Starting on my own

[Flanners]

Hi everyone, I have been in this business since leaving college (around 11 years). I am contemplating starting my own company as I believe renewable energy will be a massive market (at some point) but my employer disagrees.

My only concern is paying the bills. I know I have the knowledge, experience and business acument and I think I am a nice guy, its just making that step.

I am not at all hard done by at work in terms of pay (40% tax) its just I feel I could do more for myself???

Its not really the economic climate that scares me. Just that I would be giving up a good job for potencially better reward?

Any comments???

Thanks

 

[justlead1]

Hi, Whilst employed, is the best time to put things together for your future project / aspirations . Designing logo, paper work, potential market, marketing methods, finance, van, fuel, insurance, premises, phones, website, qualifications, certification, part time assistant, approved installer, how much you wish to earn per year, the list seems endless. Once all in place /understood, add up the yearly spend and divide by how many hours per year you wish to work (don't forget a couple of weeks holiday and bank holiday) the answer you get will be that what you need to earn to break even. Then add on risk, profit margins and disappreciation and do the sum again. Eg. £32000 divided by say 1800 hours =£17.78 per hour.
Say £32000 + £13000 = £45000 divided by 1800 = £25 per hour.
Never ignore figures they do not lie. These are my fictitious figures. Have a go with yours. Good Luck

 

[heatserve]

Your successful employer, paying your higher-rate tax payer wage, disagrees with your ideas despite your business acument. Not withstanding the irrelevant fact that you're a nice guy, you should take a reality pill matey.

In the absence of public awareness, grants and subsidies for renewable energy, your chances of getting the average customer, who really just wants a boiler swap, to go with your thinking will be precisely zero.

Only the very rich can afford an environmental conscience and they are hardly likely to engage an unknown one man band, the rest just want rock bottom prices.

 

[Bernie2]

Its the markets that dictate prices not only the businesses.

Renewable energy may be good but unless somebody comes up with something really cheap and viable its perhaps going to be a minority thing for the individual I think.

Excepting of course where you have community action to supply local needs.

But then you would probably be talking about communities investing perhaps millions or thousands and you would need quite a reasonable sized company to handle the work.

The idea of renewables is good, but putting it into practise is a lot harder. What we need are inventors thinking things up. James Watt it is said built 500 different steam engine models based on variation's of Trevithick's design, before he came up with his.

It wasn't a case of learning it out of a book, just practising till he got what he wanted.

Basically we need more people in back yard sheds making things that work. Then we can turn them into industries.

However some educators think our education system is not like that any more and all students want to do is learn just enough about anything to pass the exams and no more.

In other words they seem to want the job's that go with the qualification but perhaps don't really know much about the subject.

Just seen a headline about BT turning down 25% of applicants because of educational failings.

As to renewables, it seems the Norwegians are developing the large scale UK market.

Unfortunately we need to go back to our Victorian age without the poverty. But to do that, we need innovators not entrepreneurs.

 

[mrlennie]

Unfortunatly it seems that poverty is what gets the mind working. Say I had no monays and wanted to heat my home i would rip out my gas boiler and open the chimney and use for fuel all my plumbing books. Just before I did that I would think...hold on, can I not plan this a tad better? Maybe I would come up with a way to make gas or some free heat style thingy ma bob? I don't know but it may come to that😀

 

[Puddle]

Most admit ,in this economic climate, would stay in my 40% tax job, maybe do your research now, do some home study and manufacturers courses and bide your time ,maybe in a three or four years time ,when government spending can get back into renewable and people can source low/available credit, also maybe some further advances that helps bring the cost down, however this will only really happen ,when more units are being sold and as said that needs government help and a stronger economy, sad really, as things in this area were just about to take off but now I fear, there is not a boat leaving that you will miss by delaying

When you are in a decently paid job and you see what you do for the financial reward, it is easy to think ,piece of cake ,I’ll go alone, however it is not just the ability of doing the work ,it is also the ability to get the work/contracts and keeping them, this can be a lot harder and require just as much skill, all be it, in a different area, and maybe you are doing your correct boss a dis-service, in not recognising his obvious skills in this area, you may have the business acument but you will need experience to put that to use in the real market and that market is very difficult at the moment for established businesses not to mention new start ups

