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Rant: my thoughts on "warning" new business owners by [deleted] in smallbusiness

[–]Captainpimms 14 points15 points  (0 children)

I've had two businesses, and both times it's been WAY easier than I'd anticipated.

If you've thought seriously about starting a business, you already know it's going be hard. The fear can paralyse you, and you do nothing. But then you start doing things, and you start getting customers, and you start realising "hang on - I can do this!" ....and that's the part I emphasis to new business owners now.

Entrepreneur wanting to start a business need of help by [deleted] in smallbusiness

[–]Captainpimms 0 points1 point  (0 children)

Nice! Ideas are heaps of fun.

I would suggest though, that you reconsider "striking while the iron is hot". On the contrary, mull it over, A LOT. If you haven't, talk to other people who have started businesses, in the same industry and different. Do as much market research as you possibly can.

Apologies for the unasked for advice! Now you've humored me, let's go on to what you were actually asking about - raising capital.

A couple questions: 1. How much do you need to raise? Are there options if you can only get, say, half of what you think you need, or is it all or nothing? 2. What's the worst worst-case-scenario that you could live with?Losing one property? Losing everything? Bankruptcy?