The Waterside man has been given the top job at Championship side Dergview and he admits things are going to be tough, but it's a challenge he's going to relish.
"At the minute I'm somewhat thrown in at the deep end, because I have only taken over a few weeks ago," said Colhoun.
"I'm enjoy things but I know there is a lot of work to be done, however I'm going to relish being the boss.
"Having worked at Institute and Limavady United as reserve manager, I really couldn't make any decisions as I was working for the first team managers, but that will be different at Dergview."
Colhoun also admits that the County Tyrone out-fit reminds him of 'Stute, because of all the hard work, which goes on behind the scenes
"To be honest that was one of the main reason's why I took the job, they have a loyal band of committee members who are also supporters of the club and do everything they can to improve the club. "Like at Institute they have a hard working committee and having met their president last week I could see it in his eyes that Dergview means a lot to him."
Colhoun knows that he has a lot of hard work ahead of him, having lost the likes of duo Andrew Sproule and Gareth Porter to Portadown, while Ronnie McFall's men are also trying to prise a few others away, while Dergview's home games will be staged at the Riverside Stadium, until improvements at their ground are complete.
"Obviously we have lost a few players from last season, but we have to get on with it.
"I feel this year is all about making the club stable at this level and then possibly look to build on that for the future. We'll find out very quickly were we are at as we have a tough start.
"We start at home to Donegal Celtic on Saturday, August 2, before travelling to Limavady United on the Tuesday, then it's home to Loughgall before going to Shamrock Park, on Saturday, August 16."