Is it still possible to start a side business?
Discussion
For a good while now i've thought about starting a small side business to bring in a little pocket money in addition to working full time however when you look into any ideas one has then you realise that either too many people are doing said thing or there's just no money in it anymore.
Has anyone ever had any success doing such a thing?
Has anyone ever had any success doing such a thing?
clockworks said:
Nearly 30 years ago I was working full time as a computer engineer. I taught myself to repair clocks as a hobby, an alternative to building model kits. I just repaired them for myself, family, friends and work colleagues.
Just over 20 years ago I had the chance to take voluntary redundancy, with the bonus of a retraining package. I signed up for a BHI course, and bought some decent tools (lathe, ultrasonic cleaner, etc), all paid for by my soon to be ex-employer. I moved to the other end of the country, but the need to earn money got me back into computers. I started the clock repairs business at the same time, by word of mouth. It grew steadily over the next 12 years. I was on the road fixing computers 6 days a week, then doing clocks in the evening and on my one day off a week. Hard going.
I made the decision to get out of computers, taking voluntary redundancy again. This paid off the mortgage, so the pressure was off. I took a part time job in a supermarket, started advertising in Yellow Pages, and got some contacts in the local jewellers shop.
I'm now at the point where I can give up the supermarket job (only doing 14 hours a week now), as the clock business just keeps growing by word of mouth. I will probably quit the supermarket within the next year.
As my employment status has shifted, my standard of living hasn't really changed, but I do have a bigger house and a better car. I'm a lot less stressed now though, able to work mostly as and when I want. Most importantly, I enjoy what I do for self-employment.
It can work, just need to find a niche that suits. I'll never get rich fixing clocks, but maybe that's why the market isn't flooded with clock makers.
Sounds good! How difficult/time consuming was it to teach yourself clock repair?Just over 20 years ago I had the chance to take voluntary redundancy, with the bonus of a retraining package. I signed up for a BHI course, and bought some decent tools (lathe, ultrasonic cleaner, etc), all paid for by my soon to be ex-employer. I moved to the other end of the country, but the need to earn money got me back into computers. I started the clock repairs business at the same time, by word of mouth. It grew steadily over the next 12 years. I was on the road fixing computers 6 days a week, then doing clocks in the evening and on my one day off a week. Hard going.
I made the decision to get out of computers, taking voluntary redundancy again. This paid off the mortgage, so the pressure was off. I took a part time job in a supermarket, started advertising in Yellow Pages, and got some contacts in the local jewellers shop.
I'm now at the point where I can give up the supermarket job (only doing 14 hours a week now), as the clock business just keeps growing by word of mouth. I will probably quit the supermarket within the next year.
As my employment status has shifted, my standard of living hasn't really changed, but I do have a bigger house and a better car. I'm a lot less stressed now though, able to work mostly as and when I want. Most importantly, I enjoy what I do for self-employment.
It can work, just need to find a niche that suits. I'll never get rich fixing clocks, but maybe that's why the market isn't flooded with clock makers.
Gassing Station | Business | Top of Page | What's New | My Stuff