Advice for starting my own company.

Lizardjam
Lizardjam Posts: 1,121
edited September 2008 in All Encompassing Trip
Anyone have any good advice for a newbie trying to start my own business? I have experience and want to go into business with a partner with similar experience. It's mostly computer repair and networking. All comments and suggestions welcome!
bugs in the way...I feel about you

"New music, new friends. Pearl Jam."

I like our socks. I hear we make a fine sock. I always say, You might not love our records, but I think you'll like our socks. - Stone

"This record is us speaking out in class." -EV on PJ
Post edited by Unknown User on

Comments

  • JOEJOEJOE
    JOEJOEJOE Posts: 10,829
    Make sure you can survive financially in the beginning; in addition to using your own money, I assume you will also be giving up your current salary.

    Make sure you have legal agreements between you and your partner; consult an attorney, or legalzoom.com for help with choosing the proper entity.

    Realize that your clients may take weeks/months to pay you for your services/products.

    Get proper business insurance.
  • Stone Is God
    Stone Is God Posts: 1,331
    Just have all your ducks in a row before you leave your current job. By that I mean make sure you do all the research that you can before you start it.

    I have a friend that started an IT company 3-4 years ago and he has done extremely well.

    When you talk to prospects be completely honest with them. There are a lot of bigger IT companies out there that try to fuck people over because they don't know the difference.

    My friend company has grown by leaps and bounds on word of mouth alone.
    I'll ride the wave where it takes me.
  • Lizardjam
    Lizardjam Posts: 1,121
    So far this is great! There are things I hadn't thought of like the legal part of having a partner. Also the net 30-90 type deal. I plan to start part time, mostly by word of mouth as well. I have friends in web design and professional advertising so luckily I'll get breaks there but, I think word of mouth does wonders. Thank you!
    bugs in the way...I feel about you

    "New music, new friends. Pearl Jam."

    I like our socks. I hear we make a fine sock. I always say, You might not love our records, but I think you'll like our socks. - Stone

    "This record is us speaking out in class." -EV on PJ
  • TrixieCat
    TrixieCat Posts: 5,756
    You HAVE to have a business plan.
    And you HAVE to adhere to it.
    Pay yourself a salary and the rest goes back into the business.
    You could probably find a business student to help you with the plan if you are not familiar with how to put one together.
    Don't go into business with a friend if possible. :eek:
    Good luck!
    :)
    Cause I'm broken when I'm lonesome
    And I don't feel right when you're gone away
  • norm
    norm Posts: 31,146
    JOEJOEJOE wrote:
    Realize that your clients may take weeks/months to pay you for your services/products.

    don't forget this

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