Are you an entrepreneur? Do you know someone who risked it all and won big? Are you would-be entrepreneur but have yet to achieve success? Or maybe you have strong views or advice for the latest wannabes in The Apprentice. Share all your views here.
My advise to anyone atarting a business is simple, make sure you have enough money to sustain you and all you business commitments for at least 2 years. We started 10 months ago on a budget that was £10k below what we needed. The result, we are having our house repossed by the mortgage, we have not had any gas for 2 months, shopping bill is reduced to £10 a week maximum for 2 of us. results of working 18 hour days 7 days a week. Is it worth it? The answer is NO. Stick to a mundane job or sit on unemployment. This Country will do nothing to help you if you try.
I've got a little money. A brilliant idea and opportunity. But a truth is that it's lonely.. no one has the vision I have and I've had to learn to drive the idea myself. Friends are indulgent but swerve quickly when asked to involve themselves. Maybe my idea is not so brilliant ? This is the sticking point...do I really, really want to do this because, if so I am consigning relationships to the back burner. Success is likely to take 2-3 years so it's quite a sacrifice. No pain - no gain.
I have a great idea for an online music website. I have spoken to several Business Analysts who have all said the same - "Great ideas will all ways get great investment" and have offered to put me intouch with BAâ??s and/or VCâ??s.
My problem is, even though the set up cost is around £7k, I just donâ??t know what to do next? The site name is all registered and ready to go but I struggle on the BP side of things as itâ??s all in my head? Help!
I have no money but a head full of ideas, I always work on the principal knowledge is power, so, while working full time I studied from home for 3 years, sat exams and passed as a MIAB.
With this knowledge and still no money, I started my own limited company specializing in taking ideas and turning them into operating projects,
The trick when you have no money is to think small and slowly grow bigger and better.
Right from the beginning I eliminated all the major expenses that contribute to a business failing. The hardest part was the cashflow.
I now have a limited company, four shops and over 30 websites.
I still have not borrowed any money.
So if I can do it any one can, knowledge is power!
clare farrow i to have been in the same position,unfortuanately i was led around the garden path with my invention and now a very similar product is out on the market,not mine though.a worthwhile contact for advice and possible introduction to investors would be your local inventors group,im sure there must be one in worthing as there is in birmingham,they where very helpful but too little too late......
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