Hello from a newbi

7 replies [Last post]
Entrepreneur
Offline
Joined: 19/06/2007

Hi All

Guess I better write an introduction as for the time being I’m going to be giving advice and building my knowledge and friends (hopefully) before I release what it is I’m doing. Don’t want you to all be thinking who the hell is this guy!

What’s my business qualifications with a name like this. Well none. But surely that’s what the word entrepreneur means. Someone who attempts to make profit. Well that’s what I tend to try and do on a daily basis. I’m 30 years old and so far have been unsuccessful. Well in a way.

See when I first got my pick up truck at the age of 19 I knocked on peoples doors with rubbish in the drive and asked if for a small fee they wanted it removed. If there were copper pipes within the rubbish I would take this to the scrap man. So I would be getting a profit on the rubbish I cleared and also any items within the rubbish that were more than just rubbish.

At the same time I was also dealing in a certain classic car. At the time not many people considered them to be classics but I knew there was a market and made small amounts of money. In the end storage and over heads killed the dream. The idea was a good one though. Today there are more than a dozen companies thought England specialising in these cars and spare. There is also a large market in EBay selling memorabilia.

It took a lot out of me losing the car classic car business. I knew it would work and with lack of funding had to watch as people around me did what I wanted.

Around this time a mate of mine and me purchased some domain names. They were selling for millions at the time and we though we could make it big. Just like thousands of other people.

Today, over 10 years after we started with a small handful of domains we are making money together. But I mean very small amounts. I could not give up full time employment put it that way!

But alone I have also been dabbling in the web. See there is still lots of money to be made if you are in the right place at the right time.

Your be able to tell from my post I don’t have a great education. My spelling and grammar is not great but I have determination and I’m going to make it. I have been stagnant for a long time and now the time is here to make it.

My only problem is I have so many ideas and as always so little funds. In fact I already owe so much.

Some of my ideas I have had to put to one side. I know people are probably going to figure these ideas out sooner or later but guess I will have to accept this.

I’m currently building an online store. All of my other web based ideas will work but they need lots of funding to get of the ground and time. So by doing the store I’m hoping to generate enough profit to be able to leave full time employment sometime next year and concentrate fully on the store and also the other ideas.

I have watched listened to and read lots of business books programmes and audio tapes and continue to do so. I hope I have and objective mind and can be of help to people here. When the time comes hope you can be of help to me to.

Good luck All

Entrepreneur

annasmedgard
Offline
Joined: 27/10/2004
Starting out when you are in debt

Hello entrepreneur!
Good name ;) Welcome to the site as well.
It is hard to start out when you are in debt. The main problem is that when you are on your own, then your income is going to fluctuate. Sometimes you get more, sometimes less and it is all depending on your sales and your expenditure. The result though if you are in debt already when you start out is that some months you might not have enough to cover your outgoings. If you then already have creditors, these could get nasty very quickly with registered defaults and such following. Anything on your credit record is going to be hard when you continue in business, it might affect business borrowing, the banks accepting you as a director and so on. Of course there is also the thing that if you don't pay one month, next month is doubly expensive.
It would be a good thing to pay back what you owe before you resign if at all possible. Or at least build up an instant access savings buffer as well so that you can meet your obligations without your customers paying their invoices on time, or during periods of slow sales.
Anna
Moderator, flyingstartups.com

Anna
Moderator, flyingstartups.com

Anna
Moderator, flyingstartups.com

IanM
Offline
Joined: 13/07/2007
Welcome. In regards to

Welcome.

In regards to Education well...i'm a bit of a dope too :P in some ways anyway, maths was not my forte.. but i'm still determined to make it big somehow :)

Ian

IanM
Offline
Joined: 13/07/2007
Welcome. In regards to

Welcome.

In regards to Education well...i'm a bit of a dope too :P in some ways anyway, maths was not my forte.. but i'm still determined to make it big somehow :)

Ian

Entrepreneur
Offline
Joined: 19/06/2007
Thanks. I had thought I

Thanks.

I had thought I would see if Entrepreneur was still available and it was. Lets hope I can live up to my name.

annasmedgard
Offline
Joined: 27/10/2004
I am sure that you will

I am sure that you will
You should start a pilots log as well. That way you have your consecutive logs in one place, and it is easier to look back on your progress. You won't believe how much your ideas will develop and how much more knowledge you will gather over time.
Anna
Moderator, flyingstartups.com

Anna
Moderator, flyingstartups.com

Anna
Moderator, flyingstartups.com

wasai (not verified)
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