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#1
Old 09-19-2014, 12:18 AM
fallen_ego
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Default For those of you who started, i need some tips!

I'm starting my own business with my friend. Kinda scary since I've never tried running my own business before. Do you guys have any advice on a newbie who is starting his own business? Any helpful tips?
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#2
Old 09-19-2014, 12:37 AM
I Hate Thugs!
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What type of business?
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#3
Old 09-19-2014, 12:42 AM
fallen_ego
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Originally Posted by I Hate Thugs! View Post
What type of business?
We are manufacturing a product that enhances your smoking experience. It's for bongs and pipes as well as hooka. It pretty much does a lot of things that it enhances your smoking experience. I don't wanna go into details because we are developing the prototype but our early ones have gotten great reviews by avid smokers.
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#4
Old 09-19-2014, 12:49 AM
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Originally Posted by fallen_ego View Post
I'm starting my own business with my friend. Kinda scary since I've never tried running my own business before. Do you guys have any advice on a newbie who is starting his own business? Any helpful tips?
Generally the first couple years are the most crucial. There will be up's and down's, times where the business does good and times where it doesn't. Saving during the good times will get you through the slow times. Mainly because during the slow times bills will still need to be paid and just as important, taxes will also. Balancing the books is important and keep all expense receipts.

Good luck with it.
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#5
Old 09-19-2014, 12:52 AM
fallen_ego
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Originally Posted by TBear View Post
Generally the first couple years are the most crucial. There will be up's and down's, times where the business does good and times where it doesn't. Saving during the good times will get you through the slow times. Mainly because during the slow times bills will still need to be paid and just as important, taxes will also. Balancing the books is important and keep all expense receipts.

Good luck with it.
Solid advice. Thanks dude.
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#6
Old 09-19-2014, 01:07 AM
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Start posting in the weed thread
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#7
Old 09-19-2014, 01:08 AM
THE REED™
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Yeah don't ever go into business with a 50% ownership.
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#8
Old 09-19-2014, 01:12 AM
fallen_ego
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Yeah don't ever go into business with a 50% ownership.
Why is that sir? If it's a private matter please pm the details if you'd like to share them.
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#9
Old 09-19-2014, 01:13 AM
fallen_ego
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Start posting in the weed thread
lol well once my product is past the development stage I'll post it in there.
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#10
Old 09-19-2014, 01:18 AM
THE REED™
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Why is that sir? If it's a private matter please pm the details if you'd like to share them.
Pretty regular thing to avoid.

Google it, if you really don't know.

It WILL be a problem. Maybe not now, maybe not in 3 years. But one day... you'll understand why.

Be 51% owner and in charge, or be a minority share holder and an investor.

Just my opinion... but 50/50 will cause more problems than anything.
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