the solution to my bitching....

[strongchick]

okay. I've been yapping about politics, capitalism, the job market, etc.

I've been upset lately that for years my earnings went up and up, and this year, suddenly went down, even though I know more and am better at what I do...even though my skills are in demand, I changed careers,...etc. etc., blah blah blah. I've even tired myself out thinking about it.

So I read Rich Dad, Poor Dad. Random Walk Down Wall Street. Surfed the web for business ideas. For three months, I've been living like a pauper, saving every dime. I have gone for a month straight, spending no more than $5/week on incidentals, and putting the rest in a mutual fund.

So. I officially join the capitalists and I am now ready to exploit my looks and personality in the name of the almighty dollar and pursuit of the American dream that the majority on this board still believe is possible for people who are driven and the best at what they do.

I've decided to purchase the rights to a newspaper publishing business that targets new home owners. Local businesses advertise, and are guaranteed an appropriate market of new home owners, given that in my area, people move around a lot, this is a good, fool proof idea for small businesses that need to maintain a local customer base to survive. The publisher I purchase from provides me copy (appropriate articles, photos, and layout) and I provide ad sales, rate sheet, printing costs, shipping/mailing costs.

There are several papers in my area that provide advertising space, but do not target new homeowners, and are not MAILED. They rely on distribution to stores/retail, etc., and do not provide specific, neighborhood based targeted marketing.


1. I get my own base of customers...even if my publisher goes belly up, I can still maintain a publication by purchasing copy material from some other company. My customer base sticks around.

2. The business has equity. I can borrow against it or sell it once it becomes profitable.

3. I'm a natural at selling. I've done it before, sold millions of dollars in software. If I can't do it for myself, I'm an idiot. Granted, advertising is even less tangible...a challenge, but a challenge is what I welcome.

4. Not recession proof, but advertising is still a viable expense during a recession.

5. I've read a sample edition, and the articles are good. I can add as much of my own material as I want.

6. It is cheap...I pay a few hundred dollars now, 10% royalties, and a guarantee...if I can't make it fly in six months, I get most of my money back.

7. My significant other is jobless. She can help me until I can quit my job

8. I can't live with myself if I don't try to make a go of it.

All the yammering I've been doing is to provide the courage to just do it.

Well, I'm just going to do it. I'm writing a business plan this week. I'm already incorporated...



I hereby proclaim to quit my job in six months, and in one or two years, open an office with professional free lance writers and reviewers (restaurant, film) and 2 sales reps.

Any naysayers, constructive, thoughful, or even inane criticism should be posted to this thread so I can print it out and nail it to my home office wall so I can read it when this business gets difficult or I get rejected.

If I am as good as I think I am, I should be able to win this game.

 

[BO-CEPHUS]

good luck

 

[strongchick]

tell me I'm an idiot. tell me why I will fail.

 

[Lao Tzu]

tell me I'm an idiot. tell me why I will fail.

i wouldn't know. im not involved in the industry. i remember hearing once that 90% of magazines go belly up.

 

[musclebrains]

i wouldn't know. im not involved in the industry. i remember hearing once that 90% of magazines go belly up.

At best.

 

[spentagn]

tell me I'm an idiot. tell me why I will fail.

You're an idiot. But good luck, I admire determination and commitment.

 

[RyanH]

You're an idiot. But good luck, I admire determination and commitment.

Be nice Spent.

 

[spentagn]

Be nice Spent.

I was. I said good luck. I meant it.

 

[strongchick]

i wouldn't know. im not involved in the industry. i remember hearing once that 90% of magazines go belly up.

yeah...but 80 to 90% of ALL businesses fail. At least the one I'm buying has a proven readership and distribution in another part of the country (circulation of 200,000 so far).

 

[Balls of Steel]

tell me I'm an idiot. tell me why I will fail.

Your not white, remember. If you fail, you can sue them for (whatever you just posted about, I didnt read that crap) because you are a minority.

Thats why you wont fail. Just say somone discriminated against you.

 

[musclebrains]

Be nice Spent.

Spent is the child of journalists. They neglected him because of their deadlines and now he is bitter about the publishing business.

 

[spentagn]

Spent is the child of journalists. They neglected him because of their deadlines and now he is bitter about the publishing business.

No, they neglected each other because of their deadlines. If I had been neglected, especially by my father, I'd prolly still be searching for that special man in my life.

 

[musclebrains]

Seriously, good luck, Strongchick. What format is this publication? What kind of mailing permit does it have?

 

[musclebrains]

No, they neglected each other because of their deadlines. If I had been neglected, especially by my father, I'd prolly still be searching for that special man in my life.

