ATTN: Business owners

[Barking_Spidre]

Not sure if this is in the right forum, mods can move it if it'll get more attention else where. :thumbsup:

Just a couple questions/inquiries for you business owners on beyond. I've been playing with the idea of starting my own business in a couple years, as I'm only 22, turning 23 in november, and have lots to learn about what I want to do. I don't want to be inexperienced when I get into my own work, I'm very proud about the work I do.

Guess just a little more information, I want to start a renovation type business. I'm a bluebook 2nd year carpenter, and I've done carpentry for about 2 years, mostly cabinet install (New Alberta Childrens Hospital for 14 months) then I've done some framing, about 4 months of it. Then I was doing kitchen cabinetry install for home builders for a couple months. I can also do full irrigation systems from scratch (doing it for 2 years now), so I can always add that into the list of stuff I'm proficient at. I plan on switching from landscaping to a renovation company, hopefully, as my current job, so I can learn more of the "trade" ie: drywall, tiling, plumbing etc.

Anyways, enough of the life story.

Questions:
What's your business?
How did you get started?
How did/do you advertise?
Would you recommend getting a business degree or are there courses that would be better suited for a small company?


As for the last question, if it's recommended to get a degree, that's definitely feasible for me, as I'd want to do it right, but if there were some shorter courses I could take that would do the same (who knows lol) might as well go with the shorter route.

Thanks for any help/tips/criticism!

[A790]

What's your business?

I run an online marketing company that focuses on cost-per-sale campaigns and search engine optimization.

How did you get started?

I started doing freelance content work for a few people that were involved with the industry. One of them approached me because the quality of my content was quite good and told me that I should move beyond content and focus on the entire package.

I spent weeks trying to generate some kind of profit and finally pulled it off.

How did/do you advertise?

I actually don't. I can't handle any more clients right now without significantly expanding my operations, and until I do that the last thing I want to do is advertise.

When I was promoting myself I created targeted solutions based on companies and websites I felt were selling themselves short with their revenue generation/SEO and approached them on a 1 on 1 basis. The success rate was around 60%.

Would you recommend getting a business degree or are there courses that would be better suited for a small company?

Hmm... I can't really answer this one. For my industry there was no course that I could have taken to learn how to do what I do, and the general marketing methods/promotional venue's don't really work well either, so I had to learn it all on my own.

Courses I wish I had taken before I dropped out of college though were accounting related. If I could do my own accounting right now I'd probably save some change, but oh well. :)

[Bimmer88]

What's your business?

Retailing automotive parts online

How did you get started?

Really I wasn't prepared I just decided when I woke up one day that I want to start a company! But you should really do your research, get a tax consultant to get all your finances in place.

Mainly like buy software such as Quickbooks or Simply Accounting and learn to use them to keep track of your finances and books.

Then of course you need a business license, documents of incorpration etc...

And you will need to read up on the laws and regulations around home reno's.

If you need funding a great place to start is the Canadian Small Business Finances Centre.

How did/do you advertise?

Since we are an online based company we advertise with Google, Yahoo, Forums, Some Local Ads, and most importantly word of mouth. You will find that you spend A LOT of advertising dollars on advertising unless if you want to go the route of word of advertising.

Would you recommend getting a business degree or are there courses that would be better suited for a small company?

Umm I have no degree's or any sort of diploma's regarding about business. But I'm currently enrolled at Mount Royal for the General Admin program, and switching over to the 4 year applied degree.

Let me tell you one thing! School helps you to a certain degree, you don't really need it though it DOES come in handy at times. But I believe that you will learn more starting a company yourself. Which they do not teach you that in school.

Goodluck with your business! I may have to contact you in a few years if it takes off ;)

[Jlude]

What's your business?

Structural Detailing/Consultant.

How did you get started?

I wanted a bigger piece of the pie, so I decided to work for myself.

How did/do you advertise?
Most of my work comes from the older guys I've worked with who don't get people sending them jobs, but because they're old now, they don't want to do them, so they get forwarded my information.

As for what I've done... Usually an email, followed by a phone call the next day.

Would you recommend getting a business degree or are there courses that would be better suited for a small company?

