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      11-30-2012, 11:54 AM   #39
Mr Tonka
Tonka.... Mr. Tonka
 
Drives: Exceptionally well :)
Join Date: Feb 2009
Location: Tampa, FL

Posts: 1,183
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Quote:
Originally Posted by ENGINE er View Post
Mpower, I can hear the passion for your business in what you write. I don't know what you do but would love to do business with you!

OP, you sound young and full of vigor. Leverage it! Get out and start making mistakes while you have little to lose, and surround yourself with people much smarter and more successful than you are.
Thanks! I'm in the floor covering industry. We do mostly commercial work but also have a residential showroom. We do things like buildout renovations when companies renew or expand their lease space. We do some new construction work as well. Headed into new territory this week. We just bought a building to work out of. Now we can pay ourselves rent rather than someone else. (well, the bank for now....)
Quote:
Originally Posted by ipso_facto View Post
Is this the E-Myth book that you are referring to ?

E-myth Revisited: Why Most Small Businesses Don't Work and What to Do About It

http://www.amazon.co.uk/dp/088730728...30728010813279
yes.

Quote:
Originally Posted by kingofthedemo View Post
I own my own business (27 yo, male), and my father does as well. First of all, you should be aware that the vast majority of new, small businesses in the USA fail in their first year- or at best do not make a profit, or even break even. It is not easy, and job stability is not as secure as being an employee when the business is new. However, in my opinion, it' s the best thing possible if you can pull it off, especially if it's something you are interested in and personally enjoy. I know this is a bit short, and vague but you get the idea...
Most businesses show a loss the first couple of years. I showed a loss for the first 3 or 4 years. But i still paid myself. Those statistics about business failures and no profit years are true in spirit, but don't share the whole truth.
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"Government is the great fiction, through which everybody endeavors to live at the expense of everybody else." — Frédéric Bastiat
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