It would be interesting to hear how you guys started your business

[GB-man]

Inspired by all your stories guys! Will return when I have one worth telling

[rootbeer7]

Originally Posted by MonBK

Did you find a distributor in the US?

Good morning.Time difference working against me! I have a couple of contacts, nothing firm. I wanted to ensure product, packaging all 100% first.

[AgentHsu]

I've had several close calls around me and in my own life prior to the age of 25.

1. Spun out, did a 720 on the i5, clipped by two big rigs. Came out without a scratch. But couldn't believe that I was alive. It felt like a dream.

2. Mother was diagnosed with breast cancer.

3. 2 weeks after her diagnosis, my best bud and I were stabbed 5 times by jerks looking for trouble.

4. Almost hit by a bus.

A couple of years after college, I decided I wanted to use my experiences in a positive and meaninful way. Then one day I got a post card in the mail that read, "be your own boss! Help people prepare for the unexpected.." And the rest was history.

I opened by insurance office in 2009, and slowly built it for the first 3 years. In that time, I took out a couple of loans and my life savings, and shot for gold. I made plenty of mistakes, hasty decisions, bad hires where I held on to some for too long, and squandered money when I knew better. The first 3 years put me in close to $100k in debt. I sold my Lexus, moved out of downtown La from my classy loft, and did whatever it took to survive. Gained 50 lbs of stress weight. Did I mention I also sold my first Rolex (TT DJ) because times were tough? I almost quit in 2011, 2012, and 2013.

In 2014, I started being able to save some money. Started playing bball again and took Muay Thai, and lost the 50 lbs I gained. Reorganized my business strategies and prepared for some big changes.

In 2015, my business completely took off. I made some of the right moves, stopped making the same mistakes, and tripled my sales from the prior year. My business also grew by 40% this past 18 months. Paid off all of my business loans early on this year, just gave my team health benefits, bought a house, and got married.

I'm still growing and learning, and I know I'll have tough times ahead, too. But if I learned anything, it's to never give up. If the next man can do it, so can i!

[bayerische]

Got myself a hamburger kiosk in 2003, sold it to my brother and bought the family restaurant in 2009. Been doing that since.

The place was basically run-down in 2009, and needed huge investments. Something my father at over 60 YO wasn't prepared to do. So it's been a steady pace of working up the place since. It has paid off.

We have always been profitable, but just as a small side note, my revenue is up over 30%.

I do have plans on expanding, but living in a community that is scarcely populated, we live off our summer tourists. So I'm not just going to go spend my money at "getting a second" place. Location is everything when it comes to restaurants. It has to be "just right".

I love being self-employed. It's never the same, constant change. During summer I have 25-30 employees.

[bayerische]

Double post.

[MonBK]

Originally Posted by bayerische

Got myself a hamburger kiosk in 2003, sold it to my brother and bought the family restaurant in 2009. Been doing that since.

The place was basically run-down in 2009, and needed huge investments. Something my father at over 60 YO wasn't prepared to do. So it's been a steady pace of working up the place since. It has paid off.

We have always been profitable, but just as a small side note, my revenue is up over 30%.

I do have plans on expanding, but living in a community that is scarcely populated, we live off our summer tourists. So I'm not just going to go spend my money at "getting a second" place. Location is everything when it comes to restaurants. It has to be "just right".

I love being self-employed. It's never the same, constant change. During summer I have 25-30 employees.

The location of your restaurant is more then just right.

I don't think it's possible to find a better spot.

[bayerische]

Originally Posted by MonBK

The location of your restaurant is more then just right.

I don't think it's possible to find a better spot.

Why I'd like to buy my neighbour.

[MonBK]

Originally Posted by bayerische

Why I'd like to buy my neighbour.

Just make him an offer he can't refuse.

[John Condom]

I just pulled down my pants and let rip.

[AkshayArgade]

I started my property brokerage business with 2 of my biggest assets- a mobile phone for contacts and my car.

I learnt the ropes of the business by working for free at a property developer/broker for 1.5 years.

[MonBK]

Originally Posted by John Condom

I just pulled down my pants and let rip.

Perhaps you could leave your droppings in another thread or better yet, not at all?

[F1polesitter]

Great stories.
I was actually thinking of starting a similar thread.

I have no story to share, as I work for "the man" for a paycheck.
Recently, have been getting this feeling of wanting to start something, and thought about getting advice from those who've found success.

[GolfPunk]

After working as a financial adviser since 1992, in 2003 I decided to set up my own business and 'touch wood' it's going extremely well and getting stronger and stronger each year.

[Tony64]

I made a small fortune collecting expensive watches.

Of course, I started with a large fortune.

[DocHorton]

Mine happened by chance....I had a contract to purchase a decent sized practice and the deal fell through. I went to work for another successful dentist who owned 5 very large practices but he was not a smart business man and got in trouble financially. I was able to purchase one of his practices for a very low valuation and I was able to reduce expenses while growing it over the past several years and have several doctors working for me.

I made a wise investment in commercial real estate that made me a significant amount of money after a few years and then I sold it. I turned that into a much larger business that is doing well. Along the way I have purchased two other businesses and have family members work them so I have monthly passive income. I also made two more real estate investments that have done nicely.

I have been blessed and lucky, but I have worked very, very hard. Success does not come by accident and the well prepared and hard working individuals will be rewarded if they are willing to take risks. It takes guts to make those sort of decisions and I have seen that most people don't have the ability or fortitude to do it.