IT Contractor Makes Fortune
A contractor makes fortune from holiday idea.
In the nineties John Brewer was an IT Contractor earning 100 grand a year.
His flatmate Craig Burkinshaw went on a backpacking holiday to Vietnam and loved it so much he put ads in newspapers offering to act as a guide for other people. That’s as long as they split his costs between them.
After a while, he thought he might have a bit of a business here. So he mentioned it to his flatmate John Brewer.
The two of them pooled their resources raising £37,000 to start the business, but, as with most of these things, it was slower to take off than they had hoped.
So, they agreed that Craig would continue setting up the business whilst John would continue with his IT Contracting career, putting the profits into the travel business.
It took about 5 years before the business really got going. During this time John continued to work as an IT Contractor.
They have new expanded into Latin America too.
Earning Money as an IT Contractor
The money that John was earning as an IT Contractor was absolutely crucial to the success of the business.
It is Cash Flow problems that kill most small businesses.
Most start-up businesses that go bust are still expanding. However, not as fast as those that set them up had calculated. Usually the money runs out whilst the businesses is still growing and the companies go belly up.
The company, Audley Travel employs 200 people now and turns over £37m a year,
This is a very good model for IT Contractors who want to set up a businesses.
I found, when I set up ITContractor.com that the growth was slower than I thought it would be at the start.
I ended up selling my flat in Maida Vale, London to cover the costs of having little in income at the start.
It’s always harder than you think and there were times when I wondered what I had got myself into.
However, it all turned out well in the end – although not to the extent of John Brewer’s company.
If you are setting up a business it might be as well to do it in conjunction with a contractor friend who would continue working while the business is being set up. Unless, of course, you have ample funds with which to set up on your own.