Trying To Start My Own Business

[samnaffy]

Dear all.

I want to start my own business. well, get my own work as that is definatly where the money is but i want to go about it the correct way.

I have been in the security industry for 3.5 years covering all aspects but mainly intruder. i have got a business name and had some business cards made but not sure whether i have to register the name first before i hand them out.

Secondly, i would like some sort of acreditation (ssaib, nsi) but i believe that there are a lot of rules n regs to go by for that and money.

Would i be best of just handing out my cards, try and get some work, build up my capital and clientel then apply for ssaib or nsi.

Finally as i have never had to deal with office side only installation would i need to be an approved installer before getting my customers monitored via an arc??

Any answers and as much help with how others had gone about it would be greatly appreciated.

Many thanks sam.

[lawandorder]

Dear all.

I want to start my own business. well, get my own work as that is definatly where the money is but i want to go about it the correct way.

I have been in the security industry for 3.5 years covering all aspects but mainly intruder. i have got a business name and had some business cards made but not sure whether i have to register the name first before i hand them out.

Secondly, i would like some sort of acreditation (ssaib, nsi) but i believe that there are a lot of rules n regs to go by for that and money.

Would i be best of just handing out my cards, try and get some work, build up my capital and clientel then apply for ssaib or nsi.

Finally as i have never had to deal with office side only installation would i need to be an approved installer before getting my customers monitored via an arc??

Any answers and as much help with how others had gone about it would be greatly appreciated.

Many thanks sam.

Best advice I could offer (apart from don't do it) is start as you mean to go on.

Get good administration systems in place, administration and financial accounting are critical for all sorts of reasons.

Many excellent engineers fail in business not because they can't install a good job but because they haven't got a clue about sales and administration.

Approach the banks, many of them offer lots of good and free advice for business start ups.

[samnaffy]

so you mean i will be best of just doing as many pj's as posible?

[lawandorder]

so you mean i will be best of just doing as many pj's as posible?

That's not exactly what I meant though that's how I started. I was always getting asked to do private jobs (I worked for a large national at the time and they didn't really do average domestics).

Once I decided to go on my own I spent about a year doing all my jobs with a written spec and I started to keep proper client files and started doing the books as well.

I was also lucky enough to be offered a lot of subby work with another company, I worked for them 2-3 days per week until I was in a position to rely entirely on my own work.

Don't underestimate the value of maintenance agreements, remember, if you don't sign them up, if you fit 100 systems in year 1 (highly unlikely) and gross 20k you will have to fit another 100 systems in year 2 to achieve the same turnover. You need recurring revenue which can be quantified.

Having customers on contract adds value to your company and gives you something to sell if you ever want to, without contracts your business is effectively worthless to anybody except you.

[hpotter]

Best advice I could offer (apart from don't do it) is start as you mean to go on.

so you mean i will be best of just doing as many pj's as posible?

LOL. get out of that lawandorder.

Drat: beat be.

[lawandorder]

LOL. get out of that lawandorder.

Drat: beat be.

LOL

To be honest I would be reluctant to start a business in today's climate but I don't like to appear negative, lots of people tried to put me off back in the early 90s but I did very well out of it. I never got rich but I certainly earned a lot more than I earnt with large national.

Trouble is some people (and I'm not suggesting the OP is one of them) think that because they are a good engineer/joiner/plumber/spark they can run a succesful business. Sadly it's not that simple.

[hpotter]

LOL

To be honest I would be reluctant to start a business in today's climate but I don't like to appear negative, lots of people tried to put me off back in the early 90s but I did very well out of it. I never got rich but I certainly earned a lot more than I earnt with large national.

Trouble is some people (and I'm not suggesting the OP is one of them) think that because they are a good engineer/joiner/plumber/spark they can run a succesful business. Sadly it's not that simple.

Too right, good on yer.

Personally think the hardest bit to put into

[LDM]

Dear all.

I want to start my own business. well, get my own work as that is definatly where the money is but i want to go about it the correct way.

I have been in the security industry for 3.5 years covering all aspects but mainly intruder. i have got a business name and had some business cards made but not sure whether i have to register the name first before i hand them out.

Secondly, i would like some sort of acreditation (ssaib, nsi) but i believe that there are a lot of rules n regs to go by for that and money.

Would i be best of just handing out my cards, try and get some work, build up my capital and clientel then apply for ssaib or nsi.

Finally as i have never had to deal with office side only installation would i need to be an approved installer before getting my customers monitored via an arc??

Any answers and as much help with how others had gone about it would be greatly appreciated.

Many thanks sam.

Hi Sam. I wish all the best luck and don't like to sound negative but this really is not the best time my friend, as work is on rasions at the moment. The best advise I'd give is leave it 12 months because this recession will not last for ever. If you need any advise feel free to contact. Good luck

[A-G]

Sam, with the level of knowledge you've displayed in your opening post, you clearly don't have enough knowledge to start a business. If you're going to do it you need to get serious advice and take a long time about it.

90% of new businesses fail within 18 months because guys are brilliant joiners, terrific electricians, fantastic motor mechanics ....... but appalling at admin, business craft & marketing skills ...... and they only find out how bad they are when they're deep in debt or their marriage is collapsing.

[whistle]

Sam, with the level of knowledge you've displayed in your opening post, you clearly don't have enough knowledge to start a business. If you're going to do it you need to get serious advice and take a long time about it.

90% of new businesses fail within 18 months because guys are brilliant joiners, terrific electricians, fantastic motor mechanics ....... but appalling at admin, business craft & marketing skills ...... and they only find out how bad they are when they're deep in debt or their marriage is collapsing.

!00% Agreed get ready for a 8 hour day installing then an hour for tea then 2-3 hours in the office 5 days a week, then most of the weekend doing more paper work and on call every day for a good few years. But you cant beat working for your self.

I finished at a National 3 years ago as a service engineer (15 years) to start on my own, Now employ 5 people, trust me its a lot of hard work to make it work.

All the best of luck