Plan on everything costing twice as much and taking twice as long when running a business. My old employer (business owner) told me this when I struck out on my own to start my own business. It was good advice I didn’t take when I started
Is it worth it to partner with someone and have them keep 90% and you get 10%? They do the work but can call you for advice/information etc? Passive income while you go to school and work. Better than nothing and you already know the biz.
I’m 43 and have been running a service business for 20 years. When I was 19-23 I worked with a man whose company I copied with his blessing in another state. He taught me everything and when I was making my plans to move, he told me to remember 1 thing when planning out the start of the company. “Plan on things taking twice as long and costing twice as much as expected.” Did I take that advice to heart? No. Did I find out the hard way he was correct? Absolutely yes. Make sure you have your numbers and time period down then add a nice cushion on both numbers
I’m in my first legal issue now. My lawyer is $400/hour and the legal process moves at such a snails pace. You’re not going to get sued but I’d expect the chargeback request on their part