I started a company in my early twenties, merged it with another company, sold it for a nice profit, and now I'm about to start a new one. I can give you some pointers (limiting liability, tax considerations, etc.) and point you toward some resources...
Can you tell me what kind of business you have in mind? My answers would depend on your industry.
I work as a correction officer for the last 10 years took the job because I needed one real bad. I would really like to do something different. the economy is tough especially when you live far out. Even though I have done this work for a long time it’s not me. I actually do a good job. Some of the kids that get put in t
hat place just need some help. .
2 of my friend and I went into fort worth TX and went to the SBA to talk to a score counselor.
Instead of starting a security company (that is what we were thinking about)I would like to work with people like in sells or food service something were I felt like it was a good productive job needed and wanted , it may sound silly but I
it may sound silly but I am hoping that someone way up the ladder and has the ways and means can place me and train me for a job that I can grow into and be happy with no matter if it were 16 hour days and be able to start giving my family things they never had, like a new start , but advice is very important and it can be very valuable in starting a company. We were going to the SBA workshop in how to cerate a business plan but the time was wrong – to many bills to pay, if I were a single man I bet I could get things going but I never want to be that. My wife has always been a good Mom. When she was young she and her family followed the cotton her schooling was not much. But she has to be one of the best moms out there she is always there for them.
We are not perfect we are just like most everyone else. I have seen 1 family in a small town open a taco stand and a few years later they have a nice little place I think IF I were to start a company it would have to be like that a small place and add on more and more as it grew and did better. Car sells may be a good thing but were I live there is not a lot of traffic on a dirt road LOL. Any way I could use all of the ideas you can think of what to start and why and how’s I do not get offended when I am told that I am doing something wrong. I try to keep an open mind, so what do you think?? And thank you for responding
Sincerely. Charles
Hi Charles,
I wish you and your family all the best.
I don't know anything about your industry, and I don't want to steer you wrong, so I'm going to stay general. I understand that the timing may seem off, but there's no need to let go of your dream. Keep doing your research and preparation.
First off: keep an eye out for what may be deductible. (Certain job search expenses are deductible also.) Keep all receipts for expenses you incur while researching your business. Sort them by category not date. Keep up with mileage, too. Office supply stores sell booklets to keep in your car just for that purpose.
SCORE counselors are great. That's an important connection. So is the SBA. Look out for associations that might hold networking events or monthly lunches. Get to know the players in your area. You have to know your competition... and see if you can find a mentor or an ally.
