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Discussion in 'Business Operations' started by vharman4, Oct 29, 2009.
Why do I here its double, 10 costs you 20 and so on?
your right dude... i'm 18 years old and quite frankly i dont care if i'm "legit" or not at this stage in the game.. i'm just a college kid out making some $$.. if you dont like the question or it "rubs you the wrong way," DONT ANSWER IT
Then I hope you shoot a rock out of your mower and hit someone and get sued to the point where you can't even go to school because you lost so much money. If you're going to play with the big boys, play fair.
People that young don't think of that kind of stuff......
Kinda like the 18 year old on here still living with mom and dad and looking for a 50k Benz or BMW.........
Nor do they really think it will happen to them......... just have to let people learn the hard way and let them be.
Not to go completely off subject but I'm in somewhat the same boat as you are. You should decide what is more important first, college or your business. Because I can tell you from experience, you will not have enough time to effectively run your business full time and go full time to college, even if you have employees. I decided my business was more important and my grades suffered horribly.
My solution was to go to school 1/2 time and take night and online classes so you don't have to decide between work and school. As for the business I set it up as an LLC and have the guys that work with me get part of the shares. That way, they become part business owners rather than employees so you can avoid workers comp etc. etc. It's a more informal way to do it but if money is tight that could be your way to go. I'm not saying give them half the shares so they're in charge just as much as you are, but give them a little slice of the business.
You definitely do not want to just hire a 5 man crew to go out and do the work while your going to class. Not to burst your bubble, but I can almost gaurantee you won't be making the amount of money needed to pay a crew of workers while your trying to buy more equipment, pay for school etc. etc. etc. Grow with your business, and when the time comes, start with one employee or two and go from there. Make sure you work side by side with your employees until you trust them enough to go out and do the work themselves the way you want. I'm not claiming to be an expert but that's what works with my business.
I just want to throw in my 2 cents here:
RESEARCH THOROUGHLY BEFORE YOU DO ANYTHING because there are TONS of laws and rules that you wouldnt even imagine that come into play when you are going to hire on employees. There are so many ways for you to completely LOSE YOUR A$$ OFF when dealing with Employee Laws, and State Tax Laws, and Payroll Laws, and Insurance Laws, and Workers Comp Laws, Salary, Hourly, Vacation Time, Mandatory Breaks, etc, etc, etc, etc, etc.
If you dont know exactly what you're getting into, one day you will get audited or sued and your entire empire will be GONE faster than you can blink your eye.
I suggest talking to some agents and lawyers who know all about this industry in your state.
wow, start with some business classes in college. by the hour they will not rush through but may be slow. by the lawn and they may not do a thorough job but will give incentive to work efficient. i pay by the hour with US dollars. call or get an accountant. they can help do alot of the BS required to hire and pay taxes on employees. you'll also need workmans comp insurance so call an insurance agent too
i think a great number on this site started this way, cut the guy some slack. at 18 he is just a kid. good for him for working his butt off. it hurts but its part of our business and it will never go away. deal with it