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Buying a business and risking a lot
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We purchased an established(25 year) business around 14 months ago. It has been an experience for sure! We do things way different than previous owners and the first year we chalked up to a big learning curve, really making strides now. I have a regular 8-5 as a geologist and try to manage the business on the side. We have a few employees that handle a lot for us, I just like keeping up with contracts and invoicing myself.
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Originally posted by FastFox View PostI bought a small business years ago after having worked in corporate America for over 30 years. A good friend who had been self employed for years told me, "If you make it 6 months and dont starve to death, you will never work for anyone else ever". He was so right. Good Luck !!!!!
Luckily we have enough in reserve that we don’t need to make big profits starting out too. I’m not going to worry about that until next year as I have a ton to learn at first.
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Originally posted by zachary View PostWe purchased an established(25 year) business around 14 months ago. It has been an experience for sure! We do things way different than previous owners and the first year we chalked up to a big learning curve, really making strides now. I have a regular 8-5 as a geologist and try to manage the business on the side. We have a few employees that handle a lot for us, I just like keeping up with contracts and invoicing myself.
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Originally posted by zachary View PostWe purchased an established(25 year) business around 14 months ago. It has been an experience for sure! We do things way different than previous owners and the first year we chalked up to a big learning curve, really making strides now. I have a regular 8-5 as a geologist and try to manage the business on the side. We have a few employees that handle a lot for us, I just like keeping up with contracts and invoicing myself.
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