What business to start with £250k?
01 August 2006, 08:42 AM
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Originally Posted by babyboy
Hi guys,
I post regularly on this forum but have used a new identity for this question for security reasons, I hope you don't mind.
I post regularly on this forum but have used a new identity for this question for security reasons, I hope you don't mind.
Very sensible.....dont want someone to track you down to steal your share options and an ISA.
01 August 2006, 01:00 PM
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Originally Posted by The Snug Rhino
Very sensible.....dont want someone to track you down to steal your share options and an ISA.
01 August 2006, 01:16 PM
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Set up your own Archaeology business.....thou I've heard there is no future in this!
Open a decent restaurant or nightclub, probably need to finance these ideas with a loan as well thou.
Open a decent restaurant or nightclub, probably need to finance these ideas with a loan as well thou.
01 August 2006, 05:23 PM
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Originally Posted by The Snug Rhino
Very sensible.....dont want someone to track you down to steal your share options and an ISA.
01 August 2006, 05:43 PM
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Originally Posted by babyboy
Another boring day at the office selling critical illness cover/insurance?
Never sold insurance like that in my life.....and i dont work much at the moment, i earnt £45k in June so i'm just chillin'
hey...maybe i could ask what i should do with it? ohhh.....i just realised i have a brain so dont need to.
01 August 2006, 07:14 PM
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Originally Posted by The Snug Rhino
......... i earnt £45k in June so i'm just chillin'
01 August 2006, 10:31 PM
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Originally Posted by David Lock
Perhaps The Smug Rhino would be more appropriate?
Its an anagram, smug wouldnt work.
02 August 2006, 07:42 AM
#74
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How about a LAN, seems high tech LAN`s are hard to come by and the events that are held there are always sponsored by the large software companies.
In normal working hours it can be a nice internet cafe.
I know its the first thing i`d look into if I came into some serious dosh.
In normal working hours it can be a nice internet cafe.
I know its the first thing i`d look into if I came into some serious dosh.
02 August 2006, 12:05 PM
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Originally Posted by +Doc+
How about a LAN, seems high tech LAN`s are hard to come by and the events that are held there are always sponsored by the large software companies.
In normal working hours it can be a nice internet cafe.
I know its the first thing i`d look into if I came into some serious dosh.
In normal working hours it can be a nice internet cafe.
I know its the first thing i`d look into if I came into some serious dosh.
02 August 2006, 12:27 PM
#76
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Local Area Network.
Basically an area with loads of computers linked together were like minded games playing people get together.
EG.
LAN info http://www.gameon.co.uk/?page=17&cmd=1
Internet cafe http://www.cyberzone.co.uk/
If the setup is up to date and modern enough it can be used to host large events backed by big companies = big money.
Just an idea. e-sports is the next big thing sponsorship is running into the 100`s of thousands.
Basically an area with loads of computers linked together were like minded games playing people get together.
EG.
LAN info http://www.gameon.co.uk/?page=17&cmd=1
Internet cafe http://www.cyberzone.co.uk/
If the setup is up to date and modern enough it can be used to host large events backed by big companies = big money.
Just an idea. e-sports is the next big thing sponsorship is running into the 100`s of thousands.
02 August 2006, 03:16 PM
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Originally Posted by Reality
Pornographic web site it is then 
.
You'd need to come up with a USP - there's far too many ordinary **** websites out there - So I'm told
.
I'm sure I could come up wth a USP - for the right price - How about you send me £200k and I'll get my thinking cap on
.
.You'd need to come up with a USP - there's far too many ordinary **** websites out there - So I'm told
.I'm sure I could come up wth a USP - for the right price - How about you send me £200k and I'll get my thinking cap on
.
Ns04
02 August 2006, 03:33 PM
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Originally Posted by +Doc+
Local Area Network.
Basically an area with loads of computers linked together were like minded games playing people get together.
EG.
LAN info http://www.gameon.co.uk/?page=17&cmd=1
Internet cafe http://www.cyberzone.co.uk/
If the setup is up to date and modern enough it can be used to host large events backed by big companies = big money.
