Tips for starting your own business

Discussion in 'Mayberry Lounge' started by MUSTKILL, Aug 12, 2016.

  1. MUSTKILL

    MUSTKILL Brown Belt

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    Hey sherbros,
    I recently just quit my toxic job and decided to start my own IT company.
    It's been a struggle to get consistent work but I honestly haven't really tried putting myself out there.
    Everything has been word of mouth, but very soon I will need to find a stable clientele base.
    I've been working for DoorDash as a supplement to my business but it only averages about $15-$20 per hour before taxes.

    Any other small business owners have any tips or suggestions on how to get things going? Would love to hear any suggestions.
     
  2. Tamriel Terror

    Tamriel Terror Silver Belt

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    Advertising is one of our biggest challenges. We are an insurance agency and deciding on how to find new customers is difficult due to us being small. Putting up signs doesn't get enough people, advertising on tv is to expensive, so the best outlet for us is social media, but lets be honest, the majority of people arent going to waste the time to find a small business on social media like us.

    Expanding a customer base is pretty challenging
     
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  3. Jack Reacheround

    Jack Reacheround Never Go Black

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    I've never run my own business, but I have seen my sister in law's fail multiple times for one reason. She doesn't work hard enough. Your hours need to be every hour, not just 9 to 5. Work hard.
     
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  4. Cheese

    Cheese Banned Banned

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  5. Parallax Error

    Parallax Error Blue Belt

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    Learn some basic accounting and try to be well versed on the tax implications of running your own business. Don't take shortcuts when it comes to the actual business formation (i.e., incorporation and licensing.)
     
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  6. AznTrojan

    AznTrojan Silver Belt

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    i work from home and opened my own PLLC recently..

    get a roth 401k if you can... depending on your age.. it's probably better than a 401k... i use etrade.. but vanguard and TD ameritrade also offer roth 401k for the self employed..
     
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  7. Sampsonsimpson

    Sampsonsimpson Brown Belt

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    Just don't make the same mistake I did and name the business the first thing that pops into your head. Take your time and mull it over for weeks if you have to.

    [​IMG]
     
  8. ElPadre

    ElPadre Yellow Belt

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    Can you expand on what sort of IT company you are trying to start? I know you weren't looking for advice on that, but I'm a curious guy.
     
  9. thetruth2709

    thetruth2709 Red Belt

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    I started my own business in 2001. The first year or two was a struggle man, but eventually I got a good connection and clients started calling and calling

    My best advice to start would be to try to find a SOLID connection that gets you more clients, if you are good with that one connection that is already established then you will get clients through him/her

    Save money! Really, even if it looks good for a while, save your money, you dont know what can happen and you will sleep better and make better decisions if you are not desperate when it gets slow, which it will once in a while

    Something that non business owners sometimes cant really grasp is the fact that as a business owner you are NEVER really off. You never clock out, if you are having dinner with your wife and somebody sits next to you who could be a potential client starts talking to you, you WILL talk business, and if you have a good wife/partner she will understand.

    Best advice to be honest is "hang in there" really, there are many pros and cons of having your own business, good and challenging times, but if thats the path that you have decided to take it could be a very exciting and growing experience, wish you the best bud!
     
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  10. ILLogic

    ILLogic Brown Belt

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    [​IMG]
    [​IMG]
    [​IMG]
     
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  11. Rhett Henley MD

    Rhett Henley MD Orange Belt

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    SBA loans are easy to come by if you can't get conventional financing (assuming you need a line of credit to get started).
     
  12. Cheese

    Cheese Banned Banned

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    and here is another tip to get you started to go along with this

     
  13. highkicknomore

    highkicknomore Red Belt

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    1) Keep chugging along when times are tough. Most will quit - this is what will separate you.
    2) Adapt. Don't do the same strategy 100 times if it wasn't a success after the 10th try.
    3) You'll be constantly working even on your time "off" - whether it's answering e-mails or picking up items.
    4) Put your business income back into the business. Don't spend it. The more cash you have the better opportunities to make your company grow.
    5) Be passionate. I'd have quit a long time ago if I didn't enjoy the industry I'm in.

    Good luck! Sounds like you're already ahead by opening up your business while others will just talk about it.
     
  14. Soma

    Soma Breathe the body deep

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    That is it. That's all. The only tip you need is "Stop fucking around". Making this post was you fucking around. Even if you made it while taking a shit, you could have spent that time coming with a plan, then getting off the toilet and d executing on that plan.

    Stop fucking around.
     
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  15. mushishi

    mushishi A is a, a is a, should I save her?

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    Mom's spaghetti

     
  16. mime

    mime Black Belt

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    you gotta make connections, to be successful you need other people, you can't do anything by yourself alone, you need to figure out ways where you can setup mutually beneficial situations, when selling don't act like a salesman just be yourself, I always hated when people acted so fake and like a salesman to me..

    its all easier said than done, its a total social game you have to play, the more connections you build and if you're honest, likable, and do a good job you'll find people will want to help you out and you can get referrals...sorry its all generic advice but theres not much else i think
     
  17. Soma

    Soma Breathe the body deep

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    People search on Google for solutions. People do not search for solutions on social media. People use social media to waste time, for entertainment, and to socialize. However, one huge benefit that Facebook has is the ability to target the exact type of customer you're looking for. Do you have a profile for your target customer? Have you run ads to reach the type of person who is your target customer?
     
  18. Jack Reacheround

    Jack Reacheround Never Go Black

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    And by stop fucking around, he means jerk off at least three times a day.
     
  19. KaNesDeath

    KaNesDeath Red Belt

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    Should be applying for support/head positions of IT in stable industries; Medical, Automotive, civil service.

    If you still wish to start. Low return businesses should be your targets starting off.
     
  20. MoparOrNoCar

    MoparOrNoCar Black Belt

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    Step 1: Start business
    Step 2: ?????
    Step 3: Profit
     

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