Small Business Owners
- Thread starter bballbaby
- Start date
Indeed.
Even though I sometimes wonder if I'm doing the right thing given the current economic situation I think I'm in a better boat than I'd be working for someone else, constantly wondering if the axe is going to fall. I can't lay myself off, I'm my companies biggest asset! :glassesgr
As far as starting a business in this economic climate, remember that many businesses that are nationally recognized today were actually founded or experienced significant expansion during the Great Depression. Among them, Motorola, Hewlett Packard, Ryder (and a bunch of other trucking companies), Revlon, Converse, La-Z-Boy, Xerox, Unisys, Texas Instruments, Howard Johnsons and Marriott.
Illegitimi Non Carborundum
:thumbsup::thumbsup:Indeed.
Even though I sometimes wonder if I'm doing the right thing given the current economic situation I think I'm in a better boat than I'd be working for someone else, constantly wondering if the axe is going to fall. I can't lay myself off, I'm my companies biggest asset!
As far as starting a business in this economic climate, remember that many businesses that are nationally recognized today were actually founded or experienced significant expansion during the Great Depression. Among them, Motorola, Hewlett Packard, Ryder (and a bunch of other trucking companies), Revlon, Converse, La-Z-Boy, Xerox, Unisys, Texas Instruments, Howard Johnsons and Marriott.
Illegitimi Non Carborundum
njstone
BoM January 2010
I've started 2 small businesses, both successful and both short-term (3-5 years). I'm currently thinking and praying about starting another.
#1) The thing that matters most is how passionate you are about doing that particular job/task/skill/whatever it is. If you love what you're doing, you'll find it MUCH MUCH MUCH easier to put in the time needed to get it up and running. If you don't like it...nay, LOVE it...I can almost guarantee you it will fail. Don't waste your life on anything less than the complete fulfillment of your destiny.
#2) Don't quit your day job until you have to. This keeps you stable and keeps the pressure off (too much pressure will crush your little baby--if you obsess about it you'll probably kill it quickly). If you really want this to work, then you'll put in all the extra time possible to make it work. If you are able, as you become more successful, slowly take away time from your "day job" and spend more time on the buisness. At some point, you'll find that time-wise something will have to give--then make the decision whether to do this full-time or not.
[FYI--If you are currently unemployed and wanting to start your own buisness as a way to make money...think again. Only in the rarest cases will you be making any real money for months and months. At the least, get a part-time job doing something that you don't hate with hours that allow you to maximize your efforts in your new buisness. If you're hoping this will be your sole income, you'll probably end up bailing on it before you should, simply because you need the money...don't put that much pressure on it. Everything takes time to grow.]
3) Get your family behind you 100%. If possible, maybe others can actually help get you off the ground. People at least need to be supportive and willing to sacrifice their personal time with you for a little while when you're getting started. There will be times that you'll want to quit or get really frustrated, having the help and support of those closest to you will probably mean the difference between failure and success.
#1) The thing that matters most is how passionate you are about doing that particular job/task/skill/whatever it is. If you love what you're doing, you'll find it MUCH MUCH MUCH easier to put in the time needed to get it up and running. If you don't like it...nay, LOVE it...I can almost guarantee you it will fail. Don't waste your life on anything less than the complete fulfillment of your destiny.
#2) Don't quit your day job until you have to. This keeps you stable and keeps the pressure off (too much pressure will crush your little baby--if you obsess about it you'll probably kill it quickly). If you really want this to work, then you'll put in all the extra time possible to make it work. If you are able, as you become more successful, slowly take away time from your "day job" and spend more time on the buisness. At some point, you'll find that time-wise something will have to give--then make the decision whether to do this full-time or not.
[FYI--If you are currently unemployed and wanting to start your own buisness as a way to make money...think again. Only in the rarest cases will you be making any real money for months and months. At the least, get a part-time job doing something that you don't hate with hours that allow you to maximize your efforts in your new buisness. If you're hoping this will be your sole income, you'll probably end up bailing on it before you should, simply because you need the money...don't put that much pressure on it. Everything takes time to grow.]
