Any small business owners out there?

Westtown Willy

TJ dummy
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My hat is off to you, it can be rough sledding getting one off the ground. I’ve been in business for many years (small solo law practice), recently joined some old friends & launched a new office in a new jurisdiction. The gubmint sure doesn’t make things easy but it’s still worthwhile, sure beats the alternative.
 
Breaking into new markets is tough. I started my company (aviation maintenance consulting) 5years ago. I bought my families ad specialties business 2 years ago. Trying to balance it all can be tough. A great CPA and lawyer are life savers as you know. 🍻
 
I deal with owner/operators in the commercial vehicle industry and I don’t know how they make it. Between the insurance, maintenance, fuel and taxes it’s crazy.


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Breaking into new markets is tough. I started my company (aviation maintenance consulting) 5years ago. I bought my families ad specialties business 2 years ago. Trying to balance it all can be tough. A great CPA and lawyer are life savers as you know. 🍻
The ad specialties is not such an easy business anymore...like everything else the internet has driven profits way down.
 
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The ad specialties is not such an easy business anymore...like everything else the internet has driven profits way down.
You are right. My parents made a good living doing it, but the inet hit them hard and they didn't adjust to the new market. That's what I am doing. Starting to see new client growth from across the country, but its taken a lot of meta data adjustments and staying up on the SEO to make headway. A real learning experience and lots of money to IT people.
 
I owned and operated an ad specialties biz in 2002 to 2004. Did my own printing. Had some good accounts...and bad accounts. Spent $$$ on a website. In the end, the lack of customer loyalty did me in. I'd do a great job for a big client, receiving lots of praise, but next time 'round, a nickle less from a competitor and I lost the job. I did restructure a bit to do work for my competitors, which helped. Ended up doing jobs where I was under-bid, then getting the job from the guy who won the bid...because I could turn things around super fast. Sold the biz to a competitor...equipment and all.
 
I deal with owner/operators in the commercial vehicle industry and I don’t know how they make it. Between the insurance, maintenance, fuel and taxes it’s crazy.


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As a partner in a small construction company I couldn’t agree more. We transport explosives and the DOT is by far the most strangling agency I deal with. The BATF, PHMSA, DORA, any day of the week! The DOT has so many regulations we have to hire a third party consultant to keep up.

Joe Schmo can haul any POS down the public highway and no one cares. A business has a bent locking gate on a safety chain and they’re going to put your nuts in a vise. I want to believe most try todo the right thing but typically that doesn’t matter. As a small business just a couple out of services and they will be knocking on your door.
 
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I owned and operated an ad specialties biz in 2002 to 2004. Did my own printing. Had some good accounts...and bad accounts. Spent $$$ on a website. In the end, the lack of customer loyalty did me in. I'd do a great job for a big client, receiving lots of praise, but next time 'round, a nickle less from a competitor and I lost the job. I did restructure a bit to do work for my competitors, which helped. Ended up doing jobs where I was under-bid, then getting the job from the guy who won the bid...because I could turn things around super fast. Sold the biz to a competitor...equipment and all.
It is the most cut throat business I have ever had the opportunity to be involved with. It’s been in business since the 60s and inc in the 80s. What people will do to save a nickel is crazy.
 
Yep have a 25 year client now that has to shop all over the internet and tries to make me match every offer including the initial discount teaser on every order.

The only worse business I can think of is having an independant used car lot. My friend owns one for a long time and places like carmax, cavana etc are driving up the prices by bidding everything in the auctions way up. They must have a bunch of IPO money to spend.
 
Lol. I have clients who do the same. I ask who their acct mgr is for the inet company and ask about personalized service. That will typically stop the conversation. Web based business is hard to compete with.
 
New to small business. Recently bought a coffee shop in a small downtown business area. It's doing well enough that I'll be leaving my full time job to sell coffee for a living. Excited to be my own boss, stressed out over being my own boss.
Good for you! The stress is there, but its a different stress and a different level. If you are open to any advise, here is some I found that keeps me focused. Too many small business owners worry too much about the bottom line. Its important to watch and be mindful. Worry about your customer base and they will take care of your bottom line.
 
