowledge of main business developing basics and many other tools, especially in case of general strategies, management and advertising
– making a good business plan (it’s one of the most important things in the start)
– creating a professional work team with well-developed management, using various tech innovations for it (like for example inventory management software)
– well-made advertising (it’s one of the most important tools too, you need to know how to find your target audience https://promorepublic.com/en/blog/10-ways-find-audience-social-media/ and the most effective marketing strategies in general (like SEO, SMM, content marketing etc.)
– building a network of your clients/customers and business partners

Post # 13
Member
4216 posts
Honey bee
  • Wedding: April 2016 - Manhattan, NY

My husband has an established entertainment company. He started DJing very young and built up his business, moving from installing sound systems and DJing in clubs to doing sound and hosting weddings and large events (fashion and award shows etc.). I have a knack for event planning (it’s a part of my job) and have thought of working with him to add that as an additional service, or Day of Coordinator for weddings. I’m also toying with the idea of doing some consulting in my field. But I’m starting a new job in June so that idea is on hold as I adjust to the new role. Ideally, I want to work for myself someday. My big dream (mostly just a fantasy but who knows) is to buy some land and have a small farm and winery. I’d have a petting zoo on site and grow apples and grapes for ciders and wines. Back to reality for now, though! 

Post # 14
Member
4845 posts
Honey bee
  • Wedding: August 2013

Just be careful you don’t get snared into a multi level marketing contract in your quest to be a sbo. 

Post # 15
Member
702 posts
Busy bee
  • Wedding: August 2012 - Iowa

I’ve considered starting a photography business on the side, but honestly the accounting and taxes part are super intimidating. Right now I just take photos for friends/family and that’s enough. If I wanted to go Pro, the start-up costs (high-end camera to replace my canon rebel, lenses, new computer and editing programs) would easily eat up my 1st years profit, considering I’d only do it on the side.

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