Starting Again
Discussion
I thought I would do a thread on my efforts to "do something" new, I am lucky in that I can self finance a modest new venture but I dont want to throw cash away so this will be very much on a budget.
I set up a LTD company, its not VAT reg yet and I used my accountant to do it (£150), yes its easy to do but I used them. I own the URL myname.com (as in my real name fbloggs.com) so for speed and easiness I registered FBloggs LTD.
I dont need a large warehouse so I wont be using the old DST one with £1800 a month overheads before I pay myself rent! I have seen some starter units in the old Champion Spark Plugs Site at £90 a week all in which I will check out next week (office and small store).
What will I do ? well so far I have done "work with" 3 companies, one was my old company as a handover which is the main part of my fledgling income and the other with small eCommerce companies that needed a steer (2 days and 4 days). Right now I have nothing solid but a warehouse full of racking, desks and stuff I want to sell most of (I dont need it all).
My friend is a ecommerce consultant who is currently working in hover boards and fake eye brow kits, we could set up a larger consultancy and we have discussed a sharply targeted on line business selling one line at high margin (imagine being a jubilee clip super stockist, every colour, style, size in stock) but marketed via social media (would go Shopify next time not Magento)
So thats where I am today, about to go VAT reg and ordering some business cards from Vista ...... I resisted to put "wars started, virgins converted and rats caught" on my cards but it did cross my mind in the "whats your mesage" field.
Oh and I am discovering new faults in my 2005 Volvo D estate deemed my new company car!
I set up a LTD company, its not VAT reg yet and I used my accountant to do it (£150), yes its easy to do but I used them. I own the URL myname.com (as in my real name fbloggs.com) so for speed and easiness I registered FBloggs LTD.
I dont need a large warehouse so I wont be using the old DST one with £1800 a month overheads before I pay myself rent! I have seen some starter units in the old Champion Spark Plugs Site at £90 a week all in which I will check out next week (office and small store).
What will I do ? well so far I have done "work with" 3 companies, one was my old company as a handover which is the main part of my fledgling income and the other with small eCommerce companies that needed a steer (2 days and 4 days). Right now I have nothing solid but a warehouse full of racking, desks and stuff I want to sell most of (I dont need it all).
My friend is a ecommerce consultant who is currently working in hover boards and fake eye brow kits, we could set up a larger consultancy and we have discussed a sharply targeted on line business selling one line at high margin (imagine being a jubilee clip super stockist, every colour, style, size in stock) but marketed via social media (would go Shopify next time not Magento)
So thats where I am today, about to go VAT reg and ordering some business cards from Vista ...... I resisted to put "wars started, virgins converted and rats caught" on my cards but it did cross my mind in the "whats your mesage" field.
Oh and I am discovering new faults in my 2005 Volvo D estate deemed my new company car!
DSLiverpool said:
...... I have seen some starter units in the old Champion Spark Plugs Site at £90 a week all in which I will check out next week (office and small store).
Old but solid units. Nightmare to get to and from in rush hour from Arrowe Park direction 
Surprised you went limited rather than simple sole trader to begin with but I'm sure there is a logical reason
Jockman said:
DSLiverpool said:
...... I have seen some starter units in the old Champion Spark Plugs Site at £90 a week all in which I will check out next week (office and small store).
Old but solid units. Nightmare to get to and from in rush hour from Arrowe Park direction Surprised you went limited rather than simple sole trader to begin with but I'm sure there is a logical reason
DSLiverpool said:
I cant open an account with the manufacturer I desire (in future) without being LTD and VAT reg, having a work address and generally being a "proper" company.
On a serious note, isn't it curious that they will only sell to someone who has a legal means to avoid paying their bills, as opposed to a sole trader they could sue to hell and back.Simpo Two said:
DSLiverpool said:
I cant open an account with the manufacturer I desire (in future) without being LTD and VAT reg, having a work address and generally being a "proper" company.
On a serious note, isn't it curious that they will only sell to someone who has a legal means to avoid paying their bills, as opposed to a sole trader they could sue to hell and back.None of my business really but what was your reason for selling a seemingly profitable business you built up to then not move into something else you had solid plans on? For example i could understand you selling your firm if you knew exactly what you wanted to do next, i.e onto bigger and better things. I'm just curious for your reasoning.
fellatthefirst said:
None of my business really but what was your reason for selling a seemingly profitable business you built up to then not move into something else you had solid plans on? For example i could understand you selling your firm if you knew exactly what you wanted to do next, i.e onto bigger and better things. I'm just curious for your reasoning.
