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Who has their own business?

S

Soybomb

Diamond Member
So who here owns their own business? What do you do? How did you get the money to start it? How old were you?

I've been debating alot of different business ideas for sometime, and really like the idea of my own ISP, but I'm 20 so funding is a problem. I'll doubt I'll be able to get many loans due to my age. Just curious what others have done to give me some food for thought! 🙂
 


<< and really like the idea of my own ISP >>

from what I've read that's a brutal business to get into, especially since you're now competing with AOL, MSN, Earthlink, and your local phone company.

I do some consulting / software development work on the side, but it's all been referrals from people who know me from my old employer -- I've never actually gone out and looked for consulting jobs. With the work I've done (VC++, VB, and ASP programming) I already had the tools I needed (a PC, a server, and Visual Studio) so I didn't need to buy anything or get a loan.

I'd say choose very carefully, and be especially suspicious of any kind of "franchise" business (like those offered at business expos). Many of them are scams, or end up that you make next to nothing (less than you'd make at McD) while they get the franchise fee and make big money on selling you the parts / supplies / bagel mix / whatever.
 
Either way, do whatcha know. I recently started a graphic design business that's currently doing very well. No matter what you pick to do, make sure it's something you enjoy, and something that won't grow old quickly. 🙂
 
I have my own business.. me and a friend of mine started an in house computer biz, we try to cater to gamers and high power users and the business is only known through word of mouth, i was 20 when we started it .. (i'll be 21 in may) and my friend was 22. it's kinda cool having your own biz even if it's a small basement business.. i like having the vendors permit slip, it makes me feel big and powerful.. 😀

heh
 
I don't technically own a business, but I am self employed. I deliver newspapers. Ha ha. Don't laugh. It pays nearly $1500 a month(on top of full time salary) and it allows me to write off my car payments, 15% of my mortgage, 15% of all utilities(minus phone line), a good chunk of my car insurance, and a whole slew of other things.
 
Computer buisness. Evadco. ( duh! 🙂 ) Started with my own $$, incorporated early. yearly sales of about 40k. Profit of about 2k 😛

If you want to start your own buisness, you will want a large chunk of $$ to prove to investors that you mean buisness. ( like 20-50k ) any less than that, and they will think you will not try as hard, because you aer not going to loose your own money.

If you start your own buisness, get incorporated FAST! Pay the $400 or so. It will save you many headaches. trust me 😀
 


<< I don't technically own a business, but I am self employed. I deliver newspapers. Ha ha. Don't laugh. It pays nearly $1500 a month(on top of full time salary) and it allows me to write off my car payments, 15% of my mortgage, 15% of all utilities(minus phone line), a good chunk of my car insurance, and a whole slew of other things. >>

Damn I didn't know that. How long does it take? What a weird thing to be doing!
 


<<

<< I don't technically own a business, but I am self employed. I deliver newspapers. Ha ha. Don't laugh. It pays nearly $1500 a month(on top of full time salary) and it allows me to write off my car payments, 15% of my mortgage, 15% of all utilities(minus phone line), a good chunk of my car insurance, and a whole slew of other things. >>

Damn I didn't know that. How long does it take? What a weird thing to be doing! >>



Two and a half hours through the week, 3 and a half on saturdays, and about 4 on Sundays. Half those times if visgf helps run.

It's a pretty thankless job, and people laugh when I tell them what I do, but pay and tax incentives are pretty nice. I know at least 4 different carriers that make $3,000 or more a month just working 3 hours a day through the week and about 6 hours on sundays.

It makes vacations and spontaneous trips sort of a pain to work around, but it helps keep the debt down while the fiancee is in school.
 
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