Kiwis bosses who started their own business - Sperg about hatred for your customers, competition, employees. Share ideas, questions, stories related to being a big bidness owner

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cybertoaster said:
I meant the advice about going into a company, learning how its done and then doing your own thing and becoming a competitor, did you do it? how did it go?
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I did this and it worked out just as advertised. Maybe not like starting from the bottom bottom. But close enough.

You don't even have to think about it in the way that you want to compete. You are learning at the expenses of someone else. You ride the highs and you don't suffer the blows from the lows. Whichever way it goes, you learn along the way.

You'll make smarter decisions and avoid costly mistake just by riding coattail with someone else first.

It has nothing to do with trying to undermine your employer with your own version of their offer. It's more so about everything that comes in between an idea and a company able to deliver and administrate properly, grow and sustain the growth.
cybertoaster said:
With tariffs this model might end since it was only thanks to dropshipping and white label stuff from china that most of these companies could exist.
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I don't believe so.

Think about anything you buy in a supermarket. Margins are insane even if you don't factor in distributors. A regular knife you buy $20 in Walmart probably goes something like this:

Landed cost $4
Sold to distributor for $5
Sold to Walmart for $6

The scam has been everywhere the whole time. It's just that people are cutting the middle man and pay so much in ads they raised prices.

Whatever happens, the market will adapt.
 
cybertoaster said:
I meant the advice about going into a company, learning how its done and then doing your own thing and becoming a competitor, did you do it? how did it go?
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Yes, I just said I dd. It started as side gigs on the weekends asking the boss if it was OK to borrow equipment after I had learned enough to handle fieldwork solo.

As I said before I believe you can do this exact same thing and not go to war with your former employers. Just last week I did a job I know they would never do just based on logistics and not working the hours I do. After the job was done I advised the client over to them for their expertise in getting a better more suitable and reliable unit as I avoid new installation/delivery. Told them to mention my name and tell them I said "Hello" to the boss for me. As far as I know they never sent anyone my way but, they treated me well and had good ethics; no reason not to return the favor for teaching me a trade there really are no good schools or means to learn.

Other competitors I found to be what we would all most likely be unethical/unskilled I have done all kinds of things to undercut them, drive them out of my industry. I often simply advise the client they are most likely not licensed and qualified. I've chased off in person and just over the phone quite a few cocksuckers larping as legit tradesmen.

There are no courses for how to do all of what I do. I can teach you how to do the most basic of basic things in an afternoon, I cannot teach you how to handle every situation I will be called for. Realistically that would be a 40 hour a week 2 year apprenticeship. The learning curve is fucking brutal, to this day I will often attempt something I have never done before just to see if it's possible even at a rate far below my hourly base. I either conclude it can't be done without hundreds or possibly thousands of dollars in parts/tools I will not invest in only to use once a year maybe or the next one I will charge much higher as it's a job and no longer a learning experience.


cybertoaster said:
The amount of people with the latest most expensive iphone model, wearing yeezys and other artificially expensive apparel I seen stepping out of a rusted dodge neon or some other shitbox its insane. Same with people buying $100k trucks while they have missing teeth...
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I think we have agreed this called acting like a "nigger" and it's not just exclusive to niggers.
 
I don't get this part, can you elaborate?
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In simple terms. treat your customer base as people. NOT a fucking commodity. NOT the burn and churn mentality of how things are done here in Silicon Valley.

Not this god damn market spindoctoring of a Fucking product that was barely better (if any) than last years model.

TREAT... PEOPLE... RIGHT.

And as stated before I made serious money in the past 5 years by NOT gouging my customer base.

I don't gouge my customer base. I don't have to and because of this I've had a serious continous passive income for over 16+ years.

You have no idea on how just being a little nice to someone can pay dividends. I've made some nice connections over the years by not being a dick.

I have saved a lot of money by NOT being a dick.

It's just good o' resource management of your sector of influence as well as just being a decent guy when dealing with people.
 
I'm thinking of going into the farmers market business. I have some average that I'm developing and I have experience baking. I'm not exactly sure how I'm going to get started but I was curious if anyone had experience selling their own goods or operating at small local markets?
 
God's strongest milkman said:
I'm thinking of going into the farmers market business. I have some average that I'm developing and I have experience baking. I'm not exactly sure how I'm going to get started but I was curious if anyone had experience selling their own goods or operating at small local markets?
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I don't have first hand experience with it, but I know it can be quite expensive/difficult depending on what you want.

Do you mean beverage? Baked goods can be quite competitive I imagine, so that's something to consider. If you're facing competition from someone with a commercial kitchen, it might be difficult for you to compete on pricing.

Before you get started, I suggest you go to these markets and see if there is a need for your products, ask the other stands what they pay.

I don't know about the US, but in the EU small markets can be extremely difficult to enter. There is a waitlist and often a parallel market on top of the license fee. You can't sell your spot to an individual, but when you sell your business, the spot comes with it.

Something else you could do to test the market is just to show up with free sample and roam around, see if people bite. If you bring something home, you probably should reconsider.
 
Hi Kiwis, my business repairs industrial dumpsters . I currently have four employees and three service trucks. Does anyone have experience with betting on service contracts with US cities or the federal government? I'm hitting my profit potentials as an on-call repair company and would like to take the next steps forward.
 
Ok so to put Chris Chan's famous shirt back into production would cost about $10 a piece minimum.
 
Hello kiwis I have some questions about starting an LLC solely for asset and privacy protection. I would be forming a single-member Wyoming LLC and using a registered agent so its not my personal information on the public paperwork.
My questions are thus:
How exactly does the pass-through taxation work? If my LLC does not generate income I don't have to pay any taxes for the LLC, correct? My personal income from outside the LLC is still regarded as separate, right?
If I transfer my personal funds into the LLC to make purchases, does that transfer of monies count as "income" for the LLC for tax purposes?
What are the limitations of using assets purchased by the LLC for myself? For example, if the LLC buys a house, say as an investment, am I able to live in the house? Would charging myself rent make a difference?
 
The Stranger said:
I would be forming a single-member Wyoming LLC and using a registered agent so its not my personal information on the public paperwork.
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Ownership is usually publicly listed.
The Stranger said:
If my LLC does not generate income I don't have to pay any taxes for the LLC, correct?
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No. You only don't pay revenue tax.
The Stranger said:
My personal income from outside the LLC is still regarded as separate, right?
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If it is untied to LLC, probably if you are not commitng fraud.
The Stranger said:
If I transfer my personal funds into the LLC to make purchases, does that transfer of monies count as "income" for the LLC for tax purposes?
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You can't do that.
The Stranger said:
What are the limitations of using assets purchased by the LLC for myself?
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You can't use company's assets legally without contract.
The Stranger said:
For example, if the LLC buys a house, say as an investment, am I able to live in the house?
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For free? No.
The Stranger said:
Would charging myself rent make a difference?
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To the tax leeches? No. LLC would have to be registered for rent/property and purchase of house is instantly suspicious since that's not primary activity.
 
Dawdler said:
Good luck explaining that to the IRS
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You act like the IRS is going to stomp on your nuts for using business funds for anything other than staples and printer paper. You don't even know the scope of the hypothetical LLC or what purchases I'm talking about. The simple question was if funding it with personal funds counts as taxable income for the LLC.
 
Fox Girl Enjoyer said:
Just curious for those who have started a business
>How much capital did you start with?
>How did you deal with the lack of income coming in early on?
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Filing with Legalzoom and the state was about $1000. Minimum starting balance for the company bank account was $200 but I've invested much more in myself once the orders rolled in. Still doing a day job unless my operation gets bigger.
 
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