Start Up Business - Looking for a crash course

[Delhommey]

Make it simpler and more about the bottom line. You aren't selling vacuums to housewives, you're selling a service to mid level IT managers.

They most likely already understand what you're doing. They'll probably need two things:

1. To know you're not a moron or sleezeball that will leave them in the lurch.

2. Numbers that the can easily show a non-technical person (whoever signs off on this) how much their company gains.

[bleys]

got ya... I will be working on scripts/rebuttals with a few different people... I'm very salesy by nature and haven't been able to get rid of it.. so thanks for confirming that, lol...

definitely glad you pointed that out since I'm not familiar with corporate, by any means.. (a lot of market research will be needed in that area)

I intend to talk with a few people/connections who can tell me what would make them pull the trigger, what they are looking for, what they pay now, and how to go about making it an easy process (get the word "go" from the owner and then take it out of his hands and pawn it off on someone he pays so I don't make it more complicated than he/she wants to deal with)

[charlotte49er]

got ya... I will be working on scripts/rebuttals with a few different people... I'm very salesy by nature and haven't been able to get rid of it.. so thanks for confirming that, lol...

definitely glad you pointed that out since I'm not familiar with corporate, by any means.. (a lot of market research will be needed in that area)

I intend to talk with a few people/connections who can tell me what would make them pull the trigger, what they are looking for, what they pay now, and how to go about making it an easy process (get the word "go" from the owner and then take it out of his hands and pawn it off on someone he pays so I don't make it more complicated than he/she wants to deal with)

You ought to talk with the SBA. (Small Business Administration) They provide consulting service and I believe it's free! They utilize retired excutives from various fields that have volunteered their time to helping out small businesses. I would get on their website and see what serices they offer. I think it's www.sba.org

Also the SBA has available millions/billions of dollars, more now with the stimulus package, to start up a small business. If you are married, put it in your wife's name and you even get more breaks due to her being a minority!

If I was going to start a business I would check there first. Good luck. I do know that a capital lease (Equipment (computer, telephones,etc), buildings even cars are tax deductable, but they aren't if you purchase them. (I would make sure the tax law hasn't changed on this though since I was in business.)

Also if you incorporate in Deleware of Navada, (maybe Florida) there is no Corp income tax. In Delaware you don't have to live there to be incorporated. I believe you just have to have a mailing address there. (Thank you Mailboxes etc) Now the UPS store.) Also there are remailing services, people who willpick your mail up for you and forward it onto you. WAY cheaper than incorporating in NC!

[bleys]

You ought to talk with the SBA. (Small Business Administration) They provide consulting service and I believe it's free! They utilize retired excutives from various fields that have volunteered their time to helping out small businesses. I would get on their website and see what serices they offer. I think it's www.sba.org

Also the SBA has available millions/billions of dollars, more now with the stimulus package, to start up a small business. If you are married, put it in your wife's name and you even get more breaks due to her being a minority!

If I was going to start a business I would check there first. Good luck. I do know that a capital lease (Equipment (computer, telephones,etc), buildings even cars are tax deductable, but they aren't if you purchase them. (I would make sure the tax law hasn't changed on this though since I was in business.)

Also if you incorporate in Deleware of Navada, (maybe Florida) there is no Corp income tax. In Delaware you don't have to live there to be incorporated. I believe you just have to have a mailing address there. (Thank you Mailboxes etc) Now the UPS store.) Also there are remailing services, people who willpick your mail up for you and forward it onto you. WAY cheaper than incorporating in NC!

thanks man.. are you referring to the state of Delaware? (Delaware of Nevada or FL threw me off) most of my family is from the state of Delaware, would only seem natural for a business address.. lol

I have searched through the site of SBA.org and have quite a few questions.. I have often thought SBA would be able to provide loans/grants for small businesses but from what I gather, they help you setup the business plan and find investors (which will require real credit and/or equity) one reason I need to call them and confirm if they can help at all.. there is mention of them backing up a business idea so investors are more likely to support a new business, but still thinking credit/equity is important..

I'll get on the phone as soon as they are available, need to find out...

and thanks for the tax tip.. I need to get with a CPA, but really if I can get this off the ground, I'm fairly certain I'll gain back any money spent that isn't tax deductible.. (however, never hurts to get the most out of any dollar spent)

any comments expanded on or any other tips greatly welcomed.... thanks to everyone, btw..

[Zod]

My best piece of advice is don't worry about all that technical crap. You won't be selling to the techies. Find a nice cushy PM and take him to a strip joint. He won't give half a shit about the technical jargon and will be more interested in whats in it for him.

/thread

[AKPantherFan]

1st- dont listen to Zod- terrible idea if you plan on being considered a credible business.

Always be professional

2nd- research accountant cost- safest way to cover your taxes and not be surprised come audit time.

3rd- Yes- the SBA-- Go online and look at the site, they have TONS of tools for you to help get started.

4th- There are a ton of grants and loans to help cover your startup cost- just do some research online and the SBA.

5th- MOST IMPORTANT- =-----Marketing ...it doesnt matter if you are offering the best service out there if people dont know about it. You need to develop a smart marketing plan that maximizes your exposure and gets your name out.

Have a solid business name, and a mission statement-- be clear in your goals, and what your customers can expect.

marketing will make or break you the most - unless your service is just terrible.

And last- hire the right people- dont just hire someone to fill a spot, make sure they are someone you can depend on, and you make sure they know that they will be rewarded for the hard work. That builds a great work ethic and ensures your get productivity even when you are not around.

[Carolina Husker]

Just let AK invest your start-up money instead.

[SmootsDaddy89]

I disagree with AK, I think you should hire people you can't depend on in the slightest.

