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Hi, I'm new here
I've just come across this site, looks interesting and perhaps someone can help me make a decision.
I've been working for 3 years as a self-employed graphic designer for a company I formed with a business partner. Cut a long story short, things have gone bad between us and the company is now in the process of splitting up.
I'm now looking for full-time work, but in the process I have made 3 new leads. My dilemma is should I carry on on my own?
Part of me wants to prove to myself that the collapse of the partnership wasn't my fault andf that I can do it without the hinderance of an uncooperative business partner, but I don't want to go another year just breaking even.
I've been working for 3 years as a self-employed graphic designer for a company I formed with a business partner. Cut a long story short, things have gone bad between us and the company is now in the process of splitting up.
I'm now looking for full-time work, but in the process I have made 3 new leads. My dilemma is should I carry on on my own?
Part of me wants to prove to myself that the collapse of the partnership wasn't my fault andf that I can do it without the hinderance of an uncooperative business partner, but I don't want to go another year just breaking even.
- Contact in PM
MickeyFinn
Messages count : 120Likes count : 0Registration : 30 October 2006Hey MrDuck, welcome to the forum 🙂
What are your overheads? Breaking even is not beneficial to your wellbeing! How much will it cost to run your business from home? Daresay you have all the kit you need already so apart from internet connection and phone calls what will your outgoings be? A small amount of selective advertising (don't do papers!), checking bid sites and calling up old contacts from your failed partnership could land you enough for a few months solid work? If so then I would say go for it. First few months / year are always the hardest while you build up a client base.
Secondly if you were breaking even is your hourly rate and quoting system up to scratch? Price work too low and you may well win business but if you do not make enough to survive then what is the point? There are a quite a few bits on the site about pricing work so have a look around and reply if you can't find it and I will try and dig it out for you.
Lastly, if work prospects for the next few months do not look too bad then split your time between finding a permie job and looking for freelance work. If you land a job then hang in for a few months on regular pay and build up the freelance work until you can go full time on your own stuff.
Guess a lot of it comes down to what commitments you currently have, mortgage, kids etc.
Best of luck. As one door closes another one opens etc etc... - Contact in PM
MrDuck
Messages count : 4Likes count : 0Registration : 11 May 2007Thanks for the welcome.
I was working from home, and I was charging around £30 per hour, which seems to be about the norm. I have a mortgage and the usual bills to pay every month, my wife's salary covers those and gives us some spare.
Since ending the company I've already got two recommendations from a previous client and one from another, so I know I've got work waiting if I want it. I've learned some hard lessons with my previous venture, but it's also left me a bit wary. - Contact in PM
MickeyFinn
Messages count : 120Likes count : 0Registration : 30 October 2006£30 an hour is not bad at all. If working from home with minimal expenses how the **** were you not spinning a profit? :eek: - Contact in PM
MrDuck
Messages count : 4Likes count : 0Registration : 11 May 2007Like I told you, we weren't getting regular work. We spent money on direct mailing, advertising, networking events, chamber of commerce membership, computer equipment, software, web hosting, etc. It all adds up. - Contact in PM
MickeyFinn
Messages count : 120Likes count : 0Registration : 30 October 2006Sorry, nowhere above does it say you were not getting regular work. Not being stacked out with work will obviously lead to shortfall in target earnings so that explains something.
PC (£600) and software (even the whole Adobe Creative Suite is £1500 or so) totals £2,100 so that is 70 hours for the year (about two weeks worth) and it is all paid off for one of you.
If you still have the PC and the software then you will not need to buy these again. Webspace - if you are paying more than £50 a year for some shared hosting then look at the costs as you will be being overcharged!
Cut out all the marketing apart from that which proves (not suggests or looks like!) a ROI. In my experience existing clients and referrals plus not being shy to suggest yourself for work, dropping business cards etc brings in more work than marketing so build up the client base and I am sure you will be fine. - Contact in PM
MrDuck
Messages count : 4Likes count : 0Registration : 11 May 2007
Sorry, my mistake, I thought I'd said something about the amount of work. Thanks for the advice, I wish I'd discovered this site sooner.MickeyFinn, post: 1070 a écrit : Sorry, nowhere above does it say you were not getting regular work. Not being stacked out with work will obviously lead to shortfall in target earnings so that explains something.
PC (£600) and software (even the whole Adobe Creative Suite is £1500 or so) totals £2,100 so that is 70 hours for the year (about two weeks worth) and it is all paid off for one of you.
If you still have the PC and the software then you will not need to buy these again. Webspace - if you are paying more than £50 a year for some shared hosting then look at the costs as you will be being overcharged!
Cut out all the marketing apart from that which proves (not suggests or looks like!) a ROI. In my experience existing clients and referrals plus not being shy to suggest yourself for work, dropping business cards etc brings in more work than marketing so build up the client base and I am sure you will be fine.