Hi all!
I'd like to hear people's experience of leaving their corporate job to start their own business.
How did you get started?
What were you biggest learnings?
How did you go about advertising your company?
How did you get your first client?
Anything would be much appreciated.
I've been thinking of leaving my job in consulting to start my own business specialising in Robotics Process Automation. I'm quite experienced in this field but have literally no idea where to start.
Yes, just do it, but plan it properly or it will almost certainly fail. You can't ignore the damning numbers for small businesses failing in the first 5 years. It can and does ruin families and friendships.
That doesn't mean don't try, but just make sure you do your research, create plans, forecast different possible scenarios, etc. It isn't that much work considering the risk involved.
isn't a lot of it down to poor accounting?
Quite often its more likely people are way too optimistic on what their sales are going to be and comes up with unrealistic projections for the business
If you need anyone to serve you coffees all day, im your man ;)
I ended up apply for and getting into the NEIS training programming. NEIS is probably not for you, but I ended up with a Cert IV in small (new) business management.
That cert will cover all of the key points to getting a business started. You can attend one online or see if it's offered near you. Prices vary, so look around.
You could also look for a free online course. No cert, but might give a lot of the same info.
Good luck!
Thanks, mate! Never even occurred to me to seek a course.
Appreciate the help.
The course is good providing you get a good group that is available to hand-hold. It'll def be worth your while to do it.
One other thing— do not run your business trying to be the cheapest out there. That, only gets you "cheap" clients. They're the worst!
You decide what you need to make to cover your bills at the start + a bit more to cover your taxes + a tiny extra to make it worthwhile. Divide by the hours you want to put in to find your hourly rate. Beware putting in too many, unpaid after-hours.
There are also pre-made form-packs out there, for AU businesses, for things like contracts, price lists, receipts, work forms, etc. Saves you having to recreate the wheel. They're editable so you just change it out as you see fit. I use an excel template for my income/outgo that adds it all up for me.
Hope it all goes well for you.
~G
Sounds like you are in a niche market so consider where you will get your clients from.
Always charge what makes you happy - At what price is it not worth taking on the work.
Don't do deals - every 'deal' I have made in the last 15 years of being self employed has come back to bite me.
Invest in time saving processes and procedures - It will save you dollars in the long run.
If you need unaccredited small business training online I can help you out.
You need to moonlight your new job while still working as a consultant. Get clients, then slowly scale up. Running your own business shifts your income from guaranteed flat to volatile based on effort. Cashflow becomes critical. You will work harder. You will earn less money. You may end up despising your job. But if you play your cards right and plug away for a few years being your own boss can earn you more money and exponential fulfillment.
Look after your customers and don't rip them off. But don't let them rip you off either.
new endeavors are always exciting and the way to start is to just do it.