The employee mentality

[singlecoil]

Reading here and elsewhere about the job situation, it seems to me that there are a great many people who, when out of work, seem to be able to think only in terms of finding another job. In a way, that's understandable, if one can find the right job, quickly, then there's no better/quicker way of continuing to earn the money that one's family needs and has got used to.

But what I read a lot less of is of people trying to get something of their own going. Three years ago I found myself without a job, not really my fault, but I knew that, mainly because of my age, I would have virtually no chance of getting another one.

At that point I could have become a house husband, but instead I looked about and found a workshop for rent, and started earning a bit of money. That's built up to the point at which only the offer of an unfeasably good job would tempt me away from it.

So I wonder why I don't read more about other people doing similar things, or at least trying to, or even thinking about it?

[Turn7]

Lack of bks basically.

[Jasandjules]

Some people are happier being employed, some are not. There are risks and rewards associated with each.

[scenario8]

Good for you.

Lots of people set up small businesses every year. I'm sure there are lots of fora about them. My locals are full of self employed people (often during "work hours" incidentally). I'd imagine there are more self employed people in the UK right now than at any time in history. The fact the broader media don't talk very much about them probably has much to do with the general masses preferring to hear about X thousands being laid off rather than Y hundreds starting their own businesses.

[Jasandjules]

scenario8 said:

Lots of people set up small businesses every year. .

And lots of business go bust every year.....

[singlecoil]

Jasandjules said:

Some people are happier being employed, some are not. There are risks and rewards associated with each.

I'm not surprised that people are reluctant to leave jobs to start their own businesses, I'm thinking more about those that don't have jobs and with nothing in the offing.

[chris watton]

Just over a decade ago, I was working for a not very good wage- so I started my own company. My income increased 4 fold in the first year. It can be done...

[RemainAllHoof]

Jasandjules said:

scenario8 said:

Lots of people set up small businesses every year. .

And lots of business go bust every year.....

2 in 3 new businesses fail in the first 3 years, I read somewhere. Or was that marriages?

[scenario8]

Lack of Capital?
Knowledge?
Coaching?
Experience?
Balance of Risk?

If I was made redundant tomorrow morning I doubt I'd first think of starting up a new business. Hats off to those that would/do. I have several friends who started their own businesses. All seem at least as "happy" as my employed friends. I doubt many of my emplloyed friends could switch to self employment easily.

[scenario8]

RemainAllHoof said:

2 in 3 new businesses fail in the first 3 years, I read somewhere. Or was that marriages?

Maybe there's a market for marriagecounselling inc. or similar?

[0a]

I would really like to hear more of your experience, and I'm sure this would help you convert more people to doing the same.

I'm about to start on this journey, and coming from a family that is not a start-up family I'd love ask a few questions:

- how easy and how much was it to set up a workable, sorted company (ie not just a registered one)
- how did you sort the website
- any employees yet, it so how did employing them go?
- how did the idea of a company/you being boss convert to reality? Better or worse?
- did you get family involved? My mother is retiring and is gripped by the idea of being my company secretary.

[deeen]

I could rent a small workshop tomorrow, but what would I make?

Then what happens if no-one buys it?

It's not the lack of balls, it's the not knowing what to do, for many people, I would imagine.

[RemainAllHoof]

singlecoil said:

I'm not surprised that people are reluctant to leave jobs to start their own businesses, I'm thinking more about those that don't have jobs and with nothing in the offing.

Possibly several reasons I am guessing:
1) Don't think they are capable of doing so
2) Don't know where to start nor where to get help from
3) Don't have the self-motivation (which means they won't have it to keep going when the st hits the fan)
4) Don't have the financial backing to try an idea
5) Don't have a suitable idea and realise it
6) Have crap friends/parents who discourage them because they've never had the balls to try it

It is a shame, really, as the more businesses out there, the better the chance we have of the economy being turned around. Of course, then we have the banks lending and the red tape issues to deal with for anyone who does get started.

[RemainAllHoof]

scenario8 said:

RemainAllHoof said:

2 in 3 new businesses fail in the first 3 years, I read somewhere. Or was that marriages?

Maybe there's a market for marriagecounselling inc. or similar?

There is. It's mainly full of 50 year old women. Not heard of Relate?

[Chilli]

I suggest that not everyone has the ability or skill to. You could give me a workshop full of the latest tools and devices and I'd still end up with a load of old ste that would be useless for all.

[paddyhasneeds]

I suspect a lot of it comes down to skill set.

I work in IT so if I was made redundant tomorrow I could easily (let's ignore how to get customers) set up in business by myself as ultimately I am the tool (yes I know how that sounds )

If you work at, say, McDonald's and you're made redundant and you have minimal specialist skills it's a little harder as if what you're offering is goods or unskilled services you most likely need money to start up with.

[RemainAllHoof]

paddyhasneeds said:

(let's ignore how to get customers)

7. Don't know how to effectively market their business.

[carmonk]

singlecoil said:

Reading here and elsewhere about the job situation, it seems to me that there are a great many people who, when out of work, seem to be able to think only in terms of finding another job. In a way, that's understandable, if one can find the right job, quickly, then there's no better/quicker way of continuing to earn the money that one's family needs and has got used to.

But what I read a lot less of is of people trying to get something of their own going. Three years ago I found myself without a job, not really my fault, but I knew that, mainly because of my age, I would have virtually no chance of getting another one.

At that point I could have become a house husband, but instead I looked about and found a workshop for rent, and started earning a bit of money. That's built up to the point at which only the offer of an unfeasably good job would tempt me away from it.

So I wonder why I don't read more about other people doing similar things, or at least trying to, or even thinking about it?

I did that too, the difference being I told my employers to stick their job (suddenly you're a valued employee when you do that - odd how it works out). That was six years after telling the first lot to stick their job too, but there won't be a third time. I earn fk all now, of course, but I guess you can't have everything.

[carmonk]

RemainAllHoof said:

paddyhasneeds said:

(let's ignore how to get customers)

7. Don't know how to effectively market their business.

It's an interesting point. What you learn pretty quickly working for yourself is that marketing and networking is everything. At least in my experience. If you can network then you're sorted, skills are a distant second.

[NismoGT]

A friend of mine lost his job as a mechanic last year.

Two months ago he opened his own garage. He has done well for himself. Always fully booked.