Starting Business

[WORKEROUTER]

Me and a buddy are starting our own moving business. For those of you who have business experience, have any tips or suggestions? Any pitfalls to avoid?

The goal, of course, is to make our business an "assett" and eventually be hiring people, and simply managing it, and thus "making money work for us," as Kiyosaki puts it.

Blatantly stated, I am tired of working for measly wages in someone else's business, barely scrap by to pay next month's rent, and make other people wealthy. It amazes me how many people are COMFORTABLE doing this and then start b*tching and whining about how the "system" f*cks everyone!

 

[diablo]

The first thing that comes to my mind is that you should set your business up as a LLC... otherwise, if it's just "You and your buddy's moving service" what's going to happen is you'll invariably scratch or damage something, or set something against the truck and have it fall on someone, then be sued into personal bankruptcy. So, either get insurance for this sort of thing or turn yourself into a limited liability corporation - all of the above will cost money, but thats just a price of doing business that I'm sure you've already looked at...

 

[Julian]

get ready to work your asses off and do 99.9% of the legwork for the next couple years.

 

[Page]

You're definitely on the right track. For sure think about incorporating or doing an LLC.

 

[cave dweller]

LLC....

Hey,

Research it and start a LLC.......

One lawsuit could wipe you both out, otherwise.

ie..... a customer or a worker trips and falls---it is all over.

my 2 cents

cave dweller

 

[Alpine]

You need detailed, quality advice. Many cities have business workshops, these are great and will instantly give you a network too.

Other than that, have a really good reason WHY you are doing it, it will drag you through the rough times.

I would do some sole searching about your current reason.

Is it not fair to say there are lots of employed people who are well paid? Did you know there are LOTS of self employed people who work 80+ hrs a week and are on less than minimum wage/hr?


Good Luck.

 

[LowPlainsDrifter]

Workerouter - I went from an unhappy "corporate wage slave" to someone who's doing rather well financially.

But the business I'm in was something part-time that I built up while working for someone else - taking advantage of the employer-paid health benefits, 401K, vacation time, etc.

There's some statistic about business failures - it sounds alarming, but it's inflated by many factors including business owners simply selling their enterprise, or closing a successful one down to try another.

I believe it's also inflated by people who just suddenly say, "hey, I'm tired of working for someone else," exit their job and immediately open up this new business, one which they have no experience with, no gameplan for, and not much financing, either.