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Husky03
11-16-2004, 05:50 PM
Allright, I have asked a lot of questions on this site about getting liscensed and insured and paying taxes/charging taxes etc. I want to become legit for next spring. I always get round about answers and you guys say to call so and so. Well, I call the small business development center and after waiting for a week I finally got to talk to someone. She once again tells me it would be best for me to call a list of 50 other people to get my questions answered :realmad: She then tells me about this seminar on the 18th of this month. She says it will be very informative and it is for people starting a business. She tells me to attend this and my questions should be answered. She said there would be an attorney and an accountant and several others there to help. The seminar is 4.5 hours long and I am going to have to get out of school to go :cool2: Do you think I will find this helpful to answer ALL of my questions? I am afraid I will get there and just hear yada yada yada and not understand what they are saying and leave in the same position I am in now. I need informative answers to my broad questions because when it come right down to it I am clueless. So my question is do you think this will be of much help. Thank you and sorry for the ramblings :)

tx_angler
11-16-2004, 06:31 PM
Allright, I have asked a lot of questions on this site about getting liscensed and insured and paying taxes/charging taxes etc. I want to become legit for next spring. I always get round about answers and you guys say to call so and so. Well, I call the small business development center and after waiting for a week I finally got to talk to someone. She once again tells me it would be best for me to call a list of 50 other people to get my questions answered :realmad: She then tells me about this seminar on the 18th of this month. She says it will be very informative and it is for people starting a business. She tells me to attend this and my questions should be answered. She said there would be an attorney and an accountant and several others there to help. The seminar is 4.5 hours long and I am going to have to get out of school to go :cool2: Do you think I will find this helpful to answer ALL of my questions? I am afraid I will get there and just hear yada yada yada and not understand what they are saying and leave in the same position I am in now. I need informative answers to my broad questions because when it come right down to it I am clueless. So my question is do you think this will be of much help. Thank you and sorry for the ramblings :)


I see that you are 16 and I think it's very commendable that you are starting your own business and because of that I'm going to let you in on a little secret: You have to be able to learn from the experience of others - you won't live long enough to make all the mistakes yourself! If after attending the seminar you come away with more questions, you will have learned that there is always more to know. It's an evolving process and if you don't go to the seminar, you'll definitely be in the same position you are now, clueless.

Another option when going it alone is to contact your local Service Corp of Retired Executives (SCORE (http://www.score.org/)) office and ask them for assistance. They have counselors available and the service is free.

Good luck!

tonygreek
11-16-2004, 07:49 PM
i assume that this is an SBA seminar for new start-ups? if so, then go. you seem to want the info, albeit you are afraid it will be over your head or not applicable. drink some coffee and suffer through it becuase even if you find it doesn't apply to you, odds are it eventually will. and NO, everything you want to know will not be applicable to you. your choices are this freebie (or low-cost) seminar or paying someone to help you. not too hard a choice.

the other thing, as angler pointed out, contact your local SCORE office. hit their website and you can search out the retired guys in your field that you should talk to. great resource all the way around.

as for what you need to learn, it really isn't rocket science.

tony

Gautreaux's LNG
11-16-2004, 07:56 PM
Go to the Seminar! sometimes you have to listen to blah, blah but if you get ONE piece of good information that makes you a better business owner it's worth some blah, blah!

JimLewis
11-17-2004, 02:30 AM
I agree with the last post. It may be boring. But if you come away with just 2 or 3 key things you didn't know before, it will be well worth it.

Trust me, after being in business for 8 years, growing by 30% or more every year and running over a dozen employees, 4-5 crews, etc. I only WISH I had paid more attention in the beginning to business seminars, accountants, attorneys, etc. It's been a real challenge managing all of the growth and keeping everything profitable. LISTEN TO THESE GUYS! They aren't just blowing smoke. Your business will eventually implode if you don't have sound business principles that you are minding very strictly.

YardPro
11-17-2004, 05:59 AM
make sure it's not an amway scam, :)
being a good landscaper and a good business person are totally different things, so i would say yes definately go.

Husky03
11-17-2004, 04:04 PM
Thanks for the replies, I plan to attend tommorow. What is an amway scam? I will let you guys know how it goes and if I understood anything :p

Freshcut Lawn Care
11-17-2004, 04:15 PM
Hey Husky...

Good move...Go to the seminar!

You will get some valuable ideas from them. Learn and apply what you can and if something doesn't interest you (or is not required at this stage of your business), don't worry about it.

You will be glad you did; I am sure.

As previously stated, there is lots to learn for Novices and Veterans alike!

Let us know what you learned...we can always use more knowledge too!

:waving:

out4now
11-17-2004, 05:33 PM
I would suggest going, but don't if you'll miss anything important at school. Education is important. If there are any tests that day re-schudule ahead of time. What's an Amway scam? It's a pyramid sort of business with the key word of networking. They aren't going to target you yet because you're too young. Once you hit 18 they will pop-up. The idea is great in theory. It's a supply chain idea that creates a web of people reducing prices. The company has had a bad image in the past because of certain tactics. I haven't heard anything about them in a long time now. They used to be debt free and really into vitamins, cosmetics, and cleaning supply sales. Basically you're supposed to bring people in so you get to sell overpriced stuff cheaper. Most of the stuff can be easillly substitued at a Walmart for less. I was in it a long time ago, when I was 18 in fact and had no sense. Lost a few bucks but learned how to get shot down on pitches alot and how to try and get people to buy into an idea. Live and learn.

muddstopper
11-17-2004, 06:48 PM
Go to the seminar. Being prepared to be in business is just as important as the business itself. Even if you dont get the answers you are looking for, you might find that your asking the wrong questions. I dont know about the availability in your area, considering your age, but You should also consider taking some of the business courses at the local community college.

hole in one lco
11-17-2004, 06:56 PM
Ill give you the best info you will need ............
If you cant pay cash you cant afford it

Husky03
11-17-2004, 07:00 PM
hoel in one: good advice, I agree in most cases.

