I've made the decision... (not boat related... Sorry)

[Holland]

I am tired of the opressive poor business decisions of current ownership. We made an offer to buy the company, he blew the time constraints of the earnest contingencies. There are seven of us starting our own business next month. We have 400K in start up capitol (Non Financed), Cali Corporation, contractors' lisc... everything we need... SCARRY..... I know we should do well. You might see some crap for sale soon :D
Wish us luck!!! I might lose some of my post reading time for a year or so...

[CandyA$$]

Well Good Luck

[Waist Deep]

Uh, you're going to be a California Contractor? Better put some money aside for that attorney when you need to collect or you get brought into a case for no reason. Good Luck

[rivergoer]

well good luck man hope all goes well. :)

[My Man's Sportin' Wood]

Best wishes. Get a good attorney for when someone decides he or she can't hack it. It's not easy for the first couple of years, and most people aren't ready to make the necessary sacrifices. When Jeff started his business he went 3 months with no income. Good thing we had a sufficient savings account to live off of, were willing to tighten our belts and had no personal debt other than our mortgage.
Again, best wishes. It's exciting, isn't it??

[Keithb87]

Good Luck.. Hope all goes well.

[Holland]

Uh, you're going to be a California Contractor? Better put some money aside for that attorney when you need to collect or you get brought into a case for no reason. Good Luck
We actually have crossed this bridge several times. It does suck out here. Our field is pretty specialized, and our customer base are very faithful. But we (at this company) are still about $98K past 120 days. OUCH!
Thanks for the reminder of what to expect!!!!!!

[Waist Deep]

Whats the specialty?

[Holland]

Best wishes. Get a good attorney for when someone decides he or she can't hack it. It's not easy for the first couple of years, and most people aren't ready to make the necessary sacrifices. When Jeff started his business he went 3 months with no income. Good thing we had a sufficient savings account to live off of, were willing to tighten our belts and had no personal debt other than our mortgage.
Again, best wishes. It's exciting, isn't it??
That is why we did a corp right out of the hole.. Minimize exposure and hope the initial group can handle it!
We have a good attorney and CPA already. $$$$$ it goes fast!!!
and ...
... thank you!

[SummitKarl]

so the negotations went like this
http://smileys.smileycentral.com/cat/10/10_9_134.gif ('http://www.smileycentral.com/?partner=ZSzeb008_ZNxdm117YYUS')
good luck Holland
http://smileys.smileycentral.com/cat/36/36_1_55.gif ('http://www.smileycentral.com/?partner=ZSzeb008_ZNxdm117YYUS')

[Holland]

Whats the specialty?
Controls... HVAC, lighting, Hi rise with built up central plants... all web based.
Pretty cool stuff. We have been doing it for 10 years.

[Holland]

so the negotations went like this
http://smileys.smileycentral.com/cat/10/10_9_134.gif ('http://www.smileycentral.com/?partner=ZSzeb008_ZNxdm117YYUS')
good luck Holland
http://smileys.smileycentral.com/cat/36/36_1_55.gif ('http://www.smileycentral.com/?partner=ZSzeb008_ZNxdm117YYUS')
LMAO!!!!!!!!!

[dmontzsta]

Congrats. I hope mine goes the same, I am in a similar situation.

[Waist Deep]

Good Luck, remember, everything in writing, friends or not!

[Holland]

Good Luck, remember, everything in writing, friends or not!
I have been burned for that prior... I respect that advice and I already live by it! this way, no finger pointing... just facts.
Saves lives!!!!

[Rock-A-Bye-Baby]

Good luck and i hope the partnership agreement is tight.
put your seatbacks up and your traytables in the upright and locked position. it's gonna be a bumpy ride!
i own my business too!

[Sportin' Wood]

Sounds like you are on the right track. Be ready for some one to bail, they always do. My partner and I where too stuborn to let the other have it. Every time one of us would get ready to quit the other was like Give me your stock and I'll sign your walking papers. Needless to say 7 years later we are past wanting too quit. AR's just seem to always go up, if I could get paid on time I might be able to have a taste of that Kool aid that gets passed around.
Go for it all the way even if ya have to sell all the toys , you'll get them back!

[dicudmore]

good luck Bob... Hope it all works out for you :D

[Holland]

Sounds like you are on the right track. Be ready for some one to bail, they always do. My partner and I where too stuborn to let the other have it. Every time one of us would get ready to quit the other was like Give me your stock and I'll sign your walking papers. Needless to say 7 years later we are past wanting too quit. AR's just seem to always go up, if I could get paid on time I might be able to have a taste of that Kool aid that gets passed around.
Go for it all the way even if ya have to sell all the toys , you'll get them back!
Great advice... We are off to a good solid start... Solid business plan, target marketing... all pre thought. The plan is successful where we are now, very successful, we are hoping to continue un interrupted. But like you say... Lose the unnecessary stuff and move on. Besides I have met some really cool people here that I could bum a ride from!!! :D
Thanks for the encouragememt!

[Rock-A-Bye-Baby]

AR's just seem to always go up, if I could get paid on time I might be able to have a taste of that Kool aid that gets passed around.
aint that the truth! if i could get my customers to pay on time, i wouldn't have to borrow money!!!! :cry: :cry:

[Froggystyle]

When Jeff started his business he went 3 months with no income.
Three months??
I am over three and a half years gainfully unemployed. The only income I have is retirement from the Navy. That about pays for coffee...
Of course, that is all about to change.

[Froggystyle]

I had no idea you were old enough to be retired Navy.
Medically. I got hurt in a parachute accident badly. No way to stay a team guy, so they retired me.
E-6 SEAL in around 7 years.

[Jinga]

9 year Force Recon guy. Retired by my last command due to bad attitude. :D
So now you're crashing this thread too??? :p

[Froggystyle]

9 year Force Recon guy. Retired by my last command due to bad attitude. :D
Hoo-uh... or whatever it is you guys say... ;)

[Sportin' Wood]

Three months??
I am over three and a half years gainfully unemployed. The only income I have is retirement from the Navy. That about pays for coffee...
Of course, that is all about to change.
The bigger the risk the bigger the return. :wink:
" Well son You've made a real nice business here, when you started you had a beat up truck and a dream. look at you now you have a beat up truck and your over a million in debt, Good Job!"
Read that in Forbes last week. So true!

[Holland]

The bigger the risk the bigger the return. :wink:
" Well son You've made a real nice business here, when you started you had a beat up truck and a dream. look at you now you have a beat up truck and your over a million in debt, Good Job!"
Read that in Forbes last week. So true!
eeesshhhhhhh... I cant wait :hammerhea
:D