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starting up a new company from nothing!


leebayliss
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I started out with bugger all. I got made redundant by the big outfit I was working for. I got a redundancy pay out but not much and that was for emergencies as I'd quite literally just signed up for a mortgage the week before. The old man bought me a 4WD and I just hired out trailers as I needed them. When I was happy I had enough work I got a loan from the bank to buy a truck and paid that off 2 years in advance. I did the same with my chipper but paid that off 3 years before the due date. The hardest part is appreciating just how much stuff like depreciation, wear and tear on the gear, new equipment and various un-considered bills takes out of your pocket. Make sure you do your homework first.

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You're tapping into a wealth of experience with your post on here. Maybe FOCUS is important- set yourself targets- say to yourself 'I'm happy to sub to get started but want to have say a truck after 1 year' Then after the year is up check whether you are still happy to go on. If so, set yourself a year 2 target and so on. Also set a long term target- say 2 employees and premises in 5 years. This constant reassessment and reevaluating though it may seem anal is good practice and stops you drifting.

Otherwise just drift but most important- stay happy. It's not the end of the world if you change tack. It's just a different goal. Remember- most people will tell you their way is the right way- well I have to admit I made early mistakes based around not getting 'professional' gear from the start- It made life hard with constant breakdowns and slow progress. Don't make that mistake.

It helps to have good friends/good health/ luck/ a good sales technique/ few enemies/ patience/ loads of energy/ supportive family/ and probably most important- this is unlikely to happen overnight so you've got to have an attitude that can cope with that.

Then again- what do I know:confused1:

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I started with absolutely nothing, just a pickup that I had already. I don't like debt and still don't have any. Everything I've got I just built up over time and added equipment as I could afford it. Check out the one man band thread, there are a lot of people on there doing fine who started with very little.

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I think what i am doing is the best option if you dont want to splash out all the cash at the first post. Freelancing is the way to start with nothing and build it up from there. I am doing it because i dont know if i will be here any more than 1 more year and i dont want to waste all that cash to just move again but it seems the best option to me if you want to start with nothing.

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Actually, a relevant bit of advice given your scenario as a freelancer, is to never poach from employers, act in an underhand manner or burn bridges. It's a small industry.

 

Bosses talk about good people and they talk very fast about bad people.

 

Your behaviour and conduct will define you to your peers as well as to new clients of your own.:thumbup1:

 

Oh, and stay orf my patch!:001_tt2::laugh1:

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