Conservative Political Forum

General Category => Financial => Topic started by: Dan on November 16, 2011, 08:37:41 AM

Title: Starting a new company is fun!
Post by: Dan on November 16, 2011, 08:37:41 AM
I almost forgot how much fun it was to work out the big jigsaw puzzle of starting a new company. Getting a resale certificate. Learning sales tax filing requirements and exemptions. Getting general liability insurance. Defining new positions. Setting up new vendors. Haggling over pricing. Working out the details of contracts for customers. Learning the pricing environment of my market and where to price. Figuring out how to do everything well and at the same time on a shoe string until the cashflow starts to come in. Pro formas. Setting up checking accounts and ordering checks. Yada yada yada.
 
This kind of stuff really is fun when you have a good business model and the right partners.  ;D
 
Too bad there aren't any lefties on this site to call me a greedy SOB who is taking their share of the pie by creating a new business, jobs, health insurance coverage and paying a load of taxes. Sales taxes (both state and local). Property taxes (both county and city). Occupational Licenses. A whole host of fees. State unemployment taxes. Federal unemployment taxes. The employer side of FICA. Federal income taxes. And state income taxes. And don't even get me started about all the extra coverage mandates on my health insurance where I am paying for things my people will never use in the name of leftwing redistributive justice.  ::)
Title: Re: Starting a new company is fun!
Post by: taxed on November 16, 2011, 09:02:32 AM
Awesome!
Title: Re: Starting a new company is fun!
Post by: Dan on November 16, 2011, 09:25:46 AM
Yeah buddy, you know what I'm talking about. Same stuff we talked about on the phone. Hoping to get the first facility up by late December and the second one a couple of weeks after that. Then it should take off really fast.
 
I've got my primary vendor lined up, pricing set, financing in place and we think we have hit one of those rare opportunities to cover a lot of ground really fast and more or less unopposed for the next 12+ months. Life is good.  ;D ;D ;D
Title: Re: Starting a new company is fun!
Post by: taxed on November 16, 2011, 09:40:53 AM
Yeah buddy, you know what I'm talking about. Same stuff we talked about on the phone. Hoping to get the first facility up by late December and the second one a couple of weeks after that. Then it should take off really fast.
 
I've got my primary vendor lined up, pricing set, financing in place and we think we have hit one of those rare opportunities to cover a lot of ground really fast and more or less unopposed for the next 12+ months. Life is good.  ;D ;D ;D


Execution, baby, execution!  I'm impressed at how you have everything lined up.
Title: Re: Starting a new company is fun!
Post by: Dan on November 16, 2011, 10:20:26 AM

Execution, baby, execution!  I'm impressed at how you have everything lined up.

My Dad always used to say "Plan your work and work your plan". Words to live by.
Title: Re: Starting a new company is fun!
Post by: taxed on November 16, 2011, 10:23:15 AM

My Dad always used to say "Plan your work and work your plan". Words to live by.


They are indeed...
Title: Re: Starting a new company is fun!
Post by: Solar on November 16, 2011, 11:49:25 AM
Ya know Dan, it really is fun, though I'm past where I have the bug to do it again, I've done it several times throughout my life and loved the thrill of it.
Its like the lottery, its full of hopes, dreams and promises, but the difference in the lottery and starting a new biz is, the lotto has the worst odds in the world, while a biz has a chance of 8 in 10 of succeeding, its just how far you want to take it.

Too many people get freaked out at the idea of all the work and the risk of failure.
But the reward out weighs the risk, because while you're pursuing your dream, you're living it and not being told how to do it.
You work around the clock, but its not like its a job, its your life, one you enjoy as if you were on a honeymoon with the woman of your dreams.
Big difference is, the biz won't get fat and bitch at you, if it does, tell it to  screw off and walk away and start anew....
Title: Re: Starting a new company is fun!
Post by: Dan on November 16, 2011, 12:39:28 PM
You are so right Solar. I'm not afraid of hard work. In fact, these things tend to consume my every waking moment more like a compulsion. lol
 
If I have one big hit, then I'm done too. But I gotta work and I would rather work for myself than someone else so there you go.
 
The odds of success aren't good for small businesses in general, but if you have a great partner and a great plan and solid financing then those odds get a little better.  ;)
Title: Re: Starting a new company is fun!
Post by: taxed on November 16, 2011, 01:24:36 PM
I'm with you and Solar.  It is fun, but I am about spent...
Title: Re: Starting a new company is fun!
Post by: Solar on November 16, 2011, 03:21:12 PM
You are so right Solar. I'm not afraid of hard work. In fact, these things tend to consume my every waking moment more like a compulsion. lol
 
If I have one big hit, then I'm done too. But I gotta work and I would rather work for myself than someone else so there you go.
 
