When did you start your first business???

[o.versteer]

31
Self funded
All mine (but am now also involved in partly owned joint ventures)
Still going - always a challenge but always fun, and beats having to put up with David Brent types

[kibosh]

Started the business 6 years ago aged 34

£5K loan from a very fine gentleman I did Business with who saw potential in me and asked for nothing back. I paid him his loan back within 2 months and we have a gentleman's agreement which he does very very nicely out of each Month. I owe him so much....

Still here...but courting potential buyers so I can naff off to sunnier climes.

See ya there Ted!!

[stevieb]

I had 2 started back in 2001, one folded due to lack of effort on my part and 1 was sold to local specialist.

I have a new idea but i have not got the time to get that started yet. Will be starting up within the next 6 months though once i have finished my MSc and MBA.

Edited by stevieb on Friday 26th January 13:45

[oggs]

BliarOut said:

Two months ago aged 41..... Still going

[The Londoner]

1) 37 after being made redundant
2) Funded out of savings
3) Started on my jack jones, still on my jack jones, obviously doesn't play well with others
4) Still going 12 years later, but well brassed off and looking for new opportunities.

[martin hunt]

started at 24 (38 Now) with nothing moderately successful 1st one. dot com in 1999 www.waparesult.com (no longer going but some fun things can be found on the web associated to me)

Started another in 2003 still going strong

Just embarked on my latest one www.waterblaster.eu in time for the summer

For me it this thrill of starting something up that can then keep going all by itself

Edited by martin hunt on Friday 26th January 19:25

[mogul]

33 (now 43) Not a partnership
£2000 loan from girlfriend (paid back in 8 weeks)
Now employ 7 people
T/O 1.2m and going strong.
I am willing to sell at the right price...

Edited by mogul on Friday 26th January 21:43

[itstony]

Another question to everyone?

Do you find the business's that you end up starting are also in industries which you are most familiar with. For example, if someone grew up a father who ran his own local garage and they then opened up business tuning high performance cars and race cars.
(or)
Did you devaite away and start something totally new which you though would be a great idea and then end up making a success out of it.

Also, for those of have started more than one business, did you have difficulty switching between different industries which are totally unrelated.

[mogul]

itstony said:

Another question to everyone?

Do you find the business's that you end up starting are also in industries which you are most familiar with. For example, if someone grew up a father who ran his own local garage and they then opened up business tuning high performance cars and race cars.
(or)
Did you devaite away and start something totally new which you though would be a great idea and then end up making a success out of it.

Also, for those of have started more than one business, did you have difficulty switching between different industries which are totally unrelated.

I know I've just posted but there's some good questions there and to answer.....

I started a business in the sector I knew. I had been selling in print for 10 years and quite frankly was bored with it but what else did I know?

Yes I have deviated and I didn't have a problem other than physical distance of the work load.

[kibosh]

itstony said:

Another question to everyone?

Do you find the business's that you end up starting are also in industries which you are most familiar with. For example, if someone grew up a father who ran his own local garage and they then opened up business tuning high performance cars and race cars.
(or)
Did you devaite away and start something totally new which you though would be a great idea and then end up making a success out of it.

Also, for those of have started more than one business, did you have difficulty switching between different industries which are totally unrelated.

All of the above. It's all about being prepared to fall on yer bum and even then giving it another go. Don't throw in everything you have and be prepared to change tact if the dead-horse is lying in front of you with a whip next to it. Don't listen to pompous oafs who feel the need to validate themselves by putting others down. KP crisps anyone?

[SS UTE]

31 (40 now)
self funded
sole trader, partnership, ltd co
sold it last August and moved to New Zealand. Set up another ltd co here.

[Lotusespritforum]

Started up at 32
Self funded
Sole Trader
Erm, it's only been a fortnight but it's looking good so far

[MHT223]

I've started in an industry that neither I, nor any of my family are involved in. My brother has set up his own business which is in the same industry as one of the family co's, but I saw what I felt was an opportunity and a gap in the market, rather than trying to create a need based on prior experience.