3) Get your family behind you 100%. If possible, maybe others can actually help get you off the ground. People at least need to be supportive and willing to sacrifice their personal time with you for a little while when you're getting started. There will be times that you'll want to quit or get really frustrated, having the help and support of those closest to you will probably mean the difference between failure and success.
Soundwave13
BoM Feb 2010
I remember recommending that you consider this as an option... (Maybe that was Wade) I'd like to start something myself & have developed a half-dozen different business plans, none of which have taken off though.
I'm still resentfully employed though. I should be greatfull. I just feel like another piece of me dies every day. I need something to get 100% behind.
Keep your resume updated & always keep your eyes open for opportunity, but if this business plan looks good, I say go for it!!! I'm excited for you & wish you all the luck!
I'm still resentfully employed though. I should be greatfull. I just feel like another piece of me dies every day. I need something to get 100% behind.
Keep your resume updated & always keep your eyes open for opportunity, but if this business plan looks good, I say go for it!!! I'm excited for you & wish you all the luck!
Thanks for all the advice fellas. This is the kind of feeback i was looking for. I like the point that stogieshogies made...all the people with jobs say no way, small business owners say heel yes.
As for me, i'm unemployed. got terminated by the man for rather wishy washy reasons. but that's another story.
So for me, what have i got to lose?!?!
I'm looking to open a small bistro/deli/catering business with the positive plan of turning it into a full blown restaurant when the time is right. I live in a rural ohio county of about 35000 people. The only restaurants to speak of are about 15 pizza joints, a chinese buffet, every fast food option available to mankind, a hand full of greezy spoons that fry just about everything and a very low end franchise steakhouse (Dakota's steakhouse) and it's not very good. There's one mom and pop diner that makes down home meat and potatoe dishes, but it's a far cry from gourmet or upscale. It's literally mashed potatoes and meat loaf. I've got a base of several hundred people that know how i cook and what i can cook that would be happy as can be to have an a decent alternative. as it is, to get a good fresh made meal, not from a franchise restaurant, you have to drive about an hour.
My food is somewhat gourmet, but i'm certainly not looking to open a gourmet restaurant. i just want to provide and alternative, and a very good one at that, to the people with discerning tastes.
The immediate plan is to open a lunch time bistro with some deli offerings (potatoe salad, cole slaw, mac n cheese, baked beans, etc) as side dishes. i do great panini type sandwiches (turkey, fresh roasted red pepper and goat cheese on fresh crusted bread for example). Grilled pesto, shrimp and chorizo flatbread for example. vodka sauce margherita flatbread for example. just a couple of examples, but hopefully you get the idea. i also plan to offer lunch time staples like pulled pork, brisket, hamburgers, various salads.
I also plan to do catering. i've done several small (less than 20 people) dinner parties with much success.
I also plan to do take home dinners for the working families that don't have time to cook but want a fresh cooked meal. I give them several options to choose from and they place an order, give an approximate time of pickup and then i have their food ready and waiting for them to take home, dish out, and eat. and if that takes off, once i have a customer base for that end of things, i could really do custom orders for anybody...they tell me what they want that week and i make it.
I'm gonna be talking to a loca buy who runs the downtown small business association this week. they actually can provide financing for people wanting to start a business in our downtown area...part of a revitalization. THis guy will walk me through the entire process of starting a business; building a business p;lan, looking for other financing, etc.
THe wife and i are kinda excited aobut the possibilities. people have been telling me for years i should open a restarant, and i'm kinda hoping that the timing will be right for me. THis kinda fits right into the whole economic state we're in...the fed wants banks to make loans and if i play my cards right and get all my ducks in a row, they should be eager to give a loan.
we'll see. we've been praying about it.
As for me, i'm unemployed. got terminated by the man for rather wishy washy reasons. but that's another story.
So for me, what have i got to lose?!?!
