Reply to: New Business Analysts Venture

[NickNick]

9FeetTall brought together a bunch of contractors and used their network of contacts to tout for business.

[kaiser78]

How do you get the initial break when setting up a venture like this - is it merely a case of having to build up a network of contacts, or is it advertising / website etc. How can one get this sort of venture up and running ?

[NickNick]

Nice web-site and it looks like a business - maybe it is.

Businesses have to start somehow!

It is a nice website, isn't it? And yes, no it's run as a business, I beleive that it's run along the same lines as a law firm (with partners etc)

[MPwannadecentincome]

I'd be interested in exploring the PM venture.

+1

[McBainCo]

I do believe that there will be great synergies with PM. Quite a few of the experienced BAs I know have performed some form of PM activities and vice versa.
I shall welcome further discussion.

Thanks also for the suggestion of posting on the Association's forum

[Peter Loew]

I have thought of setting up a similar service from a Project Management angle. I have done some research, planned the website, business model / plan etc and believe it isfeasible.

However the difficulty as with all new start ups is how to break into the market and also finding someone reliable to go in with, as I feel it is not a single person job similar to the BA venture.

There may some mileage in doubling up as a BA/PM joint venture ? Any comments welcome and good luck with the BA venture anyhow.

I'd be interested in exploring the PM venture.

[kaiser78]

I have thought of setting up a similar service from a Project Management angle. I have done some research, planned the website, business model / plan etc and believe it isfeasible.

However the difficulty as with all new start ups is how to break into the market and also finding someone reliable to go in with, as I feel it is not a single person job similar to the BA venture.

There may some mileage in doubling up as a BA/PM joint venture ? Any comments welcome and good luck with the BA venture anyhow.

[ratewhore]

Try posting on the PCG's collaboration forum as well.

[McBainCo]

I am delighted to hear that there is some interest.

I' ll respond to your PM.

Thanks guys

[bullseye]

I'm in for it.

I have sent you a PM McBain

[Denno]

I'd be interested in this.

I've had some experience of freelancing through a network of contacts, carrying out consultancy and development work as needed, direct to the client. The hardest bit was generating new business - IT contractors are not natural salesmen / marketing people IMO!

However, as you say we'd all have contacts (mine are mainly in media / publishing and a few in a big pharma), so could well work.

Agree there may be concerns over trust, but this shouldn't stop something like this getting started.

I don't think it's anything like an Umbrella company in my experience + also think that there's a gap for a specialist BA company.

So, I'm in - is it best if I PM you McBain?

[MPwannadecentincome]

A friend of SWMBO has done pretty much exaclty what you are talking about.
http://www.ninefeettall.com/
And she has had a fair amount of success out of it. Of course I'm not sure of the ins and outs of her business model and it may have changed over the years from what you outlined to something else, but the idea was the same.

Nice web-site and it looks like a business - maybe it is.

Businesses have to start somehow!

[NickNick]

A friend of SWMBO has done pretty much exaclty what you are talking about.
http://www.ninefeettall.com/
And she has had a fair amount of success out of it. Of course I'm not sure of the ins and outs of her business model and it may have changed over the years from what you outlined to something else, but the idea was the same.

[McBainCo]

Many thanks for your advice guys.

Tim, I note your suggestion and I think I shall favour that approach.

Any BA(s) out there interested. I am happy to fund all initial costs, including marketing.

[tim123]

Thanks for your view.


4. Is this an umbrella company? That was not my intention as all the earning are given back to the earner ( less Corporation tax deduction). The contractor will receive his earnings as a basic salary and dividends. All his/her expenses will be used as part of the running of the company.

You cannot pay individuals back exactly their own fee income as dividend payments. Any "bonus" above the minimum payment that everybody gets as dividend to make up the exact amount must be paid PAYE. Of course, this minimum payment should be the amount generated by the lowest fee earner, which could be zero.

If (in order to get the other benefits) you set this up as a marketing group without everyone being shareholders in the same company, you won't be outside IR35 (though obviously each individual contract might be)

On balance, I would go with this latter route. You have more chance of getting people interested.

tim