Just an idea. e-sports is the next big thing sponsorship is running into the 100`s of thousands.
Basically an area with loads of computers linked together were like minded games playing people get together.
EG.
LAN info http://www.gameon.co.uk/?page=17&cmd=1
Internet cafe http://www.cyberzone.co.uk/
If the setup is up to date and modern enough it can be used to host large events backed by big companies = big money.
Just an idea. e-sports is the next big thing sponsorship is running into the 100`s of thousands.
Thats interesting but I never play computer games. That would make it quite difficult for me to keep my finger on the pulse as I don't swing in those circles.
This will show how little I know about the gaming world but are there already gaming championships? ie 100 people pay £100 each to enter with prize money of say £7000 leaving £3k profit?
02 August 2006, 03:45 PM
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Originally Posted by babyboy
Thats interesting but I never play computer games. That would make it quite difficult for me to keep my finger on the pulse as I don't swing in those circles.
This is an interesting comment as this is one of the very reasons a number of people have said if you don't know what it is you want to do then you are unlikely to make a success of it. If you don't know what it, someone else is always likely to know a bit more than you and will use that to relieve you of your £250k.
Adapt the old adage they teach at writing school - write about what you know!!
Of course some people are successful at all sorts of business - and what they know is how to set up businesses and be an entrepreneur.
Watch Dragons Den - the questions they ask are consistent and very sensible. The oddest thing is that they are the basics of setting up a business and yet most people don't know the basics.
Really think about what outcome you would like to achieve and then work it out from there. If you want a good return on capital, or a secure return, or something to keep your wife occupied and amuse you for a day a week, or you just want to spend £250k.
If it is the latter, give it to me and I will very much enjoy spending it
You need to decide whether you want to be a Dragon or being served up in the Den.
Your current line of enquiry has you firmly on the served up side
Rannoch
02 August 2006, 03:59 PM
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Originally Posted by Rannoch
This is an interesting comment as this is one of the very reasons a number of people have said if you don't know what it is you want to do then you are unlikely to make a success of it. If you don't know what it, someone else is always likely to know a bit more than you and will use that to relieve you of your £250k.
Adapt the old adage they teach at writing school - write about what you know!!
Of course some people are successful at all sorts of business - and what they know is how to set up businesses and be an entrepreneur.
Watch Dragons Den - the questions they ask are consistent and very sensible. The oddest thing is that they are the basics of setting up a business and yet most people don't know the basics.
Really think about what outcome you would like to achieve and then work it out from there. If you want a good return on capital, or a secure return, or something to keep your wife occupied and amuse you for a day a week, or you just want to spend £250k.
If it is the latter, give it to me and I will very much enjoy spending it
You need to decide whether you want to be a Dragon or being served up in the Den.
Your current line of enquiry has you firmly on the served up side
Rannoch
Adapt the old adage they teach at writing school - write about what you know!!
Of course some people are successful at all sorts of business - and what they know is how to set up businesses and be an entrepreneur.
Watch Dragons Den - the questions they ask are consistent and very sensible. The oddest thing is that they are the basics of setting up a business and yet most people don't know the basics.
Really think about what outcome you would like to achieve and then work it out from there. If you want a good return on capital, or a secure return, or something to keep your wife occupied and amuse you for a day a week, or you just want to spend £250k.
If it is the latter, give it to me and I will very much enjoy spending it
You need to decide whether you want to be a Dragon or being served up in the Den.
Your current line of enquiry has you firmly on the served up side
Rannoch
Rannoch, I appreciate your comments but they are a little inaccurate. I know that its best to have a business based on what you know. Thats why I wouldn't do something like the LAN as I'm not into that world and I know that. Since I would not enter something that I wouldn't feel motivated to be an expert in then nobody would be able to relieve me of my money.
It is not beyond me to look into something and then become very well versed in so that I would 'not be served up'. Obviously only if it floated my boat.
Problem is I haven't quite found what that is, or found my niche so to speak.