As everyone else has said, I would have taken some accounting courses. If you're passionate enough about what you do and genuinely want to succeed, then you'll be prepared for most everything that comes your way.

[Barking_Spidre]

Thanks for the replies, any bit of information helps. The biggest part I am worried about is the accounting, so a course in that will probably help alot.


PS. Thanks for moving the thread, whoever did. :D

[Jason Lange]

What's your business?

Welding and fabrication

How did you get started?

I started my apprenticeship straight out of high school and finished a couple years ago. After my final year of school I opened a small shop building mainly performance car parts and some small residential stuff like gates, fences, handrails etc. I eventually outgrew the shop and looked for a bigger space and went looking for more industrial contracts. Landing some bigger jobs in the new shop allowed me to hire a few employees and take on more work from the clients I currently had aswell as some new ones.

The whole process happened very fast (just a bit over 2 years).

How did/do you advertise?

The only advertising I ever did was on a couple of car forums, the best way that I found to get your name out there was word of mouth by doing a good job for everyone and a good old smile and handshake to the perspective clients.

Would you recommend getting a business degree or are there courses that would be better suited for a small company?

I haven't done any business courses so I can't say for myself but I am sure it couldn't hurt especially on the accounting side of things.

[travis_gillard]

im currently taking small buisness administration and entreprenuership @ MRC its a great course, but really all i want out of this course is a better buisness sense, and am getting it haha, its a really good program and something definatly worth looking into

[Euro838]

Originally posted by Barking_Spidre
Thanks for the replies, any bit of information helps. The biggest part I am worried about is the accounting, so a course in that will probably help alot.


PS. Thanks for moving the thread, whoever did. :D

If it's only bookkeeping and taxes that you are worrying about, then pay an accountant! It's a business expense anyways and you won't have to keep up with current business tax rules and laws. You could just as easily pick up a Dummies book to learn/figure out what the first couple levels of accounting will teach you.

So chances are, one or two accounting courses won't help you that much when it comes to your business.

Most accountants will compile and file your corporate taxes for <$1K. If you want them to do the book keeping, then that's another story but that could be easily done with quickbooks or whatever.

Most of the information you need will be on the CRA website or you could call them directly yourself. They are well staffed now and the information you get will be the most up to date.

[Isaiah]

You appear to be proficient at what you're doing, given your experience in many different facets of the business you are currently in.

My advice, which has worked well for me and other successful business owners that I know, is to consider the following before embarking on any career or business venture:

1. What do you enjoy doing?
2. What are you good at?
3. What components of a career appeal to you? (Travel, sociability, hands-on...)
4. Considering the above, how can you apply your passion and abilities to make money?


In other words, you'll be a lot more successful at doing something that you're passionate about and enjoy doing than something that you're into for the paycheque.

I have worked in many different fields, starting in hospitality, before migrating into real estate, then moving to a career in telecommunications, before finally choosing what I do now. The compensation was very good at all of my previous careers but the satisfaction factor wasn't there.

What's your business?
Import/Wholesale

How did you get started?
After a succession of careers, I purchased an existing business which would allow me to apply my skillsets to maximize profits.

How did/do you advertise?
I have a website, however approximately 1/2 of new business is procured by an account manager and the other 1/2 is referrals. I have invested a lot of effort into growing existing business with current accounts, which has grown the business substantially more than any marketing efforts.

Would you recommend getting a business degree or are there courses that would be better suited for a small company?
Although I certainly know successful business owners who do not posses business degrees, I strongly suggest that you invest the time and effort and I'm sure that it will pay off for you.

I was already over 30 when I purchased my current business, and I decided to go back to school to finish a degree that I had started 12 years earlier. I did not know at the time that credits expire after 7 years on unfinished degrees so I had to start over and redo the initial 2 years of my commerce degree. I'm currently in my 3rd year and I can definitely tell you that I have applied many concepts and theories from my business degree to my current business.

Business degrees include components of marketing, finance, economics, accounting, statistics, entrepreneurship, and general management. All of these will provide you with valuable information and analytical tools to examine your own business.

Given that you're still in your early 20's, I would very strongly urge you to consider a business degree if you're seriously considering self-employment. It's better to do it now than decide that you want to do it 10 years from now.