investor or consultant ?

Discussion in 'General Flooring Chat' started by A.Mahmood, Jun 21, 2013.

  1. A.Mahmood

    A.Mahmood Well-Known Member

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    I joined this site to learn more about the flooring industry as I am starting up a new business targeting a different market to one I'm selling at the moment but I realised to achive what I want I'm gona need a person who's more knowledge and experienced then me so now im confused about what would be best employ some sort of consultant or get some one and give them small stake in the new business for free ?
     
  2. Nk1

    Nk1 Well-Known Member

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    I believe Adam said you were 2nd generation flooring business owners. Doesn't anyone older than you have more knowledge to help you out? Keep it in the family rather than give a stake to someone else. If the person has a stake for free and no money to lose, how much drive will he/ she actually have for that business. How many hours will they work?
     
  3. UVcure

    UVcure Well-Known Member

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    It depend who the person is, with partnerships it's better if you both bring different things to the table, normally it means you need each other. You can still be committed without investing money, especially if its a new venture and the rewards are equal ,

    But your right it depends on time needed, already successful people might not have the time or the need. But some need/like to do it just for the challenge of building a new business.
     
  4. Distinctive Adam

    Distinctive Adam Well-Known Member

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    My advice would be have a chat with a few sales agents who know the industry who happen to be self employed and see if they fancy working for you in the new business role, keeping you at the top of the tree and also gaining someone with vast knowledge who will also want it to succeed to the earn extra £££ !! (I'll have 5% for that tip tho!!)
     
  5. Matt

    Matt Well-Known Member Staff Member

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    My advice would be -

    well to start, if its your buissness and you want to be top end then employing people who you 'presume' might know more than you is destining to fail.

    Personally i would be look at yourself first. If you want to charge good money and be top end then YOU need to know about the trade and you need to know if the people you employ are actually good at what they do.

    Get yourself down FloorSkills and do the courses yourself. Once you have learnt then you will be in a much better postion to employ the right people and you will know what to order and what you should be supplying on jobs for the installers to do a proper job.
     
  6. swerve

    swerve Well-Known Member

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    That's the difference though, you could have all the certificates in the world to cover the trade that it applys but could be a hopeless business man. Good business people do not know the ins and outs of everything but DO know they need the right people for specific roles, to make their business progress and prosper.
    Has Lord Harris love him or loath him ever fitted a carpet in his life?
     
  7. tarkett85

    tarkett85 Well-Known Member

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    no but neither have his "fitters" :cool:
     
  8. A.Mahmood

    A.Mahmood Well-Known Member

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    I offer it to you mate but wont be able to afford you with your expertise lol
     
  9. A.Mahmood

    A.Mahmood Well-Known Member

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    Instead of fitting courses I be more interested in bespoke training, if that could be arranged I be more then willing to do it to improve my knowledge
     
  10. Spacey

    Spacey Super Moderator Staff Member

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    I think a bespoke course is a great idea but installation/subfloor prep would have to be a major part of it as well as product knowledge !
     
  11. Distinctive Adam

    Distinctive Adam Well-Known Member

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    12.07.2013 floor skills open day, be worth the visit.
     
  12. Distinctive Adam

    Distinctive Adam Well-Known Member

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    Lol, just the 5% then !!
     
  13. Nk1

    Nk1 Well-Known Member

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    Brilliant Tarkett.
     
  14. A.Mahmood

    A.Mahmood Well-Known Member

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    Try to make it if possible
     

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