What is Digg?54 Comments
- inactive, on 10/12/2007, -4/+34It takes more balls than money....and a very supportive wife. :)
- datastorageguy, on 10/12/2007, -3/+21True because if you hit it big, she could get half :(
- Sukino, on 10/12/2007, -3/+16You need to start before you get married, or have children for that matter.
- GCRaya, on 10/12/2007, -0/+13It can be very exciting to work for a guy who starts his own business. I've done it several times. You kinda feel like this company might one day grow to be nationwide and a Fortune 500 Company, and your getting in at ground level.
- zarex, on 10/12/2007, -0/+10That's a dumb strategy. They OWN you when you do that.
Getting VC should be a very LAST resort. - danielxmorris, on 10/12/2007, -1/+10Or just find out how much money you will need, then multiply it by 4. :P
- Slinker, on 10/12/2007, -5/+13"True because if you hit it big, she could get half :("
I guess I have a different opinion of loving a spouce. - PhilUk, on 10/12/2007, -0/+8You paid upfront? Guess you wont be making that mistake again.
- kenflannery, on 10/12/2007, -0/+7I just paid a programmer $2,500 to get my site up and running, now he's disappeared...
- Marcuzz, on 10/12/2007, -0/+7No money, just 1 red paperclip
- BIGmog, on 10/12/2007, -0/+6To be safe, you should plan to have enough money to keep the business running for 6 months after you start it. There are many extra costs that you might not have factored in.
In short, figure out how much money you need to start your business then double it. Then double it again. - jramos, on 10/12/2007, -1/+7"I guess I have a different opinion of loving a spouce."
And also a different opinion of how to spell "spouse". :-P - danielxmorris, on 10/12/2007, -1/+6dnthomps, why do you say that it's trying to be a web 2.0 page, it doesn't resemble any sort of web 2.0 structure. A beta notice doesn't mean that a web page is trying to show itself off as a web 2.0 page, the navigation is also the same as any other navigation, it's just hyperlinks, to the left of the page, the same as Digg, Slashdot and millions of other pages.
- inactive, on 10/12/2007, -1/+6If you convince venture capitalists, you can fork out nothing to start a business. You need to have a good business plan to do so. It is hard work like everything
- shatters, on 10/12/2007, -2/+6Yes, it might be a little "hard", but I hear it's "growing".
- PaulOwen, on 10/12/2007, -2/+6Does anyone want to hear about my viagra and cialis business?
- ShrimpCrackers, on 10/12/2007, -5/+9Your parent's sales is only growing $10,000 a year? AFTER 15 YEARS?!? God thats terrible, if my business were like that, I'd kill myself. It'd take 10 years to increase by $100,000, a hundred years to increase by 1 million. Its hardly worth it.
- RickySan65, on 10/12/2007, -0/+4"but what kind of cut do they get"
Depends on the level of funding you ask and get, but typically it's 40% and over.
"Do they continue to make a percentage of your profit?"
Again, depends on how the funding is setup and how smart a negotiator are, but typically the answer to your question is yes. - heyitsmedusty, on 10/12/2007, -0/+3I'm a little confused about money from venture capitalists. I understand that you approach them with a business plan and then they fund the idea, but what kind of cut do they get? Is their financing usually paid back as a loan with a lot of interest? Do they continue to make a percentage of your profit? I'm sure there are many models, but I'm wondering what is done _most_ of the time.
- RickySan65, on 10/12/2007, -0/+3Funny, it's usually the other way around, designer puts site up, never gets paid.. I guess you got trapped with someone who's been had before and decided to switch the cards this time.. Sorry to hear you got dinged though.
- shatters, on 10/12/2007, -0/+3That's why you should always have a contract. Even for friends and relatives.
- joehobbes, on 10/12/2007, -1/+3I spent $200 on mine.
It's a bit smaller scale, but its some excellent additional income. - saigumi, on 10/12/2007, -0/+2I'm over that now. I've sunk about $17k into mine and am going to buy my partner's share for $7k as he is looking to get out of the business.
Combined, we have $20k in sales a month with stores at 3 locations since three years it started and about $30,000 in inventory onhand.
