How did you start your own business up?
28 March 2006, 10:29 AM
#32
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It sounds like an SME concierge type service you describe which has been tried by a lot of big corporates over the years - Banks offering their SME businesses additional services. For various reasons it has not worked. intially there were a number of offerings that were horizontal - i.e. worked across the market irrespective of the type of business they were serving.
As I have also recently set up my own business the only service I can think of that would help me is a travel desk - I simply cannot get good corporate travel rates as I cannot buy into a bulk deal. A concierge could do this for me.
Every other service I arbitrage on the web for the best price so if you are offering packaged services they had better be very good AND good value. I would also be surprised if the majority of SMEs will pay a fee - this is based on working on a number of the corporate services offered by High Street Banks.
There are quite a number of vertical services being offered now - for example offering telephone answering, diary management, sourcing and logistics for specific sectors, e.g. IFAs, Consulting, Coaching. If you want to compete you need to have an edge that the verticals do not have which is more difficult as they are specialists.
Your profit comes from buying stuff for less than you sell it and for me the punter to believe it is a better price than I could have got myself. The convenience thing does not play as you can get pretty much anything on the web nowadays.
Other advice would be to get a great accountant - it will pay you in rich rewards.
I may have misinterpreted what you are planning to do - however it can work but needs research and the right pricing. You are entering waters that have been entered before which does not mean to say it wont work - you just need to find what does work.
Good luck!
As I have also recently set up my own business the only service I can think of that would help me is a travel desk - I simply cannot get good corporate travel rates as I cannot buy into a bulk deal. A concierge could do this for me.
Every other service I arbitrage on the web for the best price so if you are offering packaged services they had better be very good AND good value. I would also be surprised if the majority of SMEs will pay a fee - this is based on working on a number of the corporate services offered by High Street Banks.
There are quite a number of vertical services being offered now - for example offering telephone answering, diary management, sourcing and logistics for specific sectors, e.g. IFAs, Consulting, Coaching. If you want to compete you need to have an edge that the verticals do not have which is more difficult as they are specialists.
Your profit comes from buying stuff for less than you sell it and for me the punter to believe it is a better price than I could have got myself. The convenience thing does not play as you can get pretty much anything on the web nowadays.
Other advice would be to get a great accountant - it will pay you in rich rewards.
I may have misinterpreted what you are planning to do - however it can work but needs research and the right pricing. You are entering waters that have been entered before which does not mean to say it wont work - you just need to find what does work.
Good luck!
28 March 2006, 10:42 AM
#33
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Originally Posted by Dream Weaver
Eh? 
I have a degree in the subject as well, and your sister is talking bollocks (no offense
)
A business is something that makes money, if you continue to make a profit every year regardless of expansion then you're still a business.
I've done 5 years now without expanding, but i'm still increasing turnover each year. I could expand to generate more money, but I dont need to so haven't done thus far.
I have a degree in the subject as well, and your sister is talking bollocks (no offense
)A business is something that makes money, if you continue to make a profit every year regardless of expansion then you're still a business.
I've done 5 years now without expanding, but i'm still increasing turnover each year. I could expand to generate more money, but I dont need to so haven't done thus far.
You're talking bollocks as well, kind of
A business is an entity that trades. Pure and simple, from a sole trader to a PLC and beyond. Whether it makes a profit or a loss, it is still a "business".
28 March 2006, 11:54 AM
#35
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Sorry pedants - OK, I should have re-phrased that - a "successful" business is one that makes money, but my point was you cant say a business is bound to fail just because it doesn't expand each year.
If your kid cleans your car for £5, and then goes and cleans everyone elses car on the street for £5 each weekend then it is a business
I used to do the same at school, but selling blank disks
- OK, I should have re-phrased that - a "successful" business is one that makes money, but my point was you cant say a business is bound to fail just because it doesn't expand each year.If your kid cleans your car for £5, and then goes and cleans everyone elses car on the street for £5 each weekend then it is a business
I used to do the same at school, but selling blank disks
Last edited by Dream Weaver; 28 March 2006 at 01:34 PM.
28 March 2006, 12:44 PM
#36
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Originally Posted by Tiggs
"A business is something that makes money"
my kid cleaning my car for £5 is not a business.
a £10 billion multi-national that posts a loss is still a business.
my kid cleaning my car for £5 is not a business.
a £10 billion multi-national that posts a loss is still a business.
28 March 2006, 01:34 PM
#38
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Sorry Tiggs, forgot we were dealing with the worlds most perfect business man
Obviously dont know what i'm on about having run my own business for 5 years
My original reply was tongue in cheek re the "degree" And my point was aimed at the original post about "no such animal exists" and not business as a whole.
Diablo, do you have some unresolved issues with me, you seem to have a dig at my replies whenever I post anything this past few months??
Tiggs is just arrogant, so i'm used to him.
Obviously dont know what i'm on about having run my own business for 5 years
My original reply was tongue in cheek re the "degree"
And my point was aimed at the original post about "no such animal exists" and not business as a whole.Diablo, do you have some unresolved issues with me, you seem to have a dig at my replies whenever I post anything this past few months??
Tiggs is just arrogant, so i'm used to him.
28 March 2006, 01:43 PM
#40
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Originally Posted by Dream Weaver
Diablo, do you have some unresolved issues with me, you seem to have a dig at my replies whenever I post anything this past few months??
. I have no unresolved issues with anyone, least of all people with whom my only communication is a BBS.Athough I'm goingto have a dig now - don't be an over-sensitive big jessie
Originally Posted by Dream Weaver
Tiggs is just arrogant, so i'm used to him.
Not the word I would have used, but fair comment
DW, you've lost me on this - I don't recall having any digs at you
Last edited by Diablo; 28 March 2006 at 01:48 PM.
28 March 2006, 01:53 PM
#42
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Originally Posted by Diablo
Not at all dude - hence the . I have no unresolved issues with anyone, least of all people with whom my only communication is a BBS.
Athough I'm goingto have a dig now - don't be an over-sensitive big jessie
Not the word I would have used, but fair comment
DW, you've lost me on this - I don't recall having any digs at you
. I have no unresolved issues with anyone, least of all people with whom my only communication is a BBS.Athough I'm goingto have a dig now - don't be an over-sensitive big jessie
Not the word I would have used, but fair comment
DW, you've lost me on this - I don't recall having any digs at you
Too many wind-up merchants on here these days to keep tabs on them
28 March 2006, 01:58 PM
#43
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Originally Posted by matt85
Basically its a logistics idea tailored to catering to the needs of the small growing firm.
Matt
Matt
D
28 March 2006, 02:04 PM
#44
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Originally Posted by Tiggs
if you want to sell planes you will need millions in start up. on the other hand i started my company with a laptop and a note pad and make more money than 99% of folks on here.
28 March 2006, 02:05 PM
#45
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so many people starting up with next to no cash outlay 
cost me around 10k to start up properlly
could have done it much, much cheaper, but at least it was done properlly
and i made it all back within a few months anyway
cost me around 10k to start up properlly
could have done it much, much cheaper, but at least it was done properlly
and i made it all back within a few months anyway
28 March 2006, 03:02 PM
#48
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Originally Posted by Dunk
Laptop & notebook ........thought you were based in Nigeria, how is the closure of your late Uncle's estate going ?
D
D
It is going most well, a great many thanks for your kind questions and blessed be your family.
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