You should be concerned about paying bills and have a realistic cash flow projection, however even in good times you should expect to make sacrifices in starting any venture, only difference is in the good times, you stand a better chance of making it and options to fall back on, in this climate ,that will not be the case, that job you are considering giving up, is going to be snapped up another

I would advise anyone to have a gone by themselves, if successful there is nothing better and would admit sometimes when you have a good position, it can make it harder, as you have more to lose and it can make it hard letting go, so respect there
However ,although some of us have had a few tries before getting established, that is not by chose
Time your move, when the economy is picking up and banks and others are investing to get in on national growth and forth coming boom, I would suggest we are a long way from that time at present

Just some thoughts and thanks
Took my mind off the England result :-((
imho

 

[oldplumber]

if your thinking of going alone at this point in time when the economy is still in crisis and your earning over £43k as an employee, you dont have the accumen to do so, why havent you done it years ago be happy where you are you wont like living on peanuts and not being able to pay your mortgage

 

[Dannypipe]

😱

if your thinking of going alone at this point in time when the economy is still in crisis and your earning over £43k as an employee, you dont have the accumen to do so, why havent you done it years ago be happy where you are you wont like living on peanuts and not being able to pay your mortgage

Agreed.

 

[turnpin]

ride out this financial storm and save as much as you can for as long as you can so when better times arrive you will be in a very strong position also use any spare time to research your plans exhaustively and gain qualifications that you will need good luck to you and remember the grass is rarely greener on the other side🙂regards turnpin

 

[Dannypipe]

Yep. If things don't pick up a bit, I'll consider getting a job, maybe with BG...dunno. It's a last resort as I've put everything into my business, and I've only got to get through a couple of lean months and I have a dead cert job starting in Sep...but when you've got bills to pay, 2 months is a long time! Still I do have work all this week, and haven't more than a day off with 'no work' since I started alone, years ago.

 

[Flanners]

Oldplumber, dannypipe. Why i didnt do it years ago is irrelevant. And as I said. 'its not the economy that im bothered about' I appreciate what I can only asume to be your own experience and take that on board. I can pay my mortgage and I do lead a comfortable life. Just wanted a challenge!

Just because others fail doesnt mean everyone will. I see the people who fail and work with the people that have succeeded.

HEATSERVE: I didnt say I would specialise in renewables, only offer them as many 'average customers' are begining to see the benefits and are willing to pay a little more. Based on company enquires, not the sun newspaper.

'Irrelevant fact of being a nice guy'......'people buy people' MATEY you can do the job for free but if people dont like you you dont stand a chance.
So I an understand why you would think people only want rock bottom prices as this is obviously the market you are in.

I have no experience of people wanting the cheapest. Only the best. Thats why 'my successful employer' pays me my wage.

And as for 'People wouldnt engage in an unknown one man band' They would after they have spoken to me!.....

People want a good job weather its done by one person or ten people. Its the finished job that counts.

 

[ferret]

I,d say to you good luck but go cautiousley , try advertising and doing any work you get in the evenings and weekends , saving any monies earned , to buy your own van outright , dont get credit buy everything outright untill you can afford to go it alone. think positive and you can achieve it, but not on tick.

 

[kirkgas]

Yep. If things don't pick up a bit, I'll consider getting a job, maybe with BG...dunno. It's a last resort as I've put everything into my business, and I've only got to get through a couple of lean months and I have a dead cert job starting in Sep...but when you've got bills to pay, 2 months is a long time! Still I do have work all this week, and haven't more than a day off with 'no work' since I started alone, years ago.

why dont you do a wee bit of contractor work for the dark side until things take off again, better than going books in and giving up your GSR completely, (i am only thinking this and not saying it out loud, but you would also open yourself up to a new customer base for when you were back out on your own full time, does the data protection act include scribbling down address' and lettering them later to see if you can poach work, you would need a catchy name for such a scheme, what about GWN or Manufacturers exteded warreny scheme or Benchmark, nah that would never lead to someone getting a list of someone elses hard fought and well earned customer database would it