FORUMula1.com - F1 Forum

[sagi58]

It takes a lot to run your own business, be it money, time or energy.
Even if the rewards reaped can make it worthwhile to invest all those,
I would imagine the loss of family time isn't a trade off that's easy!!

[Jabberwocky]

SWMBO and I are partners in the business so it is easier on that account, however it means you can not leave work at work if you see what I mean.

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[sagi58]

And, you can say you're working late so you can go grab a beer with the guys!!

[Jabberwocky]

Or have to work away for a weekend and it has nothing to do with your mates stag weekend in Amsterdam.

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[sagi58]

(( ))

[geetface9]

The nice part about what I'm doing is I'm doing it all out of my own pocket so I'm not financially liable to anyone else

[Jabberwocky]

Plus it means less overheads when you have to start paying people back.

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[geetface9]

Plus it means less overheads when you have to start paying people back.

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Right now, I only owe one person $1k USD. I can handle that

[Jabberwocky]

I would imagine your wage bill would be a lot higher than mine. Are all yours going to be short term contractors?

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[geetface9]

Yeah the attorney I spoke with said just to pay everybody as independent contractors for now. Maybe once the company develops and we get some good revenues flowing in I can get some good talent contracted to my company for regular work but for now as I said I'll just have 'em fill out the independent contractor forms so I'm straight with the IRS

I'm also gonna be calling in every favor I can to get free work. Beg, borrow, and steal as they say! Tho I don't plan on doing any stealing cuz this enterprise already has it's own risks as it is!!!!

[Jabberwocky]

Remember PPE lol

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[geetface9]

Remember PPE lol

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don't you doubt!

[geetface9]

My LLC has been formed!! Now to turn in my tax form to the IRS and open a business checking account and...I'M IN BUSINESS!! (pun sort of intended, but not so much)

[Jabberwocky]

Remember The IRS is TheIRS

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[RyRy]

For me my education ended after secondary school, no further education but that doesn't mean I'm not smart or clever, my areas of expertise is all around technology.

I run a business with two of my brothers, I'm the techy one who does the majority of the coding. We popped up out of nowhere and were instantly doing better than our rival companies, the first version of our production was private, but we decided to go public and within 6~ months we rolled out version 3 which added a few new features, we've made a few other developments and even though some were BIG developments we've decided to keep it still as one version.

We're still working on the business and currently we're on "version 3" of our product, our 4th version is going to make version 3 look pathetic which makes our rivals look shocking. There is a high chance that we will go semi-private again because version 4 is going to be too good for the public. We've got a few ideas about if we go private and that will be producing a worse (but better than rival services) version that is FREE and we'll go down an affiliate route to get some extra money coming in while our main version is making money privately.