Seeing as there seems to be a lot of us in the same boat how about setting up some kind of PistonHeads networking scheme? Personally the trouble I have is attracting the right type of clients, and currently all my work is on word of mouth. Maybe we could devise some kind of referral scheme??

[zadumbreion]

I think it's in your blood. Looking back, I was always going to run my own business. Spent only a few years working in a "proper" job then about 5 years after graduation set up on my own.

Grew the business, sold to a Plc to (a0 make some money and (b) learn how to run a big business. Plc ran out of money, liquidiating the subsidiaries so we started again. Oh and the money was actually shares, which became worthless when the Plc went bust. Very sad. When I think how my circumstances would heave been different now had we been able to sell the shares.... Now I try to look back on it as a "shot that hit the crossbar".

I think it's absolutely crucial to stick to a business you understand. I sometimes get frustrated and want to jack it all in and start something fresh, but why start again at the bottom of the ladder?

Besides - when recruiting - it's so important to be able to assess someone's abilities and knowledge, and you can only really do that in a field you understand yourself.

[V8 EOL]

- Age: Me 29, partner 40.
- Investment: 20k each.
- Ltd co but with one other, he sells, I make.
- Still going: Yes

MHT223 said:

Seeing as there seems to be a lot of us in the same boat how about setting up some kind of PistonHeads networking scheme? Personally the trouble I have is attracting the right type of clients, and currently all my work is on word of mouth. Maybe we could devise some kind of referral scheme??

Agreed. Anyone here know a traffic manager from a Local Authority?

[steviebee]

zadumbreion said:

I think it's in your blood. Looking back, I was always going to run my own business. Spent only a few years working in a "proper" job then about 5 years after graduation set up on my own.

Grew the business, sold to a Plc to (a0 make some money and (b) learn how to run a big business. Plc ran out of money, liquidiating the subsidiaries so we started again. Oh and the money was actually shares, which became worthless when the Plc went bust. Very sad. When I think how my circumstances would heave been different now had we been able to sell the shares.... Now I try to look back on it as a "shot that hit the crossbar".

I think it's absolutely crucial to stick to a business you understand. I sometimes get frustrated and want to jack it all in and start something fresh, but why start again at the bottom of the ladder?

Besides - when recruiting - it's so important to be able to assess someone's abilities and knowledge, and you can only really do that in a field you understand yourself.

Very, very wise words!

Not everybody is cut out to run their own show but not everybody realises this.

Referring to the original question...

Started at 19
Investment: £1,000 + Small Business Scheme (£40 a week for a year)
Just me.
Still going of sorts. Was a sole trader but went bust in '92 but managed to "park" the business with another company with whom I went to work for. Then went off to do some other stuff and came back to it 5 years later to help set up a new company with some of the directors. We sold that businesses in 2000 and I ended up running an agency in a bigger group. Still working for my first ever client too!

[honestbob]

Started my engineering company at age 27 following redundancy.
That was 27 years ago. Grown modestly. Hard work but worth it.

[groomi]

MHT223 said:

Seeing as there seems to be a lot of us in the same boat how about setting up some kind of PistonHeads networking scheme? Personally the trouble I have is attracting the right type of clients, and currently all my work is on word of mouth. Maybe we could devise some kind of referral scheme??

I suggested a PH Business Directory about 18 months ago and good ol' Ted responded with this:

www.pistonheads.com/members/remember/links.asp

[MarkoTVR]

1. 27
2. No funding
3. Started on my own, still just me
4. Still trading, adding another arm to the company this year and possibly taking on employees.

[BliarOut]

groomi said:

MHT223 said:

Seeing as there seems to be a lot of us in the same boat how about setting up some kind of PistonHeads networking scheme? Personally the trouble I have is attracting the right type of clients, and currently all my work is on word of mouth. Maybe we could devise some kind of referral scheme??

I suggested a PH Business Directory about 18 months ago and good ol' Ted responded with this:

www.pistonheads.com/members/remember/links.asp

I never even knew that existed.....