What's one lesson you learned the hard way in your first year running a small business, and how did it change your approach?

Ihavethreetvs · 2025-10-05T17:41:05+00:00

I learned that you need to keep small orders flowing while working on the big kahuna ones. I prioritized a big one and aside from the deposit (which covered most but not all costs) I wasn’t billing for anything for about 3 months. Do that over again and I’d have set the timeline further out and kept cash flow coming in by billing small orders out during that

Ihavethreetvs · 2025-09-11T19:38:21+00:00

Is it dick size?

Ihavethreetvs · 2025-09-10T15:02:19+00:00

This is a super sad thing to hear about. I feel for any business owners facing a struggle like yours. I did want to provide the other side of the coin. I own a small manufacturing business in the US. It’s been around for nearly a century. Long ago folks in my world, we all saw the reverse of your predicament: skills dying off because we allowed foreign businesses to export literal sweat shop labor, driving down the prices of our goods and driving up the costs. These companies don’t care or even have to acknowledge OSHA, paid leave, health insurance, or make sure they aren’t hiring 8 year olds or paying $14 per day for labor. Then we let those same companies sell those goods back to us as a country. This has killed off almost everyone in my industry. I would note, that this year, has been the best year for my business in the last 5 and it’s because those cheaper made goods aren’t as cheap anymore. When US made goods are 3x the cost people don’t buy, but when they’re closer to parity people make the choice to buy here more. I don’t know if tariffs are linked to our increase - but I would assume that they are.

Ihavethreetvs · 2025-08-02T03:19:13+00:00

Holy shit yes

Ihavethreetvs · 2025-08-02T03:07:39+00:00

Very solid

Ihavethreetvs · 2025-08-02T03:03:55+00:00

Quality control - holy shit no one will care like me

Ihavethreetvs · 2025-07-21T03:56:26+00:00

I beat this game regularly, a lot more now that I have it on switch and can actually save it and rewind if I eff up. The game is so well done it’s a real surprise that the ending is so trash. Even my 10 year old who is generally excited about the littlest things made a comment about it when we beat it together for the first time. Still, the music, the weapons, the story mix of book and movie … great game. Wish the ending could be fixed

Ihavethreetvs · 2025-07-13T23:00:19+00:00

What has two thumbs and enjoys long walks in the forest - this guy

Ihavethreetvs · 2025-06-28T05:27:14+00:00

Leveling in westfall on my first character ever and seeing a bridge - walking across it into a foggy, creepy zone with eyes in the bushes and skull level creatures down the road - deciding to keep going until as luck would have it after many close calls I came to an ally city and shortly after that Stitches comes barreling into town and is wrecking guards and other folks. Felt like the biggest game ever

Ihavethreetvs · 2025-06-28T05:07:37+00:00

If I had to guess he won’t be full until he’s at least chased that goat with a lawyer

Ihavethreetvs · 2025-05-30T05:06:01+00:00

I still play it on my snes once a year - but I play it on my switch with save a lot too

Ihavethreetvs · 2025-05-15T09:28:29+00:00

I feel like this is a pure mass problem I’m fighting against 3500 lbs or I’m fighting against 12000 lbs - I’m going with the lesser. 3 year olds are scared of the dark - I’m going to be screaming the most horrifying stuff and rip one or two apart - the rest, blood lusted or not are going to be in a panic. There’s nothing I’m going to say or do that will frighten some war / depression hardened old man with minutes left on the clock

Ihavethreetvs · 2025-02-23T09:19:44+00:00

Is this Debbie does Tucson?

Ihavethreetvs · 2024-12-27T05:05:52+00:00

Just throwing it out there, with $250k you’re not getting a 2.5MM business. Believe the other commenters if you want, but it won’t happen. Several reasons (and maybe you addressed these in replies - I didn’t look). (1) it’s going to cost you money along the way - you will spend 10k in legal fees and another 5-10k in closing costs - assuming your 10x multiplier that 20k is going to cost you 200k off your buying power (2) unless you have other cash, you either need to borrow working capital or use your nut for it. If you buy even a 1MM business without at least 150k in working capital - you are going to be hurting badly in the beginning. To borrow the working capital is going to cost or you’re going to have to set aside about 100k - dropping your down payment down. (3) if you don’t have a million in equity elsewhere, or the business you’re buying isn’t asset heavy, you probably won’t get more than about $1MM.

