The Business and Financial Forum THIS SPACE OPEN FOR ADVERTISEMENT. YOU SHOULD BE ADVERTISING HERE!
Revscene Wall Street.
Consolidating debt? Good business tips? Buying stock? How's our economy doing? Discuss and share advice and tools on everyday banking, investing, wealth management and insurance. |
 | 
06-02-2011, 12:51 AM
|
#1 | | I Will not Admit my Addiction to RS
Join Date: Oct 2005 Location: Delta, BC
Posts: 510
Thanked 65 Times in 31 Posts
Failed 22 Times in 3 Posts
| Business Idea
Hello all,
I am thinking about leaving my job and starting my own business. I never liked working for anyone and have always wanted to be self employed. However, I dont have any fresh ideas to bring to the economy. I have a little bit of money saved so that will not be an issue, but it would have to make serious sense. What do you guys think? It can be service, retail etc..
How about something like a lordco, but with JDM parts only :-)
I wish... lol
Anyways let me know.
Thanks,
| 
|  | |
06-02-2011, 01:36 AM
|
#2 | | Raping Captured Dolphins since 2002 on EZ board days
Join Date: Jul 2002 Location: Hong Kong
Posts: 6,251
Thanked 658 Times in 191 Posts
Failed 78 Times in 45 Posts
|
If someone had an excellent idea, why would they give it to you?
Secondly, if it's not your own idea, you won't be passionate about it and will have a higher failure rate. Find something you're very good at and explore ways to turn that into a business.
[edit] And if you're thinking about a JDM parts store, you are about 10 years too late and will fail miserably.
__________________ Quote:
Originally Posted by asian_XL  apparently, freedom of speech does not exist on RS
| Quote:
Originally Posted by Alphamale I give a lot of people rim jobs. | My Feedback | |
| | |
06-02-2011, 06:48 AM
|
#3 | | MiX iT Up!
Join Date: May 2006 Location: vancouver
Posts: 8,138
Thanked 2,069 Times in 867 Posts
Failed 642 Times in 183 Posts
| Quote:
Originally Posted by RHMadness Hello all,
I am thinking about leaving my job and starting my own business. I never liked working for anyone and have always wanted to be self employed. However, I dont have any fresh ideas to bring to the economy. I have a little bit of money saved so that will not be an issue, but it would have to make serious sense. What do you guys think? It can be service, retail etc..
How about something like a lordco, but with JDM parts only :-)
I wish... lol
Anyways let me know.
Thanks, | I hope you see the problem...
Since you have a little bit of money, I suggest you look at buying a business so you can operate it yourself. Something like a small coffee shop, or deli or pizza joint. Alternatively, you can be an angel to someone who has an idea but does not have the money.
__________________
Sometimes we tend to be in despair when the person we love leaves us, but the truth is, it's not our loss, but theirs, for they left the only person who couldn't give up on them.
Make the effort and take the risk..
"Do what you feel in your heart to be right- for you'll be criticized anyway. You'll be damned if you do, and damned if you don't." - Eleanor Roosevelt | |
| | |
06-02-2011, 06:53 AM
|
#4 | | Banned By Establishment
Join Date: Sep 2006 Location: vancouver
Posts: 233
Thanked 5 Times in 4 Posts
Failed 229 Times in 16 Posts
|
start ur own plumbing/construction company costs relatively low. and these guys make 2-300k per year once you get a good clientelle base  | |
| | |
06-02-2011, 08:56 AM
|
#5 | | Diagonally parked in a parallel universe
Join Date: Aug 2009 Location: Coquitlam
Posts: 1,476
Thanked 522 Times in 263 Posts
Failed 102 Times in 40 Posts
|
As someone who does book keeping for small business I will tell you seriously and honestly that most people have NO idea what sort of expenses come into running and owning a business.
Further, parts (or any retail) is an expensive way to go as you always have to have a LOT of expensive inventory lying around in the case that a customer wants it. This ties up a huge amount of cash, cash you'll have to pay up front because you won't have an established credit history with your supplier(s).
For the sort of business you're talking about, I would hope that a "little bit of cash laying around" is in the ballpark of at least 200,000 (though I would feel safe with more, much more).
TH's suggestion that you purchase an already existing company is a good one. Just make sure you do your due diligence. A better, but longer term plan is to go in as a manager at a business, with the option to eventually buy it out. The BIG plus here is you will know after a year if this business is viable. Something that's easy to mask on paper and accounting reports.
__________________
~ Just another noob looking for a clue
| |
| | |
06-02-2011, 01:33 PM
|
#6 | | I *heart* Revscene.net very Muchie
Join Date: Jul 2007 Location: BC
Posts: 3,558
Thanked 3,814 Times in 957 Posts
Failed 715 Times in 210 Posts
|
lol, there is no way he can be an angel investor with a little bit of money saved, plus I doubt he even has any skills to assess whether a start-up company is viable or not. VC is extremely risky and is not for some average joe, plus the contribution is not a small amount, and the return is very uncertain and may take many years.
| |
| | |
06-12-2011, 11:03 PM
|
#7 | | To me, there is the Internet and there is RS
Join Date: Apr 2004 Location: Nanaimo
Posts: 16,569
Thanked 7,736 Times in 3,638 Posts
Failed 1,507 Times in 645 Posts
|
Do you like working long hours 7 days a week than a small business is for you. If not keep your day job.
__________________
Until the lions have their own historians, the history of the hunt will always glorify the hunter. | |
| | |
Posting Rules
| You may not post new threads You may not post replies You may not post attachments You may not edit your posts
HTML code is Off
| | |
All times are GMT -8. The time now is 06:11 AM.
|
You are currently viewing our boards as a guest which gives you limited access to view most discussions and access our other features. By joining our free community you will have access to post topics, communicate privately with other members (PM), respond to polls, upload content and access many other special features. Registration is fast, simple and absolutely free so please, join our community today!
The banners on the left side and below do not show for registered users!
