SO who here started a small business?

[Alle_Gory]

I'm interested in starting a small business. Who here has one and what challenges have you overcome along the way?

 

[AAAgent]

my father started a small business at age 20 and made out pretty well. he also started another small business recently and that has turned out well. i grew up my whole life in and out of his small businesses.

 

[Alle_Gory]

I'm trying to start a computer repair business. Most of the people I know are clueless about computers and too lazy to do anything themselves or other reasons.

This is where I come in.

I would be doing software stuff.

Fixing things like driver problems
Repairing stupid things people do like trying to delete windows when running windows... etc.
Telling you why that Xbox game does not work on your computer and charging for my time .

 

[AAAgent]

sounds like a great business idea if its a something part time. Just give out your cell phone number, post some ad's in the newspaper, market through friends, family, etc. Print flyers and post them in local shops and see how it goes. Worse thing to happen is you lose a few bucks advertising. you don't need to rent space or really buy equipment, no employee's, basically you have no overhead and don't need to manage much except your clients.

 

[Alle_Gory]

sounds like a great business idea if its a something part time. Just give out your cell phone number, post some ad's in the newspaper, market through friends, family, etc. Print flyers and post them in local shops and see how it goes. Worse thing to happen is you lose a few bucks advertising. you don't need to rent space or really buy equipment, no employee's, basically you have no overhead and don't need to manage much except your clients.

Exactly. All I need is a USB key full of diagnostic software. Which I already have since my family insists on buying cheap, flaky hardware! I've had too much practice already.

And a website helps.

What I'm interested in:

I would be charging for consultation. $15-20 just to look at the problem. Gas and travel is pricey. Good idea?
What happens if someone does not want to pay?

 

[AAAgent]

in this bad economy people are trying to save as much money as they can. so give them more options to save. Like tell them u'll give them free consultation if they travel to your place but if you travel there it will be 15-20. Show them how your better than others, compare prices, etc. Also be professional about what you do. bring all your equipment. make sure if they come to your place your room or wherever your working looks like its meant to do this stuff. It will relax them more and get them more willing to work with you because it seems like you know what your doing. Your young too, some people may use that against you.

 

[wolf116]

My friend started a small mobile computer repair business.

He got a small van with all sorts of spare parts and tools.
Made a website and put a few adds in papers.
and that was it.

You will need to know all about office networks because you will be called out about that stuff all the time.

You could also offer remote assistance for a reduced price.
Like you take control of their computer over TeamViewer from your home to do the software repairs.

 

[STR8UP]

Keep in mind that you aren't really talking about a "business", it's "self employment".

I'm not saying that working for yourself isn't better than working for someone else cause hands down it IS, but if your income is 100% dependent upon your active involvement it is more of a job than a business, and it can be tough at times because as the owner you not only have to deal with tasks at hand but you also have to worry about the money, the books, taxes, etc.

Go for it....just understand what you are getting yourself into.

 

[Alle_Gory]

Keep in mind that you aren't really talking about a "business", it's "self employment".

Yeah, true. I'm thinking self-employment with a potential to be a business later.

Any resources you recommend?

 

[ready123]

Exactly. All I need is a USB key full of diagnostic software. Which I already have since my family insists on buying cheap, flaky hardware! I've had too much practice already.

And a website helps.

What I'm interested in:

I would be charging for consultation. $15-20 just to look at the problem. Gas and travel is pricey. Good idea?
What happens if someone does not want to pay?

I used to fix computers for a living and I'd really encourage you to learn how to troubleshoot and fix hardware too. If you have good working knowledge of software, hardware, and networking you'll be able to diagnose almost anything. What you'll find is as long as you don't have to order parts, you'll make a good amount of money.

My old boss used to fix laptops as a side thing. He'd charge $80 total for what amounted to 1 to 2 hours of work.

 

[daring wraith]

I started my first company, Virtual Matrix Technologies Ltd in september 05, an import/export outsourcing company providing distributor SMEs with products. My partner and i sold it two years later.
Im also a partner in my fathers company, a real estate and property management firm, Wynard Investments.

