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Old 05-21-2006, 02:43 AM
Jim T Jim T is offline
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Join Date: Nov 2004
Posts: 537
Default Re: Planning on starting a business, any advice?

It doesn't seem to me that you have any idea what you are doing or thinking about getting into. I guess asking for advice (even from anonymous complete strangers) is somewhat of a good sign. I have no idea what your financial status is, but unless you are able to finance everything yourself, I'd think that the chances of finding funding are about nil anyway. And if you DO have the personal funds, I would advise you to save your money.

If you really want to go into business for yourself, find something where you can start small and build it up. That way when you screw up - and you WILL screw up, many times - you won't cost yourself that much, and the lessons you learn will likely be more valuable than the money you lose.

Finally, having a partner (or two) who has skills which complement your own is invaluable. Just make sure that you can trust them.

My wife and I started our business in 2000, and had sales of about 20K. Last year we did over 2M. We've been profitable from Day 1, but if we'd actually had the money to start out bigger I honestly think we'd have gone broke, crazy, or both. We came close enough as it was.
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