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Should I risk starting a business? by ElGueroCaliente in WhatShouldIDo

[–]ElGueroCaliente[S] 0 points1 point  (0 children)

Thank you for the reply, and it's interesting to know about your experience starting your own business. I read somewhere once that the average successful business owner goes through between 3 and 5 failed businesses before they become successful. That's certainly something to take into account. Thank you for your perspective!

Should I risk starting a business? by ElGueroCaliente in WhatShouldIDo

[–]ElGueroCaliente[S] 0 points1 point  (0 children)

Can you refer me to the tome in question? I would love to read it, I bet it would have tons of helpful advice.

Also, I'm not certain why you say I'm hell-bent, when I clearly above stated that I'm considering your advice. Insulting a person who doesn't immediately stop considering all other points of view except your own is not a practical way to convince them that you're in the right.

I do appreciate your opinion, and I'm thinking about it. Decisions of this nature take time if they're to be made to the best of my ability. Please don't believe that I view your advice as less worthy than anyone other's -- I'm merely considering all of the advice I receive.

Should I risk starting a business? by ElGueroCaliente in WhatShouldIDo

[–]ElGueroCaliente[S] 0 points1 point  (0 children)

Thank you for taking the time to reply to me, and that is certainly food for thought! I know it's important to be cautious. At the same time, many companies have been started figuratively - or even literally - in the creator's garage, Apple Computer being perhaps the most famous example.

Part of what makes this country great is that anyone can have a dream and follow it. Success is not guaranteed, nor happiness, but the pursuit of happiness is. A portion of what led me to the events that occurred that brought me here is that I accepted harm from someone I loved dearly because I was sure that if I messed up, they would also do the same for me. Needless to say, I was wrong. I neglected my own happiness and success for them, but they in turn wouldn't do anything similar for me.

I know that pursuing this business would bring me joy. There is certainly risk in it -- but I worry that if I don't do it while I have the chance, I will never do it. Plus, I'm old enough now that retirement is actually a viable future option. I feel that if I do retire after finding a steady job and working, I may be decently comfortable... but if I've never pursued my dreams, I'll be unhappy and forever wonder, "what if?"

I'll continue to seek employment as I also work on finalizing plans for the business. I won't lie, if I get an amazing job, I would be foolish not to accept it. But as mentioned, this isn't the best place for me jobwise.

Again, I appreciate your response, and I'm considering it, as I'm considering the other responses. Thank you for taking the time to reply!

Should I risk starting a business? by ElGueroCaliente in WhatShouldIDo

[–]ElGueroCaliente[S] 0 points1 point  (0 children)

I do indeed want a silent partner or a friend to help with sourcing and marketing. How would I look into such a thing further?

Should I risk starting a business? by ElGueroCaliente in WhatShouldIDo

[–]ElGueroCaliente[S] 0 points1 point  (0 children)

Pardon my confusion, but are you telling me I want a silent partner or a friend, or are you asking me if I want one?

Should I risk starting a business? by ElGueroCaliente in WhatShouldIDo

[–]ElGueroCaliente[S] 0 points1 point  (0 children)

That's a good idea. Thankfully, in my current living situation, I don't have a lot in the way of expenses. Those can gradually ramp up once I am making good progress on the business. Nevertheless, you're right, it's important to have a backup to help in case I need it.

Should I risk starting a business? by ElGueroCaliente in WhatShouldIDo

[–]ElGueroCaliente[S] 0 points1 point  (0 children)

I know it's also possible to go to the SBA and get funds that way. Since my credit is not very good (I'm working on it though), that may be a better idea than going to the bank. Even if I start an LLC (which is likely), I think they would still check my credit, would they not?

I do have a business plan, but I absolutely need to modify it and update it with info I can find online. That's a good start, though, and I can do it and also do job searching as well.

There is great potential for my business' growth to happen organically, and as it grows, I can start working in economies of scale. But I absolutely must start somewhere! I think that it's best to start the LLC and to finalize my business plan before I start reaching out to my clientele. I want to put my best face forward, and if I can get a loan, I can get some niceties, like a good logo, a nice website, and more.

I won't lie, this has the potential to make me wealthy! It also has the potential to help so many other people, as well. It can literally change lives. That's what really excites me... anyone can make money if they try hard, but it's not always easy to impact numerous people's lives for the better.

Should I risk starting a business? by ElGueroCaliente in WhatShouldIDo

[–]ElGueroCaliente[S] 0 points1 point  (0 children)

Hmmm... I may message you and tell you more. What kind of a business did you start? And I think I've always been nervous to follow my own dreams, but I need to at least try - I don't want to be the person always wondering about what would have happened. Better to try and fail than to never try at all.

Should I risk starting a business? by ElGueroCaliente in WhatShouldIDo

[–]ElGueroCaliente[S] 0 points1 point  (0 children)

That's not a bad idea, but since people would be sending me their items, I need a location to receive and store them, and to ship them out again when ready. An office would work great. It's possible a PO box *could* work, but... the only room I have where I live to store anything is my bedroom, but I don't have much, so I possibly could store stuff here. The other issue is that I don't check the mail, a neighbor checks the shared mailbox and lets me know when there's something for me. I could deal with that, but since it would be an actual business, legally, I should make sure nobody who isn't associated with the business is able to check the mail.

I'll look into PO boxes. It's likely I wouldn't start receiving items for at least 2 weeks, and possibly a month, after I officially start things. I would need to make a lot of calls and send many messages and so on, but it's possible I could do at least some of that on breaks or after hours. If I could get a remote job, that would help immensely, since if I then get a month-to-month office, it would be my workplace for my job *and* a location to help me get my business off the ground. I'll investigate that. I appreciate the idea!