Showing posts with label start up. Show all posts
Showing posts with label start up. Show all posts

Sunday, 19 October 2014

What does it take to get going

I love these stories on the web with titles like, "5 things you must know about starting a business" or "10 things every entrepreneur needs to know". I guess that they all have their place and I have certainly picked up a few tips from them, but the real truth is that you can spend your life researching what needs to be done to start something up and never actually start doing it! Been there ... almost done that!

My belief is that often some external factor or unplanned event leads to that final push - not always, but often... People spend hours in their offices with a great idea or a dream and never really get to test it for fear of taking the final leap and leaving the perceived safety of the "shore".
Yes, sound advice can be to keep your job and get something going on the side line, but that thought in itself is often enough for someone never to actually try. You hear warnings that the venture will fail if you don't commit 100% to it - for some this has certainly proved to be true.

Helena and I always wanted to start our own company and we investigated and planned the options, and actually once started a successful video editing business in Kathu. The irony of the whole situation is that we stopped doing that as it became too successful and demanded too much of Helena's time - something we had moved to Kathu to change. Looking back we should have set it up differently, but we see that as a learning to be applied somewhere in the future.

Having spent a year in Namibia, the final push for us came sooner than we had planned. In effect, while it was a great opportunity and a great place to stay, financially we were eating into our savings to stay there and moving further away from being able to start our own venture. So we had three choices;

1) Stay on and hope things got better;
2) Look for another job doing the same thing again;
3) Follow our dream and start our own venture.

Well since you have been reading this (yes, you have studied every sentence meticulously!) you will know that option 3 received the vote!

What have we learnt in the first month?
Here we go ....


"5 things that will help you to start!"

1) You need to take the step.
Read what you can, research what you can. But then stop and pray. You will need to know you are doing the right thing when times get tough, and they do quite early on (Month 1 !!). The internet won't push you. You will find information on the web to back up anything you want ... literally. If you want to stat your business up on the sideline - do it, a safety net can be a good thing. If you want to jump, plan your finances properly and make sure you can cope for a significant amount of time without income. Nobody can tell you how long, but I would guess 12 months plus - depends on what you plan to do. Some businesses will start generating income from day 1. Others will take time to build a name and a client base. The latter is the case for us.

2) Get your presence out there, sooner rather than later.
Once people know you are making a change, opportunities that you never even knew about can surface. Having handed in my resignation, I was amazed at how people opened up and took me into their confidence. Almost as if you become 'neutral' to them overnight. Keep in mind you still work for the company until your last day and take care to avoid potential conflict of interest scenarios.

The web is awash with advice on marketing. What we did was to sort out the branding first. I used an online service to do the logo design, business cards and letter heads for me and I was very happy with the results. Check them out: www.logodesigncreation.com.
This is the result:

Then set up a website, facebook page, twitter account and .....maybe even a blog if you enjoy writing and want to keep track of things. Who knows you may be the next Mark Shuttleworth and writing your autobiography may be easier this way!

3) Setting up the company
We decided to go with a contact that sets up your company, assists with taxes and general administrative requirements surrounding the statutory side of things. It has taken longer than expected but that is apparently due to issues with the CIPC site (www.cipc.co.za)
Visit their website, you can do all of it on your own if you want to save some money.

4) You don't need to be an accounting genius
This is where Google helped me. This was one of my "Best free accounting software" searches! I followed a few links, read a few reviews and came across Freshbooks more than once. I have been using it for 3 weeks now and it is awesome. A few features that I found lacking such as the ability to set up and track a budget - that would have been nice.  Otherwise, easy to use for almost anyone. www.freshbooks.com. Download the app on your mobile device and keep track of business expenses as they occur - I am sure this is going to save time later on.

5) Get on the phone
Emails and Linkedin messages are not very effective. Call people. Speak to them. You get results there and then. It may be a "No", but at least it is done. Emails and messages have a way of floating around, both in the 'digital atmosphere' as well as your head. You are going to need to have an uncluttered mind. Again ... call them.
Ok, so now I have reached the end of my list and I have another point to make, so see this as the "buy 5 get 1 free" tip!

6) Read "The seven habits of highly effective people" by Steven Covey.
If like me, reading is not something you think you always have time for, download the Audible app and buy the audio book. It is not your typical quick fix book so be prepared for a longer term investment in terms of your time. You will find some gems in this book, particularly in today's hurried, now world. The focus is on long term investments in terms of relationships and your own character.

Bear in mind, when reading the above, that we have been going for less than a month, so you are not reading advice from a business guru by any means! We have only just entered our first agreement that will lead to our first income, so see this more as a way of following our progress and seeing what works. (That's kind of like my disclaimer :) )

Mathew 6:34 ...
"Therefore do not worry about tomorrow, for tomorrow will worry about itself. Each day has enough trouble of its own."

The start up ....

Having traded the corporate world for the world of the start-up entrepreneur, I find myself wanting to record the journey for some odd reason. Perhaps it is mostly to assist my ailing memory (at the ripe old age of 37) or perhaps to help others that may find themselves caught in the endless cycle of monthly salary slips and financed cars and houses. 

Is this going to be a successful venture, I have no doubt about that. I have faith in my Father in Heaven to prepare the way. 

For so long I have been wanting to begin my own company but every time the salary gets paid in at the end of the month, the comforting feeling that you get of knowing that no matter how hard you work or how lazy you have been (yes, we are all lazy at times!) the numbers will always be there in terms of personal finance. 

Where did  it all begin?
My own personal journey in the corporate world began in 2000 when I started as a graduate industrial engineer working for BMW South Africa as an Industrial Engineer in the production control environment. The long and the short of it - what a great company to work for. Solid systems, good people and a product that the world desires! I could not have planned a better start myself! 

The journey
After 3 years there, the entrepreneurial dream already started to emerge. I was offered a chance to join a small engineering firm. The owner was looking to retire and wanted to handover to a new manager / owner. Thinking back, it was a great opportunity and I learnt more than I had bargained for! You can imagine the move from a highly structured German company to a small South African Engineering firm consisting of no more than 10 employees. Looking back, I was probably too young and didn't see the opportunity for what it may have been. I left there after two years and joined the airports company that administers the airports in South Africa as a projects engineer.

After only a year here and our first daughter changing our lives and priorities we looked to the 'Platteland' of South Africa to get away from the rat race.

We ended up in a little known town (at that time) by the name of Kathu in the fairly remote Northern Cape province. A once quiet mining town, sitting here now and seeing the rate of expansion is quite remarkable. It is certainly no longer the 'platteland' that it used to be.

We spent 7 wonderful years here and were blessed with two more children - more than any other place before, this became home. 

Next, we looked to make our first move out of South Africa and it turned out to be to the tourists paradise that is Namibia - bordering the North West of South Africa, it often feels like just another province of the same country ... but fact is, it isn't.

I was given the 'golden opportunity' that many mining engineers dream of - being part of a start up mega mine in a wonderfully safe country with an awesome family lifestyle! We truly enjoyed the 13 months there and would do it all over again.

I learnt more in that year than I ever would have in an established corporate mining house. Good and bad. More than anything in my life, this was the trigger to move into the world of entrepreneurship. In October 2014 we leaped ... in faith....