The non-geek business: experiences?

3 posts
I'm curious about how people started their businesses, what was required of them, how it all went, the works.

I'm curious because I want to help my parents who look like the're gonna be stuck in the jobs (which they don't like or jobs that simply pay crap) for next 25 years of their lives (or more). With some good financial things happening now, I think it would be a right time for them to do something, and I'm hoping that from this thread I can learn some good and bad things about peoples' expereiences. =)
first thing to learn: 90% of new businesses fail, either in the first year or before year 3, I don't remember the stat offhand. Most businesses with an untested entrepreneurial team are financed from friends, family, and fools, so unless they're willing to risk quite a bit I would advise them to keep working for Corp, Co.

You might get some better responses if you said what they do now, and what kind of business they might want to start.
When I started my business, I went it alone for the first year.

In retrospect, it may have been the worst decision I made. Having another person around (even if only part time) really focusses your mind into your business activities. It also helps bring in new ideas and ways of looking at things, and gives you a sounding board that you can bounce ideas off. Lastly it really helps ease the sense of isolation you get when you start up on your own.

I was really nervous when I took on my first employee, but within a week I realised that she was enabling me to do far more business than I could handle on my own. Now I'm able to offload the more routine activites and concentrate on developing new business.
3 posts