How many businesses do you run?

[sussexrob]

Hi Everyone

I was wondering if the majority of you here run one business or have expanded/reinvested/grown into more than one avenue?

Coming from an affiliate background, the eggs in one basket moto rings around the forums a great deal but now I am moving to retail I was wondering if members here have grown to more than one business

It would be great to here some sucess stories..or even a few pointers on what not to do if expanding to quick

Thanks everyone

Rob

 

[Jeff Knows]

Technically you could count it as five, Personally I count it as 1 and 4 hobbies. All varying sizes, They are all ran separately with no connection each other, but with them all being entirely web based it's not too difficult to jump back and forth between them. Sheer volumes of feedback can be a bit overwhelming at times but I enjoy it.

I'm constantly itching to start up and try new ideas though, just a matter of finding the time to do it, so mulling over the idea of creating a parent company and taking a more overseeing role rather than being so involved.

 

[sussexrob]

Cheers Jeff

I can see running more than one being something I will end up doing and seeing things grow... its just when you have an idea and think... ah... i could do that... thats how its happened in the past but obviously the retail side is different but seeing all you guys here is very inspirational.

Working for corporate company at the moment in this day and age is very depressing .. so hopeing to change that , thats for sure

Rob

 

[Esk247]

If anything, I took on too much too soon. I was running a dozen mini-businesses (all balls in the air..so to speak) and you just cannot do it with startups.

A startup is a small creature, it needs nurturing, time and effort to grow. If you have 6 of the darn things all crying for assistance you end up losing a couple

My suggestion to any new entrepreneur is to take it SLOW!

I'm sticking to the two for now, one thats a screaming infant and the other thats a sleeping teenager.

 

[Rufford]

Technically you could count it as five, Personally I count it as 1 and 4 hobbies. All varying sizes, They are all ran separately with no connection each other, but with them all being entirely web based it's not too difficult to jump back and forth between them. Sheer volumes of feedback can be a bit overwhelming at times but I enjoy it.

I'm constantly itching to start up and try new ideas though, just a matter of finding the time to do it, so mulling over the idea of creating a parent company and taking a more overseeing role rather than being so involved.

By businesses I make the assumption you refer to the same with a uppercase "B" and not self-employment which of often incorrectly referred to as a business. Once that's done, to we mean investments or Directorships; assuming the latter two in my case then the answer is three

 

[Drpepper]

By businesses I make the assumption you refer to the same with a uppercase "B" and not self-employment which of often incorrectly referred to as a business. Once that's done, to we mean investments or Directorships; assuming the latter two in my case then the answer is three

So because I'm a sole trader and as such self employed that makes my High Street shop not a business? Just because you are a director doesn't make your "business" more valid than mine. It's very easy and cheap to set up a Ltd company and turn over zero per annum - at least you can call yourself a director though.

Your grammar is terrible by the way, I presume your PA usually writes for you

 

[Rufford]

So because I'm a sole trader and as such self employed that makes my High Street shop not a business? Just because you are a director doesn't make your "business" more valid than mine. It's very easy and cheap to set up a Ltd company and turn over zero per annum - at least you can call yourself a director though.

Your grammar is terrible by the way, I presume your PA usually writes for you

Correct

 

[Drpepper]

Correct

So why do I pay business rates, my staff PAYE/NI and business bank account charges. I'm VAT registered, BUSINESS name and logo are trademarked, 67 trade accounts and carry public liability insurance.

Can I now stop paying all of these as I don't apparently run a business.

I can see though that by buying a LTD company and creating a basic website your business is more credible than mine though

By the way, you are missing a lot of information that is required by law on your website i.e VAT number, contact details, address, company reg number etc. If I'm wrong sorry, but it's not obvious.

 

[Rufford]

So why do I pay business rates, my staff PAYE/NI and business bank account charges. I'm VAT registered, BUSINESS name and logo are trademarked, 67 trade accounts and carry public liability insurance.

Can I now stop paying all of these as I don't apparently run a business.

I can see though that by buying a LTD company and creating a basic website your business is more credible than mine though

No point in getting hot under the coller. I simply point out the "sole trader"; "self employed" names amongst others do not really create any differences in law. They are all describing a person(s) who employ themselves. True they are in business and do business with others but "businesses" in normal parlance refer to independent entities (LTD's) with shareholder(s) or guaranteed partnerships in other words LLP's

I am not being derogatory in any way.

 

[thecyclingartist]

To the original question... I run 2 sole trader businesses, and used to be partner in a 3rd (Ltd Co) business with someone else. Have to say that wasn't my cup of tea as my partner drove me insane! Don't go into business with good friends is all I can say. (we are, fortunately, still good friends after the fact)

Funny, in "normal parlance" my wholesale suppliers, agents and reps, local chamber of commerce and HMRC consider me a business. As a sole trader. Odd. They must all be wrong.

Tina.

 

[ADW]

No point in getting hot under the coller. I simply point out the "sole trader"; "self employed" names amongst others do not really create any differences in law. They are all describing a person(s) who employ themselves. True they are in business and do business with others but "businesses" in normal parlance refer to independent entities (LTD's) with shareholder(s) or guaranteed partnerships in other words LLP's

I am not being derogatory in any way.

B****cks! I'm Ltd and know many Sole Traders who chose to stay that way that are far bigger than me with several million turnover. Call it what you like but to me they are a Business.

"Parlance"..... be far easier if you use normal wording that the masses can understand. Some of us "Business" people aren't that educated

 

I am not being derogatory in any way.

So why mention it.?

You can fool some of the people........................

Earl

 

[movietub]

I started numerous ventures when I was self employed, all under different names and doing different things - but all with one common theme.

Now the business is ltd, and all the ventures (the ones we kept) have been bought into that single company.

Not only because it limits accounts etc, but also there is much cross pollination between them. Sharing between seperate companies requires complicated balancing of assets. But they are run seperatley in many ways.

But this has nothing to do with 'eggs not all in one basket' and everything to do with being passionate and excited about new ideas!

 

[gritbinsales]

grit bin sales
vend 4 me
cleaner gardens
utillity warehouse
lush lawns

 

[sussexrob]

I started numerous ventures when I was self employed, all under different names and doing different things - but all with one common theme.

Now the business is ltd, and all the ventures (the ones we kept) have been bought into that single company.

Not only because it limits accounts etc, but also there is much cross pollination between them. Sharing between seperate companies requires complicated balancing of assets. But they are run seperatley in many ways.

But this has nothing to do with 'eggs not all in one basket' and everything to do with being passionate and excited about new ideas!

Blimey i didnt expect my post to get people so naggy to each other lol gawd! Its coming up to Xmas everyone , be happy

As for running more than one, being passionate and excited about ideas is definatly me. thanks for reply everyone, really great

Rob

 

[Rookery]

I run one business and I'm looking to start up another entirely separate one to run alongside the first. I'm a sole trader too.

 

[oliverbanks]

One at the moment, but I'm only young.

Finishing my studies next march, so I'll have plenty of time to focus on building businesses full time from then onwards.

I'll start using this forum far less often I presume, and work much harder so I don't have time to come on here!