LOL...that's a Freudian wives' tale. Dr. Sig also theorized that homosexuality was caused by OVERidentification with the father. He found the etiology so mysterious that he ended thinking homosexuality was a viable sexual choice and counseled patients and their parents to accept it. Only the American psychoanalytical academy chose to adopt the one speculated cause of the absent father.

 

[gymnpoppa]

okay.
I hereby proclaim to quit my job in six months, and in one or two years, open an office with professional free lance writers and reviewers (restaurant, film) and 2 sales reps.

Any naysayers, constructive, thoughful, or even inane criticism should be posted to this thread so I can print it out and nail it to my home office wall so I can read it when this business gets difficult or I get rejected.

If I am as good as I think I am, I should be able to win this game.

Good luck STCh, work hard, and don't let the roadblocks discourage you. I would be happy to share any tricks I know to help you out. hmmmm......restaurant reviewer huh? Too bad I'm in Dallas......I'll offer guest nutritional cooking tips.

My input would really give your pub some value....hahahahaha
J/K!

 

[the nature boy]

Your not white, remember. If you fail, you can sue them for (whatever you just posted about, I didnt read that crap) because you are a minority.

Thats why you wont fail. Just say somone discriminated against you.

I'm not sure if this is possible but you're getting even more stupid. You must have to remind youself to breathe.

 

[the nature boy]

good luck strongchick. only in america baby.

 

[spentagn]

I'm not sure if this is possible but you're getting even more stupid. You must have to remind youself to breath.

To breathe even

 

[musclebrains]

You're in Dallas, gym? do you know Stephan Pyles' work? Is Star Canyon still open?

 

[strongchick]

Seriously, good luck, Strongchick. What format is this publication? What kind of mailing permit does it have?

T'anks!
Presorted standard.

 

[musclebrains]

To breathe even

Oh, now, what did you say when I corrected YOUR spelling recently? Huh? C'mon.

 

[the nature boy]

To breathe even

thanks for proofreading.

 

[musclebrains]

T'anks!
Presorted standard.

You call it a newspaper. Is it broasheet or tabloid or what?

 

[the nature boy]

Oh, now, what did you say when I corrected YOUR spelling recently? Huh? C'mon.

he must have been scarred from it. ha ha.

 

[spentagn]

Oh, now, what did you say when I corrected YOUR spelling recently? Huh? C'mon.

When calling someone stupid, try not to prove your own shortcomings. That is all.

 

[musclebrains]

When calling someone stupid, try not to prove your own shortcomings. That is all.

hello! that is exactly the point I made to you.

 

[strongchick]

hey! this thread is about me and MY idiocy. Stick to the topic...

 

[Balls of Steel]

I just state the facts boys. Stronchick seems like the kind of person who would sue somone becuase she thinks she got discriminated against. Maybe she isnt, I dont know.

 

[spentagn]

hello! that is exactly the point I made to you.

I was refering to their obvious lack of political intelligence. This was a direct attack at BOS. If you can't see the difference, I'm sorry.

 

[strongchick]

I just state the facts boys. Stronchick seems like the kind of person who would sue somone becuase she thinks she got discriminated against. Maybe she isnt, I dont know.

suing leads to bad karma and negative stress. Two things I prefer to steer clear of.

 

[gymnpoppa]

You're in Dallas, gym? do you know Stephan Pyles' work? Is Star Canyon still open?

Valley Ranch (Irving) actually, but I'm in Dallas daily, I don't believe Star Canyon is still open. Pyles......not familiar with his stuff either. I'm 3 years settled here now......been working too much, and traveling......are you familiar with Dallas area?

 

[spentagn]

suing leads to bad karma and negative stress. Two things I prefer to steer clear of.

The karma thing's not working out so well, huh?

 

[musclebrains]

I just state the facts boys. Stronchick seems like the kind of person who would sue somone becuase she thinks she got discriminated against. Maybe she isnt, I dont know.

That is not a fact. It's an opinion and, in my opinion, it's completely ungrounded. Strongchick is so much a capitalist, she worries me.

 

[musclebrains]

Valley Ranch (Irving) actually, but I'm in Dallas daily, I don't believe Star Canyon is still open. Pyles......not familiar with his stuff either. I'm 3 years settled here now......been working too much, and traveling......are you familiar with Dallas area?

Oh yeah, I spent a miserable year as an editor of D and, strangely, I was also at Texas Monthly. Just think, I could have known you and Spent.

Pyles is a culinary genius. His sister is an old friend of mine. She's working with him now. I can't recall what their new venture is.

 

[spentagn]

Oh yeah, I spent a miserable year as an editor of D and, strangely, I was also at Texas Monthly. Just think, I could have known you and Spent.

Pyles is a culinary genius. His sister is an old friend of mine. She's working with him now. I can't recall what their new venture is.

You most likely don't know me, but you may very well have come in contact with my mother.

