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Author Topic: what would be best for preparing for my own business?  (Read 314 times)
TMBghostX
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« on: December 07, 2008, 04:27:43 PM »

Which one of the two paths do you think would be better for preparing for starting a business

1# I would get a job that pays a wage of $8.00 an hour and save my money for my small business.

I live with my dad so i don't have to worry about paying bills and he has plenty of cars i can drive and food and etc.

So anyway I would work 5 day a week bringing home $64 dollars a day, making $320.00 , bringing home $1280.00 a month. I would spend  the $280 and save the $1000 into my saving account. I f i keep saving up money ( and my goal is to save money up for 4 years) , i would have $12,000.00 a year adding up to  $48,000,00 in 4 years.

While i'm saving up money i would get a credit card so i can get a good credit score ( if you have a good credit score , it will increase your chances of getting business loan and investor etc). I would start small and buy a few outfits with the credit card and some food i think for about 6 months. Then i would get a car ( I know i said my dad has alot of cars, like 6 cars but i really need to buy something big with the credit card in order to build up my score) and pay it off , doing this for a year of paying the car bill should build up my credit score if i pay on time)

somewhere in the 4 years of saving money and building up credit score. I will think and create new ideas for my business and creating a effective business plan.when my 4 years are up i will start on my business.

thats the first plan i have , now here is the second one.

2# I would join the military ( navy or air force) and use the benefits to my advantage.

I don't have to worry about housing and etc if i live on base, I would save up my money has was described up top of the first plan and do the same thing i stated above with building up my credit score.

I would use the benefits and opportunities to go into college and get the extra pay and stuff. i could use the college benefits to learn managment or business to help me not only do well in business but to also  increase my chances of getting a  business loan and bank loan etc etc( 48,000 dollars saved up + good credit score+ business degree or whatever kind it is = bigger loan and better chances).

In the military the will teach you how to be a leader and such and such.


So what do you think ?

Do you like 1# or 2#?

tell me what would you do differently .?


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kemperk
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« Reply #1 on: December 07, 2008, 05:40:27 PM »

neither approach;  the military teaches you how to kill.  NOT good and
not bad but definitely not how to be a leader. OCS may teach that.

go to the library Monday.  Get 3 books on small biz mgt, and
entrepreneurship.  and intro to business.

take biz classes in school.

find a passion.  DO not consider any biz without
having passion about it.  find UNMET needs and fill them.
SOLVE people's problems with your biz!

get back to me at your pleasure


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Ronald_P
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« Reply #2 on: December 07, 2008, 06:25:31 PM »

Sounds like a plan. Enlisting in the military is a good idea. There you will learn leadership skills and a trade you can apply to the real world. Believe me, there is more to the military than just being taught how to kill. Anyone who believes that never served in the military you can be sure.


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