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Hello All,
I'm glad to have found this forum. I had been hoping a forum like this would have existed and was glad when I stumbled across it just recently.
I'm 26 and live in Central Iowa. I've always been entrepreneurial at heart. I have started two businesses, however I ended both of these businesses--they would be still around but until recently I've had it in my head that if I couldn't make a living off my business then it was better to hold a day job, so I ended them. Now I'm realizing there is nothing wrong with allowing a business to start slowly and flourish over time--in fact I now realize that this is a part of business called growth.
I feeling a real tugging at my heart to follow my dreams of entrepreneurial aspirations. I love business, I love being creative. I had the pleasure of managing a team of eight for 1.5 years at a large organization and found that it was a true pleasure. I loved being able to inspire my employees and having the authority to make policies to improve their lives. We worked and treated each other like family. During the mandatory yearly evals employees would always state their goals for the following year would be to enjoy work as much as they did in the previous year.
I believe all great entrepreneurs have one thing they are great at: Richard Branson is great with marketing and PR and leading his employees, Donald Trump is a wise business man and quite the cut throat, Bill Gates understood what would sell and aggressively worked to produce products that would fill an under served market (then of course created a strong hold on the market as it became common place). If I did become a great entrepreneur I believe that my strength would be in my ability to lead and inspire others--being able to develop people and teach them to find their confidence and in turn gain their loyalty and hard work.
I have a few ideas of businesses, most of them are weak. But the one that really continues to sneak it's way back into my thoughts is that of a business start up and investment company. Basically investing in, buying and starting small companies and growing them into thriving organizations.
I would pool up whatever money I could, maybe 7500 and use this to invest into small start ups and would only ask for a share of the organization and my money returned, possibly with interest. As my investment company's portfolio continues it will be able to afford additional investing into these owned start ups. I would continue to reinvest and grow these start ups into larger and more profitable companies. If memory serves, this is similar to what Warren Buffet has done.
Anyways, I look forward to continue reading through the forums and gaining what knowledge and insight I can.
As only a dreamer now, I have a question for those who have found successes in pursuing their entrepreneurial dreams: when should I begin this business? When will I know it's the right time to pull the trigger? Do I need a good lawyer and accountant during the infancy of my business or are these people something I can avoid at first? What words of encouragement can you provide me? How did you make your start?
Thanks
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Originally Posted by 4business
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