Good for you! The stress is there, but its a different stress and a different level. If you are open to any advise, here is some I found that keeps me focused. Too many small business owners worry too much about the bottom line. Its important to watch and be mindful. Worry about your customer base and they will take care of your bottom line.
The person I bought it from stressed that more than anything else. He has built two successful coffee shops based on customer service and serving high quality products. We are focused on keep the product quality and customer service high and expanding marketing. He did no marketing and used social media once when he opened two years ago. We have already had local businesses ask what marketing group we are using. I think I'm going to start hiring my wife out to do social media marketing. More Jeep money for me.
 
The person I bought it from stressed that more than anything else. He has built two successful coffee shops based on customer service and serving high quality products. We are focused on keep the product quality and customer service high and expanding marketing. He did no marketing and used social media once when he opened two years ago. We have already had local businesses ask what marketing group we are using. I think I'm going to start hiring my wife out to do social media marketing. More Jeep money for me.
I have been in a small business for 20 years and I have a lot to say about it.

people that work regular jobs for big companies have no idea what we go through to survive and that doesn't make them bad it is just the way it is.

starting a business and getting that business off the ground and capitalized takes a tremendous amount of hard work ,energy creativity and resilience.

If you want to feel the impact of your own decisions... Start a business.
 
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Yea, it definitely takes some cojones to start your own business. I've never liked instability with my income, so I've always aimed straight for reliable employment at big companies. And I imagine tax season is a royal pain in the ass too.
 
my wife works for a big company and whenever she gets into a conversation with someone and they say "oh your husband has is own business, that is great" She just bites her tongue.
 
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Started my Voice/Data communications business back in 1989. Been retired since 2013/14.

Consciously kept it small and simple, zero advertising just word of mouth. Absolutely loved my work, some of my favorite times (Little stressful @ times) were re organizing computer rooms. I'd start them Friday after 5 than have everything up and running come Monday morning. Weeks leading up to this all new wire installed, some cases running parallel with old system. Old systems were Unix type using rs232 cabling and voice/pbx were also switching from analog to digital.

In the beginning material costs were easily covered by maxing out credit cards, as projects increasingly grew in complexity (New construction mostly) I viewed money as not being real, so by 91 I started working with a cpa, still my cpa today. Best decision ever. After a few years in business he saved my ass...Not having a resale tax number, apparently buying something for X amount + tax then obscenely marking up X and charging tax on that amount was wrong.

Never broke the million mark for a single year, other then a mortgage, vehicle loan and using credit cards, I never borrowed to stay afloat.
 
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I had a PI Firm with Fortune 500 clients. When it was small I did well. But once we got successful it attracted the attention of multinational conglomerates. Who crushed us out of the business with their high level corporate ties. If your a B2B on that level it's hard. People don't know the level of balls it takes to do that. But I'd have it no other way.

I own a small gun parts/tools business now. And it's a tough road too. Not for the faint of heart.

Looking into new ventures now. It's either that or get a job. Which entrepreneurs will understand is still harder for us than starting a business. Working for someone else's dreams is soul crushing. And not being able to do things the way you know will be successful is hard. Having someone with half your drive and intelligence telling you what to do is soul crushing. I can't describe it in any other way. I traditionally don't do well in employee environments. But give me a business challenge and I'm awake at 4am working on it until way into the night. And I love it. Just different types of people that crave different things. I get the other side too. There is something to be said for stability. But if you've never had it. The alternative seems way more attractive.
 
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I had my own PI business in the 90s. Now I have a small residential and commercial pool business with some very loyal customers.
It won't make me rich but i run it the way I want and a lil bonus is I use both my Tjs on my pool routes.
 
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I had my own PI business in the 90s. Now I have a small residential and commercial pool business with some very loyal customers.
It won't make me rich but i run it the way I want and a lil bonus is I use both my Tjs on my pool routes.
Nice . It’s cool to find something you enjoy and doesn’t drive you insane.
 
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