In the past few weeks we’ve featured case studies as to how different businesses have benefited from our one hour brainstrorming and consultancy services. Each business we’ve featured so far, has had something in common. They are already established businesses. In this post we are showcasing reader BL who has yet to set up his business. Hence the initials as he’s still working for his employer.
Essentially, BL is looking to start his own business as a coach and motivational speaker. But didn’t know where to start. BL was looking to go it alone as with reductions in his company’s client’s budgets could mean that there might be reductions in headcount. So his drive for starting his own business was around safeguarding his income and establishing a bigger career for himself.
After a few minutes chatting on Skype, BL outlined why he was looking to ‘go alone’ and what markets that he was planning to go into. Essentially those markets were the same as his existing employer. This could cause two major issues:
1) He may be in breach of his employment contract
2) He would be going up against established competition with the same offer
So, we advised him to steer clear of these markets and find a new markets. After a few more minutes we quickly identified that a suitable market existed on his doorstop.
A lot of BL’s work had been in the area of self confidence and self belief. As his local area has high levels of unemployment how about providing mindset coaching to those who have been out of work a long time or motivating those looking to start their own business. This is a new market that is not touched by either his existing employer or his other coaches in his local area.
Leverage the people you know
BL also thought that he didn’t think he knew any contacts who could help him get started, but then after chatting it through he realised that he did actually know some people, and he agreed as his next action to go and talk with them.
BL still needs to build his business plan which we will help him with, but one of the options that we discussed about when he decides to make the move to ‘self employed’ is to talk to his existing employer and see if he could still undertake his current job but as a service provider rather than as an employee. Basically his existing employer could contract (say) 10 days per month and buy extra days as required.
Become a supplier instead of an employee
This would help BL’s employer to reduce it’s employment costs and also give BL a ‘guaranteed’ income for however long the arrangement could be negotiated for. This would have several advantages for his employer:
1) Not having to pay redundancy costs
2) The employer reduces costs without the loss of BL
So what could we do for you?
For an investment of $350 you get 1 hour of our time by Skype and we can talk through the problem and work out a way forward to help you grow your business or make more money. To find out more and book our services click here.