Personally I think if you can negotiate a good deal, you should take it. Example for every stipulation he adds, ask for a reduction in price.
Paying in installments is great, you won’t need to take a loan and if the business is profitable you are just printing money without worrying about anything.
It’s impossible to convince anyone because you don’t have the details. Please share the details.
You see the problem here is you don’t have any details on the business and you don’t even know how you want to afford this business.
Can you share what is the net profit for this business and how long it will take you to recoup the cost? Also how are you going to buy the business up? Loans or??
Its really missing many details for me to even comment.
Why are you starting out cold when you are working in corporate and have all these connections? You should set up a business (doesn’t cost much) and then start asking clients if they need a consultant offering the services you want to offer.
Don’t even need to quit your job.
I don’t see the important details. I am pretty sure you have not looked at the business financials and whatever you know is what he told you.
If a business consistently turns a profit, there’s no way it can’t get financing. You be crazy to invest.
I don’t see the important details. I am pretty sure you have not looked at the business financials and whatever you know is what he told you.
If a business consistently turns a profit, there’s no way it can’t get financing. You be crazy to invest.
500k to 1m is not big for people working in corporate especially management. I think if you find the right guy, 1 person can fund you entire project.
You have clients working in corporate. They have money and will invest if you can put up a solid business proposal.
Excellent credit doesn’t mean much when you have low income. And you also have a student loan on hand. I don’t think its possible to get a 270k loan.
Looking for outside investors likely would not work either. Your story sounds really shady like being paid under the table. How do you want to explain this part to anyone? Is the business even legitimate?
I don’t think you should take over the business. Firstly you know nothing about it. Secondly you have to give up whatever you are doing now to do it and I think you will resent it.
Working in corporate is great because you have a fixed role. You just do that role and everything else is someone’s problem. Being a business owner for a small company means all the problems are yours. That’s likely the reason why your dad hates it.
My advice is either hire/promote someone to run it or sell it. I am leaning towards selling it.
Lmao, is this a joke post? Someone setting up shop in front of your place during the best sales period and you don’t know what to do?
I mean if you can’t even stand up for yourself and your business, you should shut down shop and do something else.
It really depend on your business and how well you understand it. My advice is start small and scale up. You can’t go wrong starting small and when you start getting sales you can estimate your profits.
Personal thoughts is this just sounds like a classic example of how businesses fail. No idea how long it takes to profit, no revenue and your only source of funds is a reluctant husband who made it clear he doesn’t support the idea in the first place.
Its completely fine to play around as long as you have funds to burn but everyday that your business isn’t making a profit, you are losing money.
My advice is pause for now before you are too deep in, get your mental state in control, get your funds ready before you jump in for another try.
Wrong target audience then blaming the customers for not wanting your product. Do you even know your customer base before developing the product?
I am confused, you are 9 months into business as a company and you don’t have a company legal structure?
The thing is I still have my initial salary
I am financing with my own salary many operations of the company
I am working almost 14 hours per day no days off
You are being taken advantage off. I think being so young nobody told you how work is supposed to be but this isn’t how it should be.
I have started with my best friend a trading(goods) and manufacturing consulting business and that’s going good good. Should I dedicate 100% of myself to this business?
Yea, duh? I mean if you are doing most of the work why stay and be paid peanuts lol.
keeping my reputation in the sector as someone reliable?
Just keep doing things the way you do it, Action speaks louder than words. Reputation is built over time you are just 24 y/o CEO who’s paid peanuts, what reputation you talking about?
There’s a reason why they sell so cheap because its mostly bots and those followers aren’t relevant to your product in the first place.
Lmao, you are severely underpaid. You are pretty much doing the job of multiple people. $800 a month and they want to cut prices.
Just imagine a full time social media account manager making $60k/year with benefits. You are making & 9.6k/year with no benefits and doing way more work than them. They probably need 2 people to do what you are doing.