The odds of success aren't good for small businesses in general, but if you have a great partner and a great plan and solid financing then those odds get a little better.  ;)
I guess what I meant by success was merely keeping your head above water till you can sell it at a profit and begin anew.
Being successful means many different things to so many different people, some want to be able to leave it with the manager and travel the world, others just want to make their bills and enjoy a little extra cash.
But for me, it was having the freedom, thats it, freedom and making ends meet, making payroll and knowing what I'm doing is the right thing and going to bed every night knowing I've never had to compromise my values.

I always did the right thing, even as a defense contractor, I never screwed the tax payer, but had every opportunity and would have been legal, but never sunk so low.
Title: Re: Starting a new company is fun!
Post by: Solar on November 16, 2011, 03:34:24 PM
I'm with you and Solar.  It is fun, but I am about spent...
Yeah, you need a break.
Take a couple of years off and relax.

Too many irons in the fire can really burn you out, try focusing on one, say...
Like the forum. ;) :)) j/k
Title: Re: Starting a new company is fun!
Post by: taxed on November 16, 2011, 03:48:40 PM
Yeah, you need a break.
Take a couple of years off and relax.

Too many irons in the fire can really burn you out, try focusing on one, say...
Like the forum. ;) :)) j/k


Totally.  I'm taking some time for the holidays, but I think 2012 is going to be hectic.  I'm thinking I will get my life back in 2013......
Title: Re: Starting a new company is fun!
Post by: Dan on November 16, 2011, 05:07:53 PM
Success is making enough that you don't have to work anymore unless you want.
Title: Re: Starting a new company is fun!
Post by: walkstall on November 16, 2011, 06:32:31 PM
Success is making enough that you don't have to work anymore unless you want.

Very well said young man. 
Title: Re: Starting a new company is fun!
Post by: Solar on November 16, 2011, 07:11:50 PM
Success is making enough that you don't have to work anymore unless you want.
Then I was successful, but I still see doing what you love as being a success, it doesn't always have to be monetary to be fulfilling or successful.
Title: Re: Starting a new company is fun!
Post by: Dan on November 17, 2011, 01:45:26 AM

Very well said young man. 

Thank you sir. And someday I hope to reach that point. Preferably sooner than later. Lol
Title: Re: Starting a new company is fun!
Post by: Dan on November 17, 2011, 01:51:31 AM
Then I was successful, but I still see doing what you love as being a success, it doesn't always have to be monetary to be fulfilling or successful.

My thought is that a bad day of playing beats a good dayat work. For me work is just something I do because I need money. Sure it can be fun in it's own way but it's still work. I can think of a thousand ways to have more fun than working. But since many of these things require money I gotta keep working. It's a vicious circle. :p
Title: Re: Starting a new company is fun!
Post by: Solar on November 17, 2011, 06:07:37 AM
My thought is that a bad day of playing beats a good dayat work. For me work is just something I do because I need money. Sure it can be fun in it's own way but it's still work. I can think of a thousand ways to have more fun than working. But since many of these things require money I gotta keep working. It's a vicious circle. :p
I should have just said, money doesn't buy happiness.
Being retired in my mid 40s gave me plenty of perspective, even though I was technically successful, I was bored to tears, and suddenly success sucked.
Point is, do what makes you happy, that is the biggest success of all and working can be one of the greatest rewards, that is, if you are enjoying what you do.
Title: Re: Starting a new company is fun!
Post by: walkstall on November 17, 2011, 08:24:45 AM
I should have just said, money doesn't buy happiness.
Being retired in my mid 40s gave me plenty of perspective, even though I was technically successful, I was bored to tears, and suddenly success sucked.
Point is, do what makes you happy, that is the biggest success of all and working can be one of the greatest rewards, that is, if you are enjoying what you do.

For 65 year I enjoyed what I did or I move on.  My last job I worked at for 36 years.   Now all I have is honey do this honey do that lists.   :))
Title: Re: Starting a new company is fun!
Post by: Solar on November 17, 2011, 09:24:30 AM

For 65 year I enjoyed what I did or I move on.  My last job I worked at for 36 years.   Now all I have is honey do this honey do that lists.   :))
Exactly, if you aren't happy doing what you're doing, then whats the use?
I knew a man when I was growing up that used to say many times "when I retire I will be so happy"
I asked him why was he so unhappy when I was about 9, he said he hated his job, hated even waking up everyday, because he knew it would be just another miserable day at work.
Told me to find a job I liked, not to make the same mistake he did.

