Developing the business....

[Mustang]

I guess ulimately I will hire people - even allowing for the extra work - but I feel that I would like to see some reward by "growing the business". I can start with diversifying but at the end of the day my objective would be to increase revenue. I cant see a way to do that unless I up my rates and that is so tied into the market.

[privateeye]

Thought for the day!

OK, so you're a one man, personal services company. How do you go about growing the business? Does anyone ever think about that? Anyone write a business plan in the true sense of the word? How do people make the leap from going from one contract to the next or are people just content doing that?

Have a great weekend!!

I'm not content with going from one contract to another so spent a long time coming up with business ideas - hence why I also do PI work to break the monotony. I'm also not content working for other people these days, todays work culture is all about getting paid for 7.5 hrs but actually working 10+ and the standard of work has dropped. When I began working in 1976 you worked a 45 hour week and got paid 45hrs and quality was the primary concern - today it is speed. These are the things I plan to break away from. I used to work for bosses that got promoted through the ranks not leave uni straight into project and senior management.

When I finally settled down on one idea I did write a business plan and full specifications and prototypes - and talked to several people about it. It is quite essential to write a plan to get your ideas down come back and read them in fresh light. The business plan enabled me to accurately cost what I was planning to do - so I knew I would not get so far and have to stop running out of money like so many start ups do. It also kept me on track on the requirements front and not get sidelined into other ideas

I now have the product which I know no-one has tried before, it is innovative and above all as enforced in so many business start up guides I have something that solves a business problem that many believe is unsolvable. With something that is new it is far easier to get free press coverage.

I am now at the marketting stage - the most frightenning of all as I begin to present what I have to the world. I should be releasing the press releases during next week.

[NewBoy]

I'm in the process of writing a business plan for expanding the business...the problem with contracting is that it's not that scaleable. My current rate varies between £500 to £750 per day and with what I do thats about as much as I'll ever command. In itself, that salary can give me a pretty good life if I can avoid spending too much time between contracts (resting!).

However, my work/life balance is pretty important to me and it is hard to achieve that as a contractor unless you live near a big city where you can get work locally.

So...I need to put a workforce together and get them to earn me money so that I can sit at home and relax! When you put it down on paper, its all very simple...in practice its a lot tougher.

Going to work alone for the next 12-18 months and I'm going to use that time to line up potential recruits and get my company listed as a trusted supplier with as many bluechips as possible...

Of course it might not go anywhere, but if you don't try you'll never know!

[VectraMan]

What do you mean by growing the business? As a one person personal service company, growing implies taking on employees and is that what you want? The best you can do as a one person personal service company is to keep working at the highest rate you can.

[TheMonkey]

I do research occasionally for people because I have some strange interests and put together a few web sites whenever someone needs something (via the grapevine). Much more interesting than crappy contracts.

I also have some personal research interests which I will be patenting in the future if I can perfect them properly.

I don't want to "grow" the business, just diversify. It's easier to survive industry trends if you have your fingers in different pots.

[Mustang]

Thought for the day!

OK, so you're a one man, personal services company. How do you go about growing the business? Does anyone ever think about that? Anyone write a business plan in the true sense of the word? How do people make the leap from going from one contract to the next or are people just content doing that?

Have a great weekend!!