Re: [TCLUG:11792] [TCLUG] I'd like some opinions on a business

[Philip C Mendelsohn <mend0070@tc.umn.edu>]

On Sat, 1 Jan 2000, Chad Juettner wrote:

> It sounds great. Have you thought about how you'll fund your new business?
> If all you've had are minimum wage jobs, where are you going to get the
> cash for your first few machines?

As an independent proprietor of a business, I have to say that there are
two points that you should be completely sure of before you start -- this
is intended as helpful strategies, and the voice of my own limited exp.

1:	Make sure that you have the dough to last 12 mos, minimum with $0 in
sales.  Not just enough to pay for your first couple of machines.

2:	Don't even think about fancy things like expensive locations or
non-essential office supplies / equipment / "image" things, UNTIL YOU CAN
PAY FOR IT OUT OF SALES INCOME.  A business is an easy way to go on a
shopping spree, if you're not careful -- look at Excelsior-Henderson, and
don't do *anything* they did.

Start small, build boxes, sell them, and don't worry about anything
else.  It will all come to you when you've got your nose to grindstone,
but it's hard to find when you're looking for it.

> What are you going to do that VA doesn't, if that's who you're planning on
> competing against?

And, remember to keep that differentiation in mind, and also remember to
sell, not market.  Marketing is the bane of the small business, when good
sales are initially needed.  Learn the difference between the two!

> Keep us posted on how things are going, and remember us when it's IPO
> time.

> Good luck!

Yes, Good luck!  And if your luck is good enough, you'll never want to go
IPO, but will be able to stay privately held for eternity!

Happy New Year,

Phil M

-- 
Life is complex:
It has real and imaginary components.
                     --Unknown