Turkish said:
What kinda business you run and how did u start? Thinking doing the same in the next year or 2. |
In general I provide office supplies and services to other companies. I cannot go into full details. I got into it through another company where I saw the need, the innefficiencies and the profit margins. Basically companies in this field had a lot of old outdate models that were redundant and wasteful. Despite having a fraction of their budget I've managed over past decade to chip away market share and build a decent business. To me it is more about not having a boss and being responsible for all the logistics that I enjoy.
One bit of advice I'd give is don't expect to make money in the first couple years. You have to build client base and establish yourself after various start up costs. Some lean years back in the day when my employees were making more than I was. Turning the corner though is very rewarding seeing the hard work and sacrifice pay off.
The biggest faults I see in other companies is they treat the money differently because it is "not theirs". When you see the affects of decisions you'd be surprised how much you can save by shopping around or doing some work yourself. For example, I've self trained myself to repair our machines. Anytime they break down I take care of it. I'd have to pay someone $100/hour to come out and do it, which is what our competitors do. I also have shopped for raw materials and have saved thousands by finding new suppliers over the years. Most companies just do what they've been doing for decades because it is comfortable.
