First Business

[Diamond07]

For you entrepreneurs out there, what was your first business? Or what would you start if you could? I'm 23 and have some ideas about what I want to do but I want to hear others success and failures.

[klepdo]

My advise don't barrow any money.

[1369]

My advise don't barrow any money.

I wouldn't borrow any either.

[elkbowhunter]

without a doubt....
Open a real Franklins Texas BBQ place on Kauai---right on the beach in Poipu. You would be a millionaire in a year.

[gonehuntin68]

My first and only business is Sniper Hog Lights. We are going on our 7th year and each year has been better then the last. There is only one company that I know of that has been in business longer then us selling bow lights but there is rumors around that they are going out of business and I've noticed their website has been down for some time now so I believe it might be true. Also as far as I know I have been selling LED hunting lights that emit Red or Green light(no colored lenses) longer then anyone else, well at least ones that shine a long ways. I'm not sure what business you should start but I can tell I wouldn't get in this business because there are so many other companies doing it now that the market is basically flooded and I expect to see some more of the small companies drop off here in the next year or two. One thing I can tell you is if you want to have a successful business you better be prepared to work a lot longer then 40hrs a week. I haven't had a real vacation since I started my business. Good luck and I think it's great you are looking to start your own business.

Also as stated above, don't borrow money and it's the quickest way to dig yourself a hole you might not be able to get out of. To grow though you need to put almost every bit of money you make back into the business and this is what I've done.

[Brooks]

My first business was mowing yards. Hard work, good money and no loans!

[thatdude38]

working in the family business, we are one of the oldest web design companies in america (founded before google) and do web design. It's a much different business to get into now than when we did, but its still has the highest return on investment of any business type bar none as your technically selling nothing. I got into the company a couple years ago to help turn things around acting as the sales manager. If I were to start my own business, I would probably start getting into real estate as it is something that everything you do builds onto the future. Never been a fan of retail stores or restaurants or most retail places because every day is new and can quickly fail.

[Draco]

I started my first business when I was 13 years old. It was tying fishing jigs and I sold bunches of them. I tied around 12 dozen a week and would sell them all every week. I stayed with it until I went into the service. I've had a welding business now for 30+ years. I never borrowed any money.

[flywise]

Spray in bed liners..... Vortex liners to be specific.
I had to borrow money but it payed for itself in 2 years.
I sprayed a whole lot of wild land fire trucks.
I have realized I am a much better employee than business owner.
I am getting better now but back then I had idea how to plan for the future or manage the money. Best of luck to ya, being your own boss is great

[flatlander]

Check out wide format digital printing and/or a vinal plotter.

Signs, everywhere you look is a sign. Good profit margins, low overhead and start up and constant demand.

Worst mistake I ever made was selling all my equipment years ago when I was doing it part time from an extra bedroom and a garage. I took a promotion at work that I thought would be better.

I own a welding supply store now, bit that sign business will always be 'the one that got away'.

[txtrophy85]

I started my business when I was 20 as a painting contractor. really just fell into it as the company I was working for had some differences over the pay schedule ( they believed in paying people when they felt like it, instead of every Friday or Monday, and I was a manager). Quit my job, then panicked because I had no other plan. One of the owners of a competing business heard what happened and told me he needed a guy to stain some decks on the back of his spec. homes that he was building, I would get out of school and finish a deck before the sun went down, then would stain a few on the weekends. that grew into more business and eventually picked up several contracts for deck and fence companies doing their stain and paint work. was running crews out of the parking lot of the campus, eventually dropped out for good to concentrate on doing that full time

Long story short, I grew the business to where I was running 4 crews, staining several hundred decks and fences a year.

A few years later,I knew that being a paint contractor was not what I wanted to do for the rest of my life, so I tried to sell the business and being unsuccessful in selling I shut it down and got my real estate license.


Some advice I will offer you:

I was making some very good money as a 21 year old kid. I thought I was a smart and shrewd businessman at the time, in reality I was inexperienced and naïve. I made some dumb decisions on my part that cost me money. 95% of my mistakes were simply because of I didn't have the experience in business dealings in an owners capacity. My advice, whatever field your looking at going into, find a mentor who has been there, done that and can coach you on how to run a business. Take some basic business courses and learn the simple basics of being self employed. You cannot imagine how many grown adults cannot handle any kind of responsibility when it comes to running a business.

I can't say not to borrow money, I didn't, but that dosent mean I wouldn't if I had a sure fire idea. Some businesses are not going to grow or even get off the ground without a loan....plain and simple. Weigh out the calculations, have a realistic business plan and see how fast you can pay off the loan and get into the black.

Get in a business that produces a service, or is a necessity. Main reason is to make sure there is enough demand for you to make a living at it.

Do something you enjoy. I knew it was time for me to quit being a contractor when I started hating going into the office in the mornings. And I really enjoy working. This is a bad sign. Dealing with the general public comes with its own specific set of challenges, be sure your up to the challenge.

[30-30]

I guided hog hunts in high school. It was profitable, especially for a 17-year-old, granted I had free access to my parents' land and a bunkhouse (big expenses for which I'm very grateful!). I paid for the stands, feeders, corn, lights, meals, etc. I started out with a stand and a feeder and bought more as I guided more hunts. It was a good time but I got very little sleep on hunt weekends, as most of our hunters wanted to be on stand day and night. Most of the business came from out of state, which I didn't expect.

[Edward F]

HEB failed during their first years, now look at them. Fastest growing grocery retailer in the nation, and there only in Texas. Well Mexico also.

[jds247]

I started my own business at 24 . I grew up framing houses and pouring concrete with my dad. By the time I was 18 I could lay a house out, cut rafters, and do just about anything that needed to be done . I was working for a mold remediation company when I decided to go out on my own. I did everything for the mold company from bid jobs to rebuild the houses . I figured if I could do it for them I could do it for me . I started slow at first working by my self . I did a lot of work for realestate agents on houses they were trying to sell . At first I worked about 10 hours a week but made more than I did working d
For someone else . In about 2 years I went for just me to 25 employees . 2 concrete crews and a remodeling crew . My dad was able to quit his job and run the remodeling I
Side of business for me. That worked great until he got sick and had to have a lung transplant . After that I stopped the remodeling because it was to hectic running 3 crews . I realized about. 3 years ago I'm burnt out on being my own boss . We save money in the summer when work is great . And spend it in the winter when it's too wet to work . The economy is a roller coaster and business will fallow it . Material prices have doubled since I started and there are so many illegals pouring concrete for 100 bucks a day per man . I can't compete . I have a word of mouth client base but good work only allows you to raise your price so much before they go the cheap route . As of august 1 I'll be closing the doors . 13 years is long enough for me . I'll be more than happy to punch the clock for the rest of my life . It's really hard to grow a business with out capital . And I hit a point that I couldn't grow any further / do the big commercial jobs because I didn't have the capital . I never barrowed a dime . I started out renting tools and bought a lot of stuff at the pawn shop . Good luck with your endeavor .

[klepdo]

I wouldn't borrow any either.

Make sure you have someone spell check for you if you can't spell. Lol