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Do you run your own business?

My work life has reached a point where I am struggling and it is looking likely I will have to leave my job.  Due to worsening health and other issues, I don't think I can deal with highly demanding and stressful roles anymore, as it is putting too much strain on my health.

I have always wanted to run my own business as part of my stresses are sticking points within companies and politics that prevent you from getting on with the job.

I was curious if any of you run your own businesses and whether they provide a good income for you (don't have to give specifics as I appreciate that is private).

It's an idea I am mulling over, I just have worries about whether I will be able to cope and will my health let me down - so it is something I am going to have to think hard about.

We are a varied bunch, so I am interested to hear your stories for some inspiration.  Why did you decide to take the leap into running your own business.  Was it what you expected?

Parents
  • Former Member
    Former Member

    I've taken the first step as I've told my employer I'm going self-employed after my maternity leave finished. The reasons for seeking self-employment are the same as yours. Plus, I also thrive from making a difference to those who are struggling and what I can achieve in employment is limited due to politics.

    I ran national events as part of my previous role (I teach) and these were often over-subscribed. Many institutions will pay £150 for one person to attend one of these events for a day, which means if I can get 30 attendees (I used to regularly achieve 50 participants so this is do-able) that's generating £30,000. If I run a few events each year, after costs I can make enough to live a lifestyle I'm happy with. Plus, I hope to be awarded grant funding on the side to develop on-line resources for those who are unable to attend the events or want supplementary support. 

    I feel comfortable going it alone and doing this as its what I've practised for a few years with the safety net of a salary. 

    I have spent a lot of time going through my different options, weighing up the pro's and con's, considering what's best in regards to my needs as an autistic etc. I have also sat down and worked out what my ideal salary would be and then have been very realistic about what would achieve this. For example, I would have liked to focus on government-funded mentoring, which is around £50ph and can be delivered via Skype, so very minimal overheads. Unfortunately, mentees often want short-ish term support, don't want to access this every week, plus there's the need for constant marketing to generate new mentees. As such, I believe running the events will be better in terms of the income they generate, compared to the effort I have to put in.

Reply
  • Former Member
    Former Member

    I've taken the first step as I've told my employer I'm going self-employed after my maternity leave finished. The reasons for seeking self-employment are the same as yours. Plus, I also thrive from making a difference to those who are struggling and what I can achieve in employment is limited due to politics.

    I ran national events as part of my previous role (I teach) and these were often over-subscribed. Many institutions will pay £150 for one person to attend one of these events for a day, which means if I can get 30 attendees (I used to regularly achieve 50 participants so this is do-able) that's generating £30,000. If I run a few events each year, after costs I can make enough to live a lifestyle I'm happy with. Plus, I hope to be awarded grant funding on the side to develop on-line resources for those who are unable to attend the events or want supplementary support. 

    I feel comfortable going it alone and doing this as its what I've practised for a few years with the safety net of a salary. 

    I have spent a lot of time going through my different options, weighing up the pro's and con's, considering what's best in regards to my needs as an autistic etc. I have also sat down and worked out what my ideal salary would be and then have been very realistic about what would achieve this. For example, I would have liked to focus on government-funded mentoring, which is around £50ph and can be delivered via Skype, so very minimal overheads. Unfortunately, mentees often want short-ish term support, don't want to access this every week, plus there's the need for constant marketing to generate new mentees. As such, I believe running the events will be better in terms of the income they generate, compared to the effort I have to put in.

Children
  • Sounds like a nice departure to go into, especially if you have had experience of this in your current role.  I know there is money to be made in events as I work in Marketing and organise exhibitions as part of my role.  The sectors I work in are less lucrative on the events front though, but it sounds like you have found a good niche to explore.  Teaching has its advantages in that you can diversify quite easily.  Hope it all works out well for you.