CNC Paul
Established Member
I think this is an indication to the downturn in business..... Today I was offered advertising space in The Times Magazine with a 65% discount.
Paul
Paul
Is now a good time to go self employed
- Thread starter Richard S
- Start date
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the_g_ster
Established Member
Hello all.
I would actually like to throw in a different viewpoint, and one that should be carefully considered.
At a time like this you need to look at what group will still be spending and why, and also the product too. There are people who will still spend, kitchens will still need to be built, and people will still buy.
This all means a HUGE amount of thought needs to go into what you are producing and who for. There are plenty of high net wealth individuals in the UK now that there is still some opportunity with. Okay average people like us wont be doing equity release to slap on a conservatory, buy a car and take the kids to Florida, but there is still demand there, you just need to satisfy it.
To that end I agree with escudo, maybe it is a bad time if you are just going to turn out crap, but a good idea will be rewarded. Maybe a great concept would make something.
G
I would actually like to throw in a different viewpoint, and one that should be carefully considered.
At a time like this you need to look at what group will still be spending and why, and also the product too. There are people who will still spend, kitchens will still need to be built, and people will still buy.
This all means a HUGE amount of thought needs to go into what you are producing and who for. There are plenty of high net wealth individuals in the UK now that there is still some opportunity with. Okay average people like us wont be doing equity release to slap on a conservatory, buy a car and take the kids to Florida, but there is still demand there, you just need to satisfy it.
To that end I agree with escudo, maybe it is a bad time if you are just going to turn out crap, but a good idea will be rewarded. Maybe a great concept would make something.
G
edsof754
Member
being good at the practical side of things is no guarantee of success on your own. I have seen clients who are brilliant at what they do when working for someone else, but running a business is completely different.
Especially if you are competing against some one doing the same thing on a hobby basis, without the worries of tac, nat. ins, vat etc etc
Especially if you are competing against some one doing the same thing on a hobby basis, without the worries of tac, nat. ins, vat etc etc
big soft moose
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very true - i used to be a contractor , and being a natural with a chainsaw didnt help bring in the buisness - you really need someone to take care of the marketting, advertising, accounts inc chasing late payments, tax returns etc.
a few lucky souls have swimbo doing all that for them , the rest have to either do it themselves which takes away shop time, or join a cooperative, or pay someone - the latter two taking up income
a few lucky souls have swimbo doing all that for them , the rest have to either do it themselves which takes away shop time, or join a cooperative, or pay someone - the latter two taking up income
greybeard
Established Member
FWIW..........my take on this perennial is that there is no such thing as a good time, a bad time, a right time or a wrong time.
All to do with living in a democracy (that's a very small non-pol 'd'), with all the benefits/pressures of a 'perfect competition' market (unless you have of course invented the world's best mousetrap...!).......by which I mean simply that you will have competition, whatever the time/place/etc.
It's better describing it as 'your time'. And that's the time when it is 'right' for you, because it feels/smells/checks/tastes right to you.
Your list of 'qualifiers' will be unique to you, so only you can tell whether this is your time.
I'd suggest that you consider the following four points.
If you're checking to see what others think, and are prepared to take their observations into your reasoning process, then this is not your time.
If you're checking to see whether anyone can come up with any other factors to take into account, then this is not your time.
If you're checking to get encouragement or discouragement, then this is not your time.
If you're checking because you always check all the options/possibilities/etc that you can think of, then this is probably not a viable option for you, ever.
I hope you make the best choice for you.
PS Whilst the boat-fitout experience etc was no doubt useful experience, you should bear in mind the 'one swallow does not a summer make' thing.
All to do with living in a democracy (that's a very small non-pol 'd'), with all the benefits/pressures of a 'perfect competition' market (unless you have of course invented the world's best mousetrap...!).......by which I mean simply that you will have competition, whatever the time/place/etc.
It's better describing it as 'your time'. And that's the time when it is 'right' for you, because it feels/smells/checks/tastes right to you.
Your list of 'qualifiers' will be unique to you, so only you can tell whether this is your time.
I'd suggest that you consider the following four points.
If you're checking to see what others think, and are prepared to take their observations into your reasoning process, then this is not your time.
If you're checking to see whether anyone can come up with any other factors to take into account, then this is not your time.
If you're checking to get encouragement or discouragement, then this is not your time.
If you're checking because you always check all the options/possibilities/etc that you can think of, then this is probably not a viable option for you, ever.
I hope you make the best choice for you.
PS Whilst the boat-fitout experience etc was no doubt useful experience, you should bear in mind the 'one swallow does not a summer make' thing.
Richard
Do you have to burn all bridges or could you get back into the type of work that you are doing without too much trouble. No matter how much advice you take from others it is you that has to make the final decision. There will always be some type of work about for woodworkers you just need to be adaptable and able to diversify until you find your niche. I am always being asked to do jobs on the side, which I decline as I value my free time more than the extra money that I could make, admittedly some people ask for jobs to be done on the side as they expect to get them done cheaper.
Dennis
Do you have to burn all bridges or could you get back into the type of work that you are doing without too much trouble. No matter how much advice you take from others it is you that has to make the final decision. There will always be some type of work about for woodworkers you just need to be adaptable and able to diversify until you find your niche. I am always being asked to do jobs on the side, which I decline as I value my free time more than the extra money that I could make, admittedly some people ask for jobs to be done on the side as they expect to get them done cheaper.
Dennis
