I finally came up with my business idea and I'm going to act on it. Originally, I entertained multiple ideas (including take up the trade and doing solar), but I realized that it realistically it would be tough, and not something I would want to grind at (with the exception of being an electrician and doing solar). So, I did what any good manager or entrepreneur would do and decided to pivot.
I set up my LLC and I've started contacting companies overseas to contract out the creation of my website. I spent many hours drawing on pen and paper what I was looking or and now just need to communicate it. Depending on how things go, I may contact my undergrad and seek their advice on monetizing and general advice.
First thing I did was set up my LLC and stick some cash in there. While letting the cash sit I picked up some I bonds.
I've always been very risk averse and always thought there was no market for anything, so I'm feeling like this is a reasonable risk I'm taking.
I've been sketching -writing- out plans so that once I pull the trigger its go, go, go. I'm going to need to pull this off smoothly to build credibility and my pockets aren't deep so I can't loiter around.
I've been thinking it's a bad idea to outsource the development of a web platform if it is going to be the basis of my business. So I'm having second thoughts about the approach and am thinking if things can be salvaged if they go south with the company I'm contracting.
Perhaps I'll wait until after the GMAT so I can focus more time to learn the basics of web development before taking this on. It's nothing big if it works out well. My aim is to work no more than 35 hours a week and be able to afford a house in my home state in a city I like .A 2-3bed house with at least 1.5 bathrooms.
Business idea or fake
Bro did you not see my post about creating a private LLC? That would defeat the purpose.
whats the idea
The fact that you started this and your first step was an LLC proves you have no idea what you are doing
the second being that you didn’t even share the idea, in fear that someone will “steal” it. Again shows you have never done this before
this will fail. But you’ll learn from the failure at least and improve next round
Its not or fear that anyone would steal it. I don't like sharing too much on the internet.
I'm aging the LLC and it the financial cost is negligible. I can do whatever I want with it. It's just an entity that exists.
Trust me if it fails, it will have nothing to do with these two reasons.
remember us little guys when you make it big
Its not that type of idea.
I'm literally doing the same thing as Upwork but with a different spin. It's not that novel and probably already exists (no need for ear of the idea being stolen .)This is part of how I hope to differentiate myself. Unfortunately it's out outside of my area of expertise so once I get the prototype down I'm going to reach out to some places. Realistically it might be a loss, but i figured the upside and the skills I do have would be good enough to take on the risk.
I'm just trying to make some money so I can stop being so dependent on my 8-5 and something I can do for side income in grad school.
regardless, that's still admirable. Hope you'll be successful with it.
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