I'm looking to open a small bistro/deli/catering business with the positive plan of turning it into a full blown restaurant when the time is right. I live in a rural ohio county of about 35000 people. The only restaurants to speak of are about 15 pizza joints, a chinese buffet, every fast food option available to mankind, a hand full of greezy spoons that fry just about everything and a very low end franchise steakhouse (Dakota's steakhouse) and it's not very good. There's one mom and pop diner that makes down home meat and potatoe dishes, but it's a far cry from gourmet or upscale. It's literally mashed potatoes and meat loaf. I've got a base of several hundred people that know how i cook and what i can cook that would be happy as can be to have an a decent alternative. as it is, to get a good fresh made meal, not from a franchise restaurant, you have to drive about an hour.
My food is somewhat gourmet, but i'm certainly not looking to open a gourmet restaurant. i just want to provide and alternative, and a very good one at that, to the people with discerning tastes.
The immediate plan is to open a lunch time bistro with some deli offerings (potatoe salad, cole slaw, mac n cheese, baked beans, etc) as side dishes. i do great panini type sandwiches (turkey, fresh roasted red pepper and goat cheese on fresh crusted bread for example). Grilled pesto, shrimp and chorizo flatbread for example. vodka sauce margherita flatbread for example. just a couple of examples, but hopefully you get the idea. i also plan to offer lunch time staples like pulled pork, brisket, hamburgers, various salads.
I also plan to do catering. i've done several small (less than 20 people) dinner parties with much success.
I also plan to do take home dinners for the working families that don't have time to cook but want a fresh cooked meal. I give them several options to choose from and they place an order, give an approximate time of pickup and then i have their food ready and waiting for them to take home, dish out, and eat. and if that takes off, once i have a customer base for that end of things, i could really do custom orders for anybody...they tell me what they want that week and i make it.
I'm gonna be talking to a loca buy who runs the downtown small business association this week. they actually can provide financing for people wanting to start a business in our downtown area...part of a revitalization. THis guy will walk me through the entire process of starting a business; building a business p;lan, looking for other financing, etc.
THe wife and i are kinda excited aobut the possibilities. people have been telling me for years i should open a restarant, and i'm kinda hoping that the timing will be right for me. THis kinda fits right into the whole economic state we're in...the fed wants banks to make loans and if i play my cards right and get all my ducks in a row, they should be eager to give a loan.
we'll see. we've been praying about it.
sounds like a good plan, but you might want to check on the demographics of the area, average household incomes/owners vs renters. and so forth.
If its redneck country your in then may be that the greasy spoons survive and the bistro's may not.
also you may start all these services and find that only a few of them take off and end up being your bread and butter, anyhow, good luck and check demographics with the local yellow pages, that should be included in the business plan layout you get from the SBA
G'luck Boss
thanks for the well wished Thomas. as for demographics and rednecks, well, i guess yo umight say i'm a redneck at heart. as for the greezy spoons surviving and not the bistros, well, there's never been anything even close to a bistro in the area. and the demographics...i can't put numbers to it at this point, but i'm confident that there are enough blue collar people and above in the area to suppport my business. Note that i said bistro type food, not atmosphere. I know full well that a bistro type fu-fu atmosphere will keep many people out. I'm a pretty informal guy and i plan to keep the shop informal as well. Clean and tidy for sure, but laid back as well.
but again, thanks for the well wishes.
njstone - as for a catered herf, a couple of us have half heartedly talked aobut it, but it never materialized. I do throw a party in late summer once OSU football comes on. i believe you were invited to the last, but you were still very new here at that point. No doubt we'll be doing it again next year. i usually do a traditional full scale BBQ (pulled pork, beans, slaw, cornbread, etc.) I'm up/over in washington court house, just about due east of you i think.
but again, thanks for the well wishes.
njstone - as for a catered herf, a couple of us have half heartedly talked aobut it, but it never materialized. I do throw a party in late summer once OSU football comes on. i believe you were invited to the last, but you were still very new here at that point. No doubt we'll be doing it again next year. i usually do a traditional full scale BBQ (pulled pork, beans, slaw, cornbread, etc.) I'm up/over in washington court house, just about due east of you i think.
