If you were/when you have started a company... - GoFuckYourself.com

Mike Semen · 10-05-2006, 08:30 AM

How many months' operating costs would you want in the bank before you would start a company?

More than 6 months?

NickPapageorgio · 10-05-2006, 08:32 AM

I would say this is sort of one of those, "how much could I make from a 50k a day TGP" type questions. It depends really. What are you selling? What is the projected client base? What is the demand in the area for said product? What already established competition for your product is in the area?

There are alot of variables that could help or hinder when OR IF your business "takes flight".

NickPapageorgio · 10-05-2006, 08:33 AM

Doh!!

So I would say, yes, without knowing any variables more than 6 months is a fair statement.

Mike Semen · 10-05-2006, 08:48 AM

Lol. Thanks Nick.

I say this because I have just been told the company I work for had six months worth of cash in the bank 5 months ago when I sterted there. We are in a very aggressive, crowded market which is, however expanding.

It is a technology solution with a reasonably long (1-2 months at least) sales cycle.

Think that answers my question as well as yours.

topshelfdesign · 10-05-2006, 08:53 AM

I started out with nothing, ive probably made $4k so far this year

luckie34 · 10-05-2006, 09:14 AM

Can I ask...since you started with nothing how did you make money? Doing what? I want my own website which is why I ask.

Quote:

Originally Posted by topshelfdesign

I started out with nothing, ive probably made $4k so far this year

Mike Semen · 10-05-2006, 09:36 AM

Quote:

Originally Posted by luckie34

Can I ask...since you started with nothing how did you make money? Doing what? I want my own website which is why I ask.

Read the boards, do your research. Spend money on hosting. Plan. Work. You will make money.

NickPapageorgio · 10-05-2006, 09:43 AM

Quote:

Originally Posted by luckie34

Can I ask...since you started with nothing how did you make money? Doing what? I want my own website which is why I ask.

Check out www.cozyacademy.org and read the articles and tutorials there. It can be a big help for you. I would suggest also, focus your attention in one area when you get started. Don't get overwhelmed by the amount of different things there are that could potentially be money makers in this industry. Figure out what best suits you, and hit it with both fists.

Also, yeah I would say more than 6 months funding would be good for what you described your company as being involved in. Again though, that all depends on how many good clients you nail down in that first 6 months.

luckie34 · 10-05-2006, 10:06 AM

Unfortunately I know nothing about hosting Mr. Semen. But thanks for the advice on telling me how to read. I know beginnners can be annoying but don't post if you dont' have any good links to try or better advice than to "read the fucking manual".

tehHinjew · 10-05-2006, 10:17 AM

750000$.

Mike Semen · 10-05-2006, 11:40 AM

Quote:

Originally Posted by luckie34

Unfortunately I know nothing about hosting Mr. Semen. But thanks for the advice on telling me how to read. I know beginnners can be annoying but don't post if you dont' have any good links to try or better advice than to "read the fucking manual".

Nice reply. I see you're going to fit right in.

baddog · 10-05-2006, 11:41 AM

Quote:

Originally Posted by Mike Semen

Nice reply. I see you're going to fit right in.

gfx3 · 10-05-2006, 11:44 AM

I think if it's for an online business you need at least enough to bridge a period of 18 months. You should also have an idea when your company is going to change from a deficit return to a break even. Ask your accountant I would say, he will be the best one to fill you in on your question.

gfx3 · 10-05-2006, 11:46 AM

Quote:

Originally Posted by Mike Semen

Nice reply. I see you're going to fit right in.

Have some mercy

tony286 · 10-05-2006, 11:47 AM

We kept working our day jobs for the first year in business.

10-05-2006, 08:30 AM	#1
Mike Semen Confirmed User Join Date: Dec 2001 Location: London Town Posts: 2,924	If you were/when you have started a company... How many months' operating costs would you want in the bank before you would start a company? More than 6 months? __________________ ICQ 1454 81 522 \|

10-05-2006, 08:32 AM	#2
NickPapageorgio Confirmed User Join Date: Apr 2004 Location: NC Posts: 8,323	I would say this is sort of one of those, "how much could I make from a 50k a day TGP" type questions. It depends really. What are you selling? What is the projected client base? What is the demand in the area for said product? What already established competition for your product is in the area? There are alot of variables that could help or hinder when OR IF your business "takes flight". __________________

10-05-2006, 08:33 AM	#3
NickPapageorgio Confirmed User Join Date: Apr 2004 Location: NC Posts: 8,323	Doh!! So I would say, yes, without knowing any variables more than 6 months is a fair statement. __________________

10-05-2006, 08:48 AM	#4
Mike Semen Confirmed User Join Date: Dec 2001 Location: London Town Posts: 2,924	Lol. Thanks Nick. I say this because I have just been told the company I work for had six months worth of cash in the bank 5 months ago when I sterted there. We are in a very aggressive, crowded market which is, however expanding. It is a technology solution with a reasonably long (1-2 months at least) sales cycle. Think that answers my question as well as yours. __________________ ICQ 1454 81 522 \|

10-05-2006, 10:17 AM	#10
tehHinjew Confirmed User Join Date: Sep 2006 Location: MTL Posts: 5,755	750000$. __________________ Hot Porn Wanna trade? email me at wanker (@) wanknation dot com

10-05-2006, 08:53 AM	#5
topshelfdesign Confirmed User Join Date: Aug 2006 Posts: 930	I started out with nothing, ive probably made $4k so far this year

10-05-2006, 10:06 AM	#9
luckie34 Registered User Join Date: Oct 2006 Location: In America Posts: 6	Unfortunately I know nothing about hosting Mr. Semen. But thanks for the advice on telling me how to read. I know beginnners can be annoying but don't post if you dont' have any good links to try or better advice than to "read the fucking manual".

10-05-2006, 11:44 AM	#13
gfx3 Confirmed User Join Date: Nov 2005 Posts: 1,685	I think if it's for an online business you need at least enough to bridge a period of 18 months. You should also have an idea when your company is going to change from a deficit return to a break even. Ask your accountant I would say, he will be the best one to fill you in on your question. __________________

10-05-2006, 11:47 AM	#15
tony286 lurker Industry Role: Join Date: Aug 2002 Location: atlanta Posts: 57,021	We kept working our day jobs for the first year in business.