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  #61  
Old 22.07.2011, 15:05
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Re: Do you have a business?

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Yes but personnally, how did YOU finance it?
I had a steady income and started my business on the side. It took longer to buy things because I would never take credit, but the plus side was that everything in the business was 100% paid for up front.

Also because I was still working any money that the business made went back into the business.
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  #62  
Old 22.07.2011, 15:05
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Re: Do you have a business?

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Yes but personnally, how did YOU finance it?
cash savings and previously I've raised money from Venture Capitalists but it's different for every business idea. Typically you won't be able to raise money from Venture Capitalists unless your business is up and running and is at least trending towards profit. No one will invest in your brilliant idea unless you can show (show! not tell) that you have previous business experience. What are your thoughts Nil? What do you think you might like to do?
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  #63  
Old 22.07.2011, 15:09
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Re: Do you have a business?

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cash savings and previously I've raised money from Venture Capitalists but it's different for every business idea. Typically you won't be able to raise money from Venture Capitalists unless your business is up and running and is at least trending towards profit. No one will invest in your brilliant idea unless you can show (show! not tell) that you have previous business experience. What are your thoughts Nil? What do you think you might like to do?
My idea needs a lot of expenses right from start. Because it isn't something at home, it needs a big space (so high rent) monthly expenses, place qualified staff, equipment and of course the decoration is also a main key.
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  #64  
Old 22.07.2011, 15:10
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Re: Do you have a business?

also a word of warning, silent partners never are!!

my friend would swan in, lord around like he owned the place, take stock, piss off the staff, generally get in the way, would never lift a finger even when he volunteered to etc etc when he had enough he sold his shares to another silent partner, who was more or less the same, wanted 'owner' discounts, wanted all the best gear, first dibs on everything which meant the real paying customers didn't get a look in etc he was the one who bought me out in the end and ran the business into the ground.

if you can avoid it then don't have a partner!
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  #65  
Old 22.07.2011, 15:17
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Re: Do you have a business?

i always self-fund. forces you to budget and be realistic. if you have a strong enough case that a 3rd party investor will invest in, then you're probably just giving away value.

savings, friends/family, mortgage are usual sources. but as above, be prepared to lose friends...
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  #66  
Old 22.07.2011, 15:19
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Re: Do you have a business?

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My idea needs a lot of expenses right from start. Because it isn't something at home, it needs a big space (so high rent) monthly expenses, place qualified staff, equipment and of course the decoration is also a main key.
Everything that would put me off starting up. You will have to make sure your business plan is rock solid.
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  #67  
Old 22.07.2011, 15:47
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Re: Do you have a business?

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My idea needs a lot of expenses right from start. Because it isn't something at home, it needs a big space (so high rent) monthly expenses, place qualified staff, equipment and of course the decoration is also a main key.

what you planning
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  #68  
Old 22.07.2011, 15:50
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Re: Do you have a business?

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My idea needs a lot of expenses right from start. Because it isn't something at home, it needs a big space (so high rent) monthly expenses, place qualified staff, equipment and of course the decoration is also a main key.
all the hallmarks of a venture that could lose and awful lot of money very quickly. better save up, because nobody is going to lend to you to fund such a venture.

my criterion for a new venture are: low initial capex, cash flow positive after initial capex, low/no staff required, can be run from home, requires minimal amount of my time.
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  #69  
Old 22.07.2011, 15:52
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Re: Do you have a business?

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all the hallmarks of a venture that could lose and awful lot of money very quickly.

my criterion for a new venture are: low initial capex, cash flow positive after initial capex, low/no staff required, can be run from home, requires minimal amount of my time.

better save up, because nobody is going to lend to you to fund such a venture.
what he said! employing staff right from the get go!! did you win the lottery?
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  #70  
Old 22.07.2011, 16:01
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Re: Do you have a business?

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what he said! employing staff right from the get go!! did you win the lottery?
No I didn't.... I have just luxurious taste and dream. But no budget to finance any of it. Not yet.
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  #71  
Old 22.07.2011, 16:08
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Re: Do you have a business?

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I have just luxurious taste and dream.
another bad sign!
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  #72  
Old 22.07.2011, 16:17
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Re: Do you have a business?

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No I didn't.... I have just luxurious taste and dream. But no budget to finance any of it. Not yet.

do switzerland have an equivalent of a Limited company?
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  #73  
Old 22.07.2011, 16:30
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Re: Do you have a business?

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do switzerland have an equivalent of a Limited company?
lol Nil lives in Spain.

So Nil, don't do it. Any of it.

I want to start a large international hotel to compete for 5 stars. (for example.)