I don't know what it is you do, but if you are the ONLY one in a population of 35000 people, I would think your ahead of the game, sounds as if you are well connected AND there is a need for what you do... I say go for it..........
Soundwave13
BoM Feb 2010
Sounds great Gale, now I'm hungry...
We have a number of 'Bistro's' in Eastern PA. The 'fancy' places never seem to take hold. It's the places that keep it simple & have quality food & service. They love what they do & do it well.
I've really been shocked at how the Pinera franchise has taken off - a little different, primarily started as a bakery & moved into lunches & meals. The environment is stylish without being over-done & their menu offers some nice pairings - I alwasy grab an onion soupd & Chipotle chicken sandwich with a Jones Cream Soda. Mmmm..
Ok, Ok - give me a break, it's almost lunch time!!
HAhaha...
We have a number of 'Bistro's' in Eastern PA. The 'fancy' places never seem to take hold. It's the places that keep it simple & have quality food & service. They love what they do & do it well.
I've really been shocked at how the Pinera franchise has taken off - a little different, primarily started as a bakery & moved into lunches & meals. The environment is stylish without being over-done & their menu offers some nice pairings - I alwasy grab an onion soupd & Chipotle chicken sandwich with a Jones Cream Soda. Mmmm..
Ok, Ok - give me a break, it's almost lunch time!!
HAhaha...
yeah, i'm gonna offer some soups too. i make a pretty good french onion soup that gets better the longer it sits. right now it's on day 3 and i'm lovin it! make a damned good shrimp and andouille gumbo. also make a phenomenal tom yum kai, but i'm not sure how Thai soup will go over around here. i suppose i could change the name and just let them taste it, after that it'd be a hit.
the key to my cooking is that everything, EVERYTHING, is fresh. ok, i take that back, i used canned beans and occasionally canned stewed tomatoes.
the key to my cooking is that everything, EVERYTHING, is fresh. ok, i take that back, i used canned beans and occasionally canned stewed tomatoes.
Add a bordello in the back Gale. Its a great added cash flow... hehe
ok bill, i'm not gonna google bordello, but i'm guessin its the same as a brothel. i do remember the Crypt Keeper had the Bordello of Blood movie/show.
And if i had one of those, i wouldn't get a bit of cooking done!!!! i'd be sampling the goods and my waitress (my wife) would certainly quit on me!!!!
And if i had one of those, i wouldn't get a bit of cooking done!!!! i'd be sampling the goods and my waitress (my wife) would certainly quit on me!!!!
lol...but you would always have a positive cash flow!
Gale,
I'm getting hungry just reading this. I knew you did some cooking but didn't realize to this extent. It sounds like you've got a great idea if the locals there can support it and if you can find money to live on until you get going. I'd be your first customer if I were closer.
I'm getting hungry just reading this. I knew you did some cooking but didn't realize to this extent. It sounds like you've got a great idea if the locals there can support it and if you can find money to live on until you get going. I'd be your first customer if I were closer.
njstone
BoM January 2010
I think it sounds very promising, Gale. As to the redneck vs. Bistro issue... A "nice" place means something different to everyone. Although a French menus and violas might not work there, you can serve great food in a more laid-back atmousphere.
I don't know if you've ever been to a Bonefish, but my wife and I are very impressed with them. Truley excellent food, but at $15 instead of $30 (they could easily charge that based on the quality of the food). Also, the chef brings you the meal which I persnally like
I don't know if you've ever been to a Bonefish, but my wife and I are very impressed with them. Truley excellent food, but at $15 instead of $30 (they could easily charge that based on the quality of the food). Also, the chef brings you the meal which I persnally like
You're definitely on to something Gale and I suspect you will be successful with the right amount of elbow grease it sure sounds like a winner. You attack a niche for sure catering to the working families that are sick of feeding there kids shit from Micky D's! You need soup on your menu especially for your lunch fanatics soup and one of your awesome sounding sandwiches would be outstanding! Good Luck Bro!
