How do ppl start their own company?
11-22-2020, 04:10 PM
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#1
11-22-2020, 04:15 PM
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#2
- OliverHeldens
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The first is always the hardest, and usually it just kinda happens by accident. Once you kinda learn what it takes to start something from the ground up, it becomes really easy to replicate as there are some fairly constant items that will make sure you get ahead.
11-22-2020, 04:17 PM
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#3
- Nonsense916
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- Nonsense916
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Very difficult at first srs
Losers let it happen, winners make it happen.
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11-22-2020, 04:18 PM
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#4
- helpmee
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- helpmee
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Now is the time. BECAUSE of the "virus" I just passed over 400k this year with my sporting goods store. Commercial/retail leases will not be cheaper and landlord will be less strict with qualifications.
Start a corp. Do it part time to start. Hire one person you trust but do not give them control over accounts and see what happens. Sign the lease in the corp name and do not personally guarantee anything. Do not do something stupid like a restaurant or bar or club or gym even pre or post covid.
Start a corp. Do it part time to start. Hire one person you trust but do not give them control over accounts and see what happens. Sign the lease in the corp name and do not personally guarantee anything. Do not do something stupid like a restaurant or bar or club or gym even pre or post covid.
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11-22-2020, 04:23 PM
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#5
- bluebeltATT
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- bluebeltATT
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it usually starts on a small scale, like a mechanic who can fix anything on a car, he starts by fixing friends cars, then he fixes friends of friends cars, then it escalates to people he doesn't know, then he has to open a shop, then he has to hire employees, then he has to expand, then he becomes CEO, then he puts his business on the stock market....
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11-22-2020, 04:25 PM
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#6
Think about it like this. All a business is , is replicable sales. Without sales, you ain't got chit. Without consistent and somewhat predictable sales, you barely got chit. Registering an LLC can come later and even that takes like 10 minutes.
My advice: Come up with a product or service first. Then try to sell it. If you keep making consistent deals, now you're officially in business. Don't over complicate this chit pleighboi
My advice: Come up with a product or service first. Then try to sell it. If you keep making consistent deals, now you're officially in business. Don't over complicate this chit pleighboi
11-22-2020, 04:25 PM
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#7
- mk2kh
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- mk2kh
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Originally Posted By helpmee⏩
Whats a corp and how do i start wat r the stepsNow is the time. BECAUSE of the "virus" I just passed over 400k this year with my sporting goods store. Commercial/retail leases will not be cheaper and landlord will be less strict with qualifications.
Start a corp. Do it part time to start. Hire one person you trust but do not give them control over accounts and see what happens. Sign the lease in the corp name and do not personally guarantee anything. Do not do something stupid like a restaurant or bar or club or gym even pre or post covid.
Start a corp. Do it part time to start. Hire one person you trust but do not give them control over accounts and see what happens. Sign the lease in the corp name and do not personally guarantee anything. Do not do something stupid like a restaurant or bar or club or gym even pre or post covid.
11-22-2020, 04:25 PM
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#8
Originally Posted By bluebeltATT⏩
thisit usually starts on a small scale, like a mechanic who can fix anything on a car, he starts by fixing friends cars, then he fixes friends of friends cars, then it escalates to people he doesn't know, then he has to open a shop, then he has to hire employees, then he has to expand, then he becomes CEO, then he puts his business on the stock market....
11-22-2020, 04:28 PM
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#9
- Tough92
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- Tough92
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Originally Posted By LesbianGuy⏩
Possible this or also im thinkingNot sure but I can tell you the best way that I first hand got a chance to see were the cases when it was right time right place right person. Person A who is a very good chef from Italy is looking for a job in the USA, person B (who hears about person A through a friend) goes "fuk it, ill put 2/3 of the money and we open a restaurant together" and BOOM you got a thing going, if you market it right and the guy is good, 0 chance of faliure
1.Daddy's money and/or Daddy gives the business to his son
2.Someone is really creative knows everything from top to bottom about the business or company they wanna open and they shoot their shot. As for money if they have it good if not im not sure what they do maybe take a loan? There is no way someone can open up a restaurant unless they have legit 100k+ in lump sum cash
"The greatest pleasure in life is doing what people say you cannot do"
11-22-2020, 04:38 PM
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#10
- Jasonw1178
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- Jasonw1178
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Looking into it myself. The more money you have up front the easier it is but it's not everything because you have to know what you are doing to make it work.
