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    0 Replies Latest reply on Apr 24, 2009 8:15 AM by xeeker

    starting a new business

    xeeker Wayfarer
      Firstly, if you want a website, you don't have to pay for it, so watch out! I set up with a company called "Pricester" and website set-up is FREE. There were small charges, $10 for domain name, $10 for mailboxes, $17.95/mo for "hosting" charges $109 up front, total monthly charges $17.95. This is a far cry from the $1000 and $400 that I see quoted here......provided you want a website!

      I started my business on a shoestring, back in August. I do restaurant maintenance services and refrigeration gaskets. After I determined the "need" in the marketplace I started hiring people as "independent contractors" to do it in other counties (here in FL). I began by establishing a "cash flow" MYSELF! Once I started the income rolling in, my "independent contractors" began doing the same thing I did, establishing the "marketplace need" and then they began establishing a "cash flow", with me taking a piece of it, increasing my "cash flow".

      "Cash Flow" is the most critical part of a business. It is the base of ANY business and the principal is simple, YOU MUST TAKE IN MORE MONEY THAN YOU PUT OUT!!! I started by establishing an LLC, on-line, to keep expenses down, and I did it myself to avoid paying any fees to anyone else. You must have some sort of "legal comany" such as an LLC~ or Sub Chapter "S" corporation to establish a barrier between possible lawsuits and yourself, personally, as well as, if money problems occur, you can bankrupt the company without, possibly bankrupting yourself. Also, you must have appropriate liability insurance, just in case somebody breaks something valuable. In addition, you need to have some sort of legal business entity to start a business checking account and you must get county and local "occupational licenses".

      You begin by doing it yourself and you have your customers understand that you are not licensed or insured, but as such, you are less expensive. Then as you establish yourself as a real business and establish a cash flow, you become legal and raise your rates, gradually. When you cross the "barrier" of unlicensed "rogue" to legitimate business, you bring in "independent cotractors" (please look up the legal definitions of indepentent contractors to avoid falling into the trap of "workmans compensation" liabilities and legal obligations, such as payroll, witholding taxes and lawsuits) to help increase your cash flow as you cover them with your liability insurance and provide them with "leads" for their "business". You have to give something to get something. You must be "worth" your cut "$"!!

      This is how you do it.