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Taking the plunge


djt77
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So just wanted to post up the timing is right and in 2 weeks time I'll be self employed trying my hand at running my own business a Quantity Surveying firm. Taken longer than expected but moving to a new country and starting over again added a few years on to the game plan.

 

Very excited and nervous at the same time, but I figure with enough hard work and determination there is no reason why I can't make it all work.

 

Plan is to do up until Christmas working from home with a view to getting a serviced office in the CBD beginning of next year.

 

I thought I'd post this up here to let anyone who's interest know how things progress. Open to any and all tips and advise.

 

 

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congrats and best of luck. There will be lots of good advice from LPers when you ask for it!

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Thanks for the words of encouragement. Should anyone have any advice they wouldn't mind sharing I'd be grateful as I'm sure others would be as well.

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  • 2 months later...

So a little update, I managed to complete a few projects towards the end of last year, nothing spectacular but keeps some money coming in and hopefully 2014 things will start to take off in the coming months. Construction Industry is sometimes a little slow to start up from the Christmas shut downs.

 

Speaking with others over the holiday season couple of common comments were "what your doing is very courageous" and "don't expect it to be busy in your first year as people want to see a firm establish itself". So going to keep doing what I'm doing, try and broaden my network of contacts and keep motivated.

 

Wish all on the board the best for 2014, a Lambo might not be on the cards for the near future but have to keep the faith.

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Don't listen to the naysayers, stay positive and focused, make your own luck!

 

Also remember a crucial thing in your business is gaining key customers, after that it is customer retention, bend over backwards, do not be greedy and you will make it!

Best of luck!

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  • 1 year later...

So I figure a little time for an update and maybe a review of how things are progressing. First off company is still here which is clearly a positive. Whilst being a consultancy there isn't a tangible product produced such as a pen or pencil (you get the idea) what is produced is information be it in the form of quantities/costing/advise/etc.

 

I've managed to win a couple of tenders that we put in for and so know that there is work in the pipeline going forward. Whilst this has been a good boost for moral and good for the bottom line for the firm, there has been a downward trend with fewer tender opportunities coming to market and I can't see much changing over the next 18/24 months.

 

Whilst we have managed to gain some valuable Clients, these have predominantly been through contacts that I have made over the years and are similar in size and capability. To ensure we keep good working relationships I would rather refrain from offering the same services to their competitors to gain in the sort term.

 

There is I believe still a range of other potential Clients out there that to some degree maybe do not know that services are available or do not know who to go to. I'm at the point where I believe in order to grow the company we need to expand our Client base to these firms. There is the option of diversifying our services into other sectors but at this point I think we are better maintaining the core services rather than trying to offer something else. However I'm not sure of the best way of making inroads. I've been doing research on marketing techniques and wondered if anyone here might have any insights or reading material they could share? I'll be honest and say that I'm not great when it comes to cold calling and so far everything we have done has come about through recommendations (except successful tenders). We have recently taken out an ad in an Industry magazine to try and grow our "audience", but how well this goes, I'm not sure. I know advertising is important and part of expanding is going to be letting people know that we are here and what we can do. Does anyone have any ideas on other ways to market baring in mind limited budgets and looking at specific Client base?

 

Lastly I'm not sure if I'm expecting to grow quicker than we are or if I should just keep going the way have so far and let things take their natural course, if there is one. Apologies for the rambling, sometimes I feel it's easier to write this stuff down and review after a while.

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I don't know your industry well enough, but the best tip I can offer is find someone in your industry you want to be like (whoever's making all the $$). and study the crap out of them and what they are doing, how they are doing it, success leaves clues, eventually with enough time and dedication you will make it (even if that means 4 years from now).

 

And if you don't see anyone doing well, then it's never too late to switch business's, I had to do that and it helped me out big time, I ain't gonna get rich selling $5 car washes in a tiny city... (you get the point)

 

 

Also, read "fastlane millionaire" by MJ demarco (also a member here), gets you understanding whats needed in a business to make big $$..

 

 

thats my 2 cents, take it or leave it ;)

 

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