Starting your own business

[Hamilcar]

Who here has done it? Any insights & tips?

[mongers]

Who here has done it? Any insights & tips?

Yes, yes, yes. No, don't do it.

[The Brain]

What is your current level of knowledge about starting a business?

[Phillip V]

I will start a business after I get wealthy and/or have cheap access to other people's money.

[crazy canuck]

Who here has done it? Any insights & tips?

how are you going to finance your venture?  Do you have a good business plan?  Has your business plan been reviewed by a dispassionate third party?  Do they think it is a good business plan.

[mongers]

Who here has done it? Any insights & tips?

how are you going to finance your venture?  Do you have a good business plan?  Has your business plan been reviewed by a dispassionate third party?  Do they think it is a good business plan.

That's what he's using Languish for. 

[CountDeMoney]

Who here has done it? Any insights & tips?

Yes, yes, yes. No, don't do it.

I concur. 

[Monoriu]

What is your competitive advantage?  Are your goods and services cheaper?  Or are they better?  Or do you fill a niche that nobody does?  If you can't confidently say yes to any of these questions, you need to think twice. 

[derspiess]

I have no interest in opening my own business, apart from creating a consulting firm at some point.  That said, if the wife and I had gone with our idea to open an empanada restaurant a few years ago, we'd have made some money.  People around here are going nuts for them now.

[Phillip V]

I have no interest in opening my own business, apart from creating a consulting firm at some point.  That said, if the wife and I had gone with our idea to open an empanada restaurant a few years ago, we'd have made some money.  People around here are going nuts for them now.

Yeah, but then you would have had to put in long hours from early morning to late night and be responsible for very serious shit, including other people, for how much real gain?

[derspiess]

Yeah, but then you would have had to put in long hours from early morning to late night and be responsible for very serious shit, including other people, for how much real gain?

Part of the plan was to import a couple in-laws for cheap labor, but yeah it owning/running a restaurant is just a whole bag of hurt.  Even just owning a food truck isn't the walk in the park some people presume it to be.

[CountDeMoney]

Part of the plan was to import a couple in-laws for cheap labor,

[Monoriu]

I have no interest in opening my own business, apart from creating a consulting firm at some point.  That said, if the wife and I had gone with our idea to open an empanada restaurant a few years ago, we'd have made some money.  People around here are going nuts for them now.

Yeah, but then you would have had to put in long hours from early morning to late night and be responsible for very serious shit, including other people, for how much real gain?

I imagine that a big part of the appeal is not having to listen to a boss any more.

[alfred russel]

What is your competitive advantage?  Are your goods and services cheaper?  Or are they better?  Or do you fill a niche that nobody does?  If you can't confidently say yes to any of these questions, you need to think twice.

Hamilcar's advantage is that he is smarter than everyone else, is well financed, and deliver his product or service with a maximum helping of Swiss smug.

[derspiess]

Part of the plan was to import a couple in-laws for cheap labor,

Hey I'd have given them a place to stay.