02 August 2006, 04:11 PM
#81
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Good luck in whatever you choose to diversify in, finding something both yourself and your wife are half interested in then putting the hard work in to research all the details would be very advantages imo. If you can find something of interest AND can utilise your existing skills then all the better.
02 August 2006, 04:28 PM
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Originally Posted by babyboy
It is not beyond me to look into something and then become very well versed in so that I would 'not be served up'.
I am sure that a little bit of motivated research will help you compete with people who have ten or twenty years experience of doing something
You did ask what I did in an earlier post...
...over twenty years experience in a variety of business roles has enabled me to create a network of business people who trust me (
I know ) and I now have access to three or four high margin (to me) services that they want to buy.The margins vary between 100% (time based service where all expenses are paid) to 10% (commission that has miniscule cost of sale, no capital cost to me and literally minutes of time every week, but reasonable volume).
The reason why it works: -
- trusted network, not something you can get from research
- understanding what they want from experiencing and knowing their real issues, not 'research'
- access to supply (and on the supply side the two above points equally apply!)
I am sure you will find most of the successful business people on here have a similar formula. Doing something different typically leads to dramatic failure or dramatic success. The latter being the exception who becomes a multi-millionaire!!
Rannoch
02 August 2006, 07:31 PM
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Originally Posted by Rannoch
Good luck to you then!!
I am sure that a little bit of motivated research will help you compete with people who have ten or twenty years experience of doing something
You did ask what I did in an earlier post...
...over twenty years experience in a variety of business roles has enabled me to create a network of business people who trust me ( I know ) and I now have access to three or four high margin (to me) services that they want to buy.
The margins vary between 100% (time based service where all expenses are paid) to 10% (commission that has miniscule cost of sale, no capital cost to me and literally minutes of time every week, but reasonable volume).
The reason why it works: -
- trusted network, not something you can get from research
- understanding what they want from experiencing and knowing their real issues, not 'research'
- access to supply (and on the supply side the two above points equally apply!)
I am sure you will find most of the successful business people on here have a similar formula. Doing something different typically leads to dramatic failure or dramatic success. The latter being the exception who becomes a multi-millionaire!!
Rannoch
I am sure that a little bit of motivated research will help you compete with people who have ten or twenty years experience of doing something
You did ask what I did in an earlier post...
...over twenty years experience in a variety of business roles has enabled me to create a network of business people who trust me (
I know ) and I now have access to three or four high margin (to me) services that they want to buy.The margins vary between 100% (time based service where all expenses are paid) to 10% (commission that has miniscule cost of sale, no capital cost to me and literally minutes of time every week, but reasonable volume).
The reason why it works: -
- trusted network, not something you can get from research
- understanding what they want from experiencing and knowing their real issues, not 'research'
- access to supply (and on the supply side the two above points equally apply!)
I am sure you will find most of the successful business people on here have a similar formula. Doing something different typically leads to dramatic failure or dramatic success. The latter being the exception who becomes a multi-millionaire!!
Rannoch
Even the biggest, most established businesses get battered by new guys. In front of my own eyes I've seen upstarts nick business from multi billion pound multinationals. Usually the multinational deals in about another 100 'products' and the new set up will just specialise in one or two. This means the multi loses maybe 1% of its revenue but the new company turns over some serious wad.
This very concept is something I am looking into in my field of expertise, its just that I was quite interested to hear people thoughts on a variety of other fields.
Hard work and research can pay off and will allow you to compete with the established. Obviously one needs to have a large amount of talent and be able to absorb large amounts of info/concepts quickly and have vision, this is exactly what excites me.
Despite having a background that has nothing to do with investment I have interests in property across 5 countries ( and I'm not talking spanish villas
) including some third world countries where I can't even speak the language. I didn't do google searchs on them, I flew there to investigate my hunches and they paid off. Who would have thought I could make money from opportunities that other people who had lived all their life in that country couldn't see?
