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Thread: Setting up a business




  1. #61
    Join Date
    May 2003
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    268

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    I you really want to start something, well get information and go for it, prove everyone that you can do it, you just have to know what your doing, dont go too fast!
    That is my advice!
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  2. #62
    Join Date
    Jul 2002
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    1,661

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    amd_man2003: Personally I don't believe we're ever too young or old to do anything (within reason), but I would suggest that you concentrate on finishing high school first. If you're interested in a particular type of business, look for local companies doing what you're interested in and try and get a part-time job with one. This will give you valuable experience in your chosen field, and the opportunity to build up a potential customer/supplier base for the future. It also gives you the opportunity to experience a particular trade without any commitment, financial or otherwise. You never know, it may not be what you want to do after all.

  3. #63
    Join Date
    Jul 2003
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    I would also suggest what Weta said about working in the same type atmosphere prior to starting a business in the same field.
    You will quickly learn whether or not you want to be in that business or not.

    I was 23 when I starting working for a Corporate Sales Broker and became the youngest Country Sales Manager(Tokyo, Japan) in our company, not to mention the industry.
    I could have been arrogant and used that to my advantage. Or kept quiet, learned from the elders in the industry and gained respect for paying my dues. Which I did. I won every bonus, trip, and awards put in front of me. Paid vacations to Hawaii, staying at the poshest hotels. Renting the best vehicles, ie. a Ferrari, a Prowler, taking helicopter rides. Bought my 1st Rolex. Anything you could imagine. I also had a 15% end of year increase in sales. 1-3% is average. That was on my 22mil of sales. So the boost was quite the amount.
    Although I was killing myself, working 16-20 hour days for the 1st 2 years. It was hard on me, my marriage and my life. Although I learned more in those 5 years than I have in all of my life.
    If I have learned anything to pass on, it would be to do whatever you want, feel you can.
    Although to succeed in your goals you need to surround yourself with people that can help you succeed as well.

    So when I came back to the states. I had gotten a taste of the highlife and wanted to continue with that. I got into computer technology sales and continued on from there.
    Although one thing I learned about this business is you are dealing with customers and computers. Two things that are very unpredictable.
    When you are working in retail, it is a very different experience. Especially in repair. You have customers that expect their computer to work after they take it to you for repair. Say you repair it, they go home and it works for a week and something else crops up. Guess who they blame, YOU. You have to be able to deal with that, them, then explaining and dealing with the situation and the customer to make your business work. THAT is very hard. Sort of an aquired art.
    So AGE plays a very important role in retail whether any one wants to believe it or not.
    You also don't get many chances to screw up. I noticed here, a lot of people go straight to hardware, specifically the PSU when windows locks up or acts irratically. In a real world setting. If you told all of your customers that a 300w power supply isn't enough to power their system, then you get them to replace it, and the problem is still there, you just lost that customers trust in your abilities, as well as referrals for your business. How do Shuttles power a P4 system with a 200w power supply even today? Then why is it so neccessary that EVERYONE have a PSU of 300w in this day and age. The answer is it isn't necessary.
    You have to be able to deal with customers that don't have the money to replace this or that just because it is old. I know a lot of people that still run mobo's with ISA slots, modems that run off of them. Printers that connect via ISA risers. You have to know how to work on those computers as well and not just tell them they need to upgrade. Cause they don't. Those technologies still work. It may not be the best, but those customers obviously don't care and they expect you to fix it, if indeed you business title is computer repair. Not computer replace till it has a 400w PSU, new CPU, Volcano 7+, and all the other ideal goodies.
    There is a lot that goes into owning your own business. Sure a lot of people can do it. Becoming successful is the barrier.
    In my personal view, there is a finesse that is necessary to making it work. Either you have it or you don't. If you don't you get people into it with you that do. Especially in the computer field. There is a vast expanse of knowledge areas you need to be successful. From my experience, it isn't a one man show.
    So there are a lot of initial barriers you have to cross. The first is Capital. Where are you going to get the money to start the business? Next, is how are you going to get the right people to work with you to make it successful?
    Once you have both of those. The next would be, where are you going to have this business? In the same area as 5 other repair facilities in the same city? And once you figure that out, is how or what are you going to be able to provide that is going to bring your customers to you and not the guy across town that has been there for 10 years.

    In my personal opinion, owning your own business is something that would be great. Although you better have your **** together if you expect it to work and be successful. 90% of new businesses fail in their first year.
    For the average person, you only get one chance with those odds. So you better have your stuff together.

    Research and make sure you have the talent, capital, and nitche that is going to make it successful. Its an art...

    Chez

    FYI = To your question of what do you need to start a business as far as capital and stuff.

    1. $10,000 to 20,0000. To START. Plus the costs of repair equiptment, tools. 2-4 computers for the business as well as testing others.
    2. Leases for the building. And someone OVER 18 to sign them.
    3. Staff, you can't fun a successful business by yourself UNDER 18.

    Unless you are going to run this out of your bedroom. Then it wouldn't be a business. IT WOULD BE A HOBBY.

  4. #64
    Join Date
    Jan 2003
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    968

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    I already know you can and will do whatever you want to do AMD_Man. You can do it. Chez and all the others here are showing care in much the same way a professional of any trade does to a protege' or an apprentice. Sometimes that's nice, other times it's a hard lesson but a good one. They're just giving the benefit of their respective experiences.
    My simple advice would be...keep it simple. Just don't risk too much or overcommit yourself too much and you'll do fine. You and I have talked about it, because although I have 25 years on ya, I'm in the same boat...wanting to do what I love to do as a hobby for a living. I do wonder at whether it's gonna still be fun to work on a computer when you get a customer that never intended to be pleased with your service in the first place screaming at you and threatening to sue. :eek:
    I started in the building trade at age 10...and about all I was allowed to do was carry lumber til I was 17. I paid my dues and paid attention as well, and pretty soon I was left in charge of guys much older than me. I caught more than my share of grief for it, as older folks tend to not like being shown up by someone younger, even if they DO have the skills.
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