11-22-2020, 04:42 PM
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#11
- BroIncorporated
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- BroIncorporated
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I read a lot of books and ultimately started my own LLC, ecommerce. Selling things online. It's something that is only going to grow bigger and bigger in our lifetimes.
Don't over complicate it, it's really as simple as getting licensing and just learning as you go.
If you're offering a service, it should be mobile. You want to bring your service to them, not the other way around.
If you're offering a product, it should be online. No brick and mortar.
Don't over complicate it, it's really as simple as getting licensing and just learning as you go.
If you're offering a service, it should be mobile. You want to bring your service to them, not the other way around.
If you're offering a product, it should be online. No brick and mortar.
U aware?
11-22-2020, 04:43 PM
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#12
- SoutheastBeast1
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You start by registering an LLC
"One day I won't be able to lift any more. Not I won't want to lift. I mean physically unable. That day could be decades from now or it could be tomorrow. All I know is that's the day I'll wish I could lift more than ever. The day I'd give anything for one more workout, one more set, or one more cardio session. So go hard and enjoy every workout, every set, every rep. Because one day you will wake up and you will never get it back."
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11-22-2020, 04:45 PM
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#13
Originally Posted By OliverHeldens⏩
All of this is very true.The first is always the hardest, and usually it just kinda happens by accident. Once you kinda learn what it takes to start something from the ground up, it becomes really easy to replicate as there are some fairly constant items that will make sure you get ahead.
11-22-2020, 04:45 PM
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#14
I started a small retail business ~2 years ago.
When I started, I understood the business and margins well, because I worked in a similar business.
The hard part was building a customer base. I knew nothing about marketing my business, but I managed to make it work.
Any questions?
When I started, I understood the business and margins well, because I worked in a similar business.
The hard part was building a customer base. I knew nothing about marketing my business, but I managed to make it work.
Any questions?
11-22-2020, 05:03 PM
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#15
- Tough92
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- Tough92
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Originally Posted By rgnx⏩
So many why dont you post some tips in generalI started a small retail business ~2 years ago.
When I started, I understood the business and margins well, because I worked in a similar business.
The hard part was building a customer base. I knew nothing about marketing my business, but I managed to make it work.
Any questions?
When I started, I understood the business and margins well, because I worked in a similar business.
The hard part was building a customer base. I knew nothing about marketing my business, but I managed to make it work.
Any questions?
also what was youre biggest struggle in the beginning
"The greatest pleasure in life is doing what people say you cannot do"
11-22-2020, 05:15 PM
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#16
Originally Posted By Tough92⏩
I seriously struggled for at least a year before things got okay, then things quickly got good.So many why dont you post some tips in general
also what was youre biggest struggle in the beginning
also what was youre biggest struggle in the beginning
My personal problems I had:
not having enough capital, I ran out of money quick, and didn't have enough product to compete with other businesses. Luckily I was able to borrow small amounts from family (~$500/month)
no marketing plan. I had zero 'clients' or customers when I started my business. As a retail store, you obviously need people coming in.
I went from one customer every other day -> one customer a day average for a month -> two customer a day average for a month -> to where i am now with ~40 customers a day average.
It was brutal back then, I would sit in my store all day alone for 1 customer who I didn't even know would show up.
