Official NT Entrepreneur Thread

[girlslovewaffles]

I created this thread so that individuals who are interested in starting businesses of their own have somewhere to ask questions and/or read about experiences from others. Anything related to entrepreneurship goes so feel free to treat this thread as a resource. Also, if you have a business, feel free to share. Who knows, maybe someone might take an interest in your business and have the skill set necessary to work with you to take your idea to the next level.

I will start first. I started a food truck in LA back in March 2011 called Waffles de Liege. Like other gourmet trucks, we chose to specialize in Liege waffles. Our partners include local ice-cream shop Fosselman's, which serves traditional-style ice cream. In SoCal, it is considered a "gem" and definitely a top 10 destination for ice cream lovers. Some photos of our product and truck below:

Contrary to what you may see on TV and/or hear from others, the food truck business is HARD WORK and the market is OVERSATURATED. If you have any questions, you are welcome to ask me on here and I'll do my best to reply to it, but my information will be limited simply because, well, I don't want to end up helping potential competition.

Please share your businesses, NT!

 

[ricky409]

In4 great vibe...

Running your own business is hard work, but the money + satisfaction >>>

I want to start an financial advising and marketing firm...

One day... maybe late 20s...

 

[mycoldyourdone]

good lord jai faim

 

[thadocta]

i rather just work for someone else and do a mediocre job while still gettin paid and then forgetting about the job after 5pm then worrying about my business 24/7 but thats just me

 

[ricky409]

i rather just work for someone else and do a mediocre job while still gettin paid and then forgetting about the job after 5pm then worrying about my business 24/7 but thats just me

that just mean you ain't got hustle in your blood and you would rather be a cog on the wheel...

 

[sheistbugz]

OP, how much did you initially put in to the business to get it started?
I always wondered how it would be to get a food truck running, have a few ideas.

 

[216301baller]

I wanna be an entrepreneur but im nervous on starting a business at the same time...and my laziness would be my downfall..

 

[teamjordan79]

i rather just work for someone else and do a mediocre job while still gettin paid and then forgetting about the job after 5pm then worrying about my business 24/7 but thats just me

yea, the start-up grind and the accompanied risk is not for everybody. Props to everyone who takes that plunge. Ive helped my boy with his business before and its def no joke. The stress alone....

Here are some interesting charts i found.

 

[the hater boxden]

Why did you pick waffles?
Was your choice influenced by the oversaturation of other food trucks?
How long did it take for you to start up?
Getting permits and what not takes time because it involves food over any other business right?
How many people do you employ?
What was the start up cost? out of pocket or loan?
How much time did you take to turn profit?
Do you move your truck from place to place or are you set at one location?
Any plans to expand?

I love waffles.

 

[thadocta]

i rather just work for someone else and do a mediocre job while still gettin paid and then forgetting about the job after 5pm then worrying about my business 24/7 but thats just me

that just mean you ain't got hustle in your blood and you would rather be a cog on the wheel...

no im not a "hustla". i just wanna live good. to me living good is not spending my life running a dumb business. to me living good is being with family and being happy

 

[the hater boxden]

i rather just work for someone else and do a mediocre job while still gettin paid and then forgetting about the job after 5pm then worrying about my business 24/7 but thats just me

that just mean you ain't got hustle in your blood and you would rather be a cog on the wheel...

no im not a "hustla". i just wanna live good. to me living good is not spending my life running a dumb business. to me living good is being with family and being happy

You can't do a mediocre job and expect your employer to keep you around.

You gotta work hard whether you choose to be an employee or entrepreneur if you really want to "live good" for you and your family to be happy.

 

[ricky409]

no im not a "hustla". i just wanna live good. to me living good is not spending my life running a dumb business. to me living good is being with family and being happy

you sound young famb...

Keepnit real... how old.are you?

 

[shooters touch]

no im not a "hustla". i just wanna live good. to me living good is not spending my life running a dumb business. to me living good is being with family and being happy

Aint nothing like being your own boss and doing what YOU thought up and enjoy. I'm 22, single with a two 2 year old son and have been unemployed for quite some time. After stressing out from applying to jobs and not having any luck, i decided to put my skills to the test and came up with an idea to start my own car detailing service. Im only two weeks in but have had 5 customers already and im getting good referrals! I only charge 100 for interior (shampoo,degrease,door jams,windows,dress and vaccum) & exterior (wash,wax, engine clean,tires,rims). Thats crack prices up here i WA for a detail and i take my work seriously. My customers always know they are getting my full service along with my word. Im planning on going to school for auto body and mechaincs and open up my own shop in about 4 years or less hopefully to service all 3. Its not my dream job but i know it will get job done in providing for my family, the demand is always there. Plus at 26, im still considered young and have plenty of time to pursue other ventures. Btw i started with only 200, besides from already having my own pressure washer and steamvac it wasnt expensive at all. Just had to put in some networking. Shoutout to them NT entreprenuers.

 

[triple homicide]

Entrepreneur checking in.

It's definitely a great accomplishment to start/run your own business. I'm glad to be my own boss. I gave up that employee lifestyle back in 2009.

It'll take some time to save money to invest and get things going but once things get to moving....