 

[musclebrains]

You most likely don't know me, but you may very well have come in contact with my mother.

You would have been a child. Anyway, I was based in Houston when I was with TM.

 

[gymnpoppa]

You would have been a child. Anyway, I was based in Houston when I was with TM.

I grew up in Houston, been a nomad over the last 10 yrs.....Spain, East Coast, and now, North Texas........plotting a semi-permanent (semi-retired) move back to Europe (Germany, or Spain).....what's your take on Europe?

 

[smallmovesal]

hey i knkow how to not get you to bitch... it involves you, me, various positions, and a lot of tongue lashing

 

[the nature boy]

gymnpoppa check your PM. Thanks.

 

[spentagn]

You would have been a child. Anyway, I was based in Houston when I was with TM.

My mom worked for the Chronicle.

 

[musclebrains]

I grew up in Houston, been a nomad over the last 10 yrs.....Spain, East Coast, and now, North Texas........plotting a semi-permanent (semi-retired) move back to Europe (Germany, or Spain).....what's your take on Europe?

Good ol' Houston. I was editor of your city magazine when the economy collapsed. What a nightmare, bounced to D, then to Texas Monthly.

Spain. Southern Spain. It is extremely cheap and the most civilized place in Europe that hasn't been spoiled by American consumer culture. I've been spending over four months a year there and would love to live there fulltime. I'm actually doing some work there in March, so I'm hoping it will be the start of something for me there. I'll likely take the leap and lease an apartment this trip. I've spent twice what a year's lease would cost in short-term rentals in four months.

I think Sevilla is among the most beautiful cities in the world, though very hard to break into socially. I really love Madrid -- more than Barcelona, which is a lot like Paris, but a bit too American-influenced for my taste. So, I usually spend my time in Spain between Madrid and Sevilla, with trips down to to the coast to see friends.

 

[musclebrains]

My mom worked for the Chronicle.

Then we almost certainly met. Just think, you were a mean little kid, bouncing on her lap, when she and I were coping with Anne Richards.

 

[spentagn]

Then we almost certainly met. Just think, you were a mean little kid, bouncing on her lap, when she and I were coping with Anne Richards.

I was with my mom when we ran into ann in Paris, at the expense of the tax payers. I was eleven.

 

[musclebrains]

I was with my mom when we ran into ann in Paris, at the expense of the tax payers. I was eleven.

LOL...que rico. I loved Ms. Richards, actually.

 

[spentagn]

LOL...que rico. I loved Ms. Richards, actually.

If only you were a woman...

 

[strongchick]

Strongchick is so much a capitalist, she worries me.

yup. And I'm getting into the specialty newspaper business for the stuff I can wrap around the advertising. Sad. Now that I've understood that many many articles in publications are ads masquerading as journalism...

...and real journalists are a dying breed...

...I don't feel so bad about exploiting the medium. I don't mind being an ad sales hack for the independence or the money!!!!

although...the stuff I'm reading in the sample copy is pretty good...

 

[musclebrains]

If only you were a woman...

Um....uh...glad I'm NOT. *looking around for a clue*

 

[musclebrains]

yup. And I'm getting into the specialty newspaper business for the stuff I can wrap around the advertising. Sad. Now that I've understood that many many articles in publications are ads masquerading as journalism...

...and real journalists are a dying breed...

...I don't feel so bad about exploiting the medium. I don't mind being an ad sales hack for the independence or the money!!!!

although...the stuff I'm reading in the sample copy is pretty good...

Do you have competition?

 

[spentagn]

Um....uh...glad I'm NOT. *looking around for a clue*

Just saying you might love ann even more if you were.

 

[musclebrains]

If only you were a woman...

Doh, just got it.

 

[strongchick]

Do you have competition?

There is an ads only coupon package that is mailed with local businesses featured. Most of them are big companies (the big grocery stores, department stores) that may or may not be nearby.

There is no regular mailing for new homeowners here. The Post Office sends a very pitiful, thin package, with a few businesses.

The Reader has a lot of local businesses, but it is city-wide, and no color ads...it has so many pages that readers may/may not see your ad, and there is heavy competition for positioning. But folks will compare my rates to theirs, so I have to understand this option well to sell against it.

 

[gymnpoppa]

Good ol' Houston. I was editor of your city magazine when the economy collapsed. What a nightmare, bounced to D, then to Texas Monthly.

Spain. Southern Spain. It is extremely cheap and the most civilized place in Europe that hasn't been spoiled by American consumer culture. I've been spending over four months a year there and would love to live there fulltime. I'm actually doing some work there in March, so I'm hoping it will be the start of something for me there. I'll likely take the leap and lease an apartment this trip. I've spent twice what a year's lease would cost in short-term rentals in four months.

