envirojeff Posted August 8, 2005 Share Posted August 8, 2005 I've done a ton of research and I'm ready to take the plunge! It's a WISP targeted at dial-up customers who need speed and cable customers who want to cut there bill in half. I'm in a VERY rual area and it should fly. Jeff Link to comment Share on other sites More sharing options...
mead107 Posted August 8, 2005 Share Posted August 8, 2005 go for it Link to comment Share on other sites More sharing options...
VRWC Posted August 8, 2005 Share Posted August 8, 2005 Make sure you're the primary or only shareholder. I would not recommend going into business with a partner unless you have a lawyer draw up a good agreement between the parties. I was burned big time in the past, never again will I go into business without full control / ownership. Good luck! Link to comment Share on other sites More sharing options...
IDBillzFan Posted August 8, 2005 Share Posted August 8, 2005 I'll trust you wrote a business plan, yes? Have you arranged everything you need to address invoicing, collections, proper cash flow, customer service, tech support...? Have you incorporated? S-Corp? LLC? Sole Proprietor? Do you have the required insurance and legal docs in place? Link to comment Share on other sites More sharing options...
envirojeff Posted August 8, 2005 Author Share Posted August 8, 2005 I'll trust you wrote a business plan, yes? Have you arranged everything you need to address invoicing, collections, proper cash flow, customer service, tech support...? Have you incorporated? S-Corp? LLC? Sole Proprietor? Do you have the required insurance and legal docs in place? 401839[/snapback] Before I go full bore, I'm going to start out with about 10 houses (customers) IE neighbors, friends to work out any bugs. Then I'll get all my legal docs and 800 number, p.o. box, marketing...together. Jeff Link to comment Share on other sites More sharing options...
buckeyemike Posted August 8, 2005 Share Posted August 8, 2005 One of the smartest things I ever did was striking out on my own...I set my own hours and never complain about the boss. Make sure you have enough money to overcome cash-flow problems for at least the first couple of years; then get all of your legal ducks in a row. This type of business sounds like you may want to incorporate as well. Mike Link to comment Share on other sites More sharing options...
ofiba Posted August 8, 2005 Share Posted August 8, 2005 Try to make more money then you spend. Link to comment Share on other sites More sharing options...
brihs2005 Posted August 8, 2005 Share Posted August 8, 2005 Reduce the amount of overhead you start with. Was part of a start-up company in college and the owner (a recent college graduate) was set on having our own office before we had any customers, needless to say i quit a week later as i realized she was more in it for fun than to make a profit. Reduce overhead, work out of your garage, etc. Good Luck Link to comment Share on other sites More sharing options...
Nervous Guy Posted August 8, 2005 Share Posted August 8, 2005 don't smoke. Link to comment Share on other sites More sharing options...
JohnnyFairPlay001 Posted August 8, 2005 Share Posted August 8, 2005 don't smoke. 401939[/snapback] or drink Link to comment Share on other sites More sharing options...
stuckincincy Posted August 8, 2005 Share Posted August 8, 2005 I've done a ton of research and I'm ready to take the plunge! It's a WISP targeted at dial-up customers who need speed and cable customers who want to cut there bill in half. I'm in a VERY rual area and it should fly. Jeff 401754[/snapback] I'm not a wireless user, but I understand there are security issues. Perhaps it would be useful to get those ducks in order and use it for marketing. Sometimes, folks in very rural areas are there because they value their privacy. Just a thought. Link to comment Share on other sites More sharing options...
IDBillzFan Posted August 8, 2005 Share Posted August 8, 2005 Before I go full bore, I'm going to start out with about 10 houses (customers) IE neighbors, friends to work out any bugs. Then I'll get all my legal docs and 800 number, p.o. box, marketing...together. Jeff 401877[/snapback] Not to piss in your Cheerios, but you're making a number of mistakes here. 1) Don't ever test out your business on friends and neighbors unless they're all expendable and sign waivers. If you're confident in your product, then find real clients and cut them a deal to help put you on the map. Then point to your successes and build upon them. But don't ever do this with friends. 2) Don't ever test out your business on anyone without proper legal and insurance coverage. It's like banging Paris Hilton without a condom. 3) Don't ever make this leap of faith without a business plan in place. If you don't have a clear understanding, in writing, of what you're trying to do, you'll only ever do it half-assed because despite how much you think you know, you never fully think it all through until you put it in writing. (Someone else commented on ensuring you have fund to cover cash flow. Very true words. Heed them carefully. Cash flow is your king. Make sure it gets most of your attention.) Alternately, you can shrug off these suggestions and still be successful. It's just my two cents from spending two years going through due diligence with small business owners before starting my own gig. It's not gospel. Just sound, proven advice. Link to comment Share on other sites More sharing options...
