As I am currently trying to start my own business, while working full time for another one, I had to figure out how to run my business from remote location and with limited availability, all the while creating the impression of a fairly serious full-time business. At the same time, since I am financing this business from my savings, solution had to be cheap, scale-able (both up and down) and semi-permanent (no long contracts). To do so, I again leaned heavily on the modern technology. This is how I did it:

After well-documented struggle to get my Facebook Advertising account going, I am finally able to advertise and thus, share my first impressions...

First, before we talk about how to set-up web page for your new company, let me say that not every company has to have a web page. Depending on your business type, you may be just fine by having only a Facebook page, or even no web page at all. Or, maybe your trade organization offers a shared resource page?

Presuming that you must have one, here are some things to consider (if you are starting a creative design company, you can skip this article - you need more serious web page, and if you do, you likely know how to do it):

Not every company needs a logo, but those that do, should spend some time and make it count the first time around. Re-branding once your company has become successful can be very expensive and painful. Here are some things to consider when designing your logo:

Make it stand out: A good logo pokes you in the eye and yet you feel no pain. There is a fine line between obnoxious and catchy; try not to cross it. To verify if your logo actually stands out, create a small experiment: Make a page with approximately 30 logos arranged evenly and with similar proportions, make sure to add your logo. Then, invite a few friends to find your logo and see how long it takes them. If some need more than 2 seconds to spot it, you lose. Ask them to decide which logo sticks out the most and try to be more like that logo.

Click the image below, take 2 seconds and decide which logo wins... 
P.S. My three winners are Koolaid, Subway and Mercedes.  

Yesterday, I offered A) to graciously take 50% of the company for $1 in exchange for my continued patronage; B) to take a $50K "advanced-severance" package and commit to stay for 3 additional years at my current pay; C) an extended (3 month) notice promise in exchange for a modest severance... 

I received two offers back (as he wants me to take on more risk): A) a counteroffer to buy 50% of the company ($750K) for $75K down, then an interest free loan for the remainder, payable through a major pay cut and company profits; B) a 45K severance package in the case the company is sold (expected to be done in 5 years), some incentives to build the business even more (maybe $50k or so) and the purchase of 10% of the business at 50% off over 5 years.

I went home, and after a sleepless night, decided to counteroffer with: I quit the job and take 20K severance + the current company hires my new company at roughly the same rate they're paying me now + I buy 10% of the company for $40K (steep discount for my efforts) + I have the option to purchase assets of the current company in 5 years for a combination of $150K in cash, loan to bring my ownership to 70%, and 30% of the new company shares (for the current company owner).

This way I build my own company first and get ready for the possible purchase of the old company. 

To be continued...
April 12 2012 - After waiting for almost 2 years to negotiate conditions under which I can buy into my current company and become a partner, I've finally realized that my boss will never be as generous as I need him to be, and that I will never be willing to take as much risk and personal/financial commitment as he needs me to.

If I ever bothered to look deep enough, I should have realized this a long time ago, but better late than never. Truth is - facing reality is SCARY!

I may be slow to comprehend, but once I get it, I move fast. Within 2 hours from the moment of my revelation, I registered a business name. One hour later a domain name, skeleton web page and email accounts were up and running. I will provide details and advice in my next few posts, but if you're looking to start your own business, just get moving. Now.

All I have so far is a general idea of how I think this all might work:


    About Me

    Giving up a safe job and six-figure salary for the uncertain path of entrepreneurship! Read to see if I make it.

    If this is your first time visiting, please read my story

    Status Update

    Expenditures: $7011.57
    Revenues: $3000.00
    Profit/Loss: -$4011.57
    Started: Apr/12/12
    Last Update: May/12/2013


    Cool Link Alert!
    How To



    May 2013
    September 2012
    August 2012
    June 2012
    May 2012
    April 2012