Big_John_10 Posted December 4, 2012 Share Posted December 4, 2012 Just wondering if anyone has done it or come close to doing it? I've got an idea for the industry I work in and I'm now looking into setting something up. So anyone done it? Any advice or words of caution? Link to comment Share on other sites More sharing options...
Stevo985 Posted December 4, 2012 VT Supporter Share Posted December 4, 2012 I can't offer you any advice as I've never done it. But twice in the past year a friend and I have come close to doing it. Come up with a couple of ideas that we thought had legs but eventually decided it wasn't viable. I'm determined to do it in the next couple of years. Certainly before I'm 30 (3 years.....****) Link to comment Share on other sites More sharing options...
Big_John_10 Posted December 4, 2012 Author Share Posted December 4, 2012 Yes now I'm over the 30 mark its made me want to do it more!! Link to comment Share on other sites More sharing options...
PompeyVillan Posted December 4, 2012 Share Posted December 4, 2012 If it's a good idea you'll regret it if you don't try it. Link to comment Share on other sites More sharing options...
Big_John_10 Posted December 4, 2012 Author Share Posted December 4, 2012 That's what I'm thinking. I'd rather try and fail than sit there 20 years down the line thinking what if. Link to comment Share on other sites More sharing options...
cheltenham_villa Posted December 4, 2012 Share Posted December 4, 2012 I started 18 months ago, pretty successful so far (touch wood). My tips would be: Get a good accountant and ask for a fixed price (recommendations work well here). Find out the cost of absolutely everything you are doing, buying, making and then work out how many or how much of what ever you are selling, you will have to sell to make any money. Find out how many other people are also supplying the same service/products you are. Ask others (forums are a good way), what they think of your goods/services. Its very easy to get carried away with your idea. Be careful who you give credit to. All pretty obvious stuff, Im no expert but Ive done a lot of learning, pretty quickly.I also did it just after turning 30, was a "if i dont do it now" moment Link to comment Share on other sites More sharing options...
ender4 Posted December 5, 2012 Share Posted December 5, 2012 make sure you notify the taxman you have set-up a company within the allowed time (100 days?). my friend forgot, and got fined Link to comment Share on other sites More sharing options...
GarethRDR Posted December 6, 2012 Share Posted December 6, 2012 I had a small startup once, but it didn't work out. It was selling doors, door-to-door. "Can I interest you in a... oh shit, you've got one". 1 Link to comment Share on other sites More sharing options...
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