starting a business

[Bubbasparx]

Hi all, I am an electrician currently working for a shop fitting company, but am thinking of becoming self employed. Does anyone have any advice on setting upon your own? Thanks.

 

[jimminick]

I'll get you started but I'm sure others will add more.

Firstly decide what market sector you are going for: domestic, commercial, industrial; and as you'll know make sure you're properly certified and insured to do the work.

How are you going to attract & secure business? You'll need some form of outline sales & marketing strategy no matter how big or small you want to be!
Budget: how are you going to finance this plus many other financial considerations; just do a web search and you'll pick up a basic business budget template and work up from there.

Running your own business is not always easy but when successful gives you a sense of freedom that makes you never want to be 'employed' again!

Good planning, common sense, tenacity and HARD WORK rarely fail in business. Good luck!

 

[Octopus]

Prepare yourself for living off baked beans on toast for 2 years.

Do a search on this site, there have been a number of similar threads over the recent months.

 

[Apollo]

Bubba,

I'm doing the same at the moment, Best advice I can give you is ignore all the negative comments. Negative comment only stiffle you.. I'm sure people will be on here saying get in the real world well I am I never listen to negativity and I'm following my plan to my schedule....

Be your own person and have courage in what your doing. People saying there isn't work are not trying everything. There are SO many ways to market yourself, think outside of the box and you'll be fine. You have to be more than a sparky these days you have to be everything, Marketing, PR, web designer etc etc!!!

 

[Big n Daft]

Find a good networking group in your area and keep attending the work will come. Conventional means of advertising are dead in the water.

 

[ferg]

Personally I kept my full time job and worked at it part time using days off and annual leave.
Easier for me as I worked shifts so could work mornings afternoons etc. Until I built up enough business through word of mouth.
Then part time for my employer eventually full time for myself.
I realise this wouldn't have worked for everyone but it worked very well for me.

Hope this helps

 

[Dunc]

Personally I kept my full time job and worked at it part time using days off and annual leave.
Easier for me as I worked shifts so could work mornings afternoons etc. Until I built up enough business through word of mouth.
Then part time for my employer eventually full time for myself.
I realise this wouldn't have worked for everyone but it worked very well for me.

Hope this helps

If you can do this this is an ace idea. I went lock, stock, the chuffing lot when i went self employed and it's only after 4 years that things have started to go right.

My advice would be to ensure that you stay on top of the paperwork of which there will be lots. When you complete a job spend an hour in the office that evening, finalise the certificate, register for building regs. (if required) and get it invoiced. I used to be really bad at this and became very strapped for cash at one point which was nearly disastrous. Also have a statement in your T&C or on your invoice that payments will be expected within 7 days or less. Once a payment is late do not hesitate to chase it otherwise people will forget to pay there bills. Also get a good working relationship with your suppliers, always pay them on time and keep on top of them so you get good prices and offers whenever they are available. Otherwise, be clean, tidy and professional on site and let the quality of your work get you everywhere. All my work came initially from people i knew, after that it become friends of friends and so on and so forth until i have 2 plumbers, a builder and a kitchen/bathroom company putting work my way on a regular basis. It's a hard slog but ultimately very rewarding when it comes right.