Business options

[gh05]

Recently found out that I'm highly likely to be made redundant in the new year - so I'm desperately looking for business/self employed ideas without much luck so far.

My question is quite general - basically is there money to be made out there in this economic climate or am I better off just looking for another job? At the start of this year I was considering looking into importing and selling products but when i went travelling to Asia I met a business man there who basically said not to bother because it's such a difficult way of making any money (i.e. if a product is really in demand then the big stores will find a way of getting it)

My job was very specific and my transferable skills aren't really that great - also i want a change of scenery anyway.

thanks

 

[Psl]

Depends if you want ot invest in your own future or not? What are you skills?

 

[gh05]

Depends if you want ot invest in your own future or not? What are you skills?

my skills are pretty technical to be honest - my job is with IT/web....I have a computing degree and a law diploma. I want to move away from the technical stuff though really. I am good with people and a good communicator provided that i am comfortable with my subject.

i've alays been very interested in business but i am stuck on what to do.

do you think that there is potential in importing?

 

[matt seymour]

my skills are pretty technical to be honest - my job is with IT/web....I have a computing degree and a law diploma. I want to move away from the technical stuff though really. I am good with people and a good communicator provided that i am comfortable with my subject.

i've alays been very interested in business but i am stuck on what to do.

do you think that there is potential in importing?

Find the right product at the right time and there will always be money in importing, but it's not something I would recommend to a complete novice in the current climate.

My advice would be to stick to what you know for the timebeing unless you have a lot of money behind you and time to learn a whole new set of skills.

Perhaps set up on your own offering IT services to the public and small businesses? I've had people out to fix my computers in the past and they charged a pretty hefty wedge of cash for doing so. However, if like me, they are not great with PCs, people would much rather have their computer looked at by a bloke from the Yellow Pages than take it into somewhere like PC World and pay through the nose.

Small businesses will always need IT help as well.

 

[gh05]

Find the right product at the right time and there will always be money in importing, but it's not something I would recommend to a complete novice in the current climate.

My advice would be to stick to what you know for the timebeing unless you have a lot of money behind you and time to learn a whole new set of skills.

Perhaps set up on your own offering IT services to the public and small businesses? I've had people out to fix my computers in the past and they charged a pretty hefty wedge of cash for doing so. However, if like me, they are not great with PCs, people would much rather have their computer looked at by a bloke from the Yellow Pages than take it into somewhere like PC World and pay through the nose.

Small businesses will always need IT help as well.

Thanks.

I was looking into PC repair stuff until I started researching it and read things like the thread below:

http://forums.moneysavingexpert.com/showthread.php?t=701077&page=4

basically there seem to be many people who 'used to do it' until they realised that there was only pocket money to be made and the hassle was too much. The general consensus I got was that people are more than happy to pay good money to fix a car or a washing machine, but when it is a PC they expect you to come out and spend hours clearing off a virus for next to nothing at all and then when something goes wrong two weeks later then they try to claim that it is a similar problem that you didn't fix properly in the first place.

If it comes down to it and I can't find another job then maybe I will have to try it - but it doesn't really appeal to me to be honest.

 

[gh05]

You say you have a computing degree and a law diploma. But you want to start importing, how much do you actually know about importing?. Also how much money do you have to invest?. Dont actually answer the money bit, but just know that you will need a fair amount to make it worthwhile. What are your actual skills?

Money - you said not to answer but I will anyway. Few K at the most. Not a great deal. I wasn't sure if I start off small just to learn the processes and then perhaps get more serious later.

Knowledge of importing - Nothing but the basics. I recently travelled around the world and I found it really interesting to go to some cities/countries where everything produced was for export, but frustrating that I did't know enough about it to get involved.

The job I've worked in for the last 3-4 years has been very generic....in local government: line management, IT etc....I have a fairly good understand of computing/most things technical however because I haven't been employed as a web developer for example or anything specific then my skills in any one technical area are not up to date or strong enough to use in a business sense. That's why I'm struggling I suppose. I wish I'd just learnt a trade when I was younger instead of going to uni so that I could at least do that on a self employed basis if needed like a friend I have who lost his job as a plumber so was able to just start his own business. I'm still relatively young (late 20's) and just keen to learn anything that I can to be my own boss...just a bit sick of always worrying if I will have a job the next week.

 

[Scottie22]

Well if you wish to set up a new venture, you'll also have to keep in mind the gestation period...sometimes it may take years to break even and make a profit...

 

[gh05]

Well if you wish to set up a new venture, you'll also have to keep in mind the gestation period...sometimes it may take years to break even and make a profit...

Yep, I know...Was thinking I could find a more temporary or part time job alongside just to keep me ticking over in the meantime. Working hard or long hours is not an issue at all for me - I just want to have the right idea that I know I can get somewhere with if I put in the effort.