[TriLUG] Starting / Running a business???

Jeffery Painter painter at kiasoft.com
Mon Oct 13 23:11:56 EDT 2003


I worked for a company for 2 years that filed for bankruptcy and saw the 
writing on the wall as well. I spent roughly 5 months before leaving that 
orginization planning and garnering my resources before making the leap 
100%.

sound advice for anyone:

1. if possible, become 100% debt free (took me 4 months, but I have been 
ever since I left my job to work for myself, almost 16 months now)

2. build a protection / savings account - you never know when times may 
get rough


I would first ask what it is you want to accomplish. I made the mistake of 
thinking I could do more than I thought I could initially and possibly 
hurt some people who I was interested in working with along the way. I realised 
quickly that I'm not a good manager of other people, only good at managing 
myself.

Taking that point of view, if you want to take on employees, make sure you 
get some training in managerial tasks or seek advice and assistance in 
those areas that you are not comfortable with... could have saved me a lot 
of heartache/headache in the scheme of things, but I am back on track and 
use Linux/java 100% for my business and staying busy with it. I do still 
work alone, but it is probably the best mode for me currently.

I would also try to determine what services you are going to offer and if 
a market exists for those services. What can you afford to get by on if 
your business seems to be running a bit slow... it is amazing how little 
one can survive on when you need/have to.

Are you willing to put in the long hours required? I routinely spend 60-70 
hours a week running my business and I am just one person. If you can 
afford to hire help, it may be wise to at least start looking for those 
people who's strength's you can leverage.

get familiar with taxes, a good accountant and either read some financial 
planning materials or find a decent financial advisor.

I have been using american express's Open business partners and hired a 
financial advisor who is helping me to make sure I'm protecting myself on 
the insurance front as well as planning for retirement. it wasn't that 
expensive, but it did take me over a year to get many of the basics 
covered that if you are employed by someone else are usually there from 
the get go... 

it is a tough world, but rewarding, and I don't have any regrets about 
stepping out on my own.

I'm on the road a bit so unfortunately, don't really have time to attend 
many meetins or to make lunch plans.

good luck and if you want any contacts for the above info, I will be happy 
to pass them along.

Jeff Painter


On Mon, 13 Oct 2003, Phillip Rhodes wrote:

> Hi, fellow Tri-LUG'ers, I'm looking for some info...  specifically from 
> any Tri-LUG'ers who have founded / run their own business
> based on / around open-source software.
> 
> Right now, I have reason to believe that the company I'm currently 
> working for, might not be around much longer.  In the process of 
> deciding what
> to do next, I find myself thinking more and more about trying to start 
> my own business.  So, if any of you guys or gals have been through that 
> before,
> and are willing to spend some time discussing things, I'd REALLY like to 
> sit down and talk with you (maybe over lunch? Crazy Fire anybody?)
> 
> I don't really have a lot of specifics in mind yet, as far as what I'd 
> like to talk about. Just a general discussion, really, of all the stuff 
> involved. 
> I DO have a general idea of what the business I'd be founding would be 
> doing, but this is all still very speculative of course.  Basically, I'm 
> just
> interested in chatting, asking questions, bouncing ideas around, etc.
> 
> Anybody who'd be willing to sit and talk for a while, please let me 
> know.  If there's several of you, maybe we can all meet as a group even, if
> everybody's agreeable, and the timing works out.
> 
> Thanks,
> 
> Phillip R.
> 




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