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Original poster

Where do I go from here? (long.....)

26 replies

Norton · 23/02/2006 19:09

Just under three years ago I started a business

My turnover has doubled each year and it is a very sucessful business and I have won awards. However I am unlikely to become very rich running it as the over heads are very high

Currently and for about a year the business still needs me but for a decreasing amount of time each month. I anticipate that by April 2007 I will be surplus to requirements - but it will still be providing me with an income to live on.

What do I do then?

I can't make it any bigger (legislative requirements) I don't think I want to go into the next obvious step

So I'm stumped - I have made an appointment to see business link to see if they have any ideas as today at a management course it was identified that for me it is the struggle to achieve that is the attraction rather than the attraction (it may not be a coincidence that my dad is a management consultant)

I feel a bit lost and slightly scared that I will not be needed for much longer and kind of proud that it can manage without me - but I'm not cut out to be a lady of leisure.....where do I go from here?

OP posts:
littlemissbossy · 23/02/2006 19:11

Will it still provide you with a decent/enough to live on income?
Yes - then do something else to run alongside it.

Original poster
Norton · 23/02/2006 19:13

Yes it will be an OK income - enough to pay for holidays/food & clothes (DH provides all bill money) so we'd be OK

But I'm in need of inspiration

OP posts:
Original poster
Norton · 23/02/2006 19:34

I suppose I need a careers advisor or business advise

OP posts:
Original poster
Norton · 23/02/2006 20:44

bump

OP posts:
RedTartanLass · 23/02/2006 21:14

Why not go back to college part-time?

Original poster
Norton · 23/02/2006 21:20

I'm currently studying and should be finished in Sept an NVQ3.

OP posts:
perfumelady · 23/02/2006 21:32

norton i am in the same boat as you, i have a satellite installation company, we install for sky. i started it in 1992 and have built up from 6 engineers/crews to 15, i now have a manager that does all the day to day runnig he goes to meetings and stuff, so all that is left for me is paying the wages, vat return and doing the books.all three of my kids are at school so was a lady of leisure during the day, i hated it my mind was going crazy watching daytime telly and doing house work, so i have now taken up selling on ebay which gives me something to do for a few hours a week, and i've also just had my own website built which i'm hoping to launch in a few weeks.tell you what why don't you email me let me know what sort of things you like doing maybe a little bit about your business and i'll come up with some more ideas, my head is always full of them if i had started up everyone as a business i'd probably have about 20 companies sure i could think of something you could do, you sound very much like me so we will just have to get our heads together, email [email protected]

Original poster
Norton · 23/02/2006 21:44

Thanks Perfumelady, I may email you tomorrow....I must mention I can't sell at all - really really bad at it - I only succeeded because it was something that was a niche service

OP posts:
perfumelady · 23/02/2006 22:00

thats ok will have to find another non selling niche, i hate selling too,know what you mean.speak to you tomorrow

Original poster
Norton · 23/02/2006 22:06

I am really really good at setting up & running a business

I think that is my strength - unfortunatley the one I have set up can't be sold

So maybe I need to think about setting up a business to be sold?

OP posts:
perfumelady · 23/02/2006 22:10

what i mean't was i hate hard selling face to face and talking type selling. ebays fine cause i just list it,and my items sell them selves iykwim

perfumelady · 23/02/2006 22:14

what you need is a business idea that you can turn out as a franchise/management, that way you can make money on the sale and get a monthly %age or maybe invent something!!!!! that would be good

Original poster
Norton · 23/02/2006 22:18

I looked into franchising my business but it's not legally possible (I have taken advise)

Like inventing something....but I can't

OP posts:
perfumelady · 23/02/2006 22:23

is your business some one elses that you just run?

Original poster
Norton · 23/02/2006 22:25

No it's all mine - just heavily regulated

OP posts:
perfumelady · 23/02/2006 22:28

could you not take the business concept and adapt it into another like business that isn't so regulated?

Original poster
Norton · 23/02/2006 22:29

I childmind so unless I do a nursery I don't think the skills are very transferrable

OP posts:
perfumelady · 23/02/2006 22:36

just out of curiosity how did you think you would franchise a childminding business? i don't understand that, sorry don't mean to sound thick

Original poster
Norton · 23/02/2006 22:38

Sell the name, paperwork, standards, ethos etc to people who want to C/M but have concerns about the paperwork/finance etc

OP posts:
Original poster
Norton · 23/02/2006 22:40

Sorry then I'd do the advertising, finance & paperwork for part of the franchise (maybe?)

OP posts:
perfumelady · 23/02/2006 22:55

could you not set up an agency where you do every thing for the potential childminder, do a police check then advertise for there children when there training is done, because any mum that is looking for a childminder would be a lot happier if they new the childminder could only be on the agency with all the correct training, first aid etc you could as a agency match the correct minder to the familys needs.

soapbox · 23/02/2006 22:58

I know who you are

I would sell yourself as an expert in your field for people who are thinking of starting out - an advisor if you like

Otherwise OFSTED is an option - rating others.

Or something kind of related - a nursery would be an obvious choice.

You clearly have a very good head for business but also a good idea of what babies and young children need in a care environment and you should maximise your return from this!

Original poster
Norton · 23/02/2006 23:03
  • sorry soapbax I just think this sort of brainstorming/should be a bit separate from my regular persona So I can admit I don't actually like children very much, tho' I am quite good at it

OFSTED does appeal - but I don't think I want to be employed again - bad history

Nursery seems more & more to be the way to go

I'm not sure I'm an expert tho' just a bit anal and needing to have things "right" and "best"

OP posts:
perfumelady · 23/02/2006 23:11

do you get on with older people? reason i ask is i have been following how people made there millions(sad i know) and many people made there's from following the trends of the late 1940's baby boom, and these babies are now reaching retirement age so if you could incorporate a business idea/service for these people this is where the next wave of money would be. have you noticed the amount of new build retirement homes that are going up, the big name builders are cashing in on the 1940's babies.

soapbox · 24/02/2006 00:25

Oh, I mbeg to differ - I think in your chosen field you are an expert.

The choice you have to make is whether this is wheere you want to be going forward!

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