Anybody run their own small business? Tried and failed? Any success stories? Applied for small business loans or has info on it? Good friend of mine has the determination of starting his own business and we got to bullshitting about it and I told him I would hop onto the siccness and see if anybody's got any info.
Own your own small business? Tried and failed? Success?
- Thread starter LUXX278
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me and my brother own a record store called (mogame entertainment) .one day i was chillin with about 10 of my homies,e-clips and drew from lowdown .we was inside doing music cause i had a studio in the back and all of a sudden one of the homies came flyin to the back where we was and then the police came runnin right behind him.the police had us all out side on the ground and the homie was still inside hiding.they found him and they also found a ounce of cocaine THAT WASNT MINE too.well,i went to jail facing 8 years cause i had a history of drug sellin already plus i own the store so they put it on me.come to find out,i got off probation a day BEFORE so they was illegal for them to run in the store with out permission so the case was dropped (thank god).but we still got evicted over that shit and had to close the store. to this day i still dont know how put the yay in my store but i know the fool that ran inside only had a warrant thats why he ran plus the yay was where we was and he ran to the other side of the store. after that,i stopped trusting and kickin it with homies like that and started keepin to my self. the place was a success till that happend,then we just fuck it and moved on. so what im tellin you is,if you start a small business and have some stupid ass no good friends,keep them away from you place cause they dont give a fuck about you,your dreams or what ever else you love.
i let go of a lot of my friends after that happened. i just stop trusting so called friends even if they are real cool i always keep my distance now and how close a friend should be. my motto after that was "family only". ill be damn if i go down because of a muthafuckin friend i though i knew set me up.
Haven't gone full on yet, but i do have a small design/photography business - i also work at a non-profit - www.homeysf.org - we have our own social enterprise (business) called Native Graphix where we provide custom silk-screening services, been around for about 5 years now, we created the business so that our organization & the programs could become self-sustainable instead of always having to depend on government funding which we all know has been cutting left & right especially with the new deficit California is in and the new budget our governor has introduced..
But on top of that we also give out small grants/loans to young people 26 & under looking to either start their own business or already have one and are looking to expand and need an extra push or insight. The city gave us $80,000 to distribute in grants & loans to candidates who we screened and went through several trainings and workshops. One of em got a grant to start a Tattoo Shop since he's been doing it from home, another was givin to this guy who wanted to expand on his construction company...we had over 20 participants and we're waiting to hear back on the city to see if our contract will get renewed for next year
I'll post applications on here if we do
But on top of that we also give out small grants/loans to young people 26 & under looking to either start their own business or already have one and are looking to expand and need an extra push or insight. The city gave us $80,000 to distribute in grants & loans to candidates who we screened and went through several trainings and workshops. One of em got a grant to start a Tattoo Shop since he's been doing it from home, another was givin to this guy who wanted to expand on his construction company...we had over 20 participants and we're waiting to hear back on the city to see if our contract will get renewed for next year
I'll post applications on here if we do
it got to me...lol...i just didnt wanna hurt the wrong person cause they all was on some "damn thats fucked up" shit.to this day nobody knows who did it.i try to laugh when i talk about it to make them feel like its over so one of them can say "yea it was me" so i can smash and try to break they fuckin face but who ever it was wont fall for it...lol....
but i had a good ass time at that store and met A LOT of underground rappers.
but i had a good ass time at that store and met A LOT of underground rappers.
the easy part is setting up the business, the hard part is keeping it up. for instance, be sure you have a solid product if youre going in to the restraunt biz, my friends dad owns Ruggie's restraunts (a few locations around the bay) and he said that about 1 in 10 restraunts actually make it, and it is REALLY hard to turn a profit, in fact it takes years to do so.
So make sure you pick a good location, not necessarily a nice one, but a place where the market isn't saturated with a bunch of stores like yours.
My advice is plan carefully, strategically, and don't rush things. Keeping it family is cool, but obtaining capital from outside sources isn't a bad idea either. Some small-time VC's might be interested in going in on it with you, don't factor them out of the equation. The fastest route to failure in business is undercapitalization. The second shortest is failing to meet at least 2 out of these 3 standards:
Quality
Service
Price
good luck with your business!
So make sure you pick a good location, not necessarily a nice one, but a place where the market isn't saturated with a bunch of stores like yours.
My advice is plan carefully, strategically, and don't rush things. Keeping it family is cool, but obtaining capital from outside sources isn't a bad idea either. Some small-time VC's might be interested in going in on it with you, don't factor them out of the equation. The fastest route to failure in business is undercapitalization. The second shortest is failing to meet at least 2 out of these 3 standards:
Quality
Service
Price
good luck with your business!
a lot of people think you could run a business with a rich dad and poor dad book, or some other self help shit out there(paralegals, blah blah blah)
100,000 business fail every year, just think about that for a minute
most business shut down within 3 to 5 years
theres too many people getting rich on selling information on how to get rich
they tell you to spend your money, you "invest", then your shit fails
if you ask me
it all comes down to attitude, and reading between the lines
pickup some books.. im not talking about robert greene and his silly 48 laws of power,
but yeah, i wouldnt really want to tell you,
cause i dont want competition, but go to school and youll find out on your own
100,000 business fail every year, just think about that for a minute
most business shut down within 3 to 5 years
theres too many people getting rich on selling information on how to get rich
they tell you to spend your money, you "invest", then your shit fails
if you ask me
it all comes down to attitude, and reading between the lines
pickup some books.. im not talking about robert greene and his silly 48 laws of power,
but yeah, i wouldnt really want to tell you,
cause i dont want competition, but go to school and youll find out on your own