Small Business Advice

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Originally Posted by Iain

Make sure you have about a years pay for yourself and don't expect to make a fortune from day one, a lot come undone who are not prepared for little or no inco,e for a few months.

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Probably the most sensible advice given on this. You will probably not make any money during your first year so do plan for this.
Being your own boss is wonderful but it still brings pressure to bear, the main thing being the lack of a guaranteed monthly income. You will have the occasional panic attacks about this but if you are committed to the life change and truly beleive in your own ability to succeed then things usually work out for you.
Do not play at this, but give it everything you've got particularly during the first year and dont assume that becaues you may know lots of people/contacts that work will automatically fall your way...it wont,,,you will have to earn the respect. trust and credibility of potential clients.
After your first paycheque, you will feel its all been worth it and your confidence levels will go through the roof.
Be prepared to work all hours and weekends as you establish the business, something you will actually enjoy because its for you.
Its a great life and you will feel that for the first time, you are doing something that is meaningfull.
Good luck with the venture and be happy.
beejay1

http://community.webshots.com/user/eunos9

Quote:

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Originally Posted by aeg20boat

.....all seemed to speak a different dialect.

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Adam, youre going to have major problems if you ever plan a holiday in New Zealand.

Not sure how qualified I am to post here, but anyway.

I went from a regular income on the tools as a sparky to coming here with no garanteed job, and not really knowing anyone. Loooong story, and I don't tell it very often so you might have to keep on waiting.

As it turned out, it was the worst thing I have ever done, but at the very same time the best thing I have ever done, and probably ever will do.

Worst, because I now know what it's like to be stone broke. Try living off $600 a month for over a year, and do it in the most expensive country on the planet. I wish you good luck if you want to try because I wouldn't wish it on anyone. Well, maybe some people...

Circumstances changed somewhat (no details thanks!) and I went from hand to foot to being dumped into my own 'business' of sorts. Luckily, I seem to just swim rather than sink. Not breaking records, just stay moving.

Which is what I am doing now. I work a grand total of 21 hours regularly each week. Nothing spectacular, but it's enough to keep ticking. At the same time, I don't think I am doing any worse right now than when I was a sparky, everything considered. I'd like to be doing better, but I'm not right now and I can live with it. Also working out how I can sell stuff made from wood over here. Seems I might be able to cut my own little niche in that here, which is nice.

Anyway, what I have learned is...

You can't please everyone. If someone is not going to buy, then don't get all broken up about it. At first I was very annoyed that someone would imply interest, then walk. Now I just don't care. Lots more important things to think about that apparent lost opportunities.

There is a market for you. What I do is teach conversational English here. There are at least 30 different 'schools' in this town/city of just over 200,000. The market isn't that big, but most of us do ok even competing with 'schools' who have monthly advertising budgets greater than most of our yearly incomes. Whatever you do, if you do it well, you will have a market.

Be realistic. I always threaten to increase my fees, but I have not yet. Maybe next year. ;) I know that if I did increase them for extra income, that I would prolly still come out about the same. I would lose some students, which would offset any benefit of the fee increase. Again, this boils down to how good you are at what you do. If you can charge the big bucks and do well at it, then go for it. If not, don't sell yourself short because it's only going to cut your own throat.

Whatever comes in, make sure you cover the unavoidable expenses before anything else. Rent, utilities, etc. You have to have somewhere to work from and to live, and you gotta eat. With plenty of cash around (especially here) it's always tempting to buy whatever you want to. Do it when you know you can afford it, not when you have a fist full of cash.

When it comes to the tax department, don't try and be too smart for your own good. Sure, there are a lot of ways to dodge it, but get caught and you are going to be in a lot of trouble. Also, if you happen to make a killing and they think it suspicious, they will unleash the dogs. Plenty of guys I know here are hamstrung, simply because they hid it all at the start, and if they take on some things now, the tax office will start asking questions. I was honest from the start, and if I do well, I'll be safe. Only other guy I know who was honest from the get go here makes well into 6 figures, US dollars... Also helps here as my tax bill was just over $400 last year. :D

And lastly, don't be scared to ask questions when you don't know. If the questions cost a little cash to be answered, then so be it. There will be things that come up that you can't answer and you are going to have to find a solution. Be ready for it, rather than running around in circles flapping your arms.

Go for it.

And good luck. :)

Schtoo,

Mate! it sounds as if you are doing it the hard way, but persevering anyway.

Good luck to you, and I really hope that it all comes good for you!

Cheers!

hi all

Sorry I havent logged back in Ive been up at Cradle Mountain in the snow.

Thanks very much for all your input.....now its worse than ever cause I was expecting everyone to be negative;).

I am going to give it a go.

Age20boat, thats amazing that you had such a poor visit down here. I wasnt born here so have no real allegence to the place (the first of mums ancestors came to here in 1855) and your experience seems different to most. There is an underswell of bogans in some suburbs so you must have visited on Bogan Day. Need to cancel that one!. most people are really great, a bit like mainlanders twenty years ago.

I actually got hurt working in Canberra and am on a transfer down here for 2 years. I am not with Tasmania Police and have found Taspol to be pretty good but are probably not as compassionate as some forces out there). (okay a greeny for the first to work out who I work for!:) (for a little while yet))

So thanks everyone!

cheers

dazzler