Starting a business
Out of context: Reply #4
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- eryx1
Things I have learned because of the Mistakes I have made:
1. Lack of planning - Have a plan for the first year of your business. Figure out everything you need and what it will cost, then double it.
2. Partnership - Going into business with someone is very difficult, especially if you are friends. Have clear defined rolls and objectives. If possible do not get investors or go into partnership, this make things easier in the long run.
3. Get a good lawyer and accountant - These are expensive because they are worth it. At least meet with both of them to figure out what you need.
4. Pay your taxes - Your plan should include paying your taxes, you can get yourself into trouble if you don't.
5. Get insight from other - Talk to other people who have done something similar to what you are about to try. Don't put too much stock into someone who has not started a business but listen. What works for someone else might not work for you. Hear all trust nothing.
6. Organize - Stay organized as much as possible. Don't put off your paperwork. There are a ton of useful people and technology for this. Personally I find that if I spend money on things that save me time trying to remain organized then it is worth it.
7. Don't half ass it - I would say that most of my failures in business were due to not putting enough work in or putting to much work into the wrong thing. Because you have a plan and because you are organized you can see if you are succeeding and if not you will know where your need to work harder.
hope this helps
- Thanks!kgvs72
- well saidPonyBoy
- Great adviceGlitterati_Duane
- Never assume that others have the same work ethic you have. Cut your expectations in half.spendogg
- ^yeseryx
- Start small & scale; home-based then grow out. Don't start with a pricely lease. Don't start with lawyers/accts; they will be the first to gouge you.BustySaintClaire