I saw the future and I fell out of love with being an employer, we were doing close to £3m and it was getting more and more competitive against the "sell for nowts" as my business model was heavily service and knowledge based. I just didn't like the business I was in nor the pressure.Being reliant on 3rd parties (eBay, amazon, Seo, google, web co) killed me and when I asked three separate companies about my new website and got three separate differing answers and costs from £20k to £50k to make it sing (no guarantees though) I decided to get shut and start again with a model that suits me better.
Luckily I have my last ever home mortgage free and no debt, I won't have a DBS anytime soon but I will have a Mustang ;-)
My mrs will open the bagel bakery next year and whilst it's early days I am pretty sure £50k a year doing odds and sods is achievable and that will do.
Of course it's very very early days and whilst today has been a "contemplation" day I have still had a few calls and emails from people who I can do "stuff" with - main priority us to sell my CCTV, desks and racking though as it's dead cash.
Thankyou4calling said:
I hope this goes well for you.
You seem to have floated quite a few ideas on here so now you are focussed you can make it fly.
What happened to the bagel business proposal?
You seem to have floated quite a few ideas on here so now you are focussed you can make it fly.
What happened to the bagel business proposal?
DSLiverpool said:
My mrs will open the bagel bakery next year .
Plan changed to actually have a small bakery making them now rather than buying from Manchester.Justayellowbadge said:
Out of interest, does your chum work for an outfit starting with 'O'?
Can't be many about with that product mix!
No, John is a one man band, possibly we will be a three man band with a social media expert joining us (if we go in that direction) - he is in effect a ecommerce marketing manager for hire by the day, week, month etc and his clients change rapidly, he has just finished working on LED light bulbs, has done swimwear recently etc. He just makes sure the web site is efficient, the web company are not taking the piss, the staff are trained and know what to do regularly and the SEO is effective etc. Can't be many about with that product mix!
DSLiverpool said:
I saw the future and I fell out of love with being an employer, we were doing close to £3m and it was getting more and more competitive against the "sell for nowts" as my business model was heavily service and knowledge based. I just didn't like the business I was in nor the pressure.
Being reliant on 3rd parties (eBay, amazon, Seo, google, web co) killed me and when I asked three separate companies about my new website and got three separate differing answers and costs from £20k to £50k to make it sing (no guarantees though) I decided to get shut and start again with a model that suits me better.
Luckily I have my last ever home mortgage free and no debt, I won't have a DBS anytime soon but I will have a Mustang ;-)
My mrs will open the bagel bakery next year and whilst it's early days I am pretty sure £50k a year doing odds and sods is achievable and that will do.
Of course it's very very early days and whilst today has been a "contemplation" day I have still had a few calls and emails from people who I can do "stuff" with - main priority us to sell my CCTV, desks and racking though as it's dead cash.
I see where you're coming from. I'm an online retailer and being reliant on 3rd p[arty sites worries the hell out of me some days. My dream is to get my website big and make the majority of our profit from that. Being reliant on 3rd parties (eBay, amazon, Seo, google, web co) killed me and when I asked three separate companies about my new website and got three separate differing answers and costs from £20k to £50k to make it sing (no guarantees though) I decided to get shut and start again with a model that suits me better.
Luckily I have my last ever home mortgage free and no debt, I won't have a DBS anytime soon but I will have a Mustang ;-)
My mrs will open the bagel bakery next year and whilst it's early days I am pretty sure £50k a year doing odds and sods is achievable and that will do.
Of course it's very very early days and whilst today has been a "contemplation" day I have still had a few calls and emails from people who I can do "stuff" with - main priority us to sell my CCTV, desks and racking though as it's dead cash.
Small world, i am too on the mustang waiting list!
fellatthefirst said:
My dream is to get my website big and make the majority of our profit from that.
Use a third party (who does not do SEO or sites) to monitor your site performance in depth ALL THE TIME - your webby will be too busy on the latest client demands, you may do it but only half a job, your staff may do it but may also be on FB or just not telling you the truth. (not all webbys I know - I am generalising there are some great web guys out there so dont shout at me webbys)The idea I had with John (my consultant mate) and floated on here about a year ago was to offer a regular site report on a continuous basis from a company that doesnt need your money for SEO or more web design - a truly independent opinion every week / month and as in depth as you can afford or need.
In September Google made some pretty big changes that really influenced some sites positioning, did your webby discuss this with you?
DSLiverpool said:
Justayellowbadge said:
Out of interest, does your chum work for an outfit starting with 'O'?
Can't be many about with that product mix!
No, John is a one man band, possibly we will be a three man band with a social media expert joining us (if we go in that direction) - he is in effect a ecommerce marketing manager for hire by the day, week, month etc and his clients change rapidly, he has just finished working on LED light bulbs, has done swimwear recently etc. He just makes sure the web site is efficient, the web company are not taking the piss, the staff are trained and know what to do regularly and the SEO is effective etc. Can't be many about with that product mix!
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