Who has a business idea on their mind but never acted on it?

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mattwnz

20173 posts

Uber Geek

#1770236 25-Apr-2017 16:09

One of the first things I think people need to look, at is what are you trying to achieve from it? Are you trying to create a fast growing business that you hope to sell off in the next few years, and you may not make much money while you are running it, but you expect to make your money when you sell it. Or are you doing it as a long term business, so you want to make good earnings from it while you run it. Many businesses have a 'use by date'. Many people want to turn their hobby, into a business, but it often doesn't work because they haven't planned out where they want to take the business.

octopoly

86 posts

Master Geek

#1770239 25-Apr-2017 16:15

martyyn:

I would like to open a football academy. Not an academy as such, but to provide proper coaching rather than a dad who's only played rugby and was bullied into it because no-one else would do it.

I've been involved with football for nearly 40 years. I've coached kids for 10 years and have done the NZF junior and youth coaching courses. There are enough kids around here to do it but I'm not convinced there is the desire within the rugby dominated community for it.

I love football and am pretty outspoken about how it should be played, but especially how kids should be coached. Whilst I've been involved with some pretty good players over the years, it doesn't always win me too many friends amongst the parents.

I did try it a couple of summers ago. Everyone told me I was wasting my time, it had been tried before and no-one turned up. I had 25 kids at the first session and over 40 at the second. That year the local club had 40 new enrolments of kids 8 and under. Something they hadn't seen in years.

I gave it up when the new season started because I was already committed to coaching two teams but I've always wanted to do it properly and not be tied to either a club or a school.

Hey Martyyn, that sounds very ambitious. The fact that you have already tried it with success is very impressive, especially as New Zealand is dominated by rugby - as you have already pointed out. Do you think you are going to give it another try somewhere down the line? Would be great if you could make it work.

octopoly

86 posts

Master Geek

#1770241 25-Apr-2017 16:22

mattwnz:

One of the first things I think people need to look, at is what are you trying to achieve from it? Are you trying to create a fast growing business that you hope to sell off in the next few years, and you may not make much money while you are running it, but you expect to make your money when you sell it. Or are you doing it as a long term business, so you want to make good earnings from it while you run it. Many businesses have a 'use by date'. Many people want to turn their hobby, into a business, but it often doesn't work because they haven't planned out where they want to take the business.

I agree with you mattwnz. I think a lot of people dream of turning their hobby or passion into their main income source. I think those type of people are less likely to sell their business but rather keep doing what they love as a lifestyle business. Not every company does need to become a "fortune 500" company but you are right, people still need to think about what they want to achieve with it. If they want to build it up and grow it as fast as possible in order to sell it, great. If they want to keep it small and are happy to be able to pay their bills from it, that's great too.

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