One of my earliest business mentors (in 1985 in Dallas) - a man who was worth several million from his own years in running a manufacturing business - gave me perhaps the most useful advice I ever received.
He warned me that the most common mistake made by people who want to open and operate a service oriented business is that they are fooled into investing into all kinds of overly expensive "veneer" because that's what they see many other businesses doing and they conclude that it can't be done otherwise.
So - in the manner accurately described by WHALEWAGER - they go out and get a loan from a bank or family - and before they've even been paid for their first job they're 10, 20,000 in debt.
They've got the newer truck, the bigger sized machines, the trailer, the shirts with a company logo, four-colored trifold advertisers.....And they're facing a monthly overhead of $2-3000 before they've even fired up their first job.
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Speaking of low-paying jobs...I better get this late night moderation done so I can get some sleep. Working a noon to 6pm outdoor shift Wednesday
He warned me that the most common mistake made by people who want to open and operate a service oriented business is that they are fooled into investing into all kinds of overly expensive "veneer" because that's what they see many other businesses doing and they conclude that it can't be done otherwise.
So - in the manner accurately described by WHALEWAGER - they go out and get a loan from a bank or family - and before they've even been paid for their first job they're 10, 20,000 in debt.
They've got the newer truck, the bigger sized machines, the trailer, the shirts with a company logo, four-colored trifold advertisers.....And they're facing a monthly overhead of $2-3000 before they've even fired up their first job.
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Speaking of low-paying jobs...I better get this late night moderation done so I can get some sleep. Working a noon to 6pm outdoor shift Wednesday