951Porschiste

</font><blockquote><font size="1" face="Verdana,Tahoma,Helvetica">quote:</font><hr /><font size="2" face="Verdana,Tahoma,Helvetica">Originally posted by sh944:
<strong>
I personally believe that your chances of success are much higher if you can team up with someone else that you can trust (the "two heads" theory). </strong></font><hr /></blockquote><font size="2" face="Verdana,Tahoma,Helvetica">I have a slightly different take on partnerships. I know people who have been partners for years...however, I think partnerships cannot last in the long run. Let me explain. A partnership is like a marriage. As long as the two partners share the same goals, then the partnership can last a long time. But there is a difference between a marriage and a business partnership. Business partners share financial objectives. Married couples share financial objectives and love. In a business when the financial objectives begin to differ, that's when the partnership begins to falter. In a marriage, hopefully love is present to help weather the tough times and enjoy the happy times.

A number of years ago, I had two partners. After a few years, one wanted to remain at the same level, the other one wanted to spend less hours working, and I wanted to expand the business in new directions. Even though we had originally shared a single common vision, we had reached a point where our individual objectives had diverged considerably. I simply left and pursued a new career.

Jamie944

It looks like we have quite a diversity in people and backgrounds for self employment. I know to reap rewards in life you have to take risks. I am one of those people who are dedicated and don't mind working alot of hours for something on my own. When I had the stereo shop my partner and I would be there several nights until 3 or 4 am then come back in a few hours and start all over again. We have a friend now at the shop we are all renting for space to work on our cars. He started a mowing business 3 years ago and now makes over 100k a year. I may look at some sort of service. My co-worker that could be my next partner is really wanting to start some sort of entertainment facility. Like an indoor theme park for the family. He is always saying people will pay to play before they pay the rent. Sad but true. Most people take care of their wants before their needs. I have another friend who has a carpet cleaning business and is making really good money at that, lots of comercial accounts. Just so many possibilities.

BartW

since not too many people have mentioned this I suggest we start compiling a list of things that you can do as your own business, I will start with some businesses that people I know have and are succesful with: a party tent rental place (he sets up party tents and tables and chairs for corporate picnics, family reunions, and the like, makes a killing with return customers since many events are annual also is off most of the winter time), real estate appraising (you have to check with your state because usually you have to do it under someone for a year before you get your license but after that on your own if you get in with one mortgage company you can do 3-6 appraisals a day at $250 a pop as long as you have an assistant doing the scheduling and taking orders), Mobile power washing (my friend has contracts with car lots and trucking companies, he gets like $1.50 a car on a lot that has 100 cars and it takes him about two hours, gets lots more for washing out trucks and trailers as well as campers, all you need is a pickup truck and some inexpensive equipment to start with) I have a few more examples if you are interested.

Jamie944

Bartw, those are some pretty good ideas and some I hadn't thought of. I have often thought of buying a carwash. I had a friend who's dad had three of them here in town and made a ton of money. What I need is someway to get the money to start a business. Has anyone here everseen the commercial with the guy who is going on about free government money? If someone could get a grant or something like that it would be really cool. Has anyone done this or know anyone who has tried to get a business loan and some of the details?

boostaholic

I've always wanted to open a chain of funeral homes. A bit grim, but you never have a shortage of customers.

boostaholic

I've always wanted to open a chain of funeral homes. A bit grim, but you never have a shortage of customers.

Peckster

It is a good business. People are dying to get into it.

Sorry.

I consult in the media relations and communications biz. It's a little tough to maintain cash flow sometimes, but the tax breaks are good if you have a buffer.

But you have to have a track record and some money in the bank to start your own business, that's for sure.

Legoland951

Brian the financial services arena is a good field depending on which area you get into. If you are thinking of being a Certified Financial Planner, there are courses you have to take and you have to be in the industry for 5 years prior to getting your credentials if I remember right. If you want to charge a fee for advice there is another way to do it. You will have to be securities licensed with a series 7 or 6, series 63, and a 65 for the financial advisor designation. I believe there is no substitute for financial knowledge when it comes to wanting to be wealthy. I have seen people receive proceeds from the lottery or large insurance settlements just to be broke and worse off then they were a couple years later. I currently hire and train new reps in the branch I am affiliated with and good, honest, caring people are hard to find. Its not that most people plan to retire broke or do not make enough money while they are working. Most people never get the information and knowledge to accumulate and keep wealth. I believe in order to be a millionaire, one must have the habits of a millionaire long before. This is not taught in school nowadays.

A comment about business partners. Hire/profit shard with a manager and don't have a partner unless you want to lose that person as a friend. I will never have a partner again unless they are a silent partner in a limited partnership. Also, don't fall in the trap of being a jack of all trades and master of none by being involved in too many businesses. Most people do well in business by doing ONE thing VERY well and later diversify into other businesses.