[janosha]

Give me a call when you get things set up. We lose data all the time at the company I purchase for.

Thanks!

[Delhommey]

I disagree with AK, I think you should hire people you can't depend on in the slightest.

The great companies use marketing plans that make the company as invisible as possible too.

[charlotte49er]

thanks man.. are you referring to the state of Delaware? (Delaware of Nevada or FL threw me off) most of my family is from the state of Delaware, would only seem natural for a business address.. lol

Sorry, typo. Yes the State of Delaware. You might want to check out these sites:

http://www.legalzoom.com

http://www.bizfilings.com

Also check out this site:

http://www.bizbuysell.com

There maybe a business or franchise that does close or exactly what you are looking for.

I could talk for hours on what NOT to do about starting a business. Also could talk for hours on ideas advertising your business!

Also most banks have a Business Dept. They will help you with ideas because they want your business bank account. Citi or Chase will give you $100 for opening an Business account with them. BOA will help with loans, etc.

[TheSaint]

Open a Pizza Joint.

Ever see a pizza place fail??

They amaze me.

[KBRed]

Sorry, typo. Yes the State of Delaware. You might want to check out these sites:

http://www.legalzoom.com

http://www.bizfilings.com

Also check out this site:

http://www.bizbuysell.com

There maybe a business or franchise that does close or exactly what you are looking for.

I could talk for hours on what NOT to do about starting a business. Also could talk for hours on ideas advertising your business!

Also most banks have a Business Dept. They will help you with ideas because they want your business bank account. Citi or Chase will give you $100 for opening an Business account with them. BOA will help with loans, etc.

Honestly, I'm following this thread pretty closely myself. You mentioned advertising...what do you think the best way is? I'm just over a year old and am questioning every advertising method out there...from Internet, Yellowpages, Valpak, Emails, Mailers, etc.

Also, I started as an LLC, but was told investors want S-Corps, I'm guessing because there is less protection on the company, but not sure.

[bleys]

1st- dont listen to Zod- terrible idea if you plan on being considered a credible business.

Always be professional

2nd- research accountant cost- safest way to cover your taxes and not be surprised come audit time.

3rd- Yes- the SBA-- Go online and look at the site, they have TONS of tools for you to help get started.

4th- There are a ton of grants and loans to help cover your startup cost- just do some research online and the SBA.

5th- MOST IMPORTANT- =-----Marketing ...it doesnt matter if you are offering the best service out there if people dont know about it. You need to develop a smart marketing plan that maximizes your exposure and gets your name out.

Have a solid business name, and a mission statement-- be clear in your goals, and what your customers can expect.

marketing will make or break you the most - unless your service is just terrible.

And last- hire the right people- dont just hire someone to fill a spot, make sure they are someone you can depend on, and you make sure they know that they will be rewarded for the hard work. That builds a great work ethic and ensures your get productivity even when you are not around.

without real credit or equity, I'm not sure how easy it will be to find grants or loans.. this is actually something I would love to find out from someone who is more familiar with the options out there.. if you, or anyone, know any further details about this, I would definitely appreciate it... going to banks will be tough with the issue stated above..

Sorry, typo. Yes the State of Delaware. You might want to check out these sites:

http://www.legalzoom.com

http://www.bizfilings.com

Also check out this site:

http://www.bizbuysell.com

There maybe a business or franchise that does close or exactly what you are looking for.

I could talk for hours on what NOT to do about starting a business. Also could talk for hours on ideas advertising your business!

Also most banks have a Business Dept. They will help you with ideas because they want your business bank account. Citi or Chase will give you $100 for opening an Business account with them. BOA will help with loans, etc.

thanks for the links, I'll PM you on those advertising ideas, but the typical ways I'm fairly familiar with.. also, I may hire a call center to generate leads.. I will decide that later on though as it can be somewhat costly... (definitely worth it if there is a niche for this business though)

Honestly, I'm following this thread pretty closely myself. You mentioned advertising...what do you think the best way is? I'm just over a year old and am questioning every advertising method out there...from Internet, Yellowpages, Valpak, Emails, Mailers, etc.

Also, I started as an LLC, but was told investors want S-Corps, I'm guessing because there is less protection on the company, but not sure.

I'm not sure what business you are in and if it will be beneficial or if it's something you'll be comfortable in, but check out BNI.com ... you will find many many groups right around you of 4 - 30 people who are there to generate referrals for each other... no one group will have 2 of the same business in that group.. it is a fairly strict networking group, meaning they keep tabs every week on how many referrals are generated and if they were legit.. you can only miss 1 day (so you will need someone who can step in if you go on vacation or are sick) and it cost $400 a year to join..

but it is a fairly serious group, so it should be worth the money.. if you join, you will have to take a type of introductory class and they will teach you everything you need to know about being successful within that group. You can go to 1 or 2 meetings per group for free to find which one you like, or if it's for you at all...

people who are in real estate, health insurance, carpet cleaning, wedding planners, whatever the case, usually find it valuable.. then again, if it's not your thing, no harm no foul.. worth checking out..

let me know your business.. may have a few ideas on it myself other than BNI.. referrals are always the way to go if you have a decent customer base. I would send mailers out to your clientele and ask for referrals, throw out a discount for 2nd time business or a gas card for referrals.. perhaps once a month call your client list and ask them how they are doing..

a hot lead or some one that feels comfortable with you will go further than any other method..

Give me a call when you get things set up. We lose data all the time at the company I purchase for.

Thanks!

these are the type of comments I like to see.. mostly because I see there may be a real niche in this business.. If you don't mind, I'd like to pick your brain about a few things in PM..