Thanks for your contribution:
02 August 2006, 07:51 PM
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Originally Posted by babyboy
Rannoch, you usually talk sense but are being a little silly. Are you really saying a new set up can never compete with one thats been around for 20 years or so? Thats what your post says. If that was the case no new businesses would ever come up. Old set ups get old, set in their ways, forget the small things that matter, incur heavy admin costs etc
Even the biggest, most established businesses get battered by new guys. In front of my own eyes I've seen upstarts nick business from multi billion pound multinationals. Usually the multinational deals in about another 100 'products' and the new set up will just specialise in one or two. This means the multi loses maybe 1% of its revenue but the new company turns over some serious wad.
This very concept is something I am looking into in my field of expertise, its just that I was quite interested to hear people thoughts on a variety of other fields.
Hard work and research can pay off and will allow you to compete with the established. Obviously one needs to have a large amount of talent and be able to absorb large amounts of info/concepts quickly and have vision, this is exactly what excites me.
Despite having a background that has nothing to do with investment I have interests in property across 5 countries ( and I'm not talking spanish villas ) including some third world countries where I can't even speak the language. I didn't do google searchs on them, I flew there to investigate my hunches and they paid off. Who would have thought I could make money from opportunities that other people who had lived all their life in that country couldn't see?
Thanks for your contribution:
Even the biggest, most established businesses get battered by new guys. In front of my own eyes I've seen upstarts nick business from multi billion pound multinationals. Usually the multinational deals in about another 100 'products' and the new set up will just specialise in one or two. This means the multi loses maybe 1% of its revenue but the new company turns over some serious wad.
This very concept is something I am looking into in my field of expertise, its just that I was quite interested to hear people thoughts on a variety of other fields.
Hard work and research can pay off and will allow you to compete with the established. Obviously one needs to have a large amount of talent and be able to absorb large amounts of info/concepts quickly and have vision, this is exactly what excites me.
Despite having a background that has nothing to do with investment I have interests in property across 5 countries ( and I'm not talking spanish villas
) including some third world countries where I can't even speak the language. I didn't do google searchs on them, I flew there to investigate my hunches and they paid off. Who would have thought I could make money from opportunities that other people who had lived all their life in that country couldn't see? Thanks for your contribution:
As you are hard of thinking I will respond in kind.
Where in my post does it say my business has been set up for twenty years?
Where in my post does it say that new businesses cannot compete?
Where in my post does it say that new businesses cannot rip the heart out of old businesses?
Thanks for your contribution and as I said "Good Luck". :
02 August 2006, 08:43 PM
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Why not buy Scoobynet?
Being more serious, I run a busy website that makes a modest income but it's part time. If I had an investor to get behind it with assistance and modest funding I could monetize it. I'm not asking you to invest in me, it's getting big enough to support me, I'm trying to point out that there must be a lot of people who run a small part time business that has the potential to really grow but are unable to take the plunge and throw in the day job.
I'd be looking for people that you can invest in, people who are passionate and knowledgable about their area but just need that boost to make substantial returns.
Good luck!
Mike
Being more serious, I run a busy website that makes a modest income but it's part time. If I had an investor to get behind it with assistance and modest funding I could monetize it. I'm not asking you to invest in me, it's getting big enough to support me, I'm trying to point out that there must be a lot of people who run a small part time business that has the potential to really grow but are unable to take the plunge and throw in the day job.
I'd be looking for people that you can invest in, people who are passionate and knowledgable about their area but just need that boost to make substantial returns.
Good luck!
Mike
02 August 2006, 09:44 PM
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Originally Posted by Rannoch
And I wondered why others had already stuck two fingers up to your attitude and I didn't spot it earlier - you are right - I am more naive than I thought.
As you are hard of thinking I will respond in kind.
Where in my post does it say my business has been set up for twenty years?
QUOTE;
over twenty years experience in a variety of business roles has enabled me to create a network of business people who trust me ( I know ) and I now have access to three or four high margin (to me) services that they want to buy.
Where in my post does it say that new businesses cannot compete?
QUOTE;
I am sure that a little bit of motivated research will help you compete with people who have ten or twenty years experience of doing something
Where in my post does it say that new businesses cannot rip the heart out of old businesses?
Thanks for your contribution and as I said "Good Luck". :
As you are hard of thinking I will respond in kind.
