Good stuff...great to read your responses.
A few more Q's:
- Investors? Willing to entertain investors? That changes a bunch of "stuff". The Securities and Exchange folks need looking after.
I had another business idea that I was looking for investors for via craigslist post(pretty funny but I had a good amount of people interested and might move forward which is crazy to me). But haven't thought about investors in our current business which is a good idea (one of the partners of the company we are basically mirroring has an 'investor' type partner in the business). We never saw a need to have investor since we have the funds needed to keep the ball rolling hmm..
- Exit strategy. Another trite but true saying in econ/business is that you form a company to sell it. Prepare an exit strategy and organize the company around what potential buyers will be looking for as they do their due diligence. I have a check list should you need it.
We have thought about this also. If someone was wanting to purchase us outright. I am definitely interested in this check list. Let me know best way to contact you if you would care to share.
- Five Year Plan. There are some really good spreadsheets available that help you chart your path, EBITDA, etc. If you haven't done one, you guys should.
Five year plans are scary since who knows how long I have left on this earth but definitely understand they are a must have. Will look into the spreadsheets, maybe you have one personally that you have used?
- In your ample spare time (
) take an accounting class - basic stuff.
You reads my mind on this one. When I was finishing up school I was thinking about minoring in business or accounting since I had completed all the math and more difficult courses already. Need to think about taking some courses even tho I hated school.
As you can tell, I love this area of business. Sincerely, best of luck. Very exciting. My daughter, 25, is starting along the same arc in a different field.