I think Sevilla is among the most beautiful cities in the world, though very hard to break into socially. I really love Madrid -- more than Barcelona, which is a lot like Paris, but a bit too American-influenced for my taste. So, I usually spend my time in Spain between Madrid and Sevilla, with trips down to to the coast to see friends.

I was in Houston when the economy collapsed......I went into the military.....
definitely Southern Spain. Palma was my place of residence...though I frequented Barcelona, and Rota a bit. I worked right on the beach (bartender), and didn't know then how good I had it. Perfect climate......wonderful views......beautiful cities.......I have just scheduled a week in Ibiza next summer..... , been looking for a house, but not sure where I'm going to setup shop......just yet. Madrid.....Sevilla is nice......how about the food there?

 

[strongchick]

I have just scheduled a week in Ibiza next summer.....

I workout to Ibiza house/techno ! Hedonism gone mad!

 

[spentagn]

I workout to Ibiza house/techno ! Hedonism gone mad!

can I watch?

 

[musclebrains]

I was in Houston when the economy collapsed......I went into the military.....
definitely Southern Spain. Palma was my place of residence...though I frequented Barcelona, and Rota a bit. I worked right on the beach (bartender), and didn't know then how good I had it. Perfect climate......wonderful views......beautiful cities.......I have just scheduled a week in Ibiza next summer..... , been looking for a house, but not sure where I'm going to setup shop......just yet. Madrid.....Sevilla is nice......how about the food there?

Spain's cuisine is a problem for me -- and probably moreso for you, because they basically don't eat vegetables, unless you consider spinach cooked with organ meat a vegetable. Their other big vegetable is iceberg lettuce.

Last time I was in Barcelona, I got so fucking sick of the food I sought out a vegetarian restaurant. It was like a trip back to the '60s and it was full of other Americans dying for something green.

Barcelona and Madrid both have world-class restaurants featuring fusion cuisines. I presume you know that they don't eat dinner before 10 in the evening. The further south you go, the less people even eat dinner. Instead they graze on tapas and such. In Sevilla, I always eat my large meal at lunch time, as most of them do, and then just have a few tapas in the evening. If I'm carrying any excess weight when I go to Spain, it always comes off in two weeks there. High protein small meals throughout the day is their natural way of eating.

If you're gonna do a vegetarian restaurnat, I know you know you'd be better of in Germany.

 

[musclebrains]

I workout to Ibiza house/techno ! Hedonism gone mad!

Do joo have the mixes by Alfredo, que caliente. I love that shit. I went to an Ibiza club music party two weeks ago.

 

[musclebrains]

Oh, by the way, gym, there IS a vegetarian restaurant in Sevilla. It cracks me up. The waiters smoke while they take your order.

 

[strongchick]

Seriously, good luck, Strongchick. What format is this publication? What kind of mailing permit does it have?

I forgot to mention the format. It is tabloid style, four columns. Option to have one color or four color ad on front or back. It has a 'find the fake ad' monthly contest with monetary prize to encourage perusal of all the ads by readers.

The articles are mostly home improvement related, cooking, entertainment, and there is a monthly feature, e.g. January is fitness month, February is auto month, etc. There's categorized directories of businesses (paid listing), and no classifieds.

Its been in business since 1990.

Most folks would not do this kind of business, because it is mostly a sales job....limits potential competitors.

 

[strongchick]

Do joo have the mixes by Alfredo, que caliente. I love that shit. I went to an Ibiza club music party two weeks ago.

I've been thrifty and frugal lately, so I don't have much new stuff...the one in my CD now is an Ashley Abram compilation/mix. I have a few others...

 

[HumorMe]

1. I get my own base of customers...even if my publisher goes belly up, I can still maintain a publication by purchasing copy material from some other company. My customer base sticks around.

2. The business has equity. I can borrow against it or sell it once it becomes profitable.

3. I'm a natural at selling. I've done it before, sold millions of dollars in software. If I can't do it for myself, I'm an idiot. Granted, advertising is even less tangible...a challenge, but a challenge is what I welcome.

4. Not recession proof, but advertising is still a viable expense during a recession.

5. I've read a sample edition, and the articles are good. I can add as much of my own material as I want.

6. It is cheap...I pay a few hundred dollars now, 10% royalties, and a guarantee...if I can't make it fly in six months, I get most of my money back.

7. My significant other is jobless. She can help me until I can quit my job

8. I can't live with myself if I don't try to make a go of it.

All the yammering I've been doing is to provide the courage to just do it.

Well, I'm just going to do it. I'm writing a business plan this week. I'm already incorporated...

Let me ask a couple of questions that I may have missed in your earlier post.

1. Is this customer base established by you? If your primary publisher does go belly-up...would another publisher's cost stay the same or would the cost be greater/smaller?

