Business in the real world

[Skyfall-0D2]

When I started my home inspection business the first year I made five grand, it took three more years to make it profitable. My grandson now runs the business and is doing very well. It takes money to start a business, and their is no guarantee of success. I'm sure many on this forum have a lot better understanding of business startup and development than I do.

I wish you the best of luck.

Thank you. Yeah, I know it's about the initial investment and putting the right amount of £££ ($$$) in the right place. Having run a business for 19 years, that part isn't so much an issue, it's more about consistansy in income and the business model. We have a business here called 'Copters' who say that the 'industry will be worth £42 billion ($51.6B) in the next 10 years in the UK ??. That’s pre-Covid figures, but even 70% of that is good! What I don’t want is to work 80 hours per week for £5K P/a for 3 years. It’s a ‘most tantalising conundrum’ to quote Mr Bond (Sean Connery)...

 

[Skyfall-0D2]

One suggestion -- there is no substitute for being out in the field doing a job, even a non-paying job. Meet everyone you can and give/get cards, names, contact info, and remember their names the next time you're on that site. Copy selected ones with deliverables if it doesn't create conflicts. If you have to do a job for free as a demo or proof of concept, make it count. Most of my first year paying jobs came this way. One good client can feed into another who becomes another, etc. Keep in touch with anyone who will communicate with you, but don't pester them. A good client is a precious thing. Over-serve him/her.

When you're in the field flying, you're gaining experience and exposure. Both are really important.

Hi, Thanks for sharing and I have had a really good look at your website too. I have seen websites that tell, but have no examples, but yours is very informative with great examples. ?
You have a very valid point. We have a very niche market in my area and some free examples to build the website with examples and get my name out there sounds a great idea. Fantastic!

 

[Skyfall-0D2]

Thanks again everyone. I hope this helps others in the future and I appreciate your honesty.

 

[R.Perry]

Thank you. Yeah, I know it's about the initial investment and putting the right amount of £££ ($$$) in the right place. Having run a business for 19 years, that part isn't so much an issue, it's more about consistansy in income and the business model. We have a business here called 'Copters' who say that the 'industry will be worth £42 billion ($51.6B) in the next 10 years in the UK ??. That’s pre-Covid figures, but even 70% of that is good! What I don’t want is to work 80 hours per week for £5K P/a for 3 years. It’s a ‘most tantalising conundrum’ to quote Mr Bond (Sean Connery)...

My opinions are based on my experience, not a general rule. I was already retired when I started the home inspection business so I had income to play with, and didn't devote full time to establishing and growing the business, it was a side thing to stay busy and out of my wife's hair, so please understand it was a part time thing that grew into a full time business that I turned over to my grandson that is actually doing a better job than I did.

 

[Skyfall-0D2]

Ah... got cha!

Yes, I definitely understand that part. If 12 weeks of lockdown taught my wife & I anything, it’s that ‘we love each other (bless)’, but in small doses... The alternative is divorce, which is more expensive than starting a new business, so she is very supportive. ?

Thanks again!

 

[Gcarb63]

Lots of knowledge and wisdom given. Love the forum for this reason. Best to you and your decision to start a business. I believe you will succeed in any field you choose. Just go for it and have fun !!! Cheers !!