Everything to consider when starting a business?

[Paddy1000111]

Another good excuse for instant work is that you have a couple of days next week free as a job was completed faster than you planned so you have some free days. 

 

As others have said, invest in an accountant. Mine saved me a 5 figure sum last year in tax that I could have shafted myself for by not knowing what I was doing. There are A LOT of small little claims you can make that add up. If you aren't already then I would suggest being a LTD company, not just are the finances better but you are limiting yourself for liability, if you make a massive cock up you aren't going to lose your house. 

 

Outside of that it's mainly about finance for starting. Saws, climbing gear (Lolered), Van, maybe a chipper, general tooling like pole saws etc. It's a big lump sum to start off. Then you need  a couple of good mates who always need work to help clearing up etc when you need it. 

 

I'm just starting off "going it alone" back in tree work after closing my previous company doing aircraft repair since the aviation market crash due to coronavirus. It was a tough industry anyway and I was flying around the world for it but there's no work there now, tonnes of companies and I didn't want to go bankrupt trying to support something not financially viable. I can't help you on the tree business front as I'm still starting out there but business/company wise I can answer any questions you have on how to go about registering, liability, financial etc. 

[Marc Lewis]

Charge plenty and keep your books in order.

[spudulike]

That last bit is good advice. Many guys are good at a job but rubbish at business. They do the job and them another and another but there is no process to start invoicing and chasing payments. 

A sale isn't a sale without payment in full!!

Many hate the paperwork, I don't care for it but I understand the need to keep the whole business process in order.

[Steve Bullman]

48 minutes ago, spudulike said:

That last bit is good advice. Many guys are good at a job but rubbish at business. They do the job and them another and another but there is no process to start invoicing and chasing payments. 

A sale isn't a sale without payment in full!!

Many hate the paperwork, I don't care for it but I understand the need to keep the whole business process in order.

Spot on.

look at all the big boys. I mean the companies running 10+ teams. You’re probably find they are all run by business men with very little skill when it comes to Actually climbing trees 

[Rough Hewn]

Spot on.
look at all the big boys. I mean the companies running 10+ teams. You’re probably find they are all run by business men with very little skill when it comes to Actually climbing trees 

Some have never even used a saw.

[topchippyles]

Just now, Rough Hewn said:

Some have never even used a saw.

Who is the dull ones us or them ?? Us i should think sometimes 

[spudulike]

I was thinking of a local plumber, loved doing the jobs, never knew who he had worked for, how long it had taken, what materials were used and who had paid. 

Being good and having a skill is just one part of it....a big part but the rest makes it a viable business.

[oldwoodcutter]

There’s enough info, tips, and good advice above that I should think Richard Branson could pick up a few dodges if he ever came onto a/t and read that.

[Paddy1000111]

4 minutes ago, oldwoodcutter said:

There’s enough info, tips, and good advice above that I should think Richard Branson could pick up a few dodges if he ever came onto a/t and read that.

Richard Branson can't run a company for Sh*t. I was running a contract at Flybe (owned by Virgin) when that collapsed. I was there the day before when the chauffeur driven top bosses came to the shop floor saying the company was in dire need, I was in the pub that night watching it collapse and I was there the next day helping guys load their toolboxes up in the car. Luckily I kept ontop of paperwork and bills and made sure I got my ounce of blood. 

[Mike Hill]

Good marketing is more important than being good at the job.You can always get subbies in if you need to.

 

Don't try to impress other tree outfits in your marketing,they are not your clients and the crane jobs are probably the smallest part of what you do.

 

Communicate well with clients,communicate even better with anyone who is unhappy with your  work.

 

Reveiw your advertising strategy as often as you can "How did you hear about us Mrs Smith" on each and every quote.

 

It took me three years to  really fond out how much it cost to run my business.That was 13 years ago.

 

lastly,if it's not what you want after a year or two.Dont be afraid to go back on the books.