Starting up your own business

This topic was created in the Miscellaneous forum by MoonshineLeo on Sunday, September 3, 2017 and has 17 replies.
So lately i've been thinking i want to open my own Event Business since i went to school for that. Does anyone have their own business? if so any tips?
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Posted by MoonshineLeo
So lately i've been thinking i want to open my own Event Business since i went to school for that. Does anyone have their own business? if so any tips?
So you have starting capital?

Have you accounted for salaries?

What's Event Business? Are you sure you will be better and cheaper to get customers?

If I understood correctly one customer will come and go after the end of an event?

So you will have to have customer search aka constant advertising which is expensive.

I had sold business little over a year ago after 7 years of it. My advice would be 'don't do it'! Work for a good company, get your paycheck and sleep soundly at night.

However you will do what you feel like doing. Good luck!?
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Posted by Gemitati
Posted by MoonshineLeo
So lately i've been thinking i want to open my own Event Business since i went to school for that. Does anyone have their own business? if so any tips?
So you have starting capital?

Have you accounted for salaries?

What's Event Business? Are you sure you will be better and cheaper to get customers?

If I understood correctly one customer will come and go after the end of an event?

So you will have to have customer search aka constant advertising which is expensive.

I had sold business little over a year ago after 7 years of it. My advice would be 'don't do it'! Work for a good company, get your paycheck and sleep soundly at night.

However you will do what you feel like doing. Good luck!?
click to expand
What kind of business did you have? I have a lot of experience i've done over 20 weddings and my friend just started his own and its doing really good in Austin. I know it takes a lot of work behind the scenes so any advice would be awesome.
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Posted by MoonshineLeo
Posted by Gemitati
Posted by MoonshineLeo
So lately i've been thinking i want to open my own Event Business since i went to school for that. Does anyone have their own business? if so any tips?
So you have starting capital?

Have you accounted for salaries?

What's Event Business? Are you sure you will be better and cheaper to get customers?

If I understood correctly one customer will come and go after the end of an event?

So you will have to have customer search aka constant advertising which is expensive.

I had sold business little over a year ago after 7 years of it. My advice would be 'don't do it'! Work for a good company, get your paycheck and sleep soundly at night.

However you will do what you feel like doing. Good luck!?
What kind of business did you have? I have a lot of experience i've done over 20 weddings and my friend just started his own and its doing really good in Austin. I know it takes a lot of work behind the scenes so any advice would be awesome.
click to expand
Are you feeling that you aren't making enough money working for someone else?

Can your friend honestly share with you expenses and maybe profit info?

You might be able to see that extra $ 1k isn't worth all the headache.

My business was retail. We were turning around $ 1M yearly. Paying $ 150K in salaries. Feeding 3 family but outs! Lol

However in your project I can see that if you don't have to put a lot of money into supply and products - different story!

But remember that as soon as you hiring people to work for you - it's ether you paying them well so they value the job - there goes your profit!

Or you pay them min wages and they bringing your business down.

How do you plan on starting?
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Posted by Gemitati
Posted by MoonshineLeo
So lately i've been thinking i want to open my own Event Business since i went to school for that. Does anyone have their own business? if so any tips?
So you have starting capital?

Have you accounted for salaries?

What's Event Business? Are you sure you will be better and cheaper to get customers?

If I understood correctly one customer will come and go after the end of an event?

So you will have to have customer search aka constant advertising which is expensive.

I had sold business little over a year ago after 7 years of it. My advice would be 'don't do it'! Work for a good company, get your paycheck and sleep soundly at night.

However you will do what you feel like doing. Good luck!?
click to expand
This.

And the hours are 24 / 7 ... but some people

thrive on that craziness. o.O


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Posted by Montgomery
Posted by Gemitati
Posted by MoonshineLeo
So lately i've been thinking i want to open my own Event Business since i went to school for that. Does anyone have their own business? if so any tips?
So you have starting capital?

Have you accounted for salaries?

What's Event Business? Are you sure you will be better and cheaper to get customers?

If I understood correctly one customer will come and go after the end of an event?

So you will have to have customer search aka constant advertising which is expensive.

I had sold business little over a year ago after 7 years of it. My advice would be 'don't do it'! Work for a good company, get your paycheck and sleep soundly at night.

However you will do what you feel like doing. Good luck!?
This.

And the hours are 24 / 7 ... but some people

thrive on that craziness. o.O


click to expand
Yeahhh...like Scorpios?
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Posted by Gemitati
Posted by Montgomery
Posted by Gemitati
Posted by MoonshineLeo
So lately i've been thinking i want to open my own Event Business since i went to school for that. Does anyone have their own business? if so any tips?
So you have starting capital?

Have you accounted for salaries?

What's Event Business? Are you sure you will be better and cheaper to get customers?

If I understood correctly one customer will come and go after the end of an event?

So you will have to have customer search aka constant advertising which is expensive.

I had sold business little over a year ago after 7 years of it. My advice would be 'don't do it'! Work for a good company, get your paycheck and sleep soundly at night.

However you will do what you feel like doing. Good luck!?
This.

And the hours are 24 / 7 ... but some people

thrive on that craziness. o.O


Yeahhh...like Scorpios?
click to expand
Laughing-

Check this, Gemi...

https://www.dxpnet.com/opinion/relationships-astrology/3-scorpios-in-rotation--9135600/?checkpg=1


Brave woman.
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Posted by Gemitati
Posted by Montgomery
Posted by Gemitati
Posted by MoonshineLeo
So lately i've been thinking i want to open my own Event Business since i went to school for that. Does anyone have their own business? if so any tips?
So you have starting capital?