2. Say in six months you are not where you would like to be in a business sense or were frustrated with trying to convince people to spend money with your company.....What kind of equity would you have in this venture?

3. At least you've acknowledged the difference in software and newsprint, that's very important! What are you bringing to the general public that hasn't been tried before? Anybody can bring a product or service to the public but if you don't fill a niche in the market, your efforts could be fruitless. The old phrase, "It's useless beating a dead dog!" would be something to consider.

4. Most businesses are not recession proof at least you've recognized this. Ask yourself this.....Is your timing right on this decision? Trying to start up a business right now could be detrimental financially and as well as psychologically. Fail this first time and you might be scared to do it in the future. Money is very tight right now even more so in the private business clients you will be going after. Private businesspeople will spend more frugally than anyone. I'm sure you have looked at this, by the way.

5. If you add more material from yourself.....will it be about your own particular tastes or will it be designed to incorporate everybody's taste. Remember, you will never please everybody!

6. Speculating on "ifs" can get you in trouble always! I know this is going to sound bad but set your goals but don't set them so high that they can not be met. In business for yourself you will always be let down.

7. Family and friends never mesh in business. The possiblity of losing that significant other could never be at a higher risk than in business together. I would really think about that before treading in that direction.

8. I admire you for trying to fulfill a dream that every eager person would love to do but don't have the nuts and guts to try. By the way, I know you don't have nuts! It was just use as an adjective!

I've been in business for myself for 21 years. It can be gut-wrenching at times but the pluses outweigh the negatives. At this particular time in our nation's economy, I wouldn't dare spread my wings to try something new. That's my own personal opinion and not said to demoralize you in any way. You might be in the right place at the right time and you want to capitalize on it. Research your business plan and re-research it and write it down numerous times until you feel satisfied it will work and then follow it. Never change the rules in the middle of the game. Stick to what you know and believe in what you are doing and don't get sidetracked if something awful comes along. Always have a back-up plan too! One thing you might want to consider in your publishing articles and you might already have it in place......Feature a different business client in each publication to try and promote that particular business. Be careful though if you have two clients with the same kind of business. Go the extra mile for Businesses/Clients and make them feel that they are actually participating in the efforts to get this off the ground. Something else that might work or you might want to consider......If you have clients that don't want to spend a lot of money with you because they are strapped for cash or for whatever reason....barter with them if they have items that might interest you whether it be food, clothes, etc.....Private business people love to barter! Believe me on this one. This advice might help you or you might just throw it aside with the rest and consider it useless information. Good luck though!

 

[strongchick]

Re: Re: the solution to my bitching....

1. Is this customer base established by you? If your primary publisher does go belly-up...would another publisher's cost stay the same or would the cost be greater/smaller?



by me. I have to go out an get the business.



2. Say in six months you are not where you would like to be in a business sense or were frustrated with trying to convince people to spend money with your company.....What kind of equity would you have in this venture?


The equity I build is the customer base, which I build personally. If no one buys, I have no equity. This is based on the assumption that the advertisers repeat, or commit, to monthly, yearly, or whatever, purchases.


3. At least you've acknowledged the difference in software and newsprint, that's very important! What are you bringing to the general public that hasn't been tried before? Anybody can bring a product or service to the public but if you don't fill a niche in the market, your efforts could be fruitless. The old phrase, "It's useless beating a dead dog!" would be something to consider.


I talk to people I do business with in my neighborhood...they tell me business has decreased somewhat...they still have good client base though, because they are necessities: dry cleaners, groceries, fruit stands, insurance, auto repair, video rental.

I am worried about the recession, and so I'm going to have to keep my day job. My feeling is that I can convince people doing less business because of the recession to advertise MORE....otherwise, they will definitely go out of business. I am also secure in the knowledge that the best businesses, even start ups, can survive in an economic downturn IF they are good, and serve a need. I see that a lot of local businesses are dropping off flyers, menus, and such, door to door, and missing the direct mail opportunity because it is VERY expensive. Not only will I offer a cheaper alternative, but a BETTER alternative.

4. Most businesses are not recession proof at least you've recognized this. Ask yourself this.....Is your timing right on this decision? Trying to start up a business right now could be detrimental financially and as well as psychologically. Fail this first time and you might be scared to do it in the future. Money is very tight right now even more so in the private business clients you will be going after. Private businesspeople will spend more frugally than anyone. I'm sure you have looked at this, by the way.


My experience in sales is that people spend when they have a need. My job is to help them recognize a need. Even if purchasing an ad doesn't pay off right away, how could a local business NOT want to directly target new homeowners? These customers are ripe for plucking AS SOON AS THEY MOVE IN...not AFTER they've settled in and already chosen local shops to be loyal to.


