I’m 24 from the UK and I recently quit my job as a powerstation maintenance worker. It was a career I fell upon by luck and it wasn’t something I ever seen myself doing for the rest of my life. All I’ve ever wanted to do from a young age was own my own business. I began to feel like every day was the same and I was working towards nothing in a ‘9-5’ job I wasn’t interested in so I decided to quit (a lot of people will say this is silly I know but working there was beginning to cause a real strain on me and I wanted out).
I have past experience of ‘owning my own business’, I sold clothing online (eBay) for around 8 month when I was 18 and it went incredibly well, sales were going through the roof but my eventual downfall ended up being the fact I was making too much money. I was making around £800-1000 NET profit per week come the end point (from a £500 start up), which may not seem a lot, but I came from a low income working class household so having that type of money so young seemed surreal. I ended up buying a lot of luxuries and gambling heavily until I’d drove the business into the ground. At this point I decided to give up on my dream of owning my own business and got a regular job, even though I knew it wasn’t what I wanted.
Now here I am at 24 with a lot more life experiences, much more knowledge and more than anything a huge drive to be successful. I have a really strong business idea in mind which doesn’t have any competition in my area (550K people live in my county) but it targets specific individuals, not all 550K, probably 6-8% of them. If it’s successful in my area then it’s very easily expanded to other areas without the need to expand my solo work force or invest money. It can be started from virtually nothing but I’m considering putting money into advertising initially as well as do a lot of self advertising (social media, high street banners, sponserships etc…). I’m nervous but excited to start my own business but I know it has to be planned carefully to give it the best chance possible of being successful.
Is there any advice or tips people could give to me on the best way to run a business successfully. Thank you!