I am quitting my job of seven years and opening my own business. I am sick of working for people no smarter than myself.

Any suggestions or advice from anyone.

Once you are established, buy him out and fire him.

make sure you buy some cool stuff with cash so its not on the asset list, if you get bought out.



mike

.com employee #7 2000-2001

Do it!!

Jump in head first!

You'll hate yourself for not trying!

Get a good accountant!! NOW!!

good luck man

What type of business? These are hard times for alot of people and most are out just looking to find work. I'd recommend doing alot of thinking and planning.

i am my own boss and the only hard part is trying to stay motivated.

I could never bring myself to fire myself...

form a plan.



what sort of business are you going to run? DOes it address your strengths and minimize your weaknesses?



Plan some more



Research. I own a retail store, 2 online stores, and a few other business interests. The key to them all was to find something people want and don't know where to get it or something they want at a lower price or higher service level than they're already getting.



Funding



Make sure you've got funds in reserve. Don't spend everything on opening the business, counting on sales to keep it afloat. The first 3 years is your make-it-or-break-it period, and you should have enough to cover both the business' and your personal expenses for 6 months.



THIS IS WHY some people are business owners and their staff thinks "what's so special about this twit? I could own my own business and do better". Chances are he or she had the coin to do it, whereas most of the staff doesn't AND doesn't realize all the owner's responsibilities (quarterly filing of tax collection receipts, payroll deductions and remittance, inventory controls, cross-border shipping and customs brokerage, etc. etc.)

i totally agree with mantis. there is alot of planning and investing that needs to addressed before you quit. a good way to make sure salls are coming in is to buy an existing company that way you have a customer base already. starting from scratch takes time and alot of money. becoming my own boss is the best and worst thing i have ever done in my life.