Well he finally retired, and you know what?
He was still a miserable old man, he wasted the best years of his life, only to be too old to enjoy the last years.
That, or he was just a sour man that would never enjoy anything he did, I really don't know.
Oh and he worked for the post office. :))
Title: Re: Starting a new company is fun!
Post by: robmiller on November 28, 2011, 04:21:17 PM
Exactly, if you aren't happy doing what you're doing, then whats the use?
I knew a man when I was growing up that used to say many times "when I retire I will be so happy"
I asked him why was he so unhappy when I was about 9, he said he hated his job, hated even waking up everyday, because he knew it would be just another miserable day at work.
Told me to find a job I liked, not to make the same mistake he did.

Well he finally retired, and you know what?
He was still a miserable old man, he wasted the best years of his life, only to be too old to enjoy the last years.
That, or he was just a sour man that would never enjoy anything he did, I really don't know.
Oh and he worked for the post office. :))


I knew someone similar to that old man. 15 years ago he always complains for not making enough with his job. Today he still whines about his job even though he’s earning a lot. I think if you are not happy with small things you will not be happy with bigger ones.
Title: Re: Starting a new company is fun!
Post by: Solar on November 28, 2011, 05:10:24 PM

I knew someone similar to that old man. 15 years ago he always complains for not making enough with his job. Today he still whines about his job even though he’s earning a lot. I think if you are not happy with small things you will not be happy with bigger ones.
Exactly, some people are never happy with anything they do.
Then there are those that work a lousy job just for the benefits and retirement.

I grew up with a guy that used to be my best friend for 30 years that worked a lousy job at UPs.
He hated it with a passion, but wouldn't quit because it paid well and his retirement was good as well.

Then, one day it finally got to him, he had a breakdown and told me along with the rest of his friends to screw off.
I haven't spoken to him in more than 20 years, but heard from his brother that he retired and is currently miserable.

I have to guess it was the job that ruined him, we used to have a lot of fun hanging out, but he just changed one day.

I swear, it came as a shock to all of us that knew him since we were all around 7 years old.
He just said I don't want any friends anymore, and walked away.
Title: Re: Starting a new company is fun!
Post by: walkstall on November 28, 2011, 06:28:33 PM
Exactly, some people are never happy with anything they do.
Then there are those that work a lousy job just for the benefits and retirement.

I grew up with a guy that used to be my best friend for 30 years that worked a lousy job at UPs.
He hated it with a passion, but wouldn't quit because it paid well and his retirement was good as well.

Then, one day it finally got to him, he had a breakdown and told me along with the rest of his friends to screw off.
I haven't spoken to him in more than 20 years, but heard from his brother that he retired and is currently miserable.

I have to guess it was the job that ruined him, we used to have a lot of fun hanging out, but he just changed one day.

I swear, it came as a shock to all of us that knew him since we were all around 7 years old.
He just said I don't want any friends anymore, and walked away.

Sounds like he had more problems then just his job.   One must look within himself for the problem(s) not just the job if you walk away from your friends.  Just saying!!
Title: Re: Starting a new company is fun!
Post by: Solar on November 28, 2011, 06:47:45 PM

Sounds like he had more problems then just his job.   One must look within himself for the problem(s) not just the job if you walk away from your friends.  Just saying!!
Eighty percent of it was the job, but he was always the pessimist of the group.

I remember having a conversation with him in the early 60s, I said we are so lucky to be alive in the greatest Nation in history at this very moment, with telephones, TV , radio, freedoms and have the ability to be and do what we want with our lives.

His response shocked me, he went on with a litany of crap, mostly liberal, from the Nam war, to JFK being killed and unemployment, he saw only the bad things in life.

His parents were hardcore Dims, his dad was a big union guy that told him to get a union job and never let it go.
I think it was those words that stuck with him that set the stage for a miserable life.

Its funny, his brother was the complete opposite but wound up an alcoholic because he hated his union job as a butcher, he took up drinking as a way to cope, (self medicated).

Though Jimmy being a drunk bounced around for a long time, but heres the kicker, he is still living in the same room he lived in as a kid.
Dads dead and mom never kicked him out. But I still like the guy, even though he is pretty much worthless, and votes Dim. :-\
Title: Re: Starting a new company is fun!
Post by: walkstall on November 28, 2011, 07:11:17 PM
Eighty percent of it was the job, but he was always the pessimist of the group.

