Jumping ship

[mattley23]

With the current climate we all know work is tough right now. I was wondering if any business owner out there has just come to a point where they have had enough of the industry they were in and lept into something else?

How did you manage the transition?
Did you retrain or just decide to jump into something else?

 

[estwig]

I don't get all this dome and gloom, we are still honing ways of only getting enquiries from the type of client we want, for the work we enjoy doing.

We get far more enquiries than we can possibly cope with.

The domestic building game, is as busy as ever.

Thought you where moving into loft conversions?? We have, game on!!!

 

[mattley23]

haha, nah its not a thread directed at me at all. Yeah we recently expanded the business to move into other areas of the building trade and its paid off really. Bigger work has come in even though enquiries are not as busy.

A relation has had her business for a number of years and work has dried up, she was thinking of retraining and asked my opinions on what it took to move into another industry as I did years ago.

Just wanted to see if anyone on here has had that experience.

 

[An Oasis]

...A relation has had her business for a number of years and work has dried up, she was thinking of retraining and asked my opinions on what it took to move into another industry as I did years ago...

Just wanted to see if anyone on here has had that experience.

I'm sure many people on the forum have retrained. If work is slow at present, then it's a good time to take the plunge.

 

[U9Design]

I got laid off from my job, so started my online design business. 2 inquiries so far, no sales.

 

[SFD]

I got laid off from my job, so started my online design business. 2 inquiries so far, no sales.

What might be putting people off is the links on your website are just affiliate links to overseas design companies.

 

[Russ Hagger]

I have always thought that life is about adapting to or creating changes.

If things are not right, and you feel that it's not a temporary situation, then think about alternatives. If there is a need to retrain, then do it (if possible). Don't be afraid of change - it's as good as a rest remember.

 

[Russ Hagger]

U9 Design.

SFD's right. I wouldn't think of making a serious enquiry. You are offering a web design service, but have a terrible web site.

There is nothing to demonstrate that you can design an effective web site.

Go back to basics, and put yourself in your potential client's position. Why should he use you?

 

[CKG]

I jacked in my domestic plumbing & heating business about 12 months ago. I Just got fed up with the industry the people in it and the punters.

I decided to set up a new business providing emergency repairs for commercial catering equipment in pubs, restaurants and hotels.

I'd no experience in the area at all. I just jumped in with 2 feet and learnt on the job. A bit scary at first but being a bright lad I soon got my head around it all.

Best move I've ever made.

 

[Beachcomber]

I've just canned my main buisness of 6 years - painful but necessary as I could see things getting worse and was not prepared to flog a dead horse for the sake of it.

Currenly looking for the next big thing!

 

[James.Dunford]

Yes i have, only in a small way though! I sold F1 merchandise, and now sell Flying toys, quite different

 

[lockie]

I was a shoe repairer for many years which is where i got into the locks side of things more via key cutting.Tried to get into the locksmith trade (yes i know the pun is there) but couldnt as a closed shop back then so i became a train driver on the underground. Got bored silly doing that so retrained as a locksmith and set up my company.

You can do anything in life, within reason, if you have some natural ability for the subject and the passion to succeed. Enjoying it is half the battle. Im now learning stock trading as my latest challenge and loving it.

Tell your friend to go for it, you can only regret the things you havent done, the rest is just a learning curve.

 

[Moneyman]

I have had to drop 3 out of my 13 companies this year. Put 27 people out of work. It hurts, but some others are doing well and i have hired at least 15 new people this year alone. Dont think because things are going well now that it is anything but luck. keep cautious. you might just be on a different point of the business cycle.
The problem on one company is this. Last year sales are at a record...what recession? you go to a show last month and suddenly nobody is taking orders. just dead. all rivals are just twiddling their thumbs. 85% drop across market. Good product already selling to all possible buyers. what do you do?

answer: close down, hide under covers and spend time on rescue package. you can die a death of a thousand cuts and slowly lose say £10k per month for the next year or so, or you still get the £100k and get all soldiers in a row for relaunch when market picks up. anyone who has been through a liquidation knows how much it hurts.(i have nearly hit 10) but par for the course in early stage finance)). but at least you get to start again. Many rivals will still be alive when things pick up. but they probably wont have the money to spend on marketing secondly they will probably have had supply trouble and have a damaged reputation. you will instead be a new company with all the knowlege and none of the baggage.

it hurts to go down, but try to have something left when you do. Yes you can fight like mad but be honest. is there really a chance? Business failure is just that. try not to let it be personal. A business is not for life, it is just a tool to work with.

 

[mattley23]

Im now learning stock trading as my latest challenge and loving it.


.

Interetsing! hows that workiong out for you and how are you learning, purely self tought?

 

[SFD]

it hurts to go down, but try to have something left when you do. Yes you can fight like mad but be honest. is there really a chance? Business failure is just that. try not to let it be personal. A business is not for life, it is just a tool to work with.

That's a good post Moneyman.

My Dad was guilty of fighting to the end when his business went under. He also named the business after himself so took everything very personally and is still struggling with it 7 years on.

 

[lockie]

Interetsing! hows that workiong out for you and how are you learning, purely self tought?

Not self taught, attended a course,wouldnt teach yourself to drive would you ? So far so good but still only virtual trading as i learn the ropes.Only looking at consistent small returns of between 3-10% per month as per the strategy ive learned.

This is a longterm thing as another income stream that isnt directly swapping time for money.

 

[tony84]

i look after companies in my job and the bady run companies, or companies who didnt have enough clients on their books have gone under, the ones which are left are either manageing to tread water for the time being or starting to thrive as everyone else has gone under.

If your still afloat now my thinking is you should be able to at the very least stay afloat until things pick up.

 

[Big J]

do you get much work from your website matt?

 

[mattley23]

do you get much work from your website matt?

Yeah i seem to get a fair bit from our website which im pleased about. I find alot of people get our name from either recomendation, seeing the vans drive past or seeing one of our adverts then click onto the website to check us out. Also a good amount pick us up from purely search engines.

I think its the natural progression of the way people have started to investigate builders before speaking to them. Alot seem to like doing a bit of research on the company before getting them round to quote.