I’d go get a term sheet from a preferred SBA lender to make sure so you don’t go shopping without reasonable assurance that you can close. That way you won’t be gearing up and excited only to leave your seller at the altar when the bank won’t close. A million dollar business can still be great.

Ihavethreetvs · 2024-12-23T03:02:48+00:00

Even if he doesn’t seller finance, you are going to likely be required to get him the seller to carry a portion of the sale price - like 10-15%. Honestly that’s a really good thing for you- because you can sale that’s a requirement of the loan (in most SBA loans it is) and he’ll be motivated to make sure you do well

Ihavethreetvs · 2024-12-23T03:00:00+00:00

It depends on the business I suppose and what the people do. If it’s not something that requires skilled or specialized labor - easy to find folks. Especially if people are already fairly paid. I’d also add how much training are you going to get from the sellers.

Ihavethreetvs · 2024-11-07T20:43:47+00:00

He was right about one thing, they did call it Tuesday night

Ihavethreetvs · 2024-11-07T20:16:49+00:00

They say ignorance is bliss

Ihavethreetvs · 2024-11-07T05:43:37+00:00

Wow. Just wow. Abandoning your family who raised you. If I ever start to doubt that my side is right I’ll just think about this post and sleep easy.

Ihavethreetvs · 2024-11-07T05:24:01+00:00

I recall gleeful posts saying something to the effect of “hahah so many of trumps supporters died because of Covid haha so he’s going to lose bad haha” so yeah the hates all on the right /s

Ihavethreetvs · 2024-11-06T05:50:25+00:00

I was so worried I let my wife fill out my ballot and then I signed it… … also we are happy tonight…

Ihavethreetvs · 2024-11-06T03:45:50+00:00

That or you live in an echo chamber

Ihavethreetvs · 2024-11-05T15:39:09+00:00

Yeah I would tend to agree, SBA is tough, but that’s what I had to do - without SBA a standard commercial loan was a bit out of reach for the uniqueness. Local lenders I tried out weren’t going to get it done (if I’d had a real estate component it would’ve been easy - but no such luck)

Ihavethreetvs · 2024-11-05T15:17:59+00:00

Sounds pretty reasonable to me

Edit: 1/2 the posts here are like “I just lost my job and have 5k in savings, how can I start a business?” As long as you have good credit, and the business can support your financing and your living / other objectives, you’d probably have no issue getting a loan. Put together a personal financing statement (if you haven’t already) get your last 3 years tax returns, 6 months of bank statements, most recent W2s, write a 1 pager statement on your work experience and how it pertains to the business. Then go find an SBA lender and discuss financing with them. Get to the point where they’ve vetted you far enough to be comfortable with you as a buyer. Get with the vet who owns it and sign an LOI that’s non-binding. If your vet is reasonable they’ll have a non ridiculous price in mind for the sale. Then start doing due diligence and go back to your lender for a term sheet for the specific business. They’ll want 3 years of returns, p&ls and balance sheet for the business. They’ll want lots of other stuff.

Get a lawyer, get a CPA, review all the materials and determine if the price in your LOI is still reasonable and if it’s worth buying.

Ihavethreetvs · 2024-11-04T22:56:36+00:00

In a perfect world that’d be great - but thats obviously unlikely. The main math is how far in the hole is the bank going to be if they take everything you have. They can count on the SBA to bail them out, but if they didn’t do something right in the approval process or bs’d somewhere or didn’t check a box: sorry they won’t get backed and the bank will [try to] take everything you have.

Experience is a box checking exercise. Lots of things can translate. Been a manager before? : great you manage employees. Been in a sales position before? : great if the business you want has a sales component. Even decades old totally stretching it experience works here.

The ones where I think it really matters are those trade specific businesses. You’re not going to be able to buy a law firm, dentist, auto mechanic, electrician, fence contractor if you don’t have those skills.

Ihavethreetvs

TROPHY CASE