JimLewis
11-17-2004, 08:20 PM
What is an amway scam?

What you're describing doesn't at all sound like an Amway type of meeting.

It's difficult to explain Amway in fair terms. But I'll try. Having first hand knowledge being involved in Amway for 6 years or so, I have a lot of experience with them. But explaining it is difficult.

First of all, you won't ever go to an "Amway" meeting these days. Amway doesn't even have distributors in the United States any longer, only overseas. But there is a new company called "Quixtar" that is very similar. Quixtar sells Amway products. But they also sell hundreds of other company's products too.

Basically, whether you call it Amway or Quixtar or whatever, it's in a more general business classification we call "Multi-Level Marketing", abbreviated as MLM. Essentially, the way an MLM works is this; You become a distributor of a company that sells something. For simplicity, let's say they sell home cleaning products. As a distributor, your goal is to buy or sell $100 worth of these products each month. You can buy $100 all yourself, or you can buy $50 yourself and sell $50 to your friends and family, whatever. Doesn't matter. From this $100 in sales, you get a bonus (rebate) check for $10. THEN, your next goal is to recruit new distributors. Let's say you recruit 5 of your best friends and family. They become distributors too and their goal is to buy or sell at least $100 in products each month too. Now, your "group" is selling $600 in product each month. For this, you get a $10 bonus for your $100 and another $5 bonus for each of your friend's volume. So now, you're making $35 per month in income. Now let's say your friends find 5 friends to recruit. That's 25 MORE people in your "group". So now your group should be selling $3100 per month in volume. You get $10 for your $100, $5 for each of your friends, and $3 for each of the people they found. Now, you're making $110 per month. And it just keeps on going like that.

Some people (a very small percentage) make hundreds of thousands of dollars per year doing this. Some guys even make millions. And they hold meetings to recruit new distributors. That's what people mean by an "Amway meeting". It's a meeting where one of these guys who is making lots of money gets up on stage and gives a very exciting speech to intice you into joining.

The downside to this kind of business is that the vast majority are never successful and never make much money at it. The people who DO make good money argue that this is because the vast majority of people never really tried very hard to make it work. In my experience, that is true. Most people I knew when I was involved in Amway and Quixtar honestly didn't try very hard. They didn't treat it like a real business. They treated it like a side business. And so they never really made much money.

I have three customers who have been very successful in Amway/Quixtar. It's definitely not for everyone. I have my own problems with this business. But I don't think it's a totally invalid business. It definitely CAN work, if you work it. I just don't like some of the things that go on in the business. Plus, I am focused on building my landscaping business. You can't have full focus on two businesses. One will suffer. I chose Landscaping.

GrassBustersLawn
11-17-2004, 08:36 PM
If you live in Lafayette, you are close to a GREAT resource. PURDUE has different classes/seminars available. Go over there and get a brochure or go online. They have all sorts of meetings at the DANIELS TURF CENTER (by the golf course on campus).

Seminar you are talking about is setting up new businesses, which would be good information for you on the BUSINESS SIDE. You should also attend some of the many seminars (most of which are FREE) that will help you with GREEN INDUSTRY issues. GRAVELY ON TOUR was excellent last year. If they have it again this year, it is worth going to.

That being said, I don't know how much you can do with the "LEGAL ISSUES" of running a business SINCE YOU ARE ONLY 16. IN INDIANA any contract you sign is INVALID due to your age (under 18). Don't know how you can set up a "LEGAL BUSINESS" when you are not of LEGAL AGE!!! No insurance company is going to write a policy, GENERAL LIABILITY, WORK COMP, COMMERCIAL VEHICLE for a 16 year old!


Mike
Mike

Husky03
11-17-2004, 09:27 PM
I will go to this thing and see what they say, but like you said I do not know how I am going to become insured etc. If I put things under my parents name it will probably end up costing me way to much money to even continue. I can only do so much work and still keep up with school. I may have to go partial legit/partial scrub until I turn 18. I hate to say it. This does not mean I will underbid and do those types of things though. ;) :help:

Husky03
11-19-2004, 07:26 PM
Well, I went. They kept it very short and sweet and their was not a lot of time for questions but it was free and I got out of school so I cannot complain. I learned a couple of things about marketing and they gave everybody a very informative book aboutt starting a biz in IN. I also found out that insurance agents WILL sign with a 16 for commercial driving and liability it will just cost a ton. They told me it would be cheaper if I got my commercial driving under my parents name and just have them drive me. This is not really a very ideal way to do things though. We are just going to have to set up a time to go in and talk to my parents agent to see what he has to say. Like I say though, I feel they could have been much more helpful but they were all volunteers so there is not much to say. Just thought I would let you guys know. :)