Trying To Start My Own Business

[samnaffy]

Dear all.

I want to start my own business. well, get my own work as that is definatly where the money is but i want to go about it the correct way.

I have been in the security industry for 3.5 years covering all aspects but mainly intruder. i have got a business name and had some business cards made but not sure whether i have to register the name first before i hand them out.

Secondly, i would like some sort of acreditation (ssaib, nsi) but i believe that there are a lot of rules n regs to go by for that and money.

Would i be best of just handing out my cards, try and get some work, build up my capital and clientel then apply for ssaib or nsi.

Finally as i have never had to deal with office side only installation would i need to be an approved installer before getting my customers monitored via an arc??

Any answers and as much help with how others had gone about it would be greatly appreciated.

Many thanks sam.

[lawandorder]

Dear all.

I want to start my own business. well, get my own work as that is definatly where the money is but i want to go about it the correct way.

I have been in the security industry for 3.5 years covering all aspects but mainly intruder. i have got a business name and had some business cards made but not sure whether i have to register the name first before i hand them out.

Secondly, i would like some sort of acreditation (ssaib, nsi) but i believe that there are a lot of rules n regs to go by for that and money.

Would i be best of just handing out my cards, try and get some work, build up my capital and clientel then apply for ssaib or nsi.

Finally as i have never had to deal with office side only installation would i need to be an approved installer before getting my customers monitored via an arc??

Any answers and as much help with how others had gone about it would be greatly appreciated.

Many thanks sam.

Best advice I could offer (apart from don't do it) is start as you mean to go on.

Get good administration systems in place, administration and financial accounting are critical for all sorts of reasons.

Many excellent engineers fail in business not because they can't install a good job but because they haven't got a clue about sales and administration.

Approach the banks, many of them offer lots of good and free advice for business start ups.

[samnaffy]

so you mean i will be best of just doing as many pj's as posible?

[lawandorder]

so you mean i will be best of just doing as many pj's as posible?

That's not exactly what I meant though that's how I started. I was always getting asked to do private jobs (I worked for a large national at the time and they didn't really do average domestics).

Once I decided to go on my own I spent about a year doing all my jobs with a written spec and I started to keep proper client files and started doing the books as well.

I was also lucky enough to be offered a lot of subby work with another company, I worked for them 2-3 days per week until I was in a position to rely entirely on my own work.

Don't underestimate the value of maintenance agreements, remember, if you don't sign them up, if you fit 100 systems in year 1 (highly unlikely) and gross 20k you will have to fit another 100 systems in year 2 to achieve the same turnover. You need recurring revenue which can be quantified.

Having customers on contract adds value to your company and gives you something to sell if you ever want to, without contracts your business is effectively worthless to anybody except you.

[hpotter]

Best advice I could offer (apart from don't do it) is start as you mean to go on.

so you mean i will be best of just doing as many pj's as posible?

LOL. get out of that lawandorder.

Drat: beat be.

[lawandorder]

LOL. get out of that lawandorder.

Drat: beat be.

LOL

To be honest I would be reluctant to start a business in today's climate but I don't like to appear negative, lots of people tried to put me off back in the early 90s but I did very well out of it. I never got rich but I certainly earned a lot more than I earnt with large national.

Trouble is some people (and I'm not suggesting the OP is one of them) think that because they are a good engineer/joiner/plumber/spark they can run a succesful business. Sadly it's not that simple.

[hpotter]

LOL

To be honest I would be reluctant to start a business in today's climate but I don't like to appear negative, lots of people tried to put me off back in the early 90s but I did very well out of it. I never got rich but I certainly earned a lot more than I earnt with large national.

Trouble is some people (and I'm not suggesting the OP is one of them) think that because they are a good engineer/joiner/plumber/spark they can run a succesful business. Sadly it's not that simple.

Too right, good on yer.

Personally think the hardest bit to put into

[LDM]

Dear all.

I want to start my own business. well, get my own work as that is definatly where the money is but i want to go about it the correct way.

I have been in the security industry for 3.5 years covering all aspects but mainly intruder. i have got a business name and had some business cards made but not sure whether i have to register the name first before i hand them out.

Secondly, i would like some sort of acreditation (ssaib, nsi) but i believe that there are a lot of rules n regs to go by for that and money.

Would i be best of just handing out my cards, try and get some work, build up my capital and clientel then apply for ssaib or nsi.

Finally as i have never had to deal with office side only installation would i need to be an approved installer before getting my customers monitored via an arc??

Any answers and as much help with how others had gone about it would be greatly appreciated.

Many thanks sam.

Hi Sam. I wish all the best luck and don't like to sound negative but this really is not the best time my friend, as work is on rasions at the moment. The best advise I'd give is leave it 12 months because this recession will not last for ever. If you need any advise feel free to contact. Good luck

[A-G]

Sam, with the level of knowledge you've displayed in your opening post, you clearly don't have enough knowledge to start a business. If you're going to do it you need to get serious advice and take a long time about it.

