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ItzaMe ItzaMe is offline
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Join Date: Mar 2015
Location: The Land
Posts: 1,364
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Originally Posted by Seahawk View Post
A few addition questions to add to the list:

Is the salary from the 9 to 5 essential?

Not essential, I basically got the job to have more funds to expand the business but we aren't in need of much funds right now since profit is helping us grow. Also my dad told me why would I leave home when I have a good job, so that's another reason I got the 8 to 5, to give him some peace knowing I'm not being a bum.

If you went full time with the business gig, would that put you in a financial bind?

No sir. I will put more time into the car stuff I used to do and have been thinking about getting into real estate.

Can you part-time the engineering job?

I will ask about this, but not likely.

How is the business structured? LLC, C/S Corp? Roles and responsibilities defined? If you are hiring people who does your employee manual, other HR related issues?

LLC. The roles and responsibilities are defined but shared. It's a very new business so still figuring a few things out.

Accounting structure...most small start-ups get on rocky shoals here. Line of credit? Are you protected?

We have an accountant/CPA

Lawyer? We use a CPA with a law degree - saves a lot of money.

I ask these questions because running a business is hard and you need to be hands on...nothing fails more than a business with a part-time owner. You have to drive the bus.

I understand, my buddy is full time, my brother is also besides two days out the week, and I'm part time while taking care of other aspects of the business. There isn't much to do once trucks arrive, items are inventoried and organized. That's when we need to think about growth and advertising.

If your brother and buddy are at the helm and you trust them, that is a different story. However, success and money change people. Trust but verify.

I understand but they are the most trust worthy I know. Time will tell.

Sounds like exciting stuff but get hyper organized if you have not already done so.

Thanks for the input and questions.
see above
Old 04-03-2019, 09:34 AM
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