
I'll try and be succinct. I'm a software engineer, own a home (which is worth more than I owe on it) and various other assets. However, I also have a fairly high cost of living at the moment and can really only float for a few months without my current income.However, I have wanted to start my own business for a while now (I'm 25). I keep coming up with ideas and finally had one that I think could be quite successful, but I'm a software guy, not a business guy.My main concerns are how to actually start? My current plan would require me to stop my current job and start working 10 hour days minimum to meet the requirements for the business to be successful. Should I just go for it?Beyond that, how do I get my business started, such as getting public interest/initial customers? I basically need a minimum of 11 customers to get going, and my subscription based product isn't exactly cheap (can't get to scale quickly enough to make the subscription less expensive, though it is still a pretty decent value proposition when compared to alternatives). I have ideas for expansion as well but that's obviously a way off.Additionally, I could probably afford to do this without a business loan, though my business would require a vehicle asset, which I'm not sure if I should have in my name or under the business (tax advantages?) And if it should be a loan or a lease. If I do end up needing an office and or employees or additional expenses I will probably need a business loan. Is it better to bite the bullet and get a loan now or wait until I've tapped out my personal funds, and should the vehicle be in my name or the business and a loan or a lease?Finally, any thoughts you have will be appreciated. Any activities or exercises I should do before proceeding? via /r/business http://ift.tt/2Fi6S8K
No comments:
Post a Comment