90% of new businesses fail within 18 months because guys are brilliant joiners, terrific electricians, fantastic motor mechanics ....... but appalling at admin, business craft & marketing skills ...... and they only find out how bad they are when they're deep in debt or their marriage is collapsing.

[whistle]

Sam, with the level of knowledge you've displayed in your opening post, you clearly don't have enough knowledge to start a business. If you're going to do it you need to get serious advice and take a long time about it.

90% of new businesses fail within 18 months because guys are brilliant joiners, terrific electricians, fantastic motor mechanics ....... but appalling at admin, business craft & marketing skills ...... and they only find out how bad they are when they're deep in debt or their marriage is collapsing.

!00% Agreed get ready for a 8 hour day installing then an hour for tea then 2-3 hours in the office 5 days a week, then most of the weekend doing more paper work and on call every day for a good few years. But you cant beat working for your self.

I finished at a National 3 years ago as a service engineer (15 years) to start on my own, Now employ 5 people, trust me its a lot of hard work to make it work.

All the best of luck

[samnaffy]

thanks fot all yor advice. I defo think i will just do private jobs and stick with my company, lol. Then i havent got to worry about all that admin s**t!!

[justin]

thanks fot all yor advice. I defo think i will just do private jobs and stick with my company, lol. Then i havent got to worry about all that admin s**t!!

Surely you still have to do a little admin work for your private jobs though, as I would assume it is a taxable income?

[lawandorder]

Surely you still have to do a little admin work for your private jobs though, as I would assume it is a taxable income?

Yeah right!!! LOL

[hpotter]

thanks fot all yor advice. I defo think i will just do private jobs and stick with my company, lol. Then i havent got to worry about all that admin s**t!!

Nor bother with risk assessments, system grading, SDP's, Mains test certs, prof insurance, keyholders & reg forms, commissioning & as fitted docs, breakdown & RM sheets.

And you can fit any gear you like/can get hold of, make life easy for you customers by choosing non EN stuff, dont bother with 24hr call out, fsl, changing batts.

And keep all the money for youself.

[lawandorder]

Nor bother with risk assessments, system grading, SDP's, Mains test certs, prof insurance, keyholders & reg forms, commissioning & as fitted docs, breakdown & RM sheets.

And you can fit any gear you like/can get hold of, make life easy for you customers by choosing non EN stuff, dont bother with 24hr call out, fsl, changing batts.

And keep all the money for youself.

Blimey Hpotter, you make it sound that good I might try it myself! lol

[Guest old-hand]

Blimey Hpotter, you make it sound that good I might try it myself! lol

[hpotter]

Blimey Hpotter, you make it sound that good I might try it myself! lol

Does make you think why we bother.

[A-G]

Does make you think why we bother.

... cos if we do it the way you outlined above, sooner or later it'll come back to bite you.

[hpotter]

... cos if we do it the way you outlined above, sooner or later it'll come back to bite you.

Sure, cos we bona fide firms.

But sure we all know a few peeps out there doing it one of the "other" ways as above n doing ok.

The other "other" way, well I got asked today if we could service a 1yo alarm fitted for elderly gent who paid

[samnaffy]

cor blimey!! give me a chance. i aint even done any private work to start dealing with the taxman!! Wish i had never asked now, lol.

[hpotter]

cor blimey!! give me a chance. i aint even done any private work to start dealing with the taxman!! Wish i had never asked now, lol.

lol.

Reckon quite a few on here started your way.

[DirectFS]

Sam

As most people here have already said, there's a world of difference between doing PJ's at the weekend, and running a business. And it is the running the business bit that most fail at - not the "what the business does".

I would disagree with some of the other posters here - I think any time is a good time to start a business - so long as you have a solid plan, a brilliant idea, and the commitment to see it through. At the moment, I foresee a lot of big companies divesting work, and even whole business arms, because they are too big to make it work at a profit, and too answerable to shareholders who must see a profit - small businesses don't always have those issues, and are in prime position to capitalise on big companies failing.

The "money" can be in your own business, but only if you look after it - and often not for the first few years of trading. Can you put up with not having holidays abroad for a year or two - both for financial reasons and because you have to be around to look after your customers when their alarm activates?

The next piece of advice - keep it simple. You say your experience is in intruder - so stick to those for now, with kit you know, and in a way you can rely on. Get some experience under your belt before thinking you can take on all systems any time. Build up your core business in intruder alarms, and develop that, with maintenance contracts first. Get a good name doing them right, at the right price.

As for accreditation, you will likely need at least a year's worth of trading, a good few dozen installed (and maintained( systems, and a good indication that you are on the way to ISO9001 certification, or can implement it within a timescale. You will also need, as a minimum, a hard copy of any British Standards, or European Norms you claim to work to. You will also be required to be SSAIB or NSI approved before an ARC will connect your customers, or pass signals to police.

