1st Wednesday Club
Discussion
I've not perked up as I'd hoped, I'm off to feel sorry for myself!Just gave the wife the run donw on the night on the way in to work this morning. Now I've got her going on my idea too!
Aim: Research and business plan completed by next meeting.
Question: It is very busy here in my current role. What could I say to my current employer to possibly allow me to go part time? It would be ideal if i could but I can't see that they'd want me to.
Thanks all, it was a good night and such a Diverse range of people. My mind was running so fast i could hardly get to sleep last night!
Aim: Research and business plan completed by next meeting.
Question: It is very busy here in my current role. What could I say to my current employer to possibly allow me to go part time? It would be ideal if i could but I can't see that they'd want me to.
Thanks all, it was a good night and such a Diverse range of people. My mind was running so fast i could hardly get to sleep last night!
IMHO, you need to do as Ted suggested. Look at what you can afford to do if the money aspect of things concerns you.
I know very little about marketing but would guess that if you're good at what you do getting another job wouldn't be too hard. You mentioned that you've been in the business for 20 years which would suggest that you should have a good network of contacts in case things go wrong.
Personally, I'd wait until you have your market research back before taking on the venture. You've got that far so why get jumpy when you don't know what your research is going to indicate about it? If it looks encouraging then consider your options.
Regarding going part time. It's an option, but only you will know how your boss will take it. His main asking point will be 'why' are you going part time? If you're going to be competing against your business it won't look good if you're still working there. Lie to him? It's an option but a dangerous one if he finds out what you're doing and if your venture fails. Bad publicity runs fast and your hard work over the last 20 years at getting a good reputation could be ruined. Your pitch to him needs to be very carefully considered.
I know very little about marketing but would guess that if you're good at what you do getting another job wouldn't be too hard. You mentioned that you've been in the business for 20 years which would suggest that you should have a good network of contacts in case things go wrong.
Personally, I'd wait until you have your market research back before taking on the venture. You've got that far so why get jumpy when you don't know what your research is going to indicate about it? If it looks encouraging then consider your options.
Regarding going part time. It's an option, but only you will know how your boss will take it. His main asking point will be 'why' are you going part time? If you're going to be competing against your business it won't look good if you're still working there. Lie to him? It's an option but a dangerous one if he finds out what you're doing and if your venture fails. Bad publicity runs fast and your hard work over the last 20 years at getting a good reputation could be ruined. Your pitch to him needs to be very carefully considered.
I know part time was one of the things I suggested, but I would recommend going full time on your own if you can. It will very quickly take up all your time so it is the better option if it's viable. It might not even be practical in your line if you're trying to open up dialogues with people and you're not available half the week.
Hi SD, I'm not planning to jump before the Market Research. I want to get as much as possible in place before jumping and I think that's entirely possible. I just need to work through the details and plan it on paper.
Hi Ted, I suspect it won't work for me but it was worth considering. Big numbers of seminar attendees and mutliple marketing activities on going within my current business that I barely have time to touch all mean I need to work more rather than less. I'd obviously leave on good terms but I doubt I'd want to ever come back. I'd be back at the point I am now after a short amount of time.
We were talking about how to provide a marketing assessment without the risk of the company taking it and 'DIYing'. Our (wifey and me) thought that I could do a free marketing assessment for a day and then come back a few days later to discuss the way forward. The less that is written (preferably nothing), the less they could take. We thought we'd major on the challenges faced in achieving each activity but not leave the company owner with any form of plan. At the meeting I could also suggest/promote a suitable candidate and highlight how their achievements could fit the businesses requirements.
Next question, how do I work out what to charge the client and what my margin is?
Hi Ted, I suspect it won't work for me but it was worth considering. Big numbers of seminar attendees and mutliple marketing activities on going within my current business that I barely have time to touch all mean I need to work more rather than less. I'd obviously leave on good terms but I doubt I'd want to ever come back. I'd be back at the point I am now after a short amount of time.
We were talking about how to provide a marketing assessment without the risk of the company taking it and 'DIYing'. Our (wifey and me) thought that I could do a free marketing assessment for a day and then come back a few days later to discuss the way forward. The less that is written (preferably nothing), the less they could take. We thought we'd major on the challenges faced in achieving each activity but not leave the company owner with any form of plan. At the meeting I could also suggest/promote a suitable candidate and highlight how their achievements could fit the businesses requirements.
Next question, how do I work out what to charge the client and what my margin is?
Must apologise btw as I gave out incorrect information.
The process is essentially...
Black stuff comes out of the ground
Black stuff is refined into fuel of a specific type
Fuel goes to a seller
Seller contacts me
I find a buyer
I'd said that the fuel is ordered pre drilling which is incorrect. Once again, sorry for that.
Frimley, (sorry I'm terrible with names) regarding costings, I'd suggest something along the lines of:
1) What do you want to earn in the immediate future and long term once your idea goes live?
2) What will your consultants charge for their time?
3) What are your operating costs?
4) What do you think the market will pay for your service?
5) How many customers will be needed to cover 2, 3 & 4?
6) How many customers will be needed to cover 1, 2, 3 & 4?
From there you should be able to work out a ratio of what you can charge vs outgoings vs your profit.
The process is essentially...
Black stuff comes out of the ground
Black stuff is refined into fuel of a specific type
Fuel goes to a seller
Seller contacts me
I find a buyer
I'd said that the fuel is ordered pre drilling which is incorrect. Once again, sorry for that.
Frimley, (sorry I'm terrible with names) regarding costings, I'd suggest something along the lines of:
1) What do you want to earn in the immediate future and long term once your idea goes live?
2) What will your consultants charge for their time?
3) What are your operating costs?
4) What do you think the market will pay for your service?
5) How many customers will be needed to cover 2, 3 & 4?
6) How many customers will be needed to cover 1, 2, 3 & 4?
From there you should be able to work out a ratio of what you can charge vs outgoings vs your profit.
1) What do you want to earn in the immediate future and long term once your idea goes live? My minimum would be what I am earning now.
2) What will your consultants charge for their time? I see it more that I will say to them that I will pay them a daily rate of £X00 amnd I will charge the clients that plus my margin.
3) What are your operating costs? Not got that far yet.
4) What do you think the market will pay for your service? Asking in the research.
5) How many customers will be needed to cover 2, 3 & 4? Not got that far yet.
6) How many customers will be needed to cover 1, 2, 3 & 4? Not got that far yet.
Thanks
Ross
Can you guys (who were there yesterday) drop me your email address to rossmeigh2000@yahoo.co.uk please? I was thinking about my other idea for a simple file storage system (web based) for small business and thought that it would be useful to get your view on it. I have some slides as examples which should make it clearer. Thanks Ross
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