re: Who here has started their own business?

Talking about business owners. Most business owners should have expertise in their field.

idk why you would argue with VABuckeye...he has his own business, which means his experience demonstrates the way it must be done.

quote:

---

I know someone who opened a taqueria. White dude, accountant, never worked in a kitchen or a restaurant.

---

Then he has a good head on his shoulders because a restaurant is about as risky as it gets. I presume that he knew how to cook or was smart enough to hire a good cook, correct?

I think with your examples we are talking about completely different levels of businesses.

And it's all just discussion. That's what these boards are for right?

ETA: I'll readily admit that I can be heavy handed in my views when it's something I believe in. We all have our faults.

Hey, if he's making the restaurant work then more power to him. Though I love to cook I don't think it's a business I'd be willing to dive into.

Well, maybe a little grill shack on an island where I have no competition. Then again, I might not have many customers either.

Sounds like this thread has some big dawgs weighing in,
I love the advice and the experiences shared so far.
Would love for this thread to continue.

quote:

---

theicebox

---

quote:

---

Sounds like this thread has some big dawgs weighing in,
I love the advice and the experiences shared so far.
Would love for this thread to continue.

---

We've got some pretty successful heavyweights around here on the MT. Dabigfella went and created his own slack channel with some crypto aficionados awhile back and sort've spun off a bootleg community of MT folks and I'm sure some other like-minded types. Wish they still contributed a bit as they bring some good perspective. I know dabigfella specifically had a string of businesses and had his hands in a coupla few different things within tthem that made for some unique insight.

But I agree that this thread is awesome. I think one of the big things for entrepreneurs is to spend time around other entrepreneurs. Not just at the Rotary Club or Chamber of Commerce or whatever. Just sitting down, eating lunch, or posting about our experiences like this.

A lot of guys are laser focused on their business and locked in to every detail. I think that's useful. But I also wonder if that level of sharp, tight focus sometimes prevents folks from scaling more quickly or as efficiently. Or maybe its worked perfectly for exactly that.

I just enjoy hearing different perspectives of folks who have done it many different ways. People at varying stages. Some successful, some still going uphill-some fast, some slow-and some who are at the top and still hungry for more.

Thanks for sharing, everyone.

You got a generic email you can post up? I’d post mine but it’s my first and last name lol.

I’m in the somewhat in the viticulture business, dealing with infrastructure for growing, attend most the winery expos on the east Coast. I’ll stop by your place next time I’m around Tampa. And we can talk turkey as well.

My story is interesting because I talked about being under capitalized as a big reason businesses fail.

We started our business on a deposit for a job. The company that gave us the deposit (a data center) loved our work and turned into our biggest client. We were very fortunate that they were excellent payers. Once I invoiced a job the money was in my bank account generally within two weeks. Obviously, companies like that are the exception and not the rule. However, I do still have a few clients that are very quick payers.

I don't know what type of business you want to start so it's a bit tough to give money advice. Is it inventory intensive? Money sitting on the shelves can hurt a company badly. Is it a service related company where you'll be selling yourself and your expertise or a pool of labor? I believe that Jose Vargas has a staffing company and from what I can tell he is doing very well.

My advice would be to be as lean as possible. Treat every dime at the beginning as if it's your last dime. Attend free networking events to get your name out there. Quote every job no matter how insignificant it may seem. Our biggest client came from a tiny job. In our business we always communicate with the other trades on the sites. We made some valuable allies that way.

We're heading into year 9 and we still don't have a space. I'm fortunate that one client allows me to use some of their space but that's rare and there's no need for us to ever meet clients at our "office" so it's not a big deal for us to go without a space.

I started my own micro business—it is profitable, and it fits into the margins of my work week around a PT professional job providing benefits. Not every business needs to be huge, nor does every business need to grow beyond your goals. It’s your business—so if XX monthly meets your needs, there is no reason to be chasing more if it doesn’t fit your overall plan.

Entrepreneurship comes in many forms—it doesn’t have to be your primary source of income to be consistently successful or profitable. I keep my little project small scale so it doesn’t overwhelm my work-life balance, and the profits fund my world travels.

Figure out what YOU want to do.....and build a business that makes you happy. Not everyone is trying to retire at 40, or earn enough for the next three generations. Some of us are working at various things to create opportunities in other areas of life.

IOW, bigger isn’t always better, and it is entirely possible to have a profitable, small-scale enterprise.