There is no feeling better than being your own boss. - dailyclerk, on 10/12/2007, -0/+2It does take a lot of balls but it also takes a lot of brains. I've started two companies and each one took their toll on me in different ways.
My main piece of advice, if you are starting a company and plan on building a brand, get your company trademarked before making any marketing materials otherwise you'll lose quite a bit of money.
And also, don't get frustrated. Let that drive you to success. Remember that 9 out of 10 tries fail, but it only takes that 1 company to do it. Just keep getting back on that horse.
And if you already have a job when you start your company, try to keep the urge from quitting until your new company is generating enough cash to keep you going at the most minimum level.
Good luck to all you future Digg-preneurs! - scronline, on 10/12/2007, -0/+1I call B.S. $10k is not even close enough to start your own business these days. The only way you could consider it is with some sort of home office. Equipment isn't cheap, office space isn't cheap particularly in CA, and product isn't cheap unless you're selling low quality Walmart type products. You know, silverware that rusts after 2 washings, glasses that break in your hand while you wash them (yes, I've had both happen which is why I don't shop walmart anymore).
I've been wanting to start a brew pub. $250k bare minimum to get that started, and that's a small one.
either rate....I call B.S. - mikejohnston, on 10/12/2007, -0/+1That actually got a good chuckle. Nice one.
- MihaiM, on 10/12/2007, -0/+1My Internet Business cost thousands of hours of work. And I still pay for it
- timdorr, on 10/12/2007, -2/+3Same here. I'm not interested in fast growth, but I've got employees and an office at this point. Doesn't take much :)
- alantocheri, on 10/12/2007, -0/+1I'm not sure what type of average that is. Did they just interview web based start-ups or something? Did I miss that part in the article? Because anyone that's started a retail store of any kind needs at LEAST 10k just to fill the store with product.
- Corvidae, on 10/12/2007, -0/+1Who says your company needs a location? Half my family runs 2-3 businesses out of their home with usually 1 main company that they get an office for, just to look legit and make people feel better. It all depends on what kind of business you want to run.
I know a half dozen computer geeks that sell their services to businesses too small to keep someone on staff, but too big to go without expert advice and service. One of them actually has an office he never uses and most of them have little to no inventory. You can get every tool you need to fix a computer for less than $20. $50 if you want the really snazzy screwdriver and the mini-vacuum cleaner to make yourself look cool.
Decent store fronts and special equipment are what kill ya. Location will make or break any storefront business, and the strip mall owners know it. Most types of manufacturing will take some type of heavy equipment that's going to put a hurt on the budget and require more people to operate, not to mention materials.
In short, if you want to get into business on the cheap, do some kind of onsite service. It's either that or get a deal selling someone else's product. Half the companies my family runs are just on paper so they can sell cars, houses, planes etc. They don't have inventory, they sell what other dealers have for sale and skim off the top. No up front investment that way, it just requires a large amount of charisma and the right contacts. - mikejohnston, on 10/12/2007, -0/+1Interesting web site in the fact that Intuit is behind it (they need to hire a designer).
That said, once again I will point out that Microsoft did this in 1998 and it was called "Biz Central" (bcentral.com respectively). They went on a rampage purchasing "the link exchange" and other small to mid-size ad and search players.
Maybe there is something to Web 2.0 since it is shaping up to be a new elegant design on 1998 ideas-- this one does not qualify in elegant design.
Of course that's just my opinion. - inactive, on 10/06/2008, -0/+1here is mine http://fatbikez.com and http://astawerks.com
- NapoleonGold, on 10/12/2007, -0/+1Seriously $10,000 to start a business; Bullocks
They should have said "$10,000 to start a home business"
I am in a start up and you don't get through the front door without $100,000 for six months with 5 employees. And that is underpaying on every front.
Good luck with that 10k, hope you have one hell of an idea and no overhead. - h3smith, on 10/12/2007, -0/+1As for me, I am about $10,000 into the hole. I have spent a year developing my product. My biggest expense is debuting my product, which I have chosen to do at a trade show for my core audience. I don't expect to sell much there, but hopefully garner enough interest to nap investors. (plenty of offers already!)
