Sonar114

No, it’s a fairly saturated market with terrible leverage.

I started my company before I had kids. Couldn’t imagine doing it now. The early years just take too much time.

There is always a smaller niche that the bigger companies aren’t interested in filling. Apple won’t paint a Pokémon and my name on my new iPhone but there’s a guy at the markets who will.

In service industries the pricing will be fairly commoditised so the margin will have to come from the price of acquisition. If you can get orders for less than what the actual service providers would pay to get them you can profit from the difference.

It costs my company about £25 to acquire a customer so if someone knew how to do it for £10 the could easily charge me £20 and pocket the difference.

The other option is to buy the service in bulk at a lower price and try to then effectively resell them individually at a higher price.

I would happily give you a 10% discount if you were willing to buy 20% of my capacity for the next 12 months. If you then are able to resell all of that for full price you would pocket the difference.

Work hard at school, get a good degree in something like law or business, get a good job, work hard and advance by applying for better paid jobs every 3 years or so.

Starting a company is statistically a very bad way to get rich.

Do you subscribe to the Agile development methodologies? If not, don’t use Agile in your name as it will create expectations.

I wouldn’t call myself Lean Consulting if I was a specialist in large batch manufacturing.

I think your name should give an idea of your core competencies. What sort of IT services do you specialise in?

The problem isn’t your marketing, it’s just that you’re selling a solution to a problem that people might not think they have. Which is always hard.

If cat owners regularly put a screen up for their cats then this would be a great way to do it but I’m not sure many do.

I think it’s a tough sell but if you do want to continue you need to convince people of the benefits of a cat watching a screen first.

Starting a business is a good way for already successful people to leverage their skills and capital to create greater returns on both. It’s not something that will help you if you’re struggling.

Even most successful companies lose money for the first year. Can you afford that? You could have a great business but have to close down before you hit profitability because you’ve run out of cash.

I actually think remote working will make workers less competitive. If companies are force to adapt to full remote working then there’s no reason from them to pick expensive first world staff when there are just as talented people working in India or China.

I run an events company so most of my staff are physically required either onsite or in our warehouse. It’s really only the admin and management staff who could work remotely.

I think it would be terrible for my company’s culture to require the people, who physically do the work, to come in while the managers all sit at home.

Leadership should be from the front.

You need to think of it over a longer time frame. It’s all work for the first couple of years and the allows you to have a lot more “life” once the company is established and you can afford to hire managers.

r/smallbusiness is a lot closer to what you’re looking for.

I think this sub is more a discussion of the “idea” of entrepreneurship than a place to discuss the challenges of running a company.