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Registered
Join Date: Apr 2002
Location: Santa Clara, CA
Posts: 5,668
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Without commenting on these 3 specific options, I will share some general truisms.
- you sound underfunded. most any new business will lose money for the first 2-3 years. That means you take out nothing, and continue to put your cash into it, while working full time at the business. You need 3 years personal living expenses, plus the cash to fund the business for 3 years.
- being an absentee manager is general a plan for failure. Unless you are buying an established business that is already owned and operated profitably by an absentee manager, forget it.
- you need to decide if you are adequately commited and prepared to do this. to be succesfull at most businesses, you need to put in your full time effort. that means 7 days a week, and forget about 8 hour days. You cannot have a full time job on the side.
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Chuck Moreland - elephantracing.com - vonnen.com
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