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    4 Replies Latest reply on Oct 6, 2008 2:45 AM by PremierPosts

    Small business installing real estate posts & Signs

    PremierPosts Newbie
      Looking for a little advice on continuing a small business and being successful at it.
      I have gotten high demand for my services in my metro area do to the high volume of homes getting put on the market. I lease the posts out for a six month term. I get half the money back once i lease the post and the second time i lease it then it has paid for it's self. After 5 months of doing this i am questioning myself if this is going to be successful or not. I am beating out my competition in this area which is why i am having a hard time keeping up financially. I started this business with a few thousand dollars and would hate to pull the plug now. Some advice would be so very much appreciated. I am young and this is my first bout at owning a small business.
        • Re: Small business installing real estate posts & Signs
          LUCKIEST Guide
          Small business installing real estate posts, Welcome

          It would be nice to know you, your first name and what state you are in.
          You can go to Members page and share some info.

          I question is DO YOU want to be doing THIS FOR ANOTHER 5 MONTHS or 3 years??

          Do you know about SCORE?? SCORE is FREE and can help you.

          LUCKIEST

          1 of 1 people found this helpful
          • Re: Small business installing real estate posts & Signs
            A_Ellicott Adventurer
            This part concerns me, "I am beating out my competition in this area which is why i am having a hard time keeping up financially." A common mistake of people just starting out in business is to think that because they have a lot of work that they must be making a lot of money. Doing a lot of work is not the same thing as making money.

            While undercutting the competition's price can be an effective way to quickly build market share, if not according to a carefully drafted plan it can also be a quick way to work yourselve into bankruptcy.

            To determine if your business can be sucessful you need a Pro Forma Income Statement. To see if you will be able to hold out financially until the business becomes profitable you need a Statement of Projected Cash Flow. If you don't know what these things are you have some learning to do. Contact SCORE and see if someone there could help you, or get some books on small business management, or see if perhaps your local college has a short course in small business management. Basically you need to take at look at where your business has been financially and determine from there how likely you think it is that it can suceed.

            This is the foundation of the Business Plan that you read so much about on this site. It may be that you will determine that with a little patience it can pay off. Or, you may determine that it's unlikely the business will ever be as profitable as you desire. Either way the key is getting the right information so that you can make an informed decision.

            If you should decide to "pull the plug" don't get discouraged. Most sucessful entrepenuers failed their first time. Learn and move on.
            1 of 1 people found this helpful
            • Re: Small business installing real estate posts & Signs
              PremierPosts Newbie
              Thankyou to the both of you... Certainly i have alot of follow up to do on whether to continuing with this company or not.
              To answer a couple of your questions... My name is Dan Hanna and my company is in Portland Oregon.