7
   

my cousin my uncle and me started a pc business!

 
 
OGIONIK
 
Reply Wed 14 Jan, 2009 12:22 am
anyways i have been planning it forever but they just started and asked if i wanted to join. pretty cool, but i think they are just using me for m extensive toolbags and electronic testing equipment LOL

as well as the manuals i have collected etc..


anyways what are some pitfalls to look out for in a tiny business?

we have no license, or tax forms or anything. we have no bills, we just show up and network offices and stuff, as well as building custom rigs and repairing them..
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Type: Discussion • Score: 7 • Views: 2,758 • Replies: 22
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dadpad
 
  1  
Reply Wed 14 Jan, 2009 03:49 am
when it all goes pear shaped who's gonna be left holding the baby?

Dont sign anything.

use it for the experience, learn what the pitfalls are to running a small business.
0 Replies
 
dlowan
 
  1  
Reply Wed 14 Jan, 2009 06:12 am
@OGIONIK,
Blimey.

Goood luck!
0 Replies
 
ebrown p
 
  1  
Reply Wed 14 Jan, 2009 07:29 am
@OGIONIK,
... assuming you are in the US (I have no knowledge anywhere else).

First, you should get some tax forms. Businesses (even small ones) are supposed to file earning quarterly (i.e. every three months or so). The IRS will fine you if they find you are making money without filing quarterly. If you plan on making money (which I assume is the plan) you might want to see if you can get a financial advisor. If you only need a couple of hours a month at first, you may find someone at a reasonable price.

Second, there are lots of places for help for small businesses. When I started my business, I took a class (it was a couple of hundred bucks). I also went to the Small Business Association which hooked me up with some volunteer advisors. It was free advice from someone who knew what they were talking about.

Third... I work in software, not hardware. But, I think that certification will go a long way to helping you convince potential customers you are worth their trust. As you make money, getting Windows certifications seems like a good investment.

Fourth, successful business is about building a large customer base of people who think you are great. You will depend on repeat customers and word of mouth. This means you should work very hard to make sure that each customer is impressed.


Good luck.
0 Replies
 
Green Witch
 
  1  
Reply Wed 14 Jan, 2009 08:08 am
@OGIONIK,
I can't believe no has asked for proof of insurance. If you screw something up you can be sued.
The IRS will find you when some business writes you a check and then puts you down on their taxes as business expense. The IRS can then do a cross check to make sure you are a legitimate business with your own tax number and business license. Small businesses are audited at a much higher rate than the big guys.
DrewDad
 
  1  
Reply Wed 14 Jan, 2009 09:47 am
Incorporate. It protects your personal assets from litigation.
0 Replies
 
OGIONIK
 
  1  
Reply Wed 14 Jan, 2009 09:49 am
@Green Witch,
yikes.

that sounds like a lot of money for licenses and insurance.

lookin into it.

:/
chai2
 
  1  
Reply Wed 14 Jan, 2009 09:54 am
@OGIONIK,
OGIONIK wrote:

we have no license, or tax forms or anything. we have no bills, we just show up and network offices and stuff, as well as building custom rigs and repairing them..


Do you already have business that want you to just show up?

If not, how are you going to go about getting them?
OGIONIK
 
  1  
Reply Wed 14 Jan, 2009 09:58 am
@chai2,
we had one tax office done, we just fixed their old network, now we have 5 more waiting for us to network their offices from the ground up.

Green Witch
 
  1  
Reply Wed 14 Jan, 2009 10:10 am
@OGIONIK,
Licenses are cheap. Insurance varies depending on what kind of business and how much damage you could do.
0 Replies
 
DrewDad
 
  1  
Reply Wed 14 Jan, 2009 11:47 am
@OGIONIK,
I'm sure all those tax offices will LOVE to do business with you if you get a conviction on your record....
Cycloptichorn
 
  1  
Reply Wed 14 Jan, 2009 12:00 pm
@OGIONIK,
OGIONIK wrote:

we had one tax office done, we just fixed their old network, now we have 5 more waiting for us to network their offices from the ground up.




These guys are all correct; get your legal stuff together as fast as you can. It can only help in the long run and they (licenses) don't cost a lot of money to get.

Cycloptichorn
0 Replies
 
rosborne979
 
  1  
Reply Wed 14 Jan, 2009 12:06 pm
@OGIONIK,
Running a business is tough. It's a lot trickier than just showing up and fixing things on the fly and getting paid under the table.

If you want to turn your activities into a business, the first thing I would recommend is doing a Business Plan. At the very least, you need to make sure (on paper) that the money you take in will exceed the money it costs you to run the business (there are lots of hidden costs). Then prepare to have your whole life become... "Early to bed, early to rise, work like hell and advertise".
George
 
  1  
Reply Wed 14 Jan, 2009 12:27 pm
@rosborne979,
Quote:
If you want to turn your activities into a business, the first thing I would recommend is doing a Business Plan.

I second that.
ebrown, you said you got help from the SBA. Did they offer coaching on putting
a business plan together?
rosborne979
 
  1  
Reply Wed 14 Jan, 2009 12:55 pm
@George,
George wrote:

Quote:
If you want to turn your activities into a business, the first thing I would recommend is doing a Business Plan.

I second that.
ebrown, you said you got help from the SBA. Did they offer coaching on putting a business plan together?

Here's another organization you can try. Their services are free: SCORE (Service Corps of Retired Executives). I've used these people before and they are very good.
http://www.score.org/index.html

They can help you develop a business plan and also give you some experienced advice on what you can expect when running a business.
0 Replies
 
OGIONIK
 
  1  
Reply Wed 14 Jan, 2009 11:37 pm
@DrewDad,
DrewDad wrote:

I'm sure all those tax offices will LOVE to do business with you if you get a conviction on your record....


drew sorry man i dont understand where conviction comes from

lol, i have some ideas but do u mean from not having a license?

Razz
OGIONIK
 
  1  
Reply Wed 14 Jan, 2009 11:39 pm
@OGIONIK,
thanks for the links, free is always good.

ive been working on a business plan for a while, but it doesnt involve my cousin and uncle, im more of an employee but ill help them make one.

we got business cards though HAHAHAHA

funny, they both think that they will make business will just explode!

yay! cards!
0 Replies
 
dadpad
 
  1  
Reply Thu 15 Jan, 2009 06:59 am
@OGIONIK,
conviction comes from doing illegal stuff like taking drugs or maybe robbing liquor stores.
0 Replies
 
DrewDad
 
  1  
Reply Thu 15 Jan, 2009 08:10 am
@OGIONIK,
OGIONIK wrote:

DrewDad wrote:

I'm sure all those tax offices will LOVE to do business with you if you get a conviction on your record....
drew sorry man i dont understand where conviction comes from

Nobody robs a liquor store believing he will be caught. But the security guard only has to be lucky once. You have to get away with it every time.
OGIONIK
 
  1  
Reply Thu 15 Jan, 2009 08:39 am
@DrewDad,
tell me about it!

thats exactly what i was thinking

theres a reason i stopped doing any kind of crime, all it takes is a few girls who want a bottle of liquor and i crack.

stupid sexual desires. i hate it.

Sad
 

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