11-22-2020, 05:24 PM
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#17
11-22-2020, 05:25 PM
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#18
- climberbrah
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- climberbrah
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Originally Posted By SoutheastBeast1⏩
people get too wrapped up in this. if you selling a service to people you have started a business. the legal entity formation doesnt have to come first (srs)You start by registering an LLC
11-22-2020, 05:28 PM
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#19
Originally Posted By climberbrah⏩
thispeople get too wrapped up in this. if you selling a service to people you have started a business. the legal entity formation doesnt have to come first (srs)
Just sell something brehs. Start there
11-22-2020, 05:32 PM
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#20
- r32gojirra
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- r32gojirra
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Originally Posted By climberbrah⏩
I think he was just being literal but agree with your pointpeople get too wrapped up in this. if you selling a service to people you have started a business. the legal entity formation doesnt have to come first (srs)
Start by creating value and if it has legs the specific vehicle (partnership, trust, company) will sort itself out
Originally Posted By Prolapse916⏩
Im curious do the articles of incorporation actually reference giving blowjobs for loose change in the men’s roomVery difficult at first srs
Or is it just “personal services”
11-22-2020, 05:38 PM
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#21
- Tough92
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- Tough92
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Originally Posted By rgnx⏩
Awesome man, what kind of retail store do you own or what do you sell exactly?I seriously struggled for at least a year before things got okay, then things quickly got good.
My personal problems I had:
not having enough capital, I ran out of money quick, and didn't have enough product to compete with other businesses. Luckily I was able to borrow small amounts from family (~$500/month)
no marketing plan. I had zero 'clients' or customers when I started my business. As a retail store, you obviously need people coming in.
I went from one customer every other day -> one customer a day average for a month -> two customer a day average for a month -> to where i am now with ~40 customers a day average.
It was brutal back then, I would sit in my store all day alone for 1 customer who I didn't even know would show up.
My personal problems I had:
not having enough capital, I ran out of money quick, and didn't have enough product to compete with other businesses. Luckily I was able to borrow small amounts from family (~$500/month)
no marketing plan. I had zero 'clients' or customers when I started my business. As a retail store, you obviously need people coming in.
I went from one customer every other day -> one customer a day average for a month -> two customer a day average for a month -> to where i am now with ~40 customers a day average.
It was brutal back then, I would sit in my store all day alone for 1 customer who I didn't even know would show up.
I’m getting a lump sum of money 50k+ and wanna do something with it. I just don’t know where to start or if it’s even enough money
"The greatest pleasure in life is doing what people say you cannot do"
11-22-2020, 05:38 PM
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#22
- JustiNtense
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You start by learning how to spell.
11-22-2020, 05:51 PM
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#23
- Smegmalion
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- Smegmalion
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You just do it, srs.
I registered as a DBA, or fictitious business name, as a start. That’s all I would do, when you know what you’re business is. Now I’m an LLC, but don’t be one of those *******s who registers an LLC, which will obnoxiously be named something like “Sherwin Ventures” or “Schenk Enterprises”. They just want to feel superior and be able to say oh yeah I have an LLC.
To my original point, just do it. Don’t do something you are passionate about. Do something you think has a good shot at working, and just do it. Google anything you don’t know how to do, and make sure you’re making money. Easy as that.
I registered as a DBA, or fictitious business name, as a start. That’s all I would do, when you know what you’re business is. Now I’m an LLC, but don’t be one of those *******s who registers an LLC, which will obnoxiously be named something like “Sherwin Ventures” or “Schenk Enterprises”. They just want to feel superior and be able to say oh yeah I have an LLC.
To my original point, just do it. Don’t do something you are passionate about. Do something you think has a good shot at working, and just do it. Google anything you don’t know how to do, and make sure you’re making money. Easy as that.
Entire NYPD should go on strike. You'll see then how quickly the mayor changes his tone.
"Dig with your hands, not with your mouths"
Entire NYPD should go on strike. You'll see then how quickly the mayor changes his tone.
11-22-2020, 07:34 PM
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#24
- mk2kh
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- mk2kh
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Originally Posted By Smegmalion⏩
What business do u hv exactly? Also how much money did u hv initially?You just do it, srs.
I registered as a DBA, or fictitious business name, as a start. That’s all I would do, when you know what you’re business is. Now I’m an LLC, but don’t be one of those *******s who registers an LLC, which will obnoxiously be named something like “Sherwin Ventures” or “Schenk Enterprises”. They just want to feel superior and be able to say oh yeah I have an LLC.