1. Look for a job as a housekeeper in a smaller hotel.
2. After 6 months look for a job in front of house/reception
3. After another 6 months look for a managerial position/shift manager in an Inn or B & B of some sort.
4 Spend a year or so and try and get a look at the books, do the ordering and that sort of stuff.
5. Move into a home with 2 spare rooms and open them up to paying guests. Get experience doing the breakfasts, taking money. When you've experienced an entire year of profit, move onto step 6.
6. Register a limited company. Keep going with your at-home bed and breakfast but put everything through the limited company. Show 3 years of consecutive and increasing profits.
7. Approach a bank for a loan to purchase a small (6 to 12 bedroom) hotel based on your records and profits and your business plan showing the transition.
8. 10 years of consecutive, increasing annual profits on your small hotel will enable you to approach various entities for funding. 14 years has passed and you're reading to start hiring people for your first proper hotel.


Your current idea is flawed and will lead to failure. Nothing personal - all people in the entire world would fail trying to start at stage 8.
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  #74  
Old 22.07.2011, 16:47
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Re: Do you have a business?

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do switzerland have an equivalent of a Limited company?
Yes, it's called GmbH - Gesellschaft mit beschränkter Haftung. "Organisation with limited liability". But as it is pretty easy and cheap to set up a stock company (compared to Germany) are most companies down to your local car mechanic usually an "AG" instead.
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Old 22.07.2011, 16:48
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Re: Do you have a business?

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Yes, it's called GmbH - Gesellschaft mit beschränkter Haftung. "Organisation with limited liability". But as it is pretty easy and cheap to set up a stock company (compared to Germany) are most companies down to your local car mechanic usually an "AG" instead.
it's 20 000 CHF vs 100 000CHF paid up capital. There's not usually much point in an AG versus a GmbH.
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  #76  
Old 22.07.2011, 16:54
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Re: Do you have a business?

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Hello,

I am thinking a lot about the futur and since I would love to work for myself and since we are going to come back to Switzerland after this adventure, I want to start thinking about options and opportunities.

We have so many successful entrepreneurs on this forum, it could be nice to share a bit of your experiences.

How did you start you business?
What brang you the idea?
How did you find the idea and what you needed to achieve it?
Was it already in your mind to do that specific business or did you just try to find what would be the best to do?

Any stories of how it was at the very beginning?

Was it difficult to start?

Thanks,

Nil
Nil,

I did start my business since 2006 after relocating here, one thing you might want to know, Swiss market is not really so easy to penetrate and most people are looking for established businesses.

I started my business in Multimedia production, design and web development, to answer your questions:

How did you start you business?
When i first arrived here i had a meeting with the ORP to get advice on resuming my career in CH and how to get over language barriers, the guy from ORP just ignored my C.V (7 years experience in multinationals) simply cause i were coming from Egypt, he told me it doesn't count here and he said i should start looking for a job as a waiter or in a shop, no offense but i were more qualified and experienced to just do this, therefore i just went out and never came back again, my own business was my way till further notice.

What brang you the idea?
See above.

How did you find the idea and what you needed to achieve it?
My experience + Passion + Daily activity + Interest lead me to determine it's the best business i can start, i started through friends then became established later.

All what i needed was company registration in the UK + Website + Lots of socializing and networking (This is the main reason of success in business, at least in it's first stages till your brand gets known)

Was it already in your mind to do that specific business or did you just try to find what would be the best to do?
I never thought about having my own business (even though i did have my own business three times now and all been successful), just follow your passion, interest and just study your market, once you do so, you will get more understanding on what needs to be done next and always plan 1 step at a time....running in the beginning can make you struggle later....never take a mission you're not 100% sure you'll accomplish....business is all about reputation and relations, once you shine you do shine....and if you fall, everyone will just walk away from you.

Easy way to say it, anything you do with professionalism, passion and great interest can turn into successful business or even mega business.....just do what you do best and network alot.
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  #77  
Old 22.07.2011, 17:01
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Re: Do you have a business?

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My idea needs a lot of expenses right from start. Because it isn't something at home, it needs a big space (so high rent) monthly expenses, place qualified staff, equipment and of course the decoration is also a main key.
You might wanna consider differentiating between big targets and operational steps, you cannot start big when you do not have business in the pipeline, to achieve what you thinking, you might wanna calculate your expenses for 5 years and estimated ROI, then you can understand.....many people start business at home and become so big.....step by step Nil
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  #78  
Old 22.07.2011, 18:32
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Re: Do you have a business?

The good news is that I do have many ideas.... So I'm not stuck to only one possibility. But this thread help me a lot!

Thanks for sharing, really appreciated!
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Old 27.07.2011, 22:43
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Re: Do you have a business?

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it's 20 000 CHF vs 100 000CHF paid up capital. There's not usually much point in an AG versus a GmbH.
That depends on what your long term goals are, besides once your account is funded and registered you can do what you want to with the money, it's not locked in. You can turn it around and use the funds for your start up. Personally I prefer a capital share structure for long term growth. For my purposes an AG made more sense.
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Old 10.08.2011, 09:18
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Re: Do you have a business?

Just wrote it in a different thread, and want to repost it here.

"Just think of what you're passionate about and constantly develop yourself in that direction. Some day some one will need your expertise."

If you want to start your business now, do a deep research yourself (the way you can), spend a month or more digging into the issue of "your passion",
and you'll definitely find some good business ideas.
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