As for administration - it is key - this is the "running the business", as opposed to "what the business does" - so I'd suggest, before you hand out your cards, visit either a Learn Direct, or a local Business Link, and see what sort of courses you can get covering basic accounting and bookkeeping, letter writing, invoicing, reports(specifications), and so forth. They needn't be super brilliant, but they do have to be professional, and well presented. Invest, absolutely, in a spell checker if your word processor doesn't have one. Sales have been lost on misspelt words or less before now.

All that said, there is no harm in you beginning to build a business through private work, many have. Develop your business with each job, practicing writing specs, doing the readings, recording them, handover paperwork, and issuing an invoice (and recording what you charged/spent/etc). Don't forget, any income you earn should be advised to the tax man, of course.........

Another avenue is to explore the potential of sub contract work alongside your own - it may keep the wolf from the door, but again you will need to have certain things in place, such as liability insurance (in any case), efficacy cover, good idea to get yourself vetted (Disclosure Scotland) to save time with new companies, CSCS card, and a good set of tools. Nothing worse than a sub contractor asking his employer for tools - it happens, and shouldn't.

I suppose, if you're rich enough, it might be an idea either to find a consultant who would be willing to help you build up a business plan and viability test it, and who may also put an "office" system in place with you, or even a partner of some type with the experience you lack.

Bill.

Dear all.

I want to start my own business. well, get my own work as that is definatly where the money is but i want to go about it the correct way.

I have been in the security industry for 3.5 years covering all aspects but mainly intruder. i have got a business name and had some business cards made but not sure whether i have to register the name first before i hand them out.

Secondly, i would like some sort of acreditation (ssaib, nsi) but i believe that there are a lot of rules n regs to go by for that and money.

Would i be best of just handing out my cards, try and get some work, build up my capital and clientel then apply for ssaib or nsi.

Finally as i have never had to deal with office side only installation would i need to be an approved installer before getting my customers monitored via an arc??

Any answers and as much help with how others had gone about it would be greatly appreciated.

Many thanks sam.

[whistle]

Sam

As most people here have already said, there's a world of difference between doing PJ's at the weekend, and running a business. And it is the running the business bit that most fail at - not the "what the business does".

I would disagree with some of the other posters here - I think any time is a good time to start a business - so long as you have a solid plan, a brilliant idea, and the commitment to see it through. At the moment, I foresee a lot of big companies divesting work, and even whole business arms, because they are too big to make it work at a profit, and too answerable to shareholders who must see a profit - small businesses don't always have those issues, and are in prime position to capitalise on big companies failing.

The "money" can be in your own business, but only if you look after it - and often not for the first few years of trading. Can you put up with not having holidays abroad for a year or two - both for financial reasons and because you have to be around to look after your customers when their alarm activates?

The next piece of advice - keep it simple. You say your experience is in intruder - so stick to those for now, with kit you know, and in a way you can rely on. Get some experience under your belt before thinking you can take on all systems any time. Build up your core business in intruder alarms, and develop that, with maintenance contracts first. Get a good name doing them right, at the right price.

As for accreditation, you will likely need at least a year's worth of trading, a good few dozen installed (and maintained( systems, and a good indication that you are on the way to ISO9001 certification, or can implement it within a timescale. You will also need, as a minimum, a hard copy of any British Standards, or European Norms you claim to work to. You will also be required to be SSAIB or NSI approved before an ARC will connect your customers, or pass signals to police.

As for administration - it is key - this is the "running the business", as opposed to "what the business does" - so I'd suggest, before you hand out your cards, visit either a Learn Direct, or a local Business Link, and see what sort of courses you can get covering basic accounting and bookkeeping, letter writing, invoicing, reports(specifications), and so forth. They needn't be super brilliant, but they do have to be professional, and well presented. Invest, absolutely, in a spell checker if your word processor doesn't have one. Sales have been lost on misspelt words or less before now.

All that said, there is no harm in you beginning to build a business through private work, many have. Develop your business with each job, practicing writing specs, doing the readings, recording them, handover paperwork, and issuing an invoice (and recording what you charged/spent/etc). Don't forget, any income you earn should be advised to the tax man, of course.........

Another avenue is to explore the potential of sub contract work alongside your own - it may keep the wolf from the door, but again you will need to have certain things in place, such as liability insurance (in any case), efficacy cover, good idea to get yourself vetted (Disclosure Scotland) to save time with new companies, CSCS card, and a good set of tools. Nothing worse than a sub contractor asking his employer for tools - it happens, and shouldn't.

I suppose, if you're rich enough, it might be an idea either to find a consultant who would be willing to help you build up a business plan and viability test it, and who may also put an "office" system in place with you, or even a partner of some type with the experience you lack.

Bill.

100% Agree with you on all the above.

[lawandorder]

100% Agree with you on all the above.

Me too, an informative well written post.

[Guest RJBsec]

99% - for a new sole trader ISO 9001 is neither necessary nor beneficial, IMO should only be contemplated by a well established company with a number of engineers and a good work base.