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| Topic: Today's Entrepreneurs .. | |
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(def .. one who organizes, manages and assumes the risks of a business or enterprise .. ie new venture) Are you one?
I am moving outside the corporate mold. Tired of knocking on doors that aren't opening and instead creating my own PR/promotions company. I believe in today's economic and business realm, one has to think outside the box. So .. have you done it? If so, what tips would you share that really helped you take off?  I know the risks, I want to hear the rewards  *pulls up a chair and waits for feedback* 
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Edited by
red_lace
on
Sun 10/10/10 07:19 AM
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Yes, I have. Been immersed in it, since I was a kid, because my parents have owned and ran businesses of all kinds. It's a broad subject to discuss, but off the bat, the best advice I can share with you are the following:
Know your business, and I mean EVERYTHING about it. Love what you do. Watch over it and nurture it like you would a beloved child. And have faith in yourself. Be willing to take risks, but make calculated ones. The first year is always the hardest. Be prepared to not make any remarkable income when you start. In terms of rewards, it really differs from entrepreneur to entrepreneur. Some people think it's easy, but it's actually harder to own and run your own business than just be a paid employee. Since you're the owner, you worry about all the details. But of course, there is nothing like being your own boss. When you own a business, you have all the room for growth that you would need, in all aspects. My dad always told me that nobody got rich from being an employee.  In any case, good luck and I wish you good fortune! |
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Thanks Red .. yes, my daddy was in his own business as well. He had lots of headaches running it, but was his own man. If it rose, he was responsible. If it fell .. the same.
He did decent for sure. |
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 Well I can see M2 is NOT the place for this thread  Different culture, different galaxy I guess 
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(def .. one who organizes, manages and assumes the risks of a business or enterprise .. ie new venture) Are you one? I am moving outside the corporate mold. Tired of knocking on doors that aren't opening and instead creating my own PR/promotions company. I believe in today's economic and business realm, one has to think outside the box. So .. have you done it? If so, what tips would you share that really helped you take off? I know the risks, I want to hear the rewards *pulls up a chair and waits for feedback* Depending on what you decide to do and how you decide to do it the risk is really minimal. I'm out about $250-$300 on a venture that will last until August of next year. Rewards? Honestly, nothing really. The only reward is that I own a website that is acting as a blog and 3rd party of sales from affiliate programs that have netted me exactly zero dollars. Advertising has made me the most money with a astronomical 10 entire dollars (that's about eight 1 litre Mountain Dews). Starting a business now isn't quite what it used to be, had I started my venture when I initially thought of it in 2005 I would be booming at this point in time. It takes a lot of time and energy to get anywhere creating your own business, and you might not see anything from it the first year...even the second and third years. |
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(def .. one who organizes, manages and assumes the risks of a business or enterprise .. ie new venture) Are you one? I am moving outside the corporate mold. Tired of knocking on doors that aren't opening and instead creating my own PR/promotions company. I believe in today's economic and business realm, one has to think outside the box. So .. have you done it? If so, what tips would you share that really helped you take off? I know the risks, I want to hear the rewards *pulls up a chair and waits for feedback* Depending on what you decide to do and how you decide to do it the risk is really minimal. I'm out about $250-$300 on a venture that will last until August of next year. Rewards? Honestly, nothing really. The only reward is that I own a website that is acting as a blog and 3rd party of sales from affiliate programs that have netted me exactly zero dollars. Advertising has made me the most money with a astronomical 10 entire dollars (that's about eight 1 litre Mountain Dews). Starting a business now isn't quite what it used to be, had I started my venture when I initially thought of it in 2005 I would be booming at this point in time. It takes a lot of time and energy to get anywhere creating your own business, and you might not see anything from it the first year...even the second and third years. Thx for posting Fear. Looks like you and Red are the creative minds of the group. Woot. 2 is good 
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I am considering starting a non-profit.
Like red said.... do your research. If you aren't going to do the books, make sure you have a CPA that you trust. Ask other business people you trust who they use and recommend. Since you want to do PR/Entertainment.... put yourself into situations where you can build your network. Having a good solid business plan will be key. And pray, baby, pray! |
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work is overrated...I gave it up years ago...prefer to be dirt poor and free from the corporate world...
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I am considering starting a non-profit. Like red said.... do your research. If you aren't going to do the books, make sure you have a CPA that you trust. Ask other business people you trust who they use and recommend. Since you want to do PR/Entertainment.... put yourself into situations where you can build your network. Having a good solid business plan will be key. And pray, baby, pray! Oh I've got that last part covered .. on a regular basis =) Thanks for the support Tanya. I use to do bookkeeping for the Wall Street Journal so I think I'd be good to go on that at the beginning at least. And yes, networking IS key isn't it .. That was a huge part of my last career .. networking and negotiation
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I once had a lemonade stand when I was a kid........
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It takes an incredible amount of energy to start your own business and I definitely don't have that. But, I can see you doing it very successfully, Judy. I would imagine the rewards would go far beyond the financial freedom you would eventually achieve. Good luck to you. I'm sure you will succeed beyond your wildest dreams.
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work is overrated...I gave it up years ago...prefer to be dirt poor and free from the corporate world... Great idea. Why didn't I think of that  I'll just let my kids starve. 
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I once had a lemonade stand when I was a kid........ O M G !!!!!! So did I!!!!!! Who woulda thought eh?
