Finally taking the plunge!!

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Scwood

New User
BigJoe
Hello everyone!I have been awol for sometime now,I have had a lot going on.About a month ago I lost my job of 3 years because my boss didn't pay me for 3 weeks straight.So after spending 2 weeks in a dark hole trying to figure out what to do I finally got out and started looking.I stopped by my old bosses house to shoot the crap.My old boss hired me when I was 19 and green as could be and spent the next 11 years training me.Well he has gotten up in age and decided to retire.Long story short,he offered me his shop for very low rent to go in business for myself.I know with the economy the way it is this isn't a very good time to start a cabinet business,but I pray all the stars and planets will align just right and God will be merciful. So I'm here to announce the birth of Lowcountry Custom Woodworks.I also would be grateful for any advice from others who has been or is in business.
 

JackLeg

New User
Reggie
BIgJoe, best of everything in your new endeavors! :icon_thum This just might be the best time to start up if you can hold on and keep your overhead down for a while. :wsmile:
 

Ray Martin

New User
Ray
Joe,

I wish you all the best with the new shop / company. I know it's tough to start a business in any economy, but I'm a bit jealous. I'd love to trade my job in for something in woodworking.
 

Trent Mason

New User
Trent Mason
Best of luck to you Joe. :eusa_clap:eusa_clap:eusa_clap:eusa_clap:eusa_clap

My advice is that if you're going to commit to it, commit to it fully. Also, it might be good to have a few backup plans in the works if it doesn't work out. Again, best of luck and keep us posted. :icon_thum
 

Bill Clemmons

Bill
Corporate Member
First, congratulations on getting to start your own business, and I absolutely hope you succeed. I spent 30 years in the corporate world, always wondering what it would be like to run my own business rather than someone elses.

Second, here are four points I consider critical to a successful business:
* Produce a quality product at a fair price.

* Treat customers fairly and with respect
* Treat your employees like customers

*[FONT=&quot]Focus on long term, sustainable growth rather than short term, opportunistic business[/FONT]
[FONT=&quot]
I don't know if you have any "business" skills, but if not, I suggest you take a course at a local community college. Producing a quality product won't be enough if you aren't able to manage the business side. With that in mind, don't worry about "ratios". Your accountant can tell you any number of ratios used to measure business success. When you get listed on the NYSE, then you can worry about ratios. In the meantime, the name of the game is CASH FLOW. Profit is meaningless if you don't have the cash to pay the bills each month.

Sorry if this is more than you were looking for, but we've all seen businesses fail for the wrong reasons. I hope you succeed. :icon_thum

Bill clemmons
[/FONT]
 

Mike Davis

Mike
Corporate Member
Owning a business is like working 6 jobs, you have to be the salesman, the accountant, the purchasing agent, the shipping clerk, the laborer and the manager.

And don't forget to spend time with your family.

It is tough but the rewards can be exciting.

Always think long term, you may have to eat a job now and then, but remember repeat customers are the best customers.
 

CaptnA

Andy
Corporate Member
Wish you the best in your new venture!
Not sure I could have waited weeks without pay. Scary business indeed.
Hope this works out and you find it fulfilling and profitable.
 

NCGrimbo

NCGrimbo
Corporate Member
I can't offer any business tips, but I do wish you the best of luck. I know I wouldn't be brave enough to own my own business even when the economy was going full tilt.
 

Scwood

New User
BigJoe
Thanks yall for the well wishes.Its going to be tough with having to meet with contractors,build the cabinets,do shop drawings and give bids.Not to mention in 2 1/2 months football season starts.I got 1 son playing high school ball,1 son playing elementary ball and I coach the the middle school team.That means I have 3 games a week to go to.I also got to make time to watch my Carolina Gamecocks beat up on the other SEC teams.We cant forget hunting season also starts in 2 1/2 months I still got squeeze in time with my other sons and maybe the wife.
 

Jeff

New User
Jeff
Best of luck to you and your new business. You've got a juggling act going on from the sound of it with wife, sons, activities, etc.

You won't know unless you try it! Sarah Palin would use the term "Maverick".:eek:ccasion1
 

SSuther

Stan
Corporate Member
Wish you the best of luck. My contribution is to say that every job done well will become the basis for a referral from happy customers. People love to recommend someone to their friends when they have confidence that the friend will get good results. Repeat business is great, but referral business comes quicker.
 

cskipper

Moderator
Cathy
Congrats on your new venture! Hopefully you can pull it off and reap the benefits of working for yourself, and controlling the quality of your products. This is my second week not working and I am already about nuts - I must find my saw today and create something! Best wishes for good fortune finding its way to your doorstep.
 

medic

New User
john
best of luck in your new endevor and like mike said make time for your family. if your work is good and reasonable, you will have people beating a path to your door.
 

Bob Carreiro

New User
Bob
Congratulations, BigJoe! That's a big decision.

I wish you all the best, BigJoe. Remeber, give it you best. If you give it anything less and it fails, you'll never know if you could have succeeded had you given it your all.
 
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