Adult Mature Advice Needed on a Business - TwoWheelForum: Motorcycle and Sportbike forums
 
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post #1 of 15 (permalink) Old 08-04-2006, 12:10 PM Thread Starter
 
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Adult Mature Advice Needed on a Business

Ladies and Gentlemen,

I am in much needed advice. Currently I have came up with an incredible idea on a business. Though, I am in much needed help. For those of you who have advice and are willing to give it out please here is your chance. I am currently nineteen years old, in college, working a full time job, and have decided to go out on a limb and possibly start a business of my own. For the most part it is fool proof as I can find. If anyone who reads this has own their own business or can give out legal advice it would be most welcome! The specifics on the business it self I am not willing to give out of obvious reasons.

Thanks,
Bill
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post #2 of 15 (permalink) Old 08-04-2006, 12:17 PM
 
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I started a small business when I was 16 under my mother's name so I know where you are coming from. As far as advice what you are asking is impossible to answer, because there is SO much you need to know. There are numerous books and websites out there to help you along. The SBA website has many thinks that you should look at. Problem with starting one so young is most likely you don't have any credit or not much which makes it VERY difficult to obtain a loan from a bank for startup capital. Maybe if you could narrow your questions down a little bit then we could help more. P.S. Startupnation is a pretty good site.
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post #3 of 15 (permalink) Old 08-04-2006, 12:20 PM
 
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I've gotten a lot of good advice from the Small Business Administration (SBA), SCORE, and my state Small Business Development Center. Start there.
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post #4 of 15 (permalink) Old 08-04-2006, 12:29 PM Thread Starter
 
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The business would only require a small loan which I am sure I could get my parents to lend me for marketing. The business I am looking to start as far as knowledge is concerned in the industry I have been doing since I was 16. Most of the contacts I have made to secure the contracts needed. I could do most of it over the phone until the product is delivered, and all could be done out of my home.
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post #5 of 15 (permalink) Old 08-04-2006, 12:31 PM Thread Starter
 
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This business would appeal to every one rich and poor, young and old. One thing that would help me is does anyone here have marketing knowledge such as TV Commercials, Newspaper Ads, Phone Book, Mailings, etc.

Thanks again,
Bill
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post #6 of 15 (permalink) Old 08-04-2006, 01:24 PM
 
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The telephone is your friend, newspapers and phone books just call em up and usually they have a website you can get on to place it (not just on the internet but in their hard copy) as far as TV goes I am sure if u call the station they will be able to give u a number for their marketing department. However dont underestimate word of mouth, I never placed any adds besides putting up some printed posters in gaming centers and game shops but I still had enough business to keep me very busy just from word of mouth.
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post #7 of 15 (permalink) Old 08-04-2006, 01:53 PM
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just by word of mouth, im managing a store that pulls in 350k a year, the whole trick is to treat your customers right and they will tell thier friends both good and bad



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post #8 of 15 (permalink) Old 08-04-2006, 02:30 PM
 
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...free legal advice from unknown people on the internet= Disaster

For specific legal advice as far as incorporation, taxes and liabilities....spend the couple hundred and sit down with a lawyer/accounting firm and have them answer a written LIST of your questions. Everything else is worth what you pay for.

For specific startup help, as others have said SBA and SCORE (a lotta these guys are GREAT!!)
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post #9 of 15 (permalink) Old 08-04-2006, 03:25 PM
 
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yeah i own a small business, with 2 other guys, we have equal partnership.

we started this when i was 17, and one of the other guys was 18. we started out as a NPO.

after we had an established name and the business started to actually move, we changed from NPO to an LLC.

We started our business with NO overhead capitol. saved up money to purchase flyers and things to start advertising, business cards business cards business cards!!!! talk to people, annoy the hell out of everyone (in moderation thats a figure of speech) you meet with your business, give EVERYONE a couple business cards. yes alot of them will goto waste, but what about that one guy you dont give 5 business cards to because you're tired of handing them out and all 5 of his buddies wanted exactly what you provide? advertisement is your biggest hill. once you get the name out there, if you deliver the customers will continue to flow.

i started this at the age of 17, in 2002, with 0$ in the bank.
in february of 2006 with a $600 investment, and for the most part...still $0 in the bank, we moved into our own office. per business cards flyers and word of mouth, july 1 2006, we moved from a 700 sq ft facility, to a 6200 sq foot facility, and now have over 5000 in the bank, in a matter of months. thats 5000 after paying all our overhead for this month. supplies bill, utilities, rent etc, and that amount continues to climb daily. I now work for my small business full time, and i am about to turn 21 years old.

keep in mind that it doesnt take off overnight, and DONT EVER LOSE SIGHT OF THE GOAL. anyone can start a small business, doing ANYTHING if they are good at it and it something that people want/need, and they really apply themselves.

good luck.
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post #10 of 15 (permalink) Old 08-04-2006, 06:35 PM
 
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business cards and on the card be sure to put a link to the company website... it is worth paying someone to design a functional website. Pass out a stack of business cards to all your friends so they can distribute them if the opportunity arises.. also you said that you had some clients... offer them future discounts for references...
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post #11 of 15 (permalink) Old 08-04-2006, 06:38 PM
 
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Quote:
Originally Posted by oldetymebiker
...free legal advice from unknown people on the internet= Disaster

For specific legal advice as far as incorporation, taxes and liabilities....spend the couple hundred and sit down with a lawyer/accounting firm and have them answer a written LIST of your questions. Everything else is worth what you pay for.
For specific startup help, as others have said SBA and SCORE (a lotta these guys are GREAT!!)
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post #12 of 15 (permalink) Old 08-04-2006, 08:48 PM
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post #13 of 15 (permalink) Old 08-04-2006, 09:50 PM
 
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Gman...where do u get those pics??????????
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post #14 of 15 (permalink) Old 08-04-2006, 10:36 PM
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Everywhere... mostly forums and such.




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is me till the
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post #15 of 15 (permalink) Old 08-04-2006, 10:38 PM
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Here's another for ya...






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aka Gas Man



Was: 2002 Kaw ZX-9R
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is me till the
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