Why Start a Business?

Discussion in 'Starting & Running a Business' started by MTR, 4th Dec, 2015.

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  1. geoffw

    geoffw Moderator Staff Member

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    Thanks Xenia.

    We did well by selling the businesses. So it was a success in that way.

    But I don't see working 60-80 hours a week for 8 years as being a success. That was time I missed with my wife and kids.

    And in the meantime everything was toed up on the businesses- I couldn't buy any more properties. We had to sell a block of flats (aka the flock of bats) which we strongly cf+ in order to finance the second store- although we realised a 60% growth in three years.

    Many other franchisees were able to have their stores run by managers, and run extremely well. They typically work 15-40 hours per week (the ones who work more hours just because they like doing so). I had a manager who was very good but I could never get him up to the point of running a store in my absence. The person who bought my store had him running it in three months.

    What I like to do is to work with computers, and I can do that well. I don't like working with people, especially difficult people, and I know that this is not where my skills lie.

    My initial aim was to have it running as a passive investment while I pursued my career in IT. I was very naive.
     
    geoffw, 8th Dec, 2015
    #41
    Ted Varrick, hobo, tomlemke and 3 others like this.
  2. Lizzie

    Lizzie Well-Known Member

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    Very true - we have all bases covered with hubby in a PAYE job - we own a "business" that is managed by someone very trustworthy, who is also paid on commission so is incentified - and a self employed job.

    I often mutter that I'd like to give up the self employed job and just work 9-2 (school hours) - but hubby brings me back to earth with the comment "you could never work for someone else" - and he's right.

    Also, I can make more in one day than friends make in a week with their jobs - even tho my one day could be 14-16 hours and full on all day ...
     
    Last edited: 9th Dec, 2015
    Lizzie, 8th Dec, 2015
    #42
    Gockie, Xenia and MTR like this.
  3. Hysteria

    Hysteria Active Member

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    Couldn't agree more. I was a buyer of a business that turned into a sinking ship before I even opened the doors. A franchised business actually. I purchased a job. I would have been better off in staying in my previous job.
    But I am just about to pitch my new start up business in the New Year. It has been stimulating experience starting from scratch. It has been a lot of work to date and time consuming but I am looking forward to 2016.
     
    Hysteria, 8th Dec, 2015
    #43
  4. Biz

    Biz Well-Known Member

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    Im the same, had 25 employee/contractors at one stage and I hated it. I work alone now and I love it.

    LIKE A TIGER! REOOWW

    Can't work or empathise with people who are not on the same page as me.
     
    Biz, 8th Dec, 2015
    #44
  5. Xenia

    Xenia Well-Known Member

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    That's a huge phone biz - I'm not on the same page, mine is a lot smaller.
     
    Xenia, 8th Dec, 2015
    #45
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