Starting a business. (2 Viewers)

[billygannon]

Just going to throw this out here

My brother is setting up an accountancy practice, so if you're looking for an accountant, I can put you in touch.

 

[herv]

my advice?

don't start a label.

 

[MDR]

http://www.oasis.gov.ie/employment/starting_a_business/starting_up_a_business_in_ireland.html?search=starting+a+business

Once again www.oasis.gov.ie to the rescue

 

[Shay HT]

1) Keep a record of everything you do!

2) Sort out Tax and CRO stuff before you do anything

3) Keep account of every cent you put into it

4) If you get to a point where you sell of parts of the company for investment stick with private investors if you can and away from VC's - they are good but will take all they can, leave them til you need big investment!

5) Don't give away parts of the company to people unless they totally and utterly prove themselves and are with you for the very very least 6 months

6) Get decent solicitors

7) Make sure if you have a board of directors, that after investment, that there is at least one of the founding members still on the board, but as many as you can negociate

8) Get rid of anyone that is useless early on!

 

[classic seanc]

Do you have any staff yet? Or what kind of a business is it?

I'm writing a business plan right now for college. A pain in the hole it is. thats why I'm up at 6.30 in the morning.

 

[IFF]

Do you have any staff yet? Or what kind of a business is it?

yes also lizzie, make sure you hire staff that now how to hang up the phone properly if they are leaving messages on phones (this has happened to me before. a company rang me looking for an itnerview when i was recharging my phone so they got my voicemail but after "hanging up" before leaving a message, the person didn't hang up properly and i got to hear the conversation inwhich the girl on the phone says how horrible my voice is and how it just creeps her out - one person once thought i was an italian, others think polish)

I'm writing a business plan right now for college. A pain in the hole it is. thats why I'm up at 6.30 in the morning.

good luck with that. we did a group business plan in my course last year and it was stressful and tough.

i also helped some entrepeneurship masters with their business plan last april/may which was last stressful because how they did didn't affect me one bit (but they did do fine)

 

[egg_]

Lizzie - don't hire staff, take on equals as partners in the business. Once you employ someone their interests become the opposite of yours (you need them to do as much as possible for as little as possible, they want to get as much as possible for as little effort as possible)

 

[classic seanc]

yes also lizzie, make sure you hire staff that now how to hang up the phone properly if they are leaving messages on phones (this has happened to me before. a company rang me looking for an itnerview when i was recharging my phone so they got my voicemail but after "hanging up" before leaving a message, the person didn't hang up properly and i got to hear the conversation inwhich the girl on the phone says how horrible my voice is and how it just creeps her out - one person once thought i was an italian, others think polish)



good luck with that. we did a group business plan in my course last year and it was stressful and tough.

i also helped some entrepeneurship masters with their business plan last april/may which was last stressful because how they did didn't affect me one bit (but they did do fine)

Cheers for that. Handed it in today. 30 pages of projected accounts that someone else did. I just discovered today that they're all wrong. Bummer. Still got a presentation to do.


If you hire staff, just make sure your honest with them from the get go. Handiest thing to do (if you wanna be an asshole) is keep em on a contract. Its much easier to let them go, and they know that so they might be less inclined to fuck you around.

 

[billygannon]

Outsource everything to India. And I mean everything.

 

[nlgbbbblth]

yes also lizzie, make sure you hire staff that now how to hang up the phone properly if they are leaving messages on phones (this has happened to me before. a company rang me looking for an itnerview when i was recharging my phone so they got my voicemail but after "hanging up" before leaving a message, the person didn't hang up properly and i got to hear the conversation inwhich the girl on the phone says how horrible my voice is and how it just creeps her out - one person once thought i was an italian, others think polish)

Did you confront them about it?

 

[IFF]

Did you confront them about it?

no. i felt confronting them would be pointless. it would have got me nowhere and would have proven to be a waste of time

what would it have achieved?

i know it's a very defeatist attitude

 

[nlgbbbblth]

no. i felt confronting them would be pointless. it would have got me nowhere and would have proven to be a waste of time

what would it have achieved?

i know it's a very defeatist attitude

Presume you never got to work with them?

Confronting them about it would have fucked up their day and maybe made them feel embarrassed.

 

[classic seanc]

So what's happened here in the last 6 months?

 

[c0De_n1NjA]

so, did latex lizzie ever start up this business or wha?

 

[Latex lizzie]

sortof.

things are in hand as t'were

 

[whathappen?]

I am looking into starting my own business too. From my research, an online shop can be done in your "spare time" at the start.I am going to be selling a very specific product so at first I will set myself up as a seller on ebay and amazon.co.uk /.com/.ca. This allows you to get to know the ropes as it were and eventually build up a client base that you can take with you if you create your own site.
Do your research and do it again and again. Know your client,know your product and if you are setting up a physical shop then know the location its footfall its busiest shops and surrounding businesses. Ideally locate yourself near an associated business eg. if you are setting up a shoe shop try to get a location near a ladies fashion shop or a hair salon ( i read somewhere that ladies like to get their hair done and then will go window shopping !).
With reagard to your taxes and accounting try not to use anyone you know personally or are related to.This will make any difficult decisions you may have to make easier.Trust me on that one.

 

[VARUKA]

its very hard and risky to open any bussiness at all in ireland unless you have a very long and handsome financial history but good luck anyway.

 

[Johnnyc]

I'm looking to start up my own thing too. I'm a graphic designer mainly and have a regular supply of work coming in, so want to go completely legit. The thing I need advice on though, is what would be the best option for someone like myself - Sole Trader or Company?

 

[george mcfly]

starting the business

 

[Johnnyc]

Will do, chief!