do you agree with this plan of starting a business.?
Which one of the two paths do you think would be better for preparing for starting a business
1# I would get a job that pays a wage of $8.00 an hour and save my money for my small business.
I live with my dad so i don’t have to worry about paying bills and he has plenty of cars i can drive and food and etc.
So anyway I would work 5 day a week bringing home $64 dollars a day, making $320.00 , bringing home $1280.00 a month. I would spend the $280 and save the $1000 into my saving account. I f i keep saving up money ( and my goal is to save money up for 4 years) , i would have $12,000.00 a year adding up to $48,000,00 in 4 years.
While i’m saving up money i would get a credit card so i can get a good credit score ( if you have a good credit score , it will increase your chances of getting business loan and investor etc). I would start small and buy a few outfits with the credit card and some food i think for about 6 months. Then i would get a car ( I know i said my dad has alot of cars, like 6 cars but i really need to buy something big with the credit card in order to build up my score) and pay it off , doing this for a year of paying the car bill should build up my credit score if i pay on time)
somewhere in the 4 years of saving money and building up credit score. I will think and create new ideas for my business and creating a effective business plan.when my 4 years are up i will start on my business.
thats the first plan i have , now here is the second one.
2# I would join the military ( navy or air force) and use the benefits to my advantage.
I don’t have to worry about housing and etc if i live on base, I would save up my money has was described up top of the first plan and do the same thing i stated above with building up my credit score.
I would use the benefits and opportunities to go into college and get the extra pay and stuff. i could use the college benefits to learn managment or business to help me not only do well in business but to also increase my chances of getting a business loan and bank loan etc etc( 48,000 dollars saved up + good credit score+ business degree or whatever kind it is = bigger loan and better chances).
In the military the will teach you how to be a leader and such and such.
So what do you think ?
Do you like 1# or 2#?
tell me what would you do differently .?
my dad did say he would help and provide money for me to community college only .
But i don’t really want to rely on him because i need to do this myself and don’t want to be to much of a burden to him, The economy is bad and i don’t want to draw to much money from him.
I understand that joining the military maybe a risk but there are great benefit that i would love to have, college being paid for, Health care, dental etc.
Nonetheless , my dad can help me anyway can.
Tags: agree, Air Force, Bringing Home, business, Business Help, Business Investor, Business Loan, Business Plan, Cars, credit card, credit score, Dad, Job 8, Military Navy, Plan, saving money, small business, Start Business, Starting, starting a business, Starting Business, this, Two Paths
2 Comments at "do you agree with this plan of starting a business.?"
#1. DO NOT JOIN THE MILITARY.
#2. See #1
At least not until the issue with Iraq settles down. If you sign up for a certain area of expertise and for some reason you fail the training or if it turns out they no longer need anyone with that experience, you can be assigned a duty that has no relation to what you wanted.
As for #1, you are forgetting that you have money deducted for taxes, social security, medicate, etc. so the amount you get is lless that what you earn. Count on 25=35% less. Try to work for some business where you can do some clerical work, your chances of advancement is better.
Question, if you dad is somewhat well off, can he fund your way thru college or community college?
Try to go to a 4-year university. There’s financial aid to help you pay for everything (you might not even accumulate that much debt).
The skills you learn will help you run your business, figure out what you’re good at, and most importantly, you’ll meet a lot of people that will be your network for helping you with your business in the future (customers, employees, advice givers, etc.)
You might not end up finishing college (because you’ll want to start your business), but at least try it. At the very least you’ll meet a lot of people that can help you now and in the future. Plus it will expose you to new ways of thinking – stuff you could have never imagined.
(And study engineering, that way you’re guaranteed a great salary out of college no matter how bad the economy is and you’ll have the skills it takes to become an inventor, or the be skillful enough with numbers to run your company very well and efficiently.)