Starting my own business
So as some people may have seen, I lost my job the other day. Unfortunately, that thread seems to be a victim of a UBB server hiccup so it has disappeared.
Any way, I looked around at possible job opportunities and decided that my best bet was to start my own business. After all, it's been something I've been thinking about for quite some time and was really only holding off on it since having a 9-5 job was 'stable and steady income'.
But in this uncertain market, I don't think that I'd have much luck at a computer company and if I did, it would probably only be for a short time. I've seen what's out there, and it's not pretty.
So what have I got to lose, right? It's not going to take much of an investment from me initially, mainly time. I wasn't planning on starting work again full time until May and this will give me a good amount of time to get going with my ideas (which I don't want to tell people about yet).
I've got my Dad who is a lawyer (in the computer industry, of course) looking into a few things for me while I start work on some of my ideas and redesigning my website.
I think it's going to be a good project of sorts and the worst thing that can happen is that I don't make any money. In that scenario, at least I gain some good experience in business and the stuff I'm working on. This is as opposed to working at a very low paying, non computer related job where I come out of the experience feeling like I wasted my time.
So is there any advice you would give me besides 'not starting my own business'?
Any way, I looked around at possible job opportunities and decided that my best bet was to start my own business. After all, it's been something I've been thinking about for quite some time and was really only holding off on it since having a 9-5 job was 'stable and steady income'.
But in this uncertain market, I don't think that I'd have much luck at a computer company and if I did, it would probably only be for a short time. I've seen what's out there, and it's not pretty.
So what have I got to lose, right? It's not going to take much of an investment from me initially, mainly time. I wasn't planning on starting work again full time until May and this will give me a good amount of time to get going with my ideas (which I don't want to tell people about yet).
I've got my Dad who is a lawyer (in the computer industry, of course) looking into a few things for me while I start work on some of my ideas and redesigning my website.
I think it's going to be a good project of sorts and the worst thing that can happen is that I don't make any money. In that scenario, at least I gain some good experience in business and the stuff I'm working on. This is as opposed to working at a very low paying, non computer related job where I come out of the experience feeling like I wasted my time.
So is there any advice you would give me besides 'not starting my own business'?
Comments
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So is there any advice you would give me besides 'not starting my own business'?
I would say to always give more to your customers than you have to. But to get the ball rolling in the first place I would say it is most important that you do not doubt yourself while looking at the ideas. Have this mindset in your head when you look at ideas:"I know how I can do this" if you do have a question about something you do not know on your own find the right person who can answer your questions and if that cost money it is worth every cent.
Remember you must have this attitude: "I know how I can do this" If you don't know how to (fill in the blank) then find the right person or group to inform you with the correct information. Sometimes get more than one opinion. With the power of these two sides of this equation there is nothing you can't do.
Start with ideas in your heart and go with them.
Fellowship
good luck,
work hard,
have fun
g
I hope the best for you
Get help with the economical stuff, a bookkeeper doesn't have to be expensive. Concentrate on what you actually know how to do. Keep expenses as low as possible.
Don't underestimate your hourly fees if thats the way your gonna get paid. Remember your billing people for all your non-productive hours as well, and maintaining your computer equipment.
Build up good liquidity, with this I mean: try to have cash for the next three months available. This will be hard in the start I know, but cash-flow is always slow. If you don't set aside some funds you'll always be chasing your bills.
The boring work always pays the best, the exciting work never pays as good, but brings in the boring/well-paying customers. Always try to balance it.
Always give out your card, always make the phone-call, don't write the mail.
Don't be to nice to customers, if you start giving away free stuff it's hard to quit. Focus instead on providing the best service you can. Never let one client represent to much of your income, this makes you vulnerable.
Having said this, don't be afraid to do work for free, to bring attention to yourself or your products. Just make sure to draw a clear line between free and paid work.
that''s it for now. I might be totally missing what kind of business your planning, and therefor this may all be irrelevant to you. (but it might benefit someone else)
Most businesses take about 2 years to run with a profit, but if the investments aren't to big (I take it you have some computer equipment already), you might be able to live of it straight away.
Anyway, just for the experience, its worth it. There is no magic in running a company, people do it every day.
oh, yeah, btw, never hire your best friends
(Unless you really know your able to work endless, irritating projects with them).
[ 03-01-2003: Message edited by: New ]</p>
google search for OpenEMR
Anyway, it would be cool to say "hey, we could use some experience" but it will be another year or so before I can say that.
[ 03-01-2003: Message edited by: RodUK ]</p>
i have been thinking about going into business for myself for years now, but being in canada on only a lowly work visa, i just didn't want to go through the hassle of seeing if it was even possible (which i highly doubt). plus, even though i hate my job and employers, it paid well, and i couldn't get fired if i wanted to...
that having been said, (and this seems as good a place as any to annouce it) my wife FINALLY got the job she was hoping for, teaching as an assitant professor down in new orleans, which is where we met and went to undergraduate! so now we're going back to a region we know, she'll be earning enough to float us both for at least a little while (kinda like i have been doing for her the past seven years), and i have a huge transition in life ahead.
so, hell, seems like this is the perfect time to start my own business. i mean, when the heck am i ever going to get the opportunity again, right?
unfortunately, i don't have a specific "widget" that i want to make. being in communications design, "design" is just a hard thing to quantify and commodify. mostly, i would like ot be a mentor to others like me who have been on the production side of design for a long time, but might not have a ton of formal training in school (and, like me, don't need to go through years of "weeding out" classes where the prof tells you that you suck for months to "toughen you up.") how do i quantify that? no idea. how do i sell that? even less of an idea...
but i am going to give it a go, and see what happens. worst case scenario, i go back to being a production artist to keep my skills up and play with macs for the rest of my life.
anyway, so i am looking for any advice people can give as well. like i know two of the first people i should either hire or find are a.) a lawyer (especially one who specializes in design and copyright law) and b.) and accountant ('cause i can't manage money worth crap). where does someone find these types of people? i'm guessing the yellow pages isn't an option.
also, is it worth my time to go bac to school to audit classes in both of those fields, just so i have some i dea of whether the people i get to help me aren't embezzling the company out from under me?
anyway, good luck, fran. maybe we can compare notes months from now.
(Old German 'Proverb', means that I wish you the best, aka luck)
advice?
new said it all!
i had a own company and we made all the misstakes that new pointed out.
print that one - and hang it at your desk!
good luck! do it!
Steal smart.
never ever pay retail.
hand your card out to everyone.
your friends are the best advertisements.
never say I can't do that. you can high some some who knows how.
do more than expected.
never doubt yourself.
flick.
<a href="http://www.adjectivegroup.com"; target="_blank">what I do</a>