Any Small Business People?

I'm just wondering if any of the members own their own small businesses or home businesses.

And if I may ask, what is it that you do? Do you like it?

Ive been interested in getting into something else lately and I'm just looking around at what others are doing.

2 actually.
I run a computer / network/ security buissness taking care of a few "mom and pop" type buissnesses.
I and my wife opened up a korean restaurant last month that is booming to the point we already are having to expand to add more tables.

Be careful and research whatever you get into. There are millions of scams out there and the laws (at least in the US) are changing quickly and drastically.

Web/Software development on this end. My primary "client" is my former employer, who I'd started off doing administrative/clerical work for and moved into developing web apps and software utilities for.

The primary things that have changed are that now I have to worry about my taxes on my own--and, at least in WA, you have to pay business (ie sales) taxes as well as income taxes--and I get to write my own schedule. That's the main thing that I love, is that I can sleep all day if I want, and then work all night. Or take two days off to kick back and then work 12 hour days for a week.

The main things I'd recommend are researching--especially taxes--and keeping everything as separate as possible. One thing I've seen kill a lot of small businesses is the owner looks at the revenue as their cash, free to take as they please. Keep it in a separate bank account; doesn't have to be a DBA account, just separate, and give yourself a "salary".

If you're planning on working from home, keep in mind that's going to make it a lot harder to relax at the end of the day and forget about the office. You can't physically get away from work in a home-based business, so you don't have the benefit of the "out-of-sight, out-of-mind" philosophy. If someone would've mentioned that to me beforehand, I would've given a little more thought to it. Still would've done it, but would've made better arrangements.

I'd also recommend setting up an additional bank account just for your taxes, setting aside the relevant portion of each bill immediately, and then forgetting about it until tax day. While it sucks to see a $100 check whittled down to $75 before you get any of it, it's much better than having to worry about shelling out $2K that you don't have because you figured "I'll just make up for it when the time comes."

What kind of business are you looking at getting into?

yeap I do it's my second bar. I call it the smallest gold mine in Hess Village, my place is called "The Side Bar"

external image

You can see more pictures on optimus fett's
thread My Dream Night club /bar /restraunt

I'm a designer/craftsman, blues bass player, flyfishing guide and outfitter and soon to be published author. My income is modest but I get to persue my passions. I tried teaching at the junior college level and soon found out, I don't deal well with authority figures. The wonderful thing about being selfemployed is that I can do it any where. Now I'm based in truely the "Land of Enchantment" New Mexico where the life style is unhurried, casual, and not yet Californicated.


Dulcimer, do it now!!

[edit on 13-10-2005 by whaaa]

My family owns a small farm so I know my way around the bookkeeping side of things etc.

I just want to do something of my own. The agriculture business basically sucks now. :shk:

I expected a few people to mention computer related fields. I have some training in that. A+, Network+, MCSE etc etc but I don't know if I would want to do anything small business with it. Its gotten me some jobs, but id still rather do something else.

I like music in any way shape or form, and it would be great if I could do something with music, but I cant find a market for anything that I have thought of. Especially in my area (small population).

I would like to start with a simple idea that is relatively cheap, and then work it into a larger business once it becomes profitable. I'm too young (and cheap) to start up a full fledged business like a shop etc.

Thanks for all the input so far everyone. Nice ideas.

I may go in depth with some of my ideas later. I have a few, and they are not all music related.

The kicker is that I am already part of my family farm, and if only it made some decent money, it would be great.

A big burden for me is what to do with it once my family decides to get out of the business. Sure it would be nice to sell and rake in the money, but the guilt is astonishing.

I cant see my family quitting just yet, but when they do, its going to be hectic for me, especially if I decided to start up my own thing.