Starting a business

[4phw]

Those that finally started their business- what made you finally jump into it? Things you wish you could’ve told yourself looking back? Did you think you’d be successful?

I want to start my business, but the limiting beliefs are strong haha

 

[Rich M]

I regret spending 4.5 yrs in my own business. Worked harder and made less than i would have working for someone else.

Started it after hitting a glass ceiling. 9 yrs later ended up back there. 6 yrs later was made partner for same position i left over. Cant wait to retire now, working my butt off.

 

[grfox92]

Those that finally started their business- what made you finally jump into it? Things you wish you could’ve told yourself looking back? Did you think you’d be successful?

I want to start my business, but the limiting beliefs are strong haha

Tell us your business idea.

 

[Thess87]

I’ve started several businesses throughout my life. I also still work a day job. It gets old work so much but money and fun ain’t free. I keep a couple low maintenance businesses going for a retirement plan and a a couple others going to live on, then I work a day job in order to fund my hunting habits. If I was to guess I’m betting when I’m olderI will regret not quitting my day job and spending more time in my businesses, as they pay better than the day job.

 

[4phw]

Tell us your business idea.

I’ve had a passion for health/ fitness since I was a young fella. Went to school for 3 years and learned (seems useless without putting it in practice) lost 50lbs and wanting to start helping others do the same.

 

[grfox92]

I’ve had a passion for health/ fitness since I was a young fella. Went to school for 3 years and learned (seems useless without putting it in practice) lost 50lbs and wanting to start helping others do the same.

What is your vehicle to put these skills to use? How will you monetize it?

Sent from my SM-S931U using Tapatalk

 

[4phw]

What is your vehicle to put these skills to use? How will you monetize it?

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I have started coaching a friend for free, and in 10 weeks he’s already had some amazing results. Next step is I was going to get a Facebook post to friends/ family and hoping to get referrals from that. A little snowball affect I imagined. Imagining only gets me so far though haha

 

[cbat]

Do some tax research for the state you live in before you start. Some places will rape you like Washington.

 

[4phw]

Do some tax research for the state you live in before you start. Some places will rape you like Washington.

Set up LLC in 2024. I made $1400 in the years from my 1 client. Taxes suck.

 

[RockAndSage]

OP, for fitness coaching, look into Alex Hormozi's work.

Best advice is to plan on working 2 jobs full time - and once your business pays enough that you don't need the income from the normal job, then you can quit and go full-bore into expanding your business. That's bootstrapping, when you don't have a pile of cash to capitalize a new company. Use your day job to fund your business, and just plan on doing 2 full time jobs.

Especially in the beginning, entrepreneurship is very much about working 80 hours per week for yourself so you don't have to work 40hrs per week for someone else.

 

[displacedtexan]

Do you realistically think that you can make enough money from fitness coaching in your area to improve your lifestyle and savings?

 

[Maverick1]

Do some tax research for the state you live in before you start. Some places will rape you like Washington.

There is no historical evidence that George Washington committed rape.

 

[4phw]

Do you realistically think that you can make enough money from fitness coaching in your area to improve your lifestyle and savings?

Never know.. and it would be online- so area doesn’t matter as much.

 

[4phw]

OP, for fitness coaching, look into Alex Hormozi's work.

Best advice is to plan on working 2 jobs full time - and once your business pays enough that you don't need the income from the normal job, then you can quit and go full-bore into expanding your business. That's bootstrapping, when you don't have a pile of cash to capitalize a new company. Use your day job to fund your business, and just plan on doing 2 full time jobs.

Especially in the beginning, entrepreneurship is very much about working 80 hours per week for yourself so you don't have to work 40hrs per week for someone else.

Love hormozi! I’m very ready and prepared to work those hours. I’m currently doing that voluntarily for extra cash at my day job, so why not benefit myself and others starting my own business?

 

[gusty]

Dont let comments discourage you. I started my company in college almost a decade ago and couldn’t imagine working for someone now.

General advice:

ideas are worthless, action is everything

dont pay any coaches, gurus etc.

learn and invest into content creation

 

[Sled]

Thats a low overhead, low risk, word of mouth business. I'd say go for it. You can keep your day job and train evenings and days off until the market shows you the answers. Most start off cash only and work into invoicing, taxes, insurance, etc. Insurance is relatively inexpensive compared to lawsuits. Make sure you get a broker that truly understands what you're doing so you're not over or underinsured. Once you start paying taxes, find a way to write off everything and show as little profit as possible. Depending on your business structure, setting a low salary and taking owners draws can help you out there. There's a whole lot to learn and I've become a slow learner apparently.

 

[displacedtexan]

Never know.. and it would be online- so area doesn’t matter as much.

You should know it's a viable option before starting it.

It's pretty low risk to start while keeping your day job though.

 

[HuntHarder]

Go for it. As mentioned low startup costs and probably easy to start as a side gig at first.

 

[coyoteman]

If you want to do it than go for it.. Balls deep, whole hog, give it your $$cking all. No mention of wife/kids in your original post and if that is the case then what do you have to lose? Find another job you can work that'll give you some flexibility to meet clients after the work day or on weekends. Start a Facebook page and advertise on FB as well. I would also think about starting a youtube channel..Health/wellness channels definitely seem to do well.

I started a landscaping businesses. Some days suck and other days I have the best job in the world. Good luck to you. I'm sure you can be successful with your coaching endeavors if you truly want it bad enough.

 

[jayhawk]

1. Start it as a side gig. See what kind of market there is where you live and if you really enjoy it that much
2. Be a student of accounting
3. Read books “E myth”, “zero to one”, “Rich dad poor dad” etc.

Don’t overthink it, just go out and tackle it and let the dice fall where they land