I remember having a conversation with him in the early 60s, I said we are so lucky to be alive in the greatest Nation in history at this very moment, with telephones, TV , radio, freedoms and have the ability to be and do what we want with our lives.

His response shocked me, he went on with a litany of crap, mostly liberal, from the Nam war, to JFK being killed and unemployment, he saw only the bad things in life.

His parents were hardcore Dims, his dad was a big union guy that told him to get a union job and never let it go.
I think it was those words that stuck with him that set the stage for a miserable life.

Its funny, his brother was the complete opposite but wound up an alcoholic because he hated his union job as a butcher, he took up drinking as a way to cope, (self medicated).

Though Jimmy being a drunk bounced around for a long time, but heres the kicker, he is still living in the same room he lived in as a kid.
Dads dead and mom never kicked him out. But I still like the guy, even though he is pretty much worthless, and votes Dim. :-\

 
As you know union job have destroyed more then one life. 
Title: Re: Starting a new company is fun!
Post by: Solar on November 28, 2011, 07:52:52 PM

 
As you know union job have destroyed more then one life. 
Its because of him and people like him that are libs, that have screwed up the country.
Their lives are so fucked up, that instead of working on their own issues, they want to change everything around them (what they refer to progressive).

Its all about wanting change, and damn the consequences.
Title: Re: Starting a new company is fun!
Post by: Dan on November 29, 2011, 04:03:00 AM
It's always easier to count other people's money than it is to make your own.
Title: Re: Starting a new company is fun!
Post by: walkstall on November 29, 2011, 08:39:02 AM
It's always easier to count other people's money than it is to make your own.

It's always easier to count spending other people's money than it is to make your own.
 
Fixed that for you Dan.  ;D
Title: Re: Starting a new company is fun!
Post by: Dan on November 29, 2011, 05:40:38 PM
Both are accurate. ;)
Title: Re: Starting a new company is fun!
Post by: walkstall on November 29, 2011, 07:10:34 PM

It's always easier to count spending other people's money than it is to make your own.
 
Fixed that for you Dan.  ;D

(http://www.freesmileys.org/smileys/smiley-whacky078.gif)  Your right !!   :))
Title: Re: Starting a new company is fun!
Post by: The Boo Man... on December 06, 2011, 07:39:28 PM
I almost forgot how much fun it was to work out the big jigsaw puzzle of starting a new company. Getting a resale certificate. Learning sales tax filing requirements and exemptions. Getting general liability insurance. Defining new positions. Setting up new vendors. Haggling over pricing. Working out the details of contracts for customers. Learning the pricing environment of my market and where to price. Figuring out how to do everything well and at the same time on a shoe string until the cashflow starts to come in. Pro formas. Setting up checking accounts and ordering checks. Yada yada yada.
 
This kind of stuff really is fun when you have a good business model and the right partners.  ;D
 
Too bad there aren't any lefties on this site to call me a greedy SOB who is taking their share of the pie by creating a new business, jobs, health insurance coverage and paying a load of taxes. Sales taxes (both state and local). Property taxes (both county and city). Occupational Licenses. A whole host of fees. State unemployment taxes. Federal unemployment taxes. The employer side of FICA. Federal income taxes. And state income taxes. And don't even get me started about all the extra coverage mandates on my health insurance where I am paying for things my people will never use in the name of leftwing redistributive justice.  ::)

I hate that sort of thing. I loved the marketing aspect. It's great going from concept to actual business but dealing with regs just pissed me off. No tolerance for it.
Title: Re: Starting a new company is fun!
Post by: Dan on December 12, 2011, 09:45:31 AM
The marketing is cool too. But I like looking at the entire picture. There are so many different ways to add value.  ;)
Title: Re: Starting a new company is fun!
Post by: BILLY Defiant on December 17, 2011, 05:54:31 PM
Where do you plan to incorporate your company, Delaware corps used to be the rage but a lot can be said for Nevada corps.
 
My Company was a Delaware Corp.
 
Billy
Title: Re: Starting a new company is fun!
Post by: Dan on December 20, 2011, 11:12:47 AM
Just incorporating in my home state of Louisiana. No biggie.
Title: Re: Starting a new company is fun!
Post by: taxed on December 20, 2011, 12:20:23 PM
I have been reflecting on how different it is nowadays when I started my first one  to nowadays.  Things have changed so much.
Title: Re: Starting a new company is fun!
Post by: Dan on December 21, 2011, 11:02:15 AM
It really helps you see what a cancerous parisite runaway government has become. You get to see the specific details with each license, fee and tax that the typical liberal does not give us credit for paying when they decide what is our fair share of taxes to pay.