Time to get real

[playerone]

After working for myself for the past 3 years Ive come to the realisation I need to find a job. I have done well to get where I am now but with invoices going unpaid and being constantly let down by employees its become more trouble than its worth. I always vowed that I wouldnt be one of those people who plugged on blindly when there were other opportunities out there.

Looking at what I would have to earn PAYE to match what I am on now is scary!

Quite gutting to walk away from my first venture that I have spent so much time on but I dont think its the last time I will exercise some entrepreneurial spirit.

Anyone else had to go back in the 9-5 with a heavy heart?

PS If anyone is looking for a sales person/account manager/BDM in Greater London then give me a call

[TurricanII]

Can you nor try and flog the business to a competitor who has the staff to service your contracts and also work a 1 year handover period? Might be a way to squeeze a last few quid out!

[jon-]

What are you getting out of? Is it really the right decision? Are you due a market rally soon? Have you forgotten how utterly soul destroying it can be working for someone else? Can you not diversify?

If you go back to full time employment your chances of starting something else slip by a fair percentage, as it can just eat so much of your time / energy.

You say you're on decent money, got a war chest to help you diversify?

[Simpo Two]

Or - figure out how to get your invoices paid, and get reliable staff?

Easy to say I know, but therein lie the problems. Fix them and off you go

[playerone]

jon- said:

What are you getting out of? Is it really the right decision? Are you due a market rally soon? Have you forgotten how utterly soul destroying it can be working for someone else? Can you not diversify?

If you go back to full time employment your chances of starting something else slip by a fair percentage, as it can just eat so much of your time / energy.

You say you're on decent money, got a war chest to help you diversify?

We provide customers to subprime finace companies through direct sales and internet. Direct sales: Its very difficult to find door to door sales people to work for reasonable money and younger people just dont want to do it. Internet: Companies are not looking to actually grow their business and others are just falling over.

[Jackleman]

I ran my own business for 7 years, after some bad financial decisions on my part and having a bad car crash I could not really run my business properly anymore so went for the 9-5. I loved it, it was great to get home at night and be able to switch-off from work, also the paid holiday etc was all good. But when the recession came along I was made redundant! so sometime the grass is not always greener. I am now self-employed at the moment as there are no jobs near me unless I work in a nursing home or for the council. It pays the bills just, but as soon as I see the right opportunity I will be applying for it with the plan that I will run a little something on the side as an insurance policy and some extra cash!

[Andrew[MG]]

I started my business straight out of uni and ran it for a couple of years. Three of us opened a PC gaming centre (like an internet cafe for gaming) but we couldn't find a way to expand to more locations. I had the chance to sell to one of my partners and I took it....I'm still not sure if it was the best or worst decision I've ever made! The business is gone now, sold to HMV, but there wasn't a big profit or loss there.

After doing a bit of traveling, it took me a long time to get a job as all I ever wanted to do was run my own business. I still REALLY want to have my own business again as there is no satisfaction in working for someone else...

[Frimley111R]

I worked form myself for a year trading cars (not quote the same thing obviously) and then got a job. I loved going home and finishing work, not having it 24-7 with people calling me up at all hours and wanting to see cars during my social time. I earn better money now but, at 41, I think I'm getting past working for people. I've been in the office environment as an employee for too long now.

[playerone]

Switching off is one of the definite benefits. Mind you the level of jobs I am going for means that will not always be the case.

Dusting off the suit for an interview at a software company today. I forgot how much fun wearing peices of material tied round your neck is

[superkartracer]

Problem right there, you all want to switch off, running a biz is 24/7 and you must LOVE IT, if not work 9-5 etc.

It's not for everyone, and you can NEVER switch off, and the trick is finding something people can run while you look at the next thing, not easy but thats the challenge after-all.


S

[Frimley111R]

superkartracer said:

...running a biz is 24/7 and you must LOVE IT, if not work 9-5 etc.

It's not for everyone, and you can NEVER switch off....
S

I don't know why people say that. There are many business owners who are able to manage very successful businesses without this. You'd be amazed at how big their businesses are too. I'm not saying it is easy for all and many business owners do eat/sleep/breathe their businesses 24/7 but many don't.

[superkartracer]

Really, all the ones that i know don't stop from people running 250k turnover all the way up to 450 million

[TotalControl]

Frimley111R said:

superkartracer said:

...running a biz is 24/7 and you must LOVE IT, if not work 9-5 etc.

It's not for everyone, and you can NEVER switch off....
S

I don't know why people say that. There are many business owners who are able to manage very successful businesses without this. You'd be amazed at how big their businesses are too. I'm not saying it is easy for all and many business owners do eat/sleep/breathe their businesses 24/7 but many don't.

That's funny, because I haven't even started trading properly and I've made notes upon notes when I'm looking for different areas to get stuck into. Granted most of the time atm is spent on here as I'm starting a new job on Monday. So if I'm like this now I could imagine someone already running their business to constantly be on it.

[Andrew[MG]]

Frimley111R said:

superkartracer said:

...running a biz is 24/7 and you must LOVE IT, if not work 9-5 etc.

It's not for everyone, and you can NEVER switch off....
S

I don't know why people say that. There are many business owners who are able to manage very successful businesses without this. You'd be amazed at how big their businesses are too. I'm not saying it is easy for all and many business owners do eat/sleep/breathe their businesses 24/7 but many don't.

I would agree with this. I've met a few owners of big businesses who have a pretty good work/time balance. If they run their companies well then they will have good managers in place.....

[Mx_Stu]

Andrew[MG] said:

Frimley111R said:

superkartracer said:

...running a biz is 24/7 and you must LOVE IT, if not work 9-5 etc.

It's not for everyone, and you can NEVER switch off....
S

I don't know why people say that. There are many business owners who are able to manage very successful businesses without this. You'd be amazed at how big their businesses are too. I'm not saying it is easy for all and many business owners do eat/sleep/breathe their businesses 24/7 but many don't.

I would agree with this. I've met a few owners of big businesses who have a pretty good work/time balance. If they run their companies well then they will have good managers in place.....

I also agree.

I work in successful company (running since 1976, c.£1m turnover, 12 employees) and the majority shareholder and managing director has managed to achieve an enviable work/ life balance. It’s got to the point now that he works 3 days a week, takes 12 weeks holiday a year and is pretty much uncontactable when he's not in the office. As above when you have confidence in your staff you can concentrate on the more important things in life....

[superkartracer]

You have moved this from entrepreneur running the show and growing the business to shareholder/investor holdings sitting back and taking the cash, different thing and i'm sure they both worked their bks off to get to that point?

I know someone, i work for someone.... but you don't run a business do you so have no idea what and how they really operate or think.

I've just spent the last week in Spa watching the f1, business/s running fine with staff in place, but i still kept an eye on things.

24/7 until you are in the position to let things run themselves, you wont build a business doing a 9-5, impossible.

S

[maser_spyder]

The difference can often be taking a lot of time off at once.

I work like an idiot for 9 months of the year. And like a real idiot for three of them.

I then take three solid months off to go and live in the alps and ski.

Then back to work in Easter.

Works for me.