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Start up failure options
Posted on 3/28/24 at 8:08 am
Posted on 3/28/24 at 8:08 am
Been trying to start this business for about a year now. A lot of it is who you know and then those gatekeepers convincing corporate. I don’t know anyone except the connections I’ve made through going talk in person, delivering coffees and food, writing snail mail to the corporate office, etc…
I have had some companies be very close to closing and bringing me on as a vendor but went with the local established guy every time.
Should I do as Kevin O’Leary says and take it behind the barn and shoot it or keep pursuing it?
It’s a very high passive income opportunity that does not take but one college age employee to do the work.
I have had some companies be very close to closing and bringing me on as a vendor but went with the local established guy every time.
Should I do as Kevin O’Leary says and take it behind the barn and shoot it or keep pursuing it?
It’s a very high passive income opportunity that does not take but one college age employee to do the work.
4
Posted on 3/28/24 at 8:10 am to BayouBengal23
Maybe. Maybe not. What type of business is it? What is it costing you to try and get it running? Sounds like a damn snoball stand or a pressure washer business 
From the limited info provided, it seems like you need to go do some dick sucking to get this thing going.
From the limited info provided, it seems like you need to go do some dick sucking to get this thing going.
This post was edited on 3/28/24 at 8:13 am
Posted on 3/28/24 at 8:32 am to BayouBengal23
This sounds like vending machines
Posted on 3/28/24 at 8:35 am to thunderbird1100
Mintak?
Posted on 3/28/24 at 9:13 am to TigerMan327
Rather not spill the beans but it’s a service based business for large commercial properties. Similar to a cleaning company
Posted on 3/28/24 at 9:26 am to BayouBengal23
quote:
Rather not spill the beans but it’s a service based business for large commercial properties. Similar to a cleaning company
If they are going with the "local guy every time" then there are no beans to spill. Others are obviously doing that.
Having said that and in being a business owner, I would say it takes 1 to 2 years to become profitable. We purchased another business about a year ago that was horribly managed. It was going to close. In about a years time, We are still not paying ourselves from it even though it appears we have turned that business around.
Posted on 3/28/24 at 10:01 am to BayouBengal23
quote:
Been trying to start this business for about a year now. A lot of it is who you know and then those gatekeepers convincing corporate. I don’t know anyone except the connections I’ve made through going talk in person, delivering coffees and food, writing snail mail to the corporate office, etc…
A new business takes time to make money, and that's if you have connections ready to go from day 1.
If you are starting at actual zero, 2-3 years to get going is not out of the ordinary.
Only you can decide if you want to spend that much time on this.
Posted on 3/28/24 at 10:32 am to BayouBengal23
quote:Hate to say it, but products such as this sometimes dont get much attention, nor do they cost much to a business. And if it is a necessary service, why risk a startup for very little savings or differentiators.
It’s a very high passive income opportunity that does not take but one college age employee to do the work.
Do something different, more efficient, neater, cleaner, maybe not a college student but an established senior retiree? Maybe a tact such as an older employee versus younger would allow you to frame your company as responsible, safe, and trustworthy.
You have to have SOMETHING to sell beyond the service. Hell, ask the potential client if they have any one in mind that needs a great job as you are growing?
Dont deliver coffee or form a partnership until after they sign. Then dont forget them.
I started a business from zero 6 years ago. We now have over 550 customers. Most from connections prior and just now have we built a company that can go out and compete for customers.
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