Been thinking of this for a while now. I'm an electrician and for a while now iv been working non stop on jobs for myself after work and at weekends. Looking for any advice on starting out myself is it a good time to take the chance or am I better just keeping going as I am the now.

I'm my own boss as well as being employed full-time and I can relate to your position, mate. Even though there's a recession on (still!), I think now's as good a time as any to take the plunge!

 

All I'll say is if you need any advice on the tax side of things (self assessment and what's claimable as an expense, etc), then drop me a line as I can offer any amounts of advice on that front. :thumbup1:

Always better to work for yourself with a few simple rules.

 

Get a good accountant

 

Make sure you always deliver as you are always only as good as your last job

 

Manage your customers expectations if you're busy so you don't make promises you can't keep

 

If the work grows and grows the hardest decision is do you take on someone else and then someone else etc You could find that you're running the business and not DOING the business if you see what I mean

 

Finally Good Luck if you do it !

Always better to work for yourself with a few simple rules.

 

Get a good accountant

 

Make sure you always deliver as you are always only as good as your last job

 

Manage your customers expectations if you're busy so you don't make promises you can't keep

 

If the work grows and grows the hardest decision is do you take on someone else and then someone else etc You could find that you're running the business and not DOING the business if you see what I mean

 

Finally Good Luck if you do it !

Top advice.

Surpisingly many self employed people fail at all these points.

 

they get a "cheap" non qualified "bookkeeper"

they promise everything to everyone for fear of missing out on a job

And totally fail to manage client expectations,

Thought you were going to try the USA bud?

Was Canada but that's been put off now with having my wee girl and my mum and dad aren't keeping to well. Never saying we will never do it but a lot of things against that the now

As for managing jobs ect I'm already doing that everything goes through my wife iv got that much jobs in the now that iv got a diary. Think I'm just worried about taking the step. Wouldn't be till next year around the start of the financial year. That way I can put some cash away get a van ect the basic start up stuff

Always better to work for yourself with a few simple rules.

 

Get a good accountant

 

Make sure you always deliver as you are always only as good as your last job

 

Manage your customers expectations if you're busy so you don't make promises you can't keep

 

If the work grows and grows the hardest decision is do you take on someone else and then someone else etc You could find that you're running the business and not DOING the business if you see what I mean

 

Finally Good Luck if you do it !

 

What Tony said.

 

I recently went self employed and just learnt one of these the hard way, im currently bogged under with work, im wanted in 6 different places at the same time and EVERY job I am doing is en-curing alot of extra work which sets me back. I made a decision a few weeks ago to refuse all work offered to me until I am up to date as people don't like waiting. Gets mega stressful and I hate letting people down and refuse to rush work as it will be sub-standard and as Tony said 'you're only as good as your last job'. Another issue im facing is taking on a labourer. I can't find anyone reliable and trustworthy. I can't take morons into customers houses as im responsible for them and the last one I had managed to turn up for 3 days out of two and a half weeks due to illness, bless him. The other thing that I didn't think would be an issue is I miss the banter with the lads that I don't get working by myself.

 

Good luck if you go ahead with it, but personally I would just emigrate:thumbup1:

As for managing jobs ect I'm already doing that everything goes through my wife iv got that much jobs in the now that iv got a diary. Think I'm just worried about taking the step. Wouldn't be till next year around the start of the financial year. That way I can put some cash away get a van ect the basic start up stuff

 

expect 7 day week and finnishing when you go to sleep at night...ive been self-employed for 36 years now,very stressfull at times but personaly ide say go for it. Remember to try keep under the radar for as long as you can with regards to your earnings, as much as it sounds great to family and friends boasting about 10 guys working for you and churning 100K a year over to your acountant at the end of the day my motto is "turnover low and earn high" if you know what i mean;)

Good advice from th others above! I went self employed about 4 years ago and I reckon I do a third less work now for much more money. Also the flexibility and time off, as and when is great. I admit that I do burn the midnight oil when needed but its on my own terms and I love it.

No more getting dirty looks when you get in 10 minutes late and as much holiday as you can afford.

 

I would recommend to everybody although many would not take the plunge...

If only I had known, literally waiting on an electrician as I type!!!

ive also been considering this for a while but in my line of work just getting the jobs is hard enough, tendering, pricing and how to approach clients is over my head at the moment as my office keeps their methods well under raps for fear of people like me taking business off of them. ill just have to wangle my way into sales for a year to "scope it out" lol

ive also been considering this for a while but in my line of work just getting the jobs is hard enough, tendering, pricing and how to approach clients is over my head at the moment as my office keeps their methods well under raps for fear of people like me taking business off of them. ill just have to wangle my way into sales for a year to "scope it out" lol

 

what you in to

im a lift engineer

im a lift engineer

 

good trade but its too up and down for me...how many times you heard that one:laugh:

ahh i dont know its a pretty uplifting trade to get into

ahh i dont know its a pretty uplifting trade to get into

 

I think it's one of them trades that once you get into it and push the right buttons, you can make it to the top level and really know that you've made it when it opens up doors for you!

Cheers guys defo something I'm considering just now. Always wanted to do it and I'm confident I could at least cover what I make the now.

Get hold of a copy of this book

 

 

http://www.amazon.co.uk/Good-Finance-Guide-Small-Businesses/dp/0713682094/ref=sr_1_1?ie=UTF8&qid=1355221661&sr=8-1

 

 

it doesn't matter if your running a company as a cash in hand sole trader, have 10 staff and turning over £100k a year or 2 strong and turning over more than a million a year....this book has a lot of information that is really useful

 

I wouldn't have thought that cash flow is a major issue as a self employed sparky (though that's an assumption on my part) so therefore I would suggest that having a good accountant is key and the best couple of grand you'll spend....if for no other reason than the tax man's accountant is shit hot!

I'm needing a new theromstat fitted so when you coming round to fit it? Something like this and cheap as chips!!

 

http://www.screwfix.com/p/siemens-rwb29-multi-choice-programmer/65118

 

Mates rates mind!

This is it!