Where in my post does it say my business has been set up for twenty years?
QUOTE;
over twenty years experience in a variety of business roles has enabled me to create a network of business people who trust me ( I know ) and I now have access to three or four high margin (to me) services that they want to buy.
Where in my post does it say that new businesses cannot compete?
QUOTE;
I am sure that a little bit of motivated research will help you compete with people who have ten or twenty years experience of doing something
Where in my post does it say that new businesses cannot rip the heart out of old businesses?
Thanks for your contribution and as I said "Good Luck". :
Can't you remember what you've just posted?
You have said or at least strongly implied all those things. If you or others want to stick two fingers up because I won't be patronised by your attitudes then thats just tough ****e. I admit I have never run a business in the true sense of the word but I'm not really into being spoken to like I'm a small child with ideas above his station. My success in many areas is established, I have nothing to prove. If you really have something constructive to say feel welcome, if you think you'll take an opportunity to try and patronise me because you run some small business forget about it.
Just remember you've been in your game for 20 years, I've been in mine for less then 10 and could more or less retire if I wanted. Can you say the same?
If you find it offensive that I say things bluntly then thats tough. The truth is the truth and there is no point in me wrapping it up in cotton wool. I'm sure that as an established businessman you appreciate this approach
Thanks for your opinions, they are appropriately noted
02 August 2006, 09:54 PM
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Originally Posted by Echo
Why not buy Scoobynet?
Being more serious, I run a busy website that makes a modest income but it's part time. If I had an investor to get behind it with assistance and modest funding I could monetize it. I'm not asking you to invest in me, it's getting big enough to support me, I'm trying to point out that there must be a lot of people who run a small part time business that has the potential to really grow but are unable to take the plunge and throw in the day job.
I'd be looking for people that you can invest in, people who are passionate and knowledgable about their area but just need that boost to make substantial returns.
Good luck!
Mike
Being more serious, I run a busy website that makes a modest income but it's part time. If I had an investor to get behind it with assistance and modest funding I could monetize it. I'm not asking you to invest in me, it's getting big enough to support me, I'm trying to point out that there must be a lot of people who run a small part time business that has the potential to really grow but are unable to take the plunge and throw in the day job.
I'd be looking for people that you can invest in, people who are passionate and knowledgable about their area but just need that boost to make substantial returns.
Good luck!
Mike
Why don't you pm me some details? You don't have to give away anything sensitive.
You are not the first to suggest this approach its just whether someone like me who has never run a business can really be successful in investing in others? My reply to Rannoch may seem a bit abrupt, but as you can see I know my weaknesses but am very confident about my strengthes. I don't need to listen to nonsense
02 August 2006, 11:11 PM
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Originally Posted by babyboy
its just whether someone like me who has never run a business can really be successful in investing in others?
...Derrrr, Derm....
Hey don't worry about it - lots of really experienced people manage to lose their shirts doing that as well
Just remember life insurers buying up estate agents - didn't understand the business model - lost hundreds of millions.
Or general insurers buying independent motor repairers - didn't understand the business model - lost tens of millions.
Cable companies buying into football teams - didn't understand the business model - lost tens of millions.
Work out where the money is being made - that is where the real experts will be going for and that is where it is hardest to get in.
If your money is easy to put in ask why?
03 August 2006, 12:18 AM
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Originally Posted by babyboy
Hi Mike,
Why don't you pm me some details? You don't have to give away anything sensitive.
You are not the first to suggest this approach its just whether someone like me who has never run a business can really be successful in investing in others? My reply to Rannoch may seem a bit abrupt, but as you can see I know my weaknesses but am very confident about my strengthes. I don't need to listen to nonsense
Why don't you pm me some details? You don't have to give away anything sensitive.
You are not the first to suggest this approach its just whether someone like me who has never run a business can really be successful in investing in others? My reply to Rannoch may seem a bit abrupt, but as you can see I know my weaknesses but am very confident about my strengthes. I don't need to listen to nonsense
I know who you are ................... I know who you are ............