5. If you add more material from yourself.....will it be about your own particular tastes or will it be designed to incorporate everybody's taste. Remember, you will never please everybody!


Some of my questions will be will the businesses I solicit take a look at the publication and decide the material is/is not interesting enough...I don't know. This is the unknown that worries me the most. I have no experience with entertaining a readership....this is the kind of guidance I hope the publishers will provide, and hence, earn their royalty.


6. Speculating on "ifs" can get you in trouble always! I know this is going to sound bad but set your goals but don't set them so high that they can not be met. In business for yourself you will always be let down.


I've had some practice with managing/setting goals, given I've had to answer to sales managers for years. Life is a numbers game...the more calls, the more prospects, the more appointments, the more sales....etc.

7. Family and friends never mesh in business. The possiblity of losing that significant other could never be at a higher risk than in business together. I would really think about that before treading in that direction.


I don't expect much. I expect little, and if I get a return, so much the better. If not, well...it is MY dream.

8. I admire you for trying to fulfill a dream that every eager person would love to do but don't have the nuts and guts to try. By the way, I know you don't have nuts! It was just use as an adjective!


Thank you! It does take guts....but honestly, I think I'm more motivated by fear...fear of job market obsolescence, fear of falling prey to the whims of corporate management....I can't continue complaining and do absolutely nothing.


I've been in business for myself for 21 years. It can be gut-wrenching at times but the pluses outweigh the negatives. At this particular time in our nation's economy, I wouldn't dare spread my wings to try something new. That's my own personal opinion and not said to demoralize you in any way. You might be in the right place at the right time and you want to capitalize on it.




I've worked in sales for small businesses, large businesses. Working directly for company owners is its own challenge, and has been a great learning opportunity. Sometimes they shared too much...I've watched them sweat over payroll...sales figures...bills...

Regarding spreading of wings during this economy...I can no longer allow others to control my life...I don't mind have a zillion bosses...at least in my own business I get to choose.

If knocking on doors is what I have to do, so be it. It isn't my ego...it is necessity for my own survival.

I choose now BECAUSE it is hard. I'm not supposed to succeed...these are the kinds of mountains that I've faced all my life, and the bigger the mountain, the harder my charge.


Research your business plan and re-research it and write it down numerous times until you feel satisfied it will work and then follow it. Never change the rules in the middle of the game. Stick to what you know and believe in what you are doing and don't get sidetracked if something awful comes along. Always have a back-up plan too! One thing you might want to consider in your publishing articles and you might already have it in place......Feature a different business client in each publication to try and promote that particular business. Be careful though if you have two clients with the same kind of business. Go the extra mile for Businesses/Clients and make them feel that they are actually participating in the efforts to get this off the ground. Something else that might work or you might want to consider......If you have clients that don't want to spend a lot of money with you because they are strapped for cash or for whatever reason....barter with them if they have items that might interest you whether it be food, clothes, etc.....Private business people love to barter! Believe me on this one. This advice might help you or you might just throw it aside with the rest and consider it useless information. Good luck though!

All of this is excellent advice. Ive spent much of my life bargaining...making creative deals...I look forward to the creative potential of ad sales, too. Barter, trade...great ways to move a relationship forward for when times are better and money is available.

This business is necessary for my psyche. I must mention that I congratulate and honor every person that has tried this and succeeded or failed...it is a decision that impacts so many others. It makes a 'man' or 'woman' of you, nuts or no nuts....because you have to make difficult decisions, compromises, and take on the worry of your own enterprise.

 

[gymnpoppa]

Good self-check post of questions you should be answering....I contemplated posting a similiar one, but was sidetracked about Spain.......


Musclebrains, I won't be doing a restaurant over there......I'm hoping to make a deal with a close business partner to manage my catering biz here, and do something for kicks there. Mostly read, and travel.

 

[strongchick]

I've honed my lifestyle down enough that I can make it on $3000/month, if need be. (This took years to do, by the way. I used to think of cable as a necessity...)

That would mean if I quit my job I would have to have enough customers to cover expenses, plus enough profit to cover living and future expenses. This means I would need, at an average sale of $400/customer, 10 new customers per month, at the least, to survive. 2-3 new customers per week....at first, until the ball starts rolling....then folks will commit to longer runs.



for you business owners...self-employed folks...
what is your biggest challenge? HumorMe mentioned the recession...how are the rest of you doing?

 

[gymnpoppa]

for you business owners...self-employed folks...
what is your biggest challenge? HumorMe mentioned the recession...how are the rest of you doing?

PM me, for a classified answer.

I'm not as affected by the recession as most, because I have dealt mainly with people who's incomes (pro athletes) are strong. that was the plan, and I've never detoured from it. I've added other pieces, such as targeting gyms for new ideas......but not getting too hyped when it's good, or too down when it's rough, is a way of avoiding the inevitable swings of businesses.....