 

[bigjohnson]

Everyone thinks they can fix computers. Very competitive.

I'm opening a cyber-cafe or two in the next year just to see what happens.

 

[Julian]

Keep in mind that you aren't really talking about a "business", it's "self employment".

I'm not saying that working for yourself isn't better than working for someone else cause hands down it IS, but if your income is 100% dependent upon your active involvement it is more of a job than a business, and it can be tough at times because as the owner you not only have to deal with tasks at hand but you also have to worry about the money, the books, taxes, etc.

Go for it....just understand what you are getting yourself into.

Self employment can still be considered a business. Its called a sole proprietorship.

 

[EA Gold]

I hope you Find the Right Business to Start, If you do it right you maybe set for life

 

[dbot]

I started a company a couple years ago. Internet service fullfilment. Incorporate right away. If your company is mobile or virtual, go for a Nevada S-Corp or LLC, and you won't have to pay taxes. Never do business under your own name, unless you want to get sued and lose your personal assets. I learned this the hard way.

 

[Alle_Gory]

I started a company a couple years ago. Internet service fullfilment. Incorporate right away. If your company is mobile or virtual, go for a Nevada S-Corp or LLC, and you won't have to pay taxes. Never do business under your own name, unless you want to get sued and lose your personal assets. I learned this the hard way.

THANK YOU!!

This is the kind of stuff I'm looking for. What is a Nevada S-Corp? I'm in Canada, so if you know what category of business it is maybe we have the same thing here.

Also, what about other liabilities. Let's say I mess up someone's computer, or it breaks through no fault of my own and the customer goes ape-****.

 

[STR8UP]

Self employment can still be considered a business. Its called a sole proprietorship.

Don't get confused here.

A plumber might own "Joe's Plumbing" under and type of entity, the worst one being a sole proprietorship, but he can also own it under an LLC, an S-corp, or a C-corp, where if he is still essentially "self employed".

When I speak of self employment for this purpose what I am talking about is that although you technically "own a business", the business really owns YOU.

In other words, the income from a labor based business that is a one man operation is derived solely from the efforts of the individual, and as such it should be distinguished from a "business" in the sense that if it were a true business, the income could come in regardless of his involvement.

Now that doesn't mean that having a day to day part in your company is a bad thing (rest assured you will almost always have to bust your ass to get it off the ground) but the goal should be to build a REAL business that can support itself AND leave dividend income for you.

This will usually mean that you will have to get enough business to hire employees to work underneath you, and once this happens it will show you a whole 'nother facet to running a business that you might never have counted on. Think of all of the lazy idiots you have worked with in the past. Well, if you get good at weeding some of them out in the hiring process you can minimize the number of them that you employ, but rest assured, you will be stolen from, lied to, and manipulated more than you can imagine.

As for liability- as a one man band you should at least structure your business as an LLC. Doesn't mean that you won't be immune if someone sues you, but you AND your employees will be responsible for a whole bunch of sh!t when anyone operates under your name. And be prepared for people to accuse you of messing something up when you know that you couldn't possibly have damaged it. It WILL happen.

The good thing for you is that generally people will look at a one man operation as small fish and you aren't likely to get a lot of lawsuits unless you get bigger. Once that happens, you have a target painted on your back though.

Good luck.

 

[Jon55]

THANK YOU!!

This is the kind of stuff I'm looking for. What is a Nevada S-Corp? I'm in Canada, so if you know what category of business it is maybe we have the same thing here.

Also, what about other liabilities. Let's say I mess up someone's computer, or it breaks through no fault of my own and the customer goes ape-****.

x2. This is the kind of stuff I'd like to read about.

 

[AAAgent]

since your in canada, canadian laws differ from u.s.

 

[Alle_Gory]

since your in canada, canadian laws differ from u.s.

I know, but the systems are very close. The advice is still useful.



Anyway, little update. I'm almost finished my site. Its going to go live in a few days. I'm now looking for content to add value and get some traffic.

I can't say which site it is because that would identify me in real life and I still need to register the domain name.