Self employed how-to?

[Young gun 12]

For those of you on here that are self-employed, how did you get started? I have a couple of things I really want to do but dont have the funding to do so.

[Plain Lucky]

Find a good CPA. He or she can be one of your best resources for many of the tasks you face on the business side of things.

[KevBow]

You could find a silent partner that has money to get you going

[huntingjunkie]

If you need start up capital, or even if you don't, I would suggest laying out a 1/3/5 year business plan with an annual budget for each year. I've written many of these for startups and been part of a handful myself - and I still learn something new every time, but having the roadmap of your goals and how you plan to achieve them are key IMO. Review quarterly and make adjustments as needed. Nothing ever goes as planned so reviewing quarterly will be necessary. Assuming this will be your full time gig, create a personal budget and stick to a set salary year one. Every startup that I've seen fail has been due to mismanagement of funds early on by the one in control.

Hopefully this little bit of advice helps. Good luck in your venture.

[huntingjunkie]

You could find a silent partner that has money to get you going

This is true, however, very few are ever "silent" when their money is involved...and rightfully so. Some might play banker and just expect an aggressive return and others will expect to be equity partners. Both have pros and cons.

There is a million ways to skin this cat and so many factors involved to determine the best path to take.

[yaqui]

The hardest part is just deciding to do it. And work harder and smarter than your competition.