Formed LLC, set up client meetings, reserved domain name and making website
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Poast new message in this thread
Date: March 1st, 2016 3:16 PM Author: Trip Potus
A quick update. I've been hustling, meeting with potential clients and thinking outside of my traditional business framework. I met someone who I couldn't do business with but who referred me to another potential client. I've now agreed to do business with him and will potentially get a nice payday lump sum and then passive income. This is so fucking 180. The feeling alone is worth the risk.
The main problem for me has been that I can't grow fast enough. Potential clients want to see a website, and want me have the infrastructure set up to handle potential deals. So 180.
(http://www.autoadmit.com/thread.php?thread_id=3143776&forum_id=2#29953155)
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Date: March 6th, 2016 4:55 PM Author: Trip Potus
Check in: Formed multiple clients and should bring in about 6k a month with like 15hrs of work each week. I am thinking about expanding into another real estate service that would net me some good lump sum $$ as well. I like this sweet spot though and I'm thinking about not expanding it too much right now just because I think this is a good balance.
However I am thinking about getting a fully remote shit job that pays like 20/30k and has benefits that I can do on the side. Would be 180 to get 401k and health insurance and just do some real easy work for 20hrs a week, like "technical writer" or some "marketing analyst" jerb I can do at home. Will apply tonight.
So far it's been 180 being out of the work force and my former colleagues are all proud of me and trying to help me out with the new business. So 180!
(http://www.autoadmit.com/thread.php?thread_id=3143776&forum_id=2#29995696) |
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Date: March 6th, 2016 5:11 PM Author: Ivory Gas Station
congrats bro. a word of advice, since this is the first time you're working for yourself: you are not making as much money as you think. what employees never see is that being a business owner requires use of capital from time to time. nearly all small businesses fail because of a lack of cashflow. there will be slumps, there will be necessary upfront costs from time to time, etc. there will be times when you need to come up with some cash. so, that's reason number one you aren't making as much as you think. reason number two is taxes. you may already have a handle on this, but you have more and varied taxes as a business owner than you do as an employee. reason number three is there are a lot of costs you are unlikely to anticipate. it's really hard to get a true baseline of operating costs until you've been in business for a year or two, even if you think you've thought of everything and have it on your pro forma P&L. you haven't.
so, build up some cash reserves. do not take out anywhere close to whatever you are calculating as your profit. trust me.
another rule of thumb: whatever you've projected as your cash needs for the first year, take that number and multiply by 3. that's how much cash you should have (or credit you can access) to be able to succeed.
hope this is helpful. it's 180 working for yourself.
edit: one other piece of advice, you're in for an emotional rollercoaster. i don't care how level headed you think you are. owning a business is a series of euphoric moments (you're having one now) and nights where you have trouble sleeping. it's exhilarating and emotionally exhausting at the same time.
(http://www.autoadmit.com/thread.php?thread_id=3143776&forum_id=2#29995796) |
Date: March 28th, 2016 11:17 AM Author: Trip Potus
It's been exactly one month. I haven't pushed forward with a marketing round because I am still in the process of getting certified (just a bullshit license I should get incase I get sued). I've closed one deal already worth about 3k, have 3 more in the pipeline all worth something similar. I could easily scale up and make 10k a month if I push hard and advertise. Considering the nonexistent overhead, it's a pretty 180 business if it works out. I think I need to stop being a pussy and do advertising while I'm waiting on the licensure. I'm also thinking of paying 5k to a creative digital agency to develop a 180 logo and brand shtick.
There are about 3-4 bigger shops doing exactly what I'm doing on a large scale. They charge more for the same service and are 6-12 person companies. I think there is definitely room for me to undercut them and make solid 6-figs without needing to take a large portion of the market from them. Just | Might | Make It
There is also good potential growth to get into RE sales, which could be what I pivot to long term. Although running the management company is not mutually exclusive to selling a few homes a year and making an extra 50k.
Today I am showing a property to a couple, the women is a "model." I googled her and saw a lot of nude, semi-nude pics. Hard to believe one month ago I was sitting at a desk all day taking orders from some effeminate dude!
(http://www.autoadmit.com/thread.php?thread_id=3143776&forum_id=2#30152240) |
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Date: January 22nd, 2017 12:49 PM Author: Trip Potus
i made about 4k in the space of 2 months... half assing it and putting in about 15 total hours of "work". never gave it a full go and didnt pursue marketing/business development the way i should have (didnt want to blow cash).
i took a 75k shitjerb and now im miserable. thinking about quitting and pursuing the business. i might try to become a realtor, meet people and network that way.. maybe make some $ and sell something and network my property management business in that way...
thoughts? what do you do? 75k is pretty solid
(http://www.autoadmit.com/thread.php?thread_id=3143776&forum_id=2#32431542) |
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