Have you ever started a business?

[FelixDeCat]

If so, did it fail?

I started a business in 2008. Unfortunately it failed because I didnt follow the business plan. The bottom line was I supposed to be conservative but got greedy. Greed is not your friend people!

Lost $100,000+

How about you?

 

[Powermoloch]

I'm still in business, working with my parent

- Elder care w/ assist of ADLs

 

[FelixDeCat]

I'm still in business, working with my parent

- Elder care w/ assist of ADLs

Most new businesses fail. It was a good idea to join people with experience like your parents. Good for you.

 

[techs]

I, on the other hand, am living the American dream.
Twelve year old successful company. I survived 9-11, Bush and the Great Recession.

 

[FelixDeCat]

I, on the other hand, am living the American dream.
Twelve year old successful company. I survived 9-11, Bush and the Great Recession.

Congrats!

Is it a sales or service business?

 

[consolibyte]

You bet. ConsoliBYTE QuickBooks integration for shopping carts. Going strong a few years now, and only getting better!

Starting your own business is hard. It takes an enormous amount of time, effort, and discipline to really get going and make it worth it's while.

 

[FelixDeCat]

You bet. ConsoliBYTE QuickBooks integration for shopping carts. Going strong a few years now, and only getting better!

Starting your own business is hard. It takes an enormous amount of time, effort, and discipline to really get going and make it worth it's while.

Wow you are a super lurker! I agree that starting and especially running the business is hard. The biggest part is having the discipline to follow a business plan. Its very tempting to stray.

If you dont mind me asking, how do you generate leads?

 

[consolibyte]

Wow you are a super lurker! I agree that starting and especially running the business is hard. The biggest part is having the discipline to follow a business plan. Its very tempting to stray.

If you dont mind me asking, how do you generate leads?

We do a lot of QuickBooks open-source PHP programming work and a lot of word-of-mouth and cooperation/joint marketing with the shopping carts we work with.

Marketing is our weak point. We need to do more of it.

 

[ThePresence]

I freelanced for a long time, and did okay for most of it. Does that count?

I am currently a part-owner of a company, but it was started as a group.

 

[FelixDeCat]

I freelanced for a long time, and did okay for most of it. Does that count?

I am currently a part-owner of a company, but it was started as a group.

Well if youve made or are making money from it, it counts!

Everyone likes to talk about the negatives of partnerships, but if it makes sense to you and everyone else - why not?

 

[techs]

I, on the other hand, am living the American dream.
Twelve year old successful company. I survived 9-11, Bush and the Great Recession.

Congrats!

Is it a sales or service business?

Dunno? Where does hookers and blow fit?

Seriously, computer repair and consulting.

 

[DaveSimmons]

Sort of. I did some freelance programming and InstallShield setup work for people I knew in between my old employer being sold and my current employer hiring me.

That's not at all the same as trying to find new customers though.

 

[FelixDeCat]

Sort of. I did some freelance programming and InstallShield setup work for people I knew in between my old employer being sold and my current employer hiring me.

That's not at all the same as trying to find new customers though.

Interesting. Ive always liked the conveniece of InstallShield. Ill bet you could get business by advertising on CL if you were interested.

 

[highland145]

5.5 years now. But I had 18 years experience working for others and an excellent customer following. I could do this in my sleep for the most part.

 

[BoomerD]

No, but in my younger years, I closed many bars...

 

[zanejohnson]

5 years, sucessful in the fact that i still do it.. i made alot more money at times, however i put WAY more hours into it..

nowdays i just have a small, yet strong customer base, way less work, and ok income... enough to support myself easily at least...

 

[FelixDeCat]

5 years, sucessful in the fact that i still do it.. i made alot more money at times, however i put WAY more hours into it..

nowdays i just have a small, yet strong customer base, way less work, and ok income... enough to support myself easily at least...

Its always nice to read success stories. Thank you for your input. Out of curiousity, what kind of business is it?

 

[freegeeks]

I'm a freelance consultant mostly in networking (IP/MPLS stuff). Going strong for 3,5 years now.

 

[ThePresence]

Well if youve made or are making money from it, it counts!

Everyone likes to talk about the negatives of partnerships, but if it makes sense to you and everyone else - why not?

Groups do have a big downside. Which is why it's not a group any longer. Just me and a partner.

 

[Specop 007]

2, became owner of a third, all sold off or disbanded, no losses incurred.

 

[Iron Woode]

I am starting my own PC repair business.

I am still working on my website. It will be up soon.

 

[SagaLore]

Yep. Lasted about 6 months. I just couldn't stay focused enough to do what I needed to do, plus $900 burned up pretty quick. I should have gone with the original business idea I had (getting a vehicle and just making it mobile, rather than setting up a shop) but my ex talked me out of it. It most likely would have succeeded otherwise.

 

[FelixDeCat]

Yep. Lasted about 6 months. I just couldn't stay focused enough to do what I needed to do, plus $900 burned up pretty quick. I should have gone with the original business idea I had (getting a vehicle and just making it mobile, rather than setting up a shop) but my ex talked me out of it. It most likely would have succeeded otherwise.

I would gladly trade my six figure loss for your three figure loss. Unfortunately the business plan was capital intensive and there was no other way to do it.

According to the plan I was hoping to make about $3000 per month in a relatively conservative way. It can still be done to this day, but I dont have that kind of capital now. Far from it. Hopefully later this year, God willing, I *may* have at least $50k to work with again. It was hard taking that loss however and recovering has been equally hard considering last year my medical expenses ran close to $200,000.00.

Instead of making $3k per month, I went for something closer to $15k per month on just $100k. Suffice it to say, that was a bad idea. Of course hindsight is 20/20.

 

[FelixDeCat]

I am starting my own PC repair business.

I am still working on my website. It will be up soon.

If you dont mind, list it here. I would like to see the website of "Woode Industries Ltd."

 

[JS80]

I was selling $25k a month on eBay, 1/3 cost of sale, 1/3 ebay+paypal fees, rest misc. Net income 4%, ~$1k/mo, split among 2 people. Quit after a year.