View Full Version : starting my own business
3rd May 2003, 02:44 am
i am thinking of starting my own business doing contacted work in my home town ,so if anyone has a tip or any downfallls that could help me
that would be great
i run autocad 2002 and i will concentrate on residentiale , and at the moment i work part-time with a qualified draftsman.
3rd May 2003, 07:08 pm
Only ever done a few private jobs before,actually considered becoming self employed later in my career and producing CAD drawings at home.The idea is good but I eventually weighed the odds up and it didnt appear that favourable in the end.As well as having your VAT to work out and accounts to sort,how would I manage by myself if a client wanted a huge amount of work done by yesterday?The other thing is could I manage to survive on the money I was bringing in if the work wasnt coming in?There are other obvious good reasons though for being self employed though,the money can be alot better and you have more freedom,are able to work around your life rather than live around your job :) Other things you'd have to take into consideration before you become self employed are do you have a back up plan if it all goes wrong ,do you have sufficient funds to invest in your new venture, do you have a sufficient funds to survive on should the work start to dry up & what legislative issues should you be aware of when setting up a buisness ?Have you any friends that are in self employed,that could give you advice?Good luck if you do set up your new comany.
4th May 2003, 12:52 am
thanks for that :)
yes my main concern is if the work slows down .
10th May 2003, 09:20 pm
One thing to remember is to draw up a contract which includes what will be included in the price, and also will there be extra charges for revisions and such. I worked at home for some time, but one problem I had was collecting the money. I recomend requiring at least 30% to 50% down, and the rest when the drawings are complete. Sometimes the client would change their mind and say that for whatever reason they are not going to do the job they intended to do. Then comes the problem of collecting the money for the drawings.
They had a problem understanding that even though they are not go to build such-and-such, they still need to pay me for my time involved. If you collect x amount, then you will not get totally burned. Another problem was the client making several revisions, and then not understanding why they need to pay for the revisions. Also, at least here in Texas, depending on what percentage of your house floorspace (square-footage) is used for this business, you can get a tax break for it.
11th May 2003, 02:50 am
thats a good idea getting a down deposit on the drawing and yes we have that floor provision here with our tax too , i will be having a man from the tax shop coming over to offer some tips on that as well . so now i am working on getting my reg with the building commission . i still have a lot to do thanks for your time
11th May 2003, 10:18 am
Yeh I remember having similar experiences,didnt appear to get paid for the work when I had completed it,everytime the client decided he wanted another revision made I was expected to wait till he had finished making his changes.I eventually got paid at the end of the contract,whcih was slightly annoying but better than not at all.Problem was also that the client was a friend which is always difficult asking for payment ,you dont want to sound like your biting his ankles,even though you need the money.Sounds like a good idea getting staged payments for your work though.Attaining payment from clients can however be difficult for any company,as I ve noticed being in the cronstruction industry.Good luck Im sure if youre prepared well enough your not regret starting your own company,should also be great experience in itself :wink:
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