envirojeff Posted August 8, 2005 Author Share Posted August 8, 2005 Not to piss in your Cheerios, but you're making a number of mistakes here. 1) Don't ever test out your business on friends and neighbors unless they're all expendable and sign waivers. If you're confident in your product, then find real clients and cut them a deal to help put you on the map. Then point to your successes and build upon them. But don't ever do this with friends. 2) Don't ever test out your business on anyone without proper legal and insurance coverage. It's like banging Paris Hilton without a condom. 3) Don't ever make this leap of faith without a business plan in place. If you don't have a clear understanding, in writing, of what you're trying to do, you'll only ever do it half-assed because despite how much you think you know, you never fully think it all through until you put it in writing. (Someone else commented on ensuring you have fund to cover cash flow. Very true words. Heed them carefully. Cash flow is your king. Make sure it gets most of your attention.) Alternately, you can shrug off these suggestions and still be successful. It's just my two cents from spending two years going through due diligence with small business owners before starting my own gig. It's not gospel. Just sound, proven advice. 401981[/snapback] All good advice and I'll take it to heart. The whole reason for this thread was to collect ideas and keep them in mind. Your two cents is worth much more to me than that. Jeff Link to comment Share on other sites More sharing options...
Hardy Pyle Posted August 8, 2005 Share Posted August 8, 2005 Get a good accountant. Link to comment Share on other sites More sharing options...
Fezmid Posted August 8, 2005 Share Posted August 8, 2005 Get a good accountant. 402119[/snapback] Also remember that accountants are NOT the same as tax professionals. You might want to talk to a tax pro to get some advice on lowering your taxes. My wife works part-time as a tax advisor (for H&R Block) and she said accountants are generally the worst when it comes to tax time because they don't know the tax laws at all. CW Link to comment Share on other sites More sharing options...
Buckey Posted August 8, 2005 Share Posted August 8, 2005 Before I go full bore, I'm going to start out with about 10 houses (customers) IE neighbors, friends to work out any bugs. Then I'll get all my legal docs and 800 number, p.o. box, marketing...together. Jeff 401877[/snapback] You really need to incorporate now so you can write off all your start up expenses. Go S-Corp and make sure you have a good accountant. Link to comment Share on other sites More sharing options...
Buckey Posted August 8, 2005 Share Posted August 8, 2005 Not to piss in your Cheerios, but you're making a number of mistakes here. 1) Don't ever test out your business on friends and neighbors unless they're all expendable and sign waivers. If you're confident in your product, then find real clients and cut them a deal to help put you on the map. Then point to your successes and build upon them. But don't ever do this with friends. 2) Don't ever test out your business on anyone without proper legal and insurance coverage. It's like banging Paris Hilton without a condom. 3) Don't ever make this leap of faith without a business plan in place. If you don't have a clear understanding, in writing, of what you're trying to do, you'll only ever do it half-assed because despite how much you think you know, you never fully think it all through until you put it in writing. (Someone else commented on ensuring you have fund to cover cash flow. Very true words. Heed them carefully. Cash flow is your king. Make sure it gets most of your attention.) Alternately, you can shrug off these suggestions and still be successful. It's just my two cents from spending two years going through due diligence with small business owners before starting my own gig. It's not gospel. Just sound, proven advice. 401981[/snapback] Good advice, But I doubt he'll need insurance. Try a free-legal membership to cover yourself. Link to comment Share on other sites More sharing options...
Buckey Posted August 8, 2005 Share Posted August 8, 2005 Also remember that accountants are NOT the same as tax professionals. You might want to talk to a tax pro to get some advice on lowering your taxes. My wife works part-time as a tax advisor (for H&R Block) and she said accountants are generally the worst when it comes to tax time because they don't know the tax laws at all. CW 402152[/snapback] some are both. Link to comment Share on other sites More sharing options...
Fezmid Posted August 8, 2005 Share Posted August 8, 2005 some are both. 402162[/snapback] Some, but most people assume all accountants can do taxes well because a lot of accountants say, "Yeah, I do taxes." They just don't let their clients know that they don't do it well at all. CW Link to comment Share on other sites More sharing options...
Stussy109 Posted August 8, 2005 Share Posted August 8, 2005 Start SMALL to grow big... Dnn't get too excited and overspend like I did. Keep expenses to a minimum, and buy only what is absolutley necessary. Expand when it is required. Wouldn't hurt to have a secondary income coming in for a safety net, like a regular job. Link to comment Share on other sites More sharing options...
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