Discussion in 'Community Discussion' started by Fearless Leader, Sep 3, 2007.

  1. Fearless Leader macrumors 68020

    Mar 21, 2006
    Just wandering what I'm going to do with my life and have thought about maybe starting my own business.

    What kind of experiences have any of you had with this?
    What kind of prior experience did you have or would like to have had?
    and did you just go cold turkey and do it or slowly let it take over your old job?
  2. John Jacob macrumors 6502a

    John Jacob

    Feb 11, 2003
    Columbia, MD
    I've never been an entrepreneur, and I'm probably too risk averse to ever become one. But I'm pretty certain that one of the prerequisites to becoming an entrepreneur is being a fearless leader! :cool:
  3. Sun Baked macrumors G5

    Sun Baked

    May 19, 2002
    On the dollar side...

    learn how to use an actual double entry accounting program, not just the check register lite versions.

    even if you have to take an intro to accounting class. especially since you may not have enough for an accountant/bookkeeper in the beginning.

    while having an accountant is nice, being able to spot problems/theft is nicer.

    and sign all the checks yourself for as long as you can. you are responsible for the cash in the account whether you sign them or not.


    welcome to the wonderful world of trying to collect from deadbeat customers. ;)
  4. mcarnes macrumors 68000


    Mar 14, 2004
    USA! USA!
    I own two businesses. Kinda sucks if you ask me. But working for a boss sucks even more. So I guess it's ok.
  5. true777 macrumors 6502a


    Dec 30, 2000
    California, Austria, Arkansas
    You need to be brilliant, fearless, and willing to work like a horse for the first few years if you want to make it big. If one of those traits doesn't apply to you - don't start.
  6. Stampyhead macrumors 68020


    Sep 3, 2004
    London, UK
    And have a good amount of money saved up to live on until money starts coming in.
  7. Fearless Leader thread starter macrumors 68020

    Mar 21, 2006
    well thats always nice...

    Thanks for the input.
  8. GavinTing macrumors 6502


    Sep 4, 2007
    Actually what stampy said is quite true.. :D

    If you are funding the business yourself, i.e. no investors, you would be wise to have quite a large stockpile of money, especially if you are in the business of high-end goods, like designer stuff, or computer parts..

    It's also much harder, because if something screws up somewhere, the blame will go up the chain, and eventually hit you.. The courts like to blame stuff on "management causing a climate of negligence in the office" and stuff.. :)

    You could always start one of those ebay stores, then as you gradually get more "customers", and you realise you cant handle it anymore, leave your current job, and then set up an online store like amazon..:apple:
  9. Virgil-TB2 macrumors 65816


    Aug 3, 2007
    I am not an expert but I know that to be a successful entrepreneur you have to have more drive than the statement "(I'm) just wondering (sic) what I'm going to do..." implies. You have to have an actual goal and the sheer determination to make it happen.

    Historically, there have been no "lazy" entrepreneurs. :)

    This is reminiscent of that Seinfeld episode where George is trying to decide whether to be an airplane pilot or an architect, mistakenly believing that he merely has to chose one or the other when in fact, he has to actually work towards it. ;)

    I also recommend a college level English course.
  10. kainjow Moderator emeritus


    Jun 15, 2000
    I'm still in college, but since I started I've already started a company, ran it for two years, and sold it, and became a consultant for two companies in the same field.

    I would suggest to you: get a job in the area you want to start a business in. You will learn how another company does things, and then you can improve on their idea.

    And like others said, save up lots of money first, and possibly ease yourself into the business. Don't just quit your day job right away.

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