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One for business owners

One for business owners

Old Oct 21st 2013, 9:44 pm
  #1  
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Lightbulb One for business owners

Just wondering how many businesses owners there are amongst us, and whether you'd like to share what your greatest challenge has been in getting your business off the ground?

For me, it's always been about a lack of a local / family network. I've lost count of the jobs I've lost out to someone's nephew, or cousin twice removed, or friend of a friend.

I feel there is a great sense of loyalty amongst kiwis that makes them compelled to do business with those they are related / connected to, no matter how loosely, whether the person they're giving the job to is an actual professional or simply someone "who knows a little about ____________" (enter your trade here).

I'm not saying this is necessarily a bad thing (it's also worked in my favour at times), just a distinct disadvantage we as expats have, particularly at the beginning.

Would love to hear about others' experiences. Happy for you to PM me if you'd rather discuss views privately...
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Old Oct 21st 2013, 10:26 pm
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Default Re: One for business owners

I now run three business, which sounds really flash, but I assure you I am in no way Donald Trump.

The hardest thing, like many things in life, was taking the first step. Leaving the security of employment, for the unknow of trying to make some money for yourself.

Still here nearly five years later, not making heaps of money, but steadily chipping away at the mortgage.
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Old Nov 8th 2013, 7:39 am
  #3  
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Default Re: One for business owners

cant fault it but hours can be long but now built up an excellent and lucrative core clientele and don't bother with timewasters who don't want quality just cheap Chinese workers who they can then complain about but these workers do bring me some extras when I am asked to come and make good their shoddy work. all good , my own boss so I can pick and chose
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Old Nov 9th 2013, 10:16 pm
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Default Re: One for business owners

Originally Posted by Linbin View Post
cant fault it but hours can be long but now built up an excellent and lucrative core clientele and don't bother with timewasters who don't want quality just cheap Chinese workers who they can then complain about but these workers do bring me some extras when I am asked to come and make good their shoddy work. all good , my own boss so I can pick and chose
Yeah, there's no point in marketing on price alone because there will always be someone else prepared to do it for less and then you find you are working for peanuts. I never discount and that usually discourages timewasters. Most of my clients have the same professional standards as me, and this makes dealing with them much easier.

When I came back to NZ after 24 years away I knew I wanted to get out of the rat race and being self employed was the way to do it. That has worked out really well and the business is busy and bringing in a good income. I earn about the same as I did in London, but with fewer hours.

I have a large extended family in Auckland and not one of them has sent any business my way! However what I did do was partner up with someone who had strengths in marketing locally that I didn't have. We have a written contract which I had a solicitor check over. I pay him to bring in business and he is getting me as much as I can handle right now.

Many immigrants start up businesses here and buying into a franchise is worth having a look up. I looked into a few where I didn't believe that the numbers stacked up, so you have be ruthless and think of income/costs and keep emotions out of it. That's very hard to do when you see a business idea that appeals to you.

Someone on this site (talking about IT) suggested starting up a business which you could work on out of hours while working in a day job to pay the bills. I have a little sideline that pays a small income. I spent many hours in the evening setting this up but because I enjoyed it, and it was MY business it didn't feel like work. It's amazing how motivated you can become when you are working for yourself and not giving the profits to someone else.

Last edited by jmh; Nov 9th 2013 at 10:18 pm.
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