 

[HumorMe]

I'm not trying to grill you with all of these questions but a couple of more things.

Have you thought about the second half the first question I asked you? If not, check out the alternatives.


It's hard to go to the bank looking for money with only a customer base for collateral. I'm not trying to come across sideways or anything but although a great customer base will surely be a plus, a bank wants something tangible they can put their hands off in case you go into default. I know equity and collateral are two different things but there might be a time when you need a cash infusion. If you own a house and have equity in it, you might think about a line of credit against your house. Even if you don't need the extra money, a line of credit comes in very handy. Just don't get carried away with line of credit though because it does have to be paid back. I've seen people get in trouble with lines of credit.

A customer base does look good to a potential buyer but when businesses change hands between buyer/seller, a part of that base or alot of that base is going to leave because that relationship you had with those business owners will no longer be the same. Having ad contracts with customers does help this situation out greatly if you can get the owners to commit to something like that. You can sell contracts/leases although I don't know how many pennies on the dollar they would bring.

Small business owners always want more business but a smart business owner will always have an advertising budget.
Convincing them to spend more than they are already spending is always fly in the ointment. Now, convincing them to spend their dollars more wisely, they will always listen. Everybody wants more bang for their buck so to speak. If you can promise more coverage than XYZ's publications are getting then they might gamble with you. My father always told me, "If you are not making it in business...always look like you are! Simply put.....Nobody wants to do business with you if your place of business is dirty or trashy looking. When people enter a business and it's clean and shiny, people WILL spend money and keep coming back.

You are right about new people being prime for the plucking but with the downward turn of the economy....How many new people are moving to town? Around here, there are a ton of people moving away and not moving into town. Alot of the home sales going on right now are just people moving around in town because it's a buyer's market. Of course, I'm in a small town but larger towns could be different.

Your publishers shold help you with content but their taste might not suit your clients tastes. Just something to think about.

Fear is a very substantial motivating factor. Fear of the unknown is what causes most people to work for the other person. Confindence is what defeats fear!

Overconfidence can be a bad thing. No sense in pointing your finger in people's face and saying you should have treated me better. I prefer to do it quietly and never let them see the fear in my eyes.

The worst thing about being in business for yourself is not the economy as it is now although it sure doesn't help. The workforce or the lack of qualified people to do a job. Everybody wants a paycheck but few want to perform the job. Americans are lazy by nature because the government has made it too easy not to work. That's another subject that I wold rather not work myself up into a frenzy about that!

 

[strongchick]

I'm not trying to grill you with all of these questions but a couple of more things.

Have you thought about the second half the first question I asked you? If not, check out the alternatives.


I have looked at other publishers that license their copy...most of them are magazines, though. They have higher fees, unfortunately, but then, they have more options. If need be, I could move to magazine style....by then, if I have to change, then I would conceivably be in a financial position with enough of a customer base to do so.



It's hard to go to the bank looking for money with only a customer base for collateral. I'm not trying to come across sideways or anything but although a great customer base will surely be a plus, a bank wants something tangible they can put their hands off in case you go into default. I know equity and collateral are two different things but there might be a time when you need a cash infusion. If you own a house and have equity in it, you might think about a line of credit against your house. Even if you don't need the extra money, a line of credit comes in very handy. Just don't get carried away with line of credit though because it does have to be paid back. I've seen people get in trouble with lines of credit.


Actually, the goal of having a business with 'equity' is so that I can feel psychologically comfortable. Repeat business, a tangible such as a publication with a couple of writers (potentially), is better than say, taking a job where if I leave it I have absolutely nothing. In choosing this business, I looked for something I could build and either sell, or handover to be run by someone else, so that I can start additional businesses or add territories.
Ideally, I'd prefer a factory or a company with equipment, but I don't have that kind of money or expertise. Insurance business would be another option, but it just isn't interesting, and requires licensing and expertise beyond what I feel I want to invest. On the other hand, financial services such as insurance have significant residual income...but I digress...



A customer base does look good to a potential buyer but when businesses change hands between buyer/seller, a part of that base or alot of that base is going to leave because that relationship you had with those business owners will no longer be the same. Having ad contracts with customers does help this situation out greatly if you can get the owners to commit to something like that. You can sell contracts/leases although I don't know how many pennies on the dollar they would bring.



I worked as a business broker briefly (I quit for a salaried job) and yes, valuating such a business is difficult. Even if my newspaper has definite customer base with contracts, those contracts end....however...an established name and established base goes a long way...I plan to convince customers, if possible, in a long term commitment, and pay as much in advance for say a years worth of advertising as possible, because print advertising takes a while to turn into paying customers walking through say, a retailer's doors. For ads to be effective, a long term cumulative approach is necessary.