Have you accounted for salaries?

What's Event Business? Are you sure you will be better and cheaper to get customers?

If I understood correctly one customer will come and go after the end of an event?

So you will have to have customer search aka constant advertising which is expensive.

I had sold business little over a year ago after 7 years of it. My advice would be 'don't do it'! Work for a good company, get your paycheck and sleep soundly at night.

However you will do what you feel like doing. Good luck!?
This.

And the hours are 24 / 7 ... but some people

thrive on that craziness. o.O


Yeahhh...like Scorpios?
click to expand
haha thats funny that you say that because when i was interning for a wedding company the owner was a Scorpio
details
Posted by Montgomery
Posted by Gemitati
Posted by MoonshineLeo
So lately i've been thinking i want to open my own Event Business since i went to school for that. Does anyone have their own business? if so any tips?
So you have starting capital?

Have you accounted for salaries?

What's Event Business? Are you sure you will be better and cheaper to get customers?

If I understood correctly one customer will come and go after the end of an event?

So you will have to have customer search aka constant advertising which is expensive.

I had sold business little over a year ago after 7 years of it. My advice would be 'don't do it'! Work for a good company, get your paycheck and sleep soundly at night.

However you will do what you feel like doing. Good luck!?
This.

And the hours are 24 / 7 ... but some people

thrive on that craziness. o.O


click to expand
And the wedding hours are soooo long, i was thinking maybe meeting events like cooperate and politic events
details
Posted by MoonshineLeo
Posted by Montgomery
Posted by Gemitati
Posted by MoonshineLeo
So lately i've been thinking i want to open my own Event Business since i went to school for that. Does anyone have their own business? if so any tips?
So you have starting capital?

Have you accounted for salaries?

What's Event Business? Are you sure you will be better and cheaper to get customers?

If I understood correctly one customer will come and go after the end of an event?

So you will have to have customer search aka constant advertising which is expensive.

I had sold business little over a year ago after 7 years of it. My advice would be 'don't do it'! Work for a good company, get your paycheck and sleep soundly at night.

However you will do what you feel like doing. Good luck!?
This.

And the hours are 24 / 7 ... but some people

thrive on that craziness. o.O


And the wedding hours are soooo long, i was thinking maybe meeting events like cooperate and politic events
click to expand
And emotional.

Not a bad idea.


smile





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I'm in the process of starting my own business. I'm trying to get an attorney to help me start a LLC.

My mom is actually a wedding/event planner and has her own business. I'll ask her how she started everything
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Posted by thecrazyariestaurus
I'm in the process of starting my own business. I'm trying to get an attorney to help me start a LLC.

My mom is actually a wedding/event planner and has her own business. I'll ask her how she started everything
OMG that would be awesome! if you want you can direct message me (:
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Posted by MoonshineLeo
So lately i've been thinking i want to open my own Event Business since i went to school for that. Does anyone have their own business? if so any tips?
As in event coordination? Yes, I do. What would you like to know?
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Posted by Chuckcem
Posted by MoonshineLeo
So lately i've been thinking i want to open my own Event Business since i went to school for that. Does anyone have their own business? if so any tips?
As in event coordination? Yes, I do. What would you like to know?
click to expand
AHHH do you have your own event business? just wanna know if its something i can do myself or if i would need staff right off the bat? also what kind of events would you recommend?
details
Posted by MoonshineLeo
Posted by Chuckcem
Posted by MoonshineLeo
So lately i've been thinking i want to open my own Event Business since i went to school for that. Does anyone have their own business? if so any tips?
As in event coordination? Yes, I do. What would you like to know?
AHHH do you have your own event business? just wanna know if its something i can do myself or if i would need staff right off the bat? also what kind of events would you recommend?
click to expand
It is definitely something you can start on your own, but you will need to be driven/hungry. Doing everything on your own can be extremely exhausting, but also necessary in the beginning as you're growing. The primary obstacles you will need to consider are "demand" and "manageable growth".

First you need to make sure you have a client base or potential client base that will meeet the "demand" for what you're offering. You'll need to figure out how much demand there is for what you want to accomplish and what will set you apart from the competition. This will give you longevity and the seeds for future growth. This will also help you determine your overall profitability. A consistent client base will keep your running and the bills paid, but you'll also need to figure out how to grow.

This brings me to the second point, manageable growth. Once you're up and running, you will need to figure out how to duplicate youself and hire people. This can be complicated because you need to first understand your own needs and then be able to explain it to someone else effectively. You also need to find people who will be both good at the job and loyal to you. Additionally you don't want to grow too fast and wind up with more upfront costs than profit. You need to know how much you can spend on employees before bringing people on to work with with you.

The last point I'll make is that in this business, you need to ALWAYS be networking so that you can grow. Continue to meet new people so that you can ensure that your client base will increase. Referrals will be your best friend.

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I just recently decided to sell my business after over 10 years. It was good money but I'm tired of the headaches and got a great new opportunity. I never advertised, it was word of mouth and I grew rapidly. My advice is to go above and beyond for your clients so they rave about you. This is priceless advertising.
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And for event planning, be sure to set up at bridal shows and become a chamber of commerce member. Volunteer on a committee or two. The contacts are valuable, especially in that business.
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