But servers, licenses, it all adds up very fast. Thank god for credit! It can be done with $10k, but I am also getting a lot of free help from friends, which is priceless. - elebrio, on 10/12/2007, -0/+1$100,000 is doing it on a shoestring, good luck, entrepreneurs are heroes IMO.
- kenflannery, on 10/12/2007, -0/+1had a contract, still not sure if he's completely flaked or just violently ill and unresponsive, plus I wonder if it's worth the time and money it will cost to pursue tracking him down and getting the money back.
In the meantime I wait for the golden programmer who wants to work for pats on the back and pride in the project... - gd007, on 10/12/2007, -0/+1I thought SBA will give money to start business.
- ellenweber, on 10/12/2007, -0/+1It also takes a good sense of your calling cause the money takes time to float. As so many people also mentioned -- it takes terrific relationships. people with means and experience will be glad to support and stand alongside people they trust far more that we think. So the money is not always in cash in those first years -- it is also in calling, people and sheer guts. Great discussion -- you kind of sense there are lots os strong firms in the making here!
- fvjohnson, on 10/12/2007, -0/+0A service based, virtual home-based busness can be very profitable and started for waaaay under $10K.
- Carnth, on 10/12/2007, -0/+0I think $10K is a good start for a on-line business. You can work from your home, there is no (real) expensive equipment to buy, and hosted server space is cheap compared to a brick-and-mortar office space.
- NapoleonGold, on 10/12/2007, -0/+0@h3smith
Good one; I can't imagine why you were dugg down but I hit ya with a +
On a side note: Good point on $10,000 and credit. Takes alot of guts to go that way and for the sheer balls you have I hope you make it off the groundfloor.
Good Luck,
DC - mssmallbiz, on 04/27/2009, -0/+0I really think that $10,000 is a fair average but I would say that it is much lower if you are strong, motivated and really passionate about what you are doing.
- timsit, on 10/12/2007, -0/+0$10,000 seems about right to me. Sure it depends on the type of business you start, but working capital is the big one thing people forget about when they first startup.
I totally agree about the supportive wife too. ;-) - ozonew4m, on 10/10/2007, -0/+0You can start a business for as little as $20 if you have the time and patients to build it. All you need is a domain name, a hosting account and alot of determination, you can then try exchanging links with other websites to build your businesses search engine placement.. If you hit the top the cash can start rolling in..
a good place to begin is http://www.link-exchange-forum.com - Pixelink, on 07/03/2008, -0/+0I started my first internet business on a broken Mac and freeware programs. Here it is for reference. http://www.start-cleaning-business.com. I did eventually upgrade the computer and software, but even then I probably only spent between $1,500- 2,000 for a business that has been paying all of my expenses for 4.5 years. I have since started 3 more Internet businesses. They all make a profit. You have to be competent at communicating through writing in order to make it online. It was a challenge for me and I'm still working on it, but as Ray Kurzweil points out, like it or not, everything is becoming informational, everything! Better get good at disceminating and editing information.
- googli, on 06/13/2008, -0/+0I think the following link on that site was more interesting:
buy viagra http://tabletta.com/
buy cialis http://tabletta.org/
buy levitra http://youtubuy.org/ - bcom, on 10/12/2007, -0/+0Agreed. These numbers mean nothing because the scope is too wide. If this fills CNN they must be hard up for articles.
- coville, on 01/05/2009, -0/+0Hi. May I ask what business are you doing? :)
- dr3d, on 10/12/2007, -0/+0Yeah -- this is a fairly useless article .. $10,000 on average .. hmmm .. what's the median? .. what's the range ? And for what sort of business - making and selling cookies ? or implementing a new nanotube manufacturing process ...
This is CNN filler .... *yawn* - eliasg, on 10/12/2007, -2/+1I've been trying to start a site with $10K but it's been nothing but delay after delay or setback. Fortunately the work has not commenced yet, because it turns out that a site doing exactly what I wanted to do was launched this week, and the people behind it are fully-funded by VC money. No way I can compete with that; sometimes things happen for a reason. I find that at least I was not half-way through development when the other site launched. Then I would have been really screwed.
-
Show 51 - 54 of 54 discussions
© Digg Inc. 2009
— Content created and posted by Digg users is