Small business owners always want more business but a smart business owner will always have an advertising budget.
Convincing them to spend more than they are already spending is always fly in the ointment. Now, convincing them to spend their dollars more wisely, they will always listen. Everybody wants more bang for their buck so to speak. If you can promise more coverage than XYZ's publications are getting then they might gamble with you. My father always told me, "If you are not making it in business...always look like you are! Simply put.....Nobody wants to do business with you if your place of business is dirty or trashy looking. When people enter a business and it's clean and shiny, people WILL spend money and keep coming back.


The gamble, bottom line, is this: "my publication will target people who haven't made up their mind yet about which of your competitors to go to. It may as well be your business...." ...as I hand them the pen.

You are right about new people being prime for the plucking but with the downward turn of the economy....How many new people are moving to town? Around here, there are a ton of people moving away and not moving into town. Alot of the home sales going on right now are just people moving around in town because it's a buyer's market. Of course, I'm in a small town but larger towns could be different.


I live in a very large city. It is constantly changing...condos are going up everywhere....it hasn't stopped yet, even with the recession. I have to walk on the street sometimes to avoid construction machinery.


Your publishers shold help you with content but their taste might not suit your clients tastes. Just something to think about.


yeah. Which is why I'm glad I'll be able to choose which articles appear. I particularly favor a feature article with paid advertiser in say, an 'advertorial', as you suggested. Fitness mags have made a science of this technique!!!!


Fear is a very substantial motivating factor. Fear of the unknown is what causes most people to work for the other person. Confindence is what defeats fear!


I am confident that I should not be working for someone else!


Overconfidence can be a bad thing. No sense in pointing your finger in people's face and saying you should have treated me better. I prefer to do it quietly and never let them see the fear in my eyes.


That is the classy method.


The worst thing about being in business for yourself is not the economy as it is now although it sure doesn't help. The workforce or the lack of qualified people to do a job. Everybody wants a paycheck but few want to perform the job. Americans are lazy by nature because the government has made it too easy not to work. That's another subject that I wold rather not work myself up into a frenzy about that!

Yes! People like me, who are actually talented and hard working (at least in my own mirror, heehee), are the ones who voluntarily leave the labor pool!


Thought provoking questions....just what I need to continue with resolve and conviction. VERY MUCH APPRECIATED, and why I come to Elite....

Thank you!

 

[HumorMe]

You are welcome. I hope I have shed at least a little light on your situation. I'm going to ramble a little so if I stray please excuse me. I've always lived in a small town so everybody's opinion differs accordingly where they live be it a small town or a large one. It's hard to do anything in my town without it being broadcasted to everybody. Some people even know things that haven't even happened yet! LOL! Larger towns do have their own special qualities when it comes to increasing your own business income. It's a more target rich enviroment! You could saturate my town in probably 2 days. One great business asset is becoming a member of the local Chamber of Commerce. You would be surprised to find out how many new incoming people use this as a tool to find out what businesses to deal with. If your company is a member then the COC will hand out that information freely. The most valuable advertisement I have is word of mouth. This can be good and bad. If I screw up something, 20 people are going to know about it. If I don't screw up anything then 2 people will know about it.(Me and the customer) I have 10 employees and they are about like children. They only time they think of me is when payday has passed and they are out of money. I feel like finance company but one that never collects interest! I try hard to teach them the value of money but it's like pissing in the wind. I have to question myself about some of them but it always leads me back to the statement a business friend once told me. He said, "You can either put up with their shit or put up with somebody elses!" Makes a lot of sense to me and will to you if you ever become an employer. Taxes are another thorn in my side! Another subject but I will not go there. All I will say is the small business owner is taxed to the hilt. The government has a tax for everything and if they don't....they will just make one up to cover that too!

The worst thing a new start-up company can come in contact with is expanding too fast. Cash flow can play a major player in the demise of rapidly expanding businesses without the leverage to access needed cash. Get your client base to a manageable level first to cover your expenses and also to put a little cash in your own pocket then go to the next level. Make sure you have good line on what things are going to cost and always and I mean always have a miscellaneous account on your spreadsheet to cover the unexpected! The unexpected is always expected! When you have extra money put it into something that can easily be converted to cash at the drop of a hat. The hat drops often too!

When you get into a better cash position, hire a CPA to do your monthly, quarterly and estimated taxes. An accountant will never save you more money than a CPA. Write off anything that could possibly be considered as a business expense(This is one of the pros about being self-employed)

Remember, if you want to take a day off......your business will take a day off too! If you're not working, you're not making money. Everybody needs days off though!

Good luck! Stay focused!

 

[Test boy]

I really hope this works for you. getting a new business going is normally a Herculean task that gets better every month until things are in full gear in 1-2 years.