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I finally took the leap and started a business.
- Thread starter ford guy
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- construction gutters
Profit, profit, profit. I am embarrassed to admit how many years I operated calling myself getting a paycheck “profit” 
Right. At first getting a paycheck from yourself instead of from someone else seems like success, and it is. But I think most entrepreneurs want something more than that. It takes some time. My first 5 years took a toll on me working my ass off for a paycheck. Then I regrouped, streamlined my operation and trained a manager. Now he does what I used to do and I take my kids to school every morning, pick them up every afternoon. I come in to comb over the numbers and check over everything, but for the most part I run it without me. I pay my manager more than I made when I was trying to do everything myself. Everyone wins and I’m gearing up to open a second location.Profit, profit, profit. I am embarrassed to admit how many years I operated calling myself getting a paycheck “profit”
You can do a GA LLC very easily, by yourself, no lawyer needed. I had an insurance examination and consulting business from 1998 to 2013. Went to the SOS office in the Floyd building down by the capitol. Walked in, told them what I wanted to do, they pulled a sheet of plain white paper from the tray on the copy machine and said we need the following information.
Name of LLC, official mailing street address, names of the founding members, purpose of business,(what kind of work are you going to do) and name of "registered agent" for legal service (just one of the founders).
Wrote this out by hand in about 5 minutes, paid them $75, and I was in business, pun intended. The IRS had an small office right next door, stepped in there and applied for a FEIN for the business. And I was done in about half an hour.
About 5 years later I did the same thing to help my son start his trim carpentry business. GA makes this very simple, had a buddy in IL, and he was looking at in excess of $500 to the state, plus legal fees, because in IL you have to use a lawyer, can't do it yourself.
One of the easiest things I have ever done, and I worked under that LLC for 15 years until I retired.
Name of LLC, official mailing street address, names of the founding members, purpose of business,(what kind of work are you going to do) and name of "registered agent" for legal service (just one of the founders).
Wrote this out by hand in about 5 minutes, paid them $75, and I was in business, pun intended. The IRS had an small office right next door, stepped in there and applied for a FEIN for the business. And I was done in about half an hour.
About 5 years later I did the same thing to help my son start his trim carpentry business. GA makes this very simple, had a buddy in IL, and he was looking at in excess of $500 to the state, plus legal fees, because in IL you have to use a lawyer, can't do it yourself.
One of the easiest things I have ever done, and I worked under that LLC for 15 years until I retired.
All the best
Production automotive paint and body.
And I only ask because I have always loved the idea of opening other locations, scaling in general, or working out other relationship ways to grow Duplicate operations. Once you figure it out and learn the hard way over many years, it would bseam easy to duplicate a similar operation if you had the energy.
This is totally correct. I also spent many years make it a paycheck, but not really making money off the investment of time and energy and liability of owning your own operation. But sometimes that’s necessary I think in the beginning, but that should not be your plan, unless you just doing a little work for fun. That’s a different deal.
I opened and oversaw multiple locations for someone else before I owned my own. It's definitely a different animal entirely that requires a completely different skillset. I was always told that one is hard, two is almost impossible and with 3 it starts getting easier. 3 is usually when you can justify the additional salary of that next level manager to oversee multiple operations for you. The higher you go in an organization, including your own, the less it becomes about the day-to-day operation of the business on a technical level and becomes more about dealing with people. Which is exponentially harder than dealing with something 100% predictable like paint or aluminum gutters. I've got a friend that owns an automotive service center and he can't figure out why he can't grow. I keep telling him that if he works like a mechanic he'll always be a mechanic and get paid like a mechanic. If he'd hire a mechanic then he could be a businessman and focus on growth. He says he can't afford it. The way I see it, he can't afford not to. Work ON your business not IN your business was some of the best advice I ever got.
