£2.5k +LTD

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Robert Diacu

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Hello guys,

Ready for some brainstorming?

You’re living in the UK, saved @£2.5-£3k and you just received the documents for your brand new LTD.
Is this a good starting point for something?
What would you do? Dropshipping? POD? Online/Offline ?
Not looking for spoon feeding but I am definitely looking for the spark to light up the fire .
 
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You are saying you don't look for a spoon feeding but you don't even have any clear directions?

Sorry but nobody will give you those kind of directions, people would however,
help you with X technical problem or give you technical tips.

(i.e What is the best hosting I should use? What are some marketing channels that are good?)
 
I have no idea which are your personal skills and experiences to answer this

Since you mentioned dropshipping/POD, you must have some knowledge or preference about it, if that is the case, invest your time studying it. With that budget you can do some testing.
 
Hint: It is not necessary to do something, just consult about something
Create a consulting brand about stuff you know best — then advertise it.
 
Robert Diacu said:
Hello guys,

Ready for some brainstorming?

You’re living in the UK, saved @£2.5-£3k and you just received the documents for your brand new LTD.
Is this a good starting point for something?
What would you do? Dropshipping? POD? Online/Offline ?
Not looking for spoon feeding but I am definitely looking for the spark to light up the fire .
Click to expand...

I prefer to start a business, and once it's profitable, then and only then, actually incorporate and do all the paperwork.

Why bother with paperwork if the business isn't even generating revenue? Doesn't make sense to me; UNLESS you have a boatload of money ready to go.
 
LuckyGamble said:
I prefer to start a business, and once it's profitable, then and only then, actually incorporate and do all the paperwork.

Why bother with paperwork if the business isn't even generating revenue? Doesn't make sense to me; UNLESS you have a boatload of money ready to go.
Click to expand...
It actuallys makes sense if OP is from the UK, I am pretty sure that its very cheap and easy to open a LTD in the UK,

And to have a proper merchanet account you need to be already registered to get payments (For example PayPal asked me for documention just for a small first payment)

The idea is that once you want to execute your idea, you don't need to wait for the company to open or anything else, since you are already registered.
 
JollyRock said:
For example PayPal asked me for documention just for a small first payment)
Click to expand...
There's never a need to provide docs to paypal. Just stick to stealth accounts.

JollyRock said:
The idea is that once you want to execute your idea, you don't need to wait for the company to open or anything else, since you are already registered.
Click to expand...
Also, there's never a reason to open a company, unles you want to do business with already incorporated businesses. You can work as a freelance and get paid in crypto. ;)
 
Starting up an LTD in the Uk literally costs about £10 at most, so it’s not a big deal.

The good things about it are that a) you protect yourself against being personally liable if your business gets sued or can’t pay it’s debts and b) it’s more efficient in terms of tax.

My question though is this; if you don’t know what you are going to do, what or how did you name your company?!
 
JollyRock said:
You are saying you don't look for a spoon feeding but you don't even have any clear directions?

Sorry but nobody will give you those kind of directions, people would however,
help you with X technical problem or give you technical tips.

(i.e What is the best hosting I should use? What are some marketing channels that are good?)
Click to expand...
I was not asking for the blue prints of a multi million company, I was just asking for opinions on what ifs and what would you do with this and that. You just wasted your precious time on a useless comment that did not bring any value at all not to me or to the community.
 
mx10n said:
Hint: It is not necessary to do something, just consult about something
Create a consulting brand about stuff you know best — then advertise it.
Click to expand...

davids355 said:
Starting up an LTD in the Uk literally costs about £10 at most, so it’s not a big deal.

The good things about it are that a) you protect yourself against being personally liable if your business gets sued or can’t pay it’s debts and b) it’s more efficient in terms of tax.

My question though is this; if you don’t know what you are going to do, what or how did you name your company?!
Click to expand...
As our colleague above said, I was planning on starting a consulting business. A place where people can come alone and leave together (like a tinder for businesses), based on digital marketing and a middleman providing services for the local businesses.
I named it Digital Connected Network LTD :)
 
JollyRock said:
It actuallys makes sense if OP is from the UK, I am pretty sure that its very cheap and easy to open a LTD in the UK,

And to have a proper merchanet account you need to be already registered to get payments (For example PayPal asked me for documention just for a small first payment)

The idea is that once you want to execute your idea, you don't need to wait for the company to open or anything else, since you are already registered.
Click to expand...

LuckyGamble said:
There's never a need to provide docs to paypal. Just stick to stealth accounts.


Also, there's never a reason to open a company, unles you want to do business with already incorporated businesses. You can work as a freelance and get paid in crypto. ;)
Click to expand...
I have been trying to get in touch with local suppliers in the past and I have hit the wall when they were all saying to me that their services are B2B only. And I believe that showing up as a registered company gives you more credibility and more notoriety when doing business.
 
Robert Diacu said:
I was not asking for the blue prints of a multi million company, I was just asking for opinions on what ifs and what would you do with this and that. You just wasted your precious time on a useless comment that did not bring any value at all not to me or to the community.
Click to expand...
The value I provided you is the truth about the reality of things.

And you might think "this is not what I am asking, I literally said that I don't", but consequently, that what you do, you are asking for an entire business idea.
 
Put your business into the departments that you need to achieve your goals.
You don't have goals? Well shit, hurry and get those down with deadlines. Just stick a few down to start.
Find a time management and planning system that will suit your business and allow you to manage everything incoming and ongoing. And stick with it.
Now you can get busy working on your goals in the relevant department and sailing the seas of business.
 
Robert Diacu said:
I have been trying to get in touch with local suppliers in the past and I have hit the wall when they were all saying to me that their services are B2B only. And I believe that showing up as a registered company gives you more credibility and more notoriety when doing business.
Click to expand...
Yeah, but what good does it gives you to buy computers at discounted prices if you don't even know how to sell them?

You have to have a marketing plan first and then you can worry about all the paperwork.
 
Robert Diacu said:
Hello guys,

Ready for some brainstorming?

You’re living in the UK, saved @£2.5-£3k and you just received the documents for your brand new LTD.
Is this a good starting point for something?
What would you do? Dropshipping? POD? Online/Offline ?
Not looking for spoon feeding but I am definitely looking for the spark to light up the fire .
Click to expand...

Step 1 for starting a business is to sell. The need to spend money registering a business comes after you start selling. Started my business with nothing but a story and then everything fell into place registering co., warehousing etc.

LuckyGamble said:
Yeah, but what good does it gives you to buy computers at discounted prices if you don't even know how to sell them?

You have to have a marketing plan first and then you can worry about all the paperwork.
Click to expand...

So as @LuckyGamble asked, what can you sell?

If you don't know which to start or what to sell, pick one you have affinity to and start... Once you find an unique angle you will start to sell and you'll have a business. The trying, figuring out what/how to sell and what market to sell to etc. is the challenge and long process. The co. registration is the easy part.
 
Read the journeys in journey section and pick up something you find interesting.
 
If you ask "What can I do?" - it probably means you're looking for directions or pointers. Sometimes it's good when it's specific, but sometimes it's just too generic and it means you need to have a boss to tell you what to do. So maybe entrepreneurship is not for you? What made you want to create a business?
 
I'd definietly go for some digital service or product... it's the easiest way to start, and dont need so much money from the start as well.. you can do it with 1-2k no problem
 
Or maybe you can just resell some stuff from china.. but that's a little harder biz to do when it should make you a living
 
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