Starting a Business

[KLHJ2]

Yes, don't do it unless you are willing to partake in a long period of anguish until it all pays off. It is a lot of work and very time consuming. Everyone wants to be paid off but nobody wants to pay you on time.

Make sure that you have enough start up cash to sustain yourself and operations for a long period of time. If you do not have as much start up cash as you projected as necessary in your business plan and lenders will not give you as much as you need because they are risk adverse; don't start operations. Chances are you will need as much cash or credit as you projected and possibly more.

Partners can be a good thing to alleveate financial burden, but be forwarned, some guys do not have the same vision or ethics as you do. Be prepared to fight many battles if you guys are not on the same page.

I would tell you more, but I am in a rush. I wish you luck.

[mlmdub130]

Originally Posted by Angry

Yes, don't do it unless you are willing to partake in a long period of anguish until it all pays off. It is a lot of work and very time consuming. Everyone wants to be paid off but nobody wants to pay you on time.

Make sure that you have enough start up cash to sustain yourself and operations for a long period of time. If you do not have as much start up cash as you projected as necessary in your business plan and lenders will not give you as much as you need because they are risk adverse; don't start operations. Chances are you will need as much cash or credit as you projected and possibly more.

Partners can be a good thing to alleveate financial burden, but be forwarned, some guys do not have the same vision or ethics as you do. Be prepared to fight many battles if you guys are not on the same page.
I would tell you more, but I am in a rush. I wish you luck.

all great advise and the bolded part is the best advice you could ever have. i recently left the company i started because my bussiness partners (my best friend and his dad) were completely worthless and unreliable. if you do get partners i would advise against them being anyone you are close to, it can drive you apart very quickly, and in my opinion it's not worth it.

[saden1]

Originally Posted by Angry

Yes, don't do it unless you are willing to partake in a long period of anguish until it all pays off. It is a lot of work and very time consuming. Everyone wants to be paid off but nobody wants to pay you on time.

Make sure that you have enough start up cash to sustain yourself and operations for a long period of time. If you do not have as much start up cash as you projected as necessary in your business plan and lenders will not give you as much as you need because they are risk adverse; don't start operations. Chances are you will need as much cash or credit as you projected and possibly more.

Partners can be a good thing to alleveate financial burden, but be forwarned, some guys do not have the same vision or ethics as you do. Be prepared to fight many battles if you guys are not on the same page.

I would tell you more, but I am in a rush. I wish you luck.

Great advise.