This is my 1st diary entry.  Not sure what to expect of this section, but I am hoping it will aid me in getting things started in terms of a business - Could be a very boring blog so I apologies upfront now.  I will aim to update as often as possible.

This is the first day of my new entrepreneurial life!  Now all I need is a business idea and the ability to pull it off.

Initial strategy

Start small, something I can do at weekends/evenings, so not to give up my job and income

Maybe On-Line to maximise sales, but not tie myself to an office or phone in the early stages

Aim to pull in £200 per month as a good starting place, just £10 per day.

Initial Ideas

The next Michael Dell?  I thought about building PC's and selling them on-line and locally.  I would source parts initially from dabs.com. My advantage would be low margins and good customer service. For local sales I could install then FOC.

I priced up a basic PC and added 20% margin.  A quick look on E-Bay showed me that my price may well be too high and there was also huge competition in this area.  Maybe selling locally would be the best approach.  Also I would need to source parts at cost price, not from a retailer like dabs.

At 20% for a basic PC, I could make around £40.00 I think.  So for the target take of £200 I need to sell 5 PC's per month. A tall order to start with, but doable in time.  I now plan to put one on E-Bay to test the water and see what interest if any it generates.  I will not purchase the parts unless it sells, then a quick turn around of buy parts, build and ship, so free market research.

I suspect it may not sell, but it is only going to cost a 20p insertion fee, so worth ago.