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It takes an incredible amount of energy to start your own business and I definitely don't have that. But, I can see you doing it very successfully, Judy. I would imagine the rewards would go far beyond the financial freedom you would eventually achieve. Good luck to you. I'm sure you will succeed beyond your wildest dreams. Well how kind of you to say Ruth.  I sure hope you're right!!! I used to be told I could have been the CEO of the company I worked for .. but figured it was just flattery 
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I once had a lemonade stand when I was a kid........ O M G !!!!!! So did I!!!!!! Who woulda thought eh? I get the feeling you are being sarcastic.........
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Hi Fade,
I've been doing it for 21 yrs... Would I do it over again? Not on your life! I worked 6 days a week for 15 of those years and watched friends rake in huge money and benefits out the wazoo. I'm the turtle in the story... steady, no financial stupidities and persistence. I started with $500 in my dads basement after being laid off as a executive sales rep... carte blanche credit card for entertainment, company sports car and 8 weeks vacation per year. The 80K a year plus bonuses wasn't bad.... For a 20yr old. Today, Close to a million in sales between both companies and you'd think things would get a little easier but employees are like children who need constant supervision. Here's my advice 1)Carry the least amount of inventory possible (it's your paycheque "in storage") 2)If possible, run it yourself without employees 3)Pay yourself FIRST 4)Be quick to spot opportunities... Often a business starts a certain way then Morphs into something else. Let it! I've dealt with numerous PR firms... From selling ideas and promotional items(pens, cups, notepads etc) to revamping corporate look. Stay specialized, too many jack of all trades and..... SELL YOURSELF! From all the years I've known you(none) You seem like the go-getter type... with time, your customers will listen to you like the gospel and be loyal. Funny but I saw you more as a real estate agent Cheers |
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I once had a lemonade stand when I was a kid........ O M G !!!!!! So did I!!!!!! Who woulda thought eh? I get the feeling you are being sarcastic.........  
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work is overrated...I gave it up years ago...prefer to be dirt poor and free from the corporate world... Great idea. Why didn't I think of that I'll just let my kids starve. well, Im lucky, my kid is all grown up and taking care of himself... 
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Edited by
Fade2Black
on
Tue 10/12/10 11:09 AM
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Hi Fade, I've been doing it for 21 yrs... Would I do it over again? Not on your life! I worked 6 days a week for 15 of those years and watched friends rake in huge money and benefits out the wazoo. I'm the turtle in the story... steady, no financial stupidities and persistence. I started with $500 in my dads basement after being laid off as a executive sales rep... carte blanche credit card for entertainment, company sports car and 8 weeks vacation per year. The 80K a year plus bonuses wasn't bad.... For a 20yr old. Today, Close to a million in sales between both companies and you'd think things would get a little easier but employees are like children who need constant supervision. Here's my advice 1)Carry the least amount of inventory possible (it's your paycheque "in storage") 2)If possible, run it yourself without employees 3)Pay yourself FIRST 4)Be quick to spot opportunities... Often a business starts a certain way then Morphs into something else. Let it! I've dealt with numerous PR firms... From selling ideas and promotional items(pens, cups, notepads etc) to revamping corporate look. Stay specialized, too many jack of all trades and..... SELL YOURSELF! From all the years I've known you(none) You seem like the go-getter type... with time, your customers will listen to you like the gospel and be loyal. Funny but I saw you more as a real estate agent Cheers Good stuff .. thanks!!! fyi .. REAL ESTATE??????? In THIS market ??? I said I wanted it to succeed babe .. not drown Oh .. and I won't HAVE any employees. I plan on contracting out my 'services' not 'products' .. hence no inventory. And my big plus is my persuasive skills  My last VP told me I could definitely lead a cult ... Hmmmmmmmmmm anyone for some KOOLAID
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Edited by
JOHNN111
on
Tue 10/12/10 11:15 AM
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Hi Fade, I've been doing it for 21 yrs... Would I do it over again? Not on your life! I worked 6 days a week for 15 of those years and watched friends rake in huge money and benefits out the wazoo. I'm the turtle in the story... steady, no financial stupidities and persistence. I started with $500 in my dads basement after being laid off as a executive sales rep... carte blanche credit card for entertainment, company sports car and 8 weeks vacation per year. The 80K a year plus bonuses wasn't bad.... For a 20yr old. Today, Close to a million in sales between both companies and you'd think things would get a little easier but employees are like children who need constant supervision. Here's my advice 1)Carry the least amount of inventory possible (it's your paycheque "in storage") 2)If possible, run it yourself without employees 3)Pay yourself FIRST 4)Be quick to spot opportunities... Often a business starts a certain way then Morphs into something else. Let it! I've dealt with numerous PR firms... From selling ideas and promotional items(pens, cups, notepads etc) to revamping corporate look. Stay specialized, too many jack of all trades and..... SELL YOURSELF! From all the years I've known you(none) You seem like the go-getter type... with time, your customers will listen to you like the gospel and be loyal. Funny but I saw you more as a real estate agent Cheers Good stuff .. thanks!!! fyi .. REAL ESTATE??????? In THIS market ??? I said I wanted it to succeed babe .. not drown Ya think? It's been in the chitter for a while now.... Most people gave it up already... I think your opportunity may be in gearing up for when things do take off.... you'll be in the drivers seat  Spot opportunities! Not that I think you should be doing it as a career or anything but your online personality screams it. Things will fall into place eventually.... The harder you work at it... the luckier you'll get Good luck! EDIT* OR Start a cult!
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