hornet1982 Posted July 25, 2007 Posted July 25, 2007 I'm an experienced Senior Engineer and am considering going self-employed with a friend, who is also an experienced Engineer, as a 2 man team. Before I decide to do this I need to get a few months worth of work secured as I will be leaving a very well paid job. PM me if you would like me to forward my CV to you.
F C E Posted July 25, 2007 Posted July 25, 2007 Hello and Apply for trade membership it allows you to see hidden areas of the site the link is at the bottom of this post regs FCE All comments in this post are my own views and do not necessarily reflect the views of my employer
hornet1982 Posted July 25, 2007 Author Posted July 25, 2007 Hello and Apply for trade membership it allows you to see hidden areas of the sitethe link is at the bottom of this post regs FCE Link doesn't seem to work
arfur mo Posted July 25, 2007 Posted July 25, 2007 Link doesn't seem to work you just can't get the right staff these days hi hornet1982, as someone who went solo from the off from a well paid position, and also having been offered various partnerships (which i turned down) over time, i can say you need to be very sure of whoever you team up with and they are rock solid, also you can put up with each other when times are rough. in some ways partnerships are like a marriage, one will always be bitching at the other for what ever reason, so depends how mature you both are over resolving disagreements. i'd honestly advise initially that only one of you go's S/E to test the water while the other stays employed for a period say 6 months. this is to keep some money coming into the partnership - you still have to eat. if you happen to crack big contract fair enough. ignore or take my advice as you see fit, but best wishes for the venture in any case. regs alan If you think education is difficult, try being stupid!!!!
F C E Posted July 25, 2007 Posted July 25, 2007 Link doesn't seem to work does now All comments in this post are my own views and do not necessarily reflect the views of my employer
hornet1982 Posted July 25, 2007 Author Posted July 25, 2007 Thanks for your advice. In the long term we are looking at going more into electrical rather than security as my friend has just got to complete his part 2 course and I am looking into getting my part p certificate. However, we have both been doing security for a while and its what we know inside out so we are using this as a stepping stone, although I am keen not to totally leave it - he'll probably be concentrating more on the electrical side of things and building that up whilst I concentrate on the security side of things although we'd both be doing the work. We have been talking about this for a while and he is probably the only person that I would go into partnership with. We are going to have to be a 2 man team for the time being as he has lost his driving licence for accumulation of points but once he has it back we will be trying to get the work in so that we can do jobs on our own. Thats why I thought this may be a good opportunity to start now so that it gives us the time to get some money in so that we're able to buy another vehicle once he gets his licence back. At the moment I am just putting the feelers out, if I am not able to secure some long term work or a long term contract then I am not going to be able to commit to leaving my current employment. If we can be assured of a couple of months of work to start out with it gives us that time to then seek more work for afterwards. Thats the plan anyway.
Guest anguscanplay Posted July 25, 2007 Posted July 25, 2007 as dear old dad used to say " the only ship that doesnt float is a PARTNERSHIP " lol , wish you well in your new venture. might be just a tad optimistic in your business plan imo as anyone with a " couple of months work " secured is the exeption rather than the rule ( things tend to be needed yesterday in this game ) and the couple of months will be over in a short time. reading your posts there needs to be a top dog and its sounded to me like your going to be doing it all , not a good idea either bite the bullet and leave , there is plenty plenty of work out there subbing if things dont take off chances are your old firm wil need someone at a push ? wheres the name come from ? " Hornet " if its security related stirs memories for some of us Angus
hornet1982 Posted July 25, 2007 Author Posted July 25, 2007 wheres the name come from ? " Hornet " if its security related stirs memories for some of us I'm a Watford fan.
arfur mo Posted July 25, 2007 Posted July 25, 2007 possibly the biggest thing you will have to handle mentally is no work periods, believe it or not too much work can create the same amount of stress and it happens to everyone but is felt harder by new companies with no fall back in place. i'd say here to be prompt and diligent with your paperwork and accounts, especially invoicing asap, most start-up's fail due to neglecting this vital if very boring activity and get crushed due to cash flow problems. bigger jobs get a deposit to at least cover the capital gear, very big jobs get progress payments. i also think you need to look harder at the tax releif ramifications, please seek advice from a good recommended accountant and your bank. you need both 'on board' to have any real chance to survive, especially seek advice on whether to actually be a partnership, or you act as an employer to you mate as his employee for tax, NI and PAYE reasons, in line with your business aspirations, and be ready and willing to adapt to you intended market (or otherwise). in your situation there is no comfort zones, and no guarantee you will succeed, but if you don't try it you will never know. i likened it to standing and looking across a crevice, deciding to jump across or not against the real risk falling. i know it's a pain working for someone, but be sure your not a victim of the grass is greener. finally, and really most importantly talk this through with you wife/life partner, otherwise the arguments will soon flow if they are not on board and things get tough. regs alan If you think education is difficult, try being stupid!!!!
hornet1982 Posted July 25, 2007 Author Posted July 25, 2007 Thanks for your advice. This is something that I'm not taking lightly, we will both be sitting down together and going through it all very thoroughly. I will certainly take everything you said on board.
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