I run a media production company called TheGrindington Productions. I do CD/DVD duplication, photography, videography & graphic design.

www.TheGrindington.com

 

[girlslovewaffles]

For me, entrepreneurship is all about creativity, expression, and most importantly, production. If I want something done, that I believe is in the best interest of the company, and is something I think the public will like, I get that chance to do it. No bureaucracy (at least not until you've grown to a point where you share equity), no naysayers, just direct expression of your ideas and values. To me, that is very important and is one reason why I hold entrepreneurship in such high regard. Your company, in essence, is an outward expression of what you believe in, and to have the public embrace your company is having them embrace an extension of yourself. It is a wonderful feeling that truly drives me to be better everyday, to make my company better than it was before.

Another thing is I want to affect as many people as possible in my short time on this rock we call Earth. Whether you're a doctor or a social worker, your reach is limited by your physical presence and your time. If you treat 100 patients in a year, that's 100 people you've interacted with. You cannot interact with more unless you spend more time. However, with a profitable business that is built to last and, hopefully, expand, you are in a position where you can interact with a growing number of people. At least this is how I think because I view my business as an extension of myself.

Finally, I value wealth, but not because it can buy fast cars, big houses, and nice clothes. This doesn't mean I don't want any of those things, just that it's not the most important thing that drives me. My philosophy is that the purpose of wealth is to provide the means for production. Nothing puts a smile on my face more than re-investing profits for the purpose of expansion, the betterment of a company and its products, and the overall satisfaction of all the people in the world who are willing to spend money for what you created.

This is why I would rather start my own business than work for someone.

 

[atlien seeko]

Watching

 

[myjaysgetrocked]

Just some advice for future entrepreneurs, know when to give up. Many people get trapped into an escalation of commitment, and therefor ruin themselves for the rest of their lives. Sometimes you just have to accept your loss and move on.

 

[je ne sais quoi]

I got a small time legit hustle going on now, pretty small, but it's getting there and it keeps me creative and off NT, don't got the time for it now.

I heard Oprah say that happiness is overrated and joy is where it's at. Joy is not happiness. Joy can be grueling, tough work, but God damn it does it feel good at the end of the day. I gotta agree with her. Doing this s_ is nerve-wracking, but I find joy in all the emotional chaos this provides.

 

[flip5stacks]

Damn that's crazy. I've seen your truck at Southbay DDaGG a few times. I'll have to stop by next time I go.

 

[buggz05]

I will start first. I started a food truck in LA back in March 2011 called Waffles de Liege. Like other gourmet trucks, we chose to specialize in Liege waffles. Our partners include local ice-cream shop Fosselman's, which serves traditional-style ice cream. In SoCal, it is considered a "gem" and definitely a top 10 destination for ice cream lovers.

Congrats man! That's awesome.





If anybody has any info or can recommend an entertainment insurance company, I would appreciate it. I'm currently saving up money for a recording studio and media production company. I rent a lot of equipment, but when I rent they ask for deposits a lot or insurance. I usually have to talk them out or down on the insurance, but it is a hassle for both of us. I always think, If I had that much money for a deposit, don't you think I would buy my own stuff? And the same with most of the insurance quotes I look at. As much money as I'm giving you, I could just be buying this stuff...



Also, anybody on the IM or WSO tip?

 

[supraman1784]

Congrats man! That's awesome.
If anybody has any info or can recommend an entertainment insurance company, I would appreciate it. I'm currently saving up money for a recording studio and media production company. I rent a lot of equipment, but when I rent they ask for deposits a lot or insurance. I usually have to talk them out or down on the insurance, but it is a hassle for both of us. I always think, If I had that much money for a deposit, don't you think I would buy my own stuff? And the same with most of the insurance quotes I look at. As much money as I'm giving you, I could just be buying this stuff...
Also, anybody on the IM or WSO tip?

I'm in IM and WSO's. I have had awesome guidance from some of the best in the industry. I just started out and have a launch coming in about a week and half. Let me know if you want to know anything.

Check my link....its a blog with some content on it but its really a portal to sell my products and stuff. there's a ton of money to be made on the internet. just depends on how hard you wanna work for it....same as everything else.

do you really really want it? or do you just kind of want it?

ThreeZeroZero

 

[Jordan8]

Im a serial entrepreneur and I must say that being "lazy" is the best trait for being an entrepreneur.

I just want to add that there is a big BIG BIG difference in starting/owning a business and actually running a business

So many people own jobs not businesses.

Read the E-Myth by Micheal Berger

RIP to one of my mentors Chet Holmes

 

[numberr97]

This is wild, I was really going to start the same kind of thread the other day.

I have a few questions and they might be dumb but here it goes. Lets say I have an original idea for a clothing line, how exactly does one start a clothing line? Like do I have a design and order t shirts from these websites where I can pick hanes/american apparel etc t shirts or what? Like I always wondered for instance what brand shirt does supreme print on, or lrg or any company. And when I receive the shirts do I just go to a screen printer and get my design printed on?

I would really like to here some knowledge on this please. I am not saying I want to start my own clothing line, but I would love to here some input on how 1 is started.

 

[fraij da 5 11]

I get Liege Waffles from "Waffles and Dinges" in NY whenever I'm there.

Good work OP.  I wouldn't mind doing that but I'm not sure I have the market for a food truck in my city.

 

[luckyp824]

Those waffles look ******g awesome. I want one really bad right now.