To my original point, just do it. Don’t do something you are passionate about. Do something you think has a good shot at working, and just do it. Google anything you don’t know how to do, and make sure you’re making money. Easy as that.
I registered as a DBA, or fictitious business name, as a start. That’s all I would do, when you know what you’re business is. Now I’m an LLC, but don’t be one of those *******s who registers an LLC, which will obnoxiously be named something like “Sherwin Ventures” or “Schenk Enterprises”. They just want to feel superior and be able to say oh yeah I have an LLC.
To my original point, just do it. Don’t do something you are passionate about. Do something you think has a good shot at working, and just do it. Google anything you don’t know how to do, and make sure you’re making money. Easy as that.
11-22-2020, 07:36 PM
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#25
- mk2kh
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- mk2kh
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Originally Posted By rgnx⏩
What business do u hv exactly?I started a small retail business ~2 years ago.
When I started, I understood the business and margins well, because I worked in a similar business.
The hard part was building a customer base. I knew nothing about marketing my business, but I managed to make it work.
Any questions?
When I started, I understood the business and margins well, because I worked in a similar business.
The hard part was building a customer base. I knew nothing about marketing my business, but I managed to make it work.
Any questions?
How much money did u hv initially?
Wer u doing another job on the side to make ends meet?
Can u share the steps/process of setting up ur business?
11-22-2020, 07:37 PM
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#26
11-22-2020, 07:58 PM
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#27
- Slamt
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- Slamt
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This guy has a lot of stories like this one if you want to get inspirations.
The most common theme is
-That you need an idea/product, doesn't even have to be new, could just be something that you improved. Make sure it's scale-able.
-Gather up capital for when **** hits the fan or doesn't turn out like you expected. Nearly all of restaurants suffer losses in their first few years or some chit like that.
-Work your ass off
-Marketing is important/packaging your products is important.
If you find yourself lacking in any of those areas, find a partner that can fill in that lapse and bounce ideas off each other.
11-22-2020, 09:42 PM
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#28
- plsmire
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- plsmire
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As someone said above, it’s all about repeatable sales. It’s even more important than the product or service itself - you can always improve of those if you have enough suckers lining up to buy. If you can’t ring the cash register though, you’ll be out of business real fast. Or worse, you self-find to keep the business afloat and go into massive debt.
So the steps IMO are:
1) figure out what you’re selling - products, service, both.
2) identify a product - market fit - is there a market for what you’re selling, are they lining up for it, are you going to have to bring awareness to it or do you have major competitive edge?
3) figure out the route to market - how will you get it in front of as many customers as possible, project some numbers, how many will turn into sales etc.
4) figure out how you will scale product/service to accommodate the projected numbers in point 3 whilst maintaining the required quality to not lose those numbers, you can skip this but you could get caught with your pants down.
5) once you have all of the above - sell and fulfil. You’re in business. From there on, it’s just about optimising the business and increasing profits by; scaling production, hiring more staff, scaling marketing, building brand and reputation, improving the products quality, improving production efficiency etc.
Point 5 is also when you should be looking to investors if it’s that type of business. You massively undervalue it if you go for investors prior to that.
So the steps IMO are:
1) figure out what you’re selling - products, service, both.
2) identify a product - market fit - is there a market for what you’re selling, are they lining up for it, are you going to have to bring awareness to it or do you have major competitive edge?
3) figure out the route to market - how will you get it in front of as many customers as possible, project some numbers, how many will turn into sales etc.
4) figure out how you will scale product/service to accommodate the projected numbers in point 3 whilst maintaining the required quality to not lose those numbers, you can skip this but you could get caught with your pants down.
5) once you have all of the above - sell and fulfil. You’re in business. From there on, it’s just about optimising the business and increasing profits by; scaling production, hiring more staff, scaling marketing, building brand and reputation, improving the products quality, improving production efficiency etc.
Point 5 is also when you should be looking to investors if it’s that type of business. You massively undervalue it if you go for investors prior to that.
11-23-2020, 10:10 AM
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#29
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