Posted on 06/02/2010 9:46:07 AM PDT by Freedoms Worth It 2
This is Freedom's Worth It - class of 98.
I am retiring and starting a business.
It is in the education field - but it is for profit.
All Advice and counsel are welcome.
Thanks in advance.
Like what you say - this is a cash in the barrel head business.
All so good points of advice will freepmail this to myself.
When I said cash on the barrel head I meant pay as you go business. I may not accept credit cards only debit cards.
Or cash. Or personal checks (possibly).
But will have a check clearing service - as I did in a small business I once was the office manager for.
I have over 15 year experience managing a small business so I know a little bit about this end of things.
Just never started one before.....or owned one.
Am following a dream/vision so who knows where it will go....only God knows. And He is my business partner.
So it’s all good.
(And by the way He is scrupulously honest and so am I)...so I get the part about having people I can trust handle the money - so that would be me to start.
I am taking some small business ownership / management courses at local tech college also.
And the SCORE idea - free help - is one I am also getting ready to do.
Appreciate ALL the advice!!!!!
Thank you - have incorporated and want to be a debt free business if at all possible. Planning to raise capital through penny stock offering. Everyone I discuss my vision with likes it...well with a few exceptions but very few.
Not going to discuss it here for the world to see - not yet. The time will come.
Thank u = yes learned about SCORE today - planning to make use of that service asap.
Free service is always welcome.
Plan to have fun - already doing so!!!!!
It’s all good!
My business didn't used to be payment up front. Normal was net 30, back when companies paid their bills.
These days, no-one gets net 30. Net 10 we can talk about if it seems reasonable and I can float them if they deadbeat me.
/johnny
50 employees or more, then it will be mandatory for you to provide government-approved health insurance for them, or pay the IRS $2,500 per employee per year if you don’t.
Best just to stay with no more than 49 employees, most of whom you’ll probably need just to fill out all the 1099 forms the new law requires.
It depends on two things only you know: Will the business fill an immediate need, and is there good potential for significant growth, short and long term. If yes to both, I’d offer stock.
Ok, good luck.
Checks. That’s one I forgot about. I never take checks, but if you have experience dealing with it then you’ve got an advantage there. I haven’t had problems with debit or credit cards except for American Express, so I just don’t use them. Their rates are higher, and their application process has more hurdles. I haven’t had customer complaints about it.
The starting is the easy part.:) Just a lot of busywork getting permits, licenses, etc.
And understand all terms of any lease you sign. I had one lease where I found out after I signed that garbage pickup was my responsibility; terms differ widely.
All these little things to worry about.
Well - I can have checks only if I have a “check clearing” device - IMHO. (It verifies the checks are good).
Good advice - won’t take Amex.
Yes permits, licenses, space rental. Thanks for the advice on the lease agreements!!! Will definitely have another pair or two of eyes to look over these.
God bless you in your venture and thanks for your advice for mine!
Yes to both - thank you then!!!!
I see. Well when the “revolution” happens this year - 2010 - that Healthcare nightmare will be revoked, I hope....and I won’t be getting anywhere near 49 employees before then...but I appreciate the info - did not know that.
Pay pal. Hmm. Well that works for an online business. Mine won’t be - mostly will be on locale.
Service, not product.
However, it could develop into a few product offerings online....so will keep that in mind.
Thank you and blessings on your ventures!!!
What are you talking about? You are a FReeper, a man of conservative principles, someone who cherishes liberty and *individual initiative*.
I have no doubt you’ll be getting near 49 (but not one more!) employees within your first year of business, if only to have them fill out all the 1099 forms you’ll have to issue to every vendor you purchase more than $600 worth of goods/services from! (FUBO!!!)
But, seriously, good luck to you in your endeavor. There are only two types of people: Libtards who live in their parents’ basement until they’re 40 years old; and entrepreneurs like you, who will take a risk and create something (but refuse to hire 40-year-old Libtards who are still living in their parents’ basement).
Give ‘em hell, Freedoms Worth It 2!
/johnny
Thank you so much for the good wishes and for all the comments except the man thing. FWI (1 and 2), yours truly, is a lady, thank you very much - in every good way that word can be taken.....
And yes well I agree.....LOLOLOL.....and with God’s help we may very well be hiring many more than 49 employees in no time flat....but who knows?
God knows and He is my real business partner.
Thanks again for the good wishes. Part of my vision involves going into some of Satan’s very sickening strongholds and smashing them to smithereens......so we’ll see about that too! (Think about my name).
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