TomFromOpenScreensIT

joined 1 year ago
[–] TomFromOpenScreensIT@alien.top 1 points 11 months ago (1 children)

Hooray, now suppose the costs go down from 7K yearly to 100$ yearly, what does he have left, a business that does 5k yearly?

7K server costs is fine, focus on increasing income.

[–] TomFromOpenScreensIT@alien.top 1 points 11 months ago

Unless this has been going on for months on end, you can let the company know you will be delayed on that payment.

Apply for a business credit card, pay your 7K bill and pay it to the bank/credit card in monthly installments over the course of a year, it should amount to roughly 700$ after interests.

Meanwhile focus 2024 on increasing revenue by a shitload.

Good luck.

[–] TomFromOpenScreensIT@alien.top 1 points 11 months ago

1- Cheap calories
2- easy and quick consumption
3- Clean water/hydration
4- good taste

It has its cons for sure, but there's those 4 distinct advantages that make it a reasonable purchase in some situations.

[–] TomFromOpenScreensIT@alien.top 1 points 11 months ago

The existing code is already there, it won't go anywhere.

The servers and the pricing however... Silicon Valley and Wall Street are known to pair up to allow companies to lose money a couple of years in the interest of gaining market share. Who knows how much chatGPT actually costs, how much the free version will be castrated and how much the paid version prices will hike.

[–] TomFromOpenScreensIT@alien.top 1 points 11 months ago (3 children)

- What should my business be about? It should relate personally to you as a founder, so that you have an advantage, so that you don't quit, and so that if we all follow this rule, we will cover a wide share of the industry instead of cannibalize each other.
- What should I name my business? If you can't think of a name, go with the old and tested: INITIALS INDUSTRY LOCATION LLC. e.g: JD Plumbing Miami LLC
- How do I get clients? Ask your contacts if they know anyone who would be interested. Or get a list of contacts and start calling. Or pay for advertising in any platform, preferably Google Search.
- How do I incorporate? In the US, check the website of your State Department for instructions. OR consult with a commercial lawyer OR consult with an accountant OR hire a Registered Agent OR hire a business formation company.
- How do we split ownership? If 2 founders, one can provide funds, the other work, 50/50. Otherwise split based on amount of capital contributed, if a mix of capital investment and work, assign an hourly or monthly value to the work.

All of these are achievable in a week. Especially if you think of it as just your first company.

 

I'm seeing a lot of people asking and overthinking the first stages:

  • What should my business be about?
  • What should I name my business?
  • How do I get clients?
  • How do I incorporate?
  • How do we split ownership?

There are no reasons this step should take more than the actual business, it's true that these tasks lay the foundation of your company, have a lot of impact and are irreversible, but this is true of every business decision you make! you will have this dilemma at every turn of your venture.

To be frank, you will fail, and you will start a second time with more info and make better decisions, but you'll do them fast and better next time.

That said there's two reasons you should aim to solve these challenges fast.

The first is that you don't want to be stuck here, you are not making money at this stage, you are not gaining any experience, getting any clients, it's all costs and wasted time. Just do it, do it fast and get to the meat of the business.

The second is that you face when starting a business, your challenges will be the most common ones, so you are very likely to find resources on how to solve them. When you face challenges specific to your industry, it will be harder, and you will have to ask more specific questions, so don't waste your time-budget on the first steps, this is a marathon, the middle part of running a business is much longer and harder than the start, so save your breath!

Finally, you guys are making the same questions over and over again, they have been answered time and time again, let's see some questions from actual businesses not just people who want to start out.

In lieu of actually solving the questions you may have at the start, I'll post some answers to the common first step questions, feel free to add others in the comments. Remember any of these work, if you don't know which to pick flip a coin, don't get caught in analysis paralysis.

Good luck, Tom

[–] TomFromOpenScreensIT@alien.top 1 points 11 months ago

Yes, it depends on where the company is registered, most big companies are even registered in different states.

Check the terms of conditions which define the entity you signed the contract with and its definition.

Then find out what jurisdiction that is, and find out what municpality it is and what courts correspond to their registered address. Usually these companies are setup in California, in Silicon Valley or nearby. Sometimes they can be in Delaware if they are more shady.

Then check out the website for the court that is in charge of that district, check if they have any teleconferencing options and what its costs are.

Its worth it to send an invoice and intimidation through mail to their registered address, both to see if they pay before court, and to use as evidence in case they don't pay.

[–] TomFromOpenScreensIT@alien.top 1 points 11 months ago (1 children)

It might pay off to speak about the specific industry and hope someone is knowledgeable in the industry rather than speak in metaphors and hope we can guess what the right move is.

[–] TomFromOpenScreensIT@alien.top 1 points 11 months ago

Find someone with an idea, let's call them a client, and then build their vision in exchange for cash.

There you go, now you have a company.

[–] TomFromOpenScreensIT@alien.top 1 points 11 months ago (2 children)

There's small claims court, but probably just sending them an invoice and then a small claims court threat to their Registered Address will get you paid.

[–] TomFromOpenScreensIT@alien.top 1 points 11 months ago

What works for me is I unplug the internet and magically I start working.

[–] TomFromOpenScreensIT@alien.top 1 points 11 months ago (1 children)

Give up. In six months you could have started your business gotten your first client and developed your business.

You still don't even have a business idea? Give up, it's not for you, maybe in the future you will have the experience nececssary and you can try again.

[–] TomFromOpenScreensIT@alien.top 1 points 11 months ago

Solutions is such a snake oil salesman term, especially in the context of having no idea of what to sell to the extent of asking around about untapped markets.

Reminds me of the wikipedia policy that emerged to ban businesses that advertise 'solutions: https://en.wikipedia.org/wiki/Wikipedia:On_Wikipedia,_solutions_are_mixtures_and_nothing_else

view more: next ›