Business Success stories thread

Sharpcharm
Sharpcharm

Business Success stories thread...

Be 19
Start a startup, mobile app based around celebrities
Work very hard, get investment (about 300k)
Make app work (thank god it works)
Do big official launch, spend lots of money on it... but pissed off a national hero celebrity and media destroy me on national TV, print and online.
Be very sad for a few days, fire most of staff as prospects weren't looking great.
big US entertainment company ring me a week later.
Sell company for mid 7 figures, (I owned 49% of company)
Invest in other startups and now helping other entrepreneurs. (Been 8 months since I sold).

Let's here some other good stories.

StonedTime
StonedTime

@Sharpcharm
What was your startup?

ZeroReborn
ZeroReborn

Be 29
living with a parent
sit at home on the computer all day playing video games and wanking
no money
smart but no up to date or desirable skills
no prospects
no hope

Skip forward 2 years
Built and ran a successful sole trader business for a year and change starting out on less than £100
Turn over a quarter of a million that year
Use the profits to launch another venture which has been going for 2 months
Join gym, 8 months in now, fitter and healthier and happier than I've been in as long as I can remember
Earning around £2-3k/month after tax just now, and growing
Have two bigger profitable ventures in mind which both contribute towards the last venture, slowly building skills and knowledge towards each
Reading, eating healthy, working out often, plenty of sunshine, more confidence talking to people

Life is what you make it.

Fuzzy_Logic
Fuzzy_Logic

be me, failure at life, no friends
contemplated becoming an hero
got some advise from cambodian basket weaving site
spent my life savings on new venture
went to all the truck-stops in the vicinity
cornered the market
steady six figure cashflow
just got a new yacht
many friends / clients

Life is good

Need_TLC
Need_TLC

Be 17 in college
Hate my teachers, hate my courses, hate my classmates
Drop out of college after first year with only an A in AS Media to show for it
Want to earn money quick
Get into recruitment
Start doing OK
Start doing good
Start doing fucking amazing
Sold my shitty 10yr old Peugeot and got a brand new Mazda
Earn twice as much money as my parents
Sepnd a shitter tonne of money on clothes, luxuries, food, basically anything I want
Just turned 18 a few months ago
tfw my parents don't even charge me rent

RumChicken
RumChicken

@Sharpcharm
That just sounded very stupid, maybe its the lack of detail, maybe its the way you worded it, but I find it hard to believe simply based on how that story was written.
I guess I'll share mine;
year was 2014
almost 2015
I was pretty much an average person
going to college
had a part time job
I always wanted to start a "business"
had no idea on what I could possibly do that wouldn't be to far fetched
skip forward to August 2014
meet with a friend who is also wanting to run a business
talk and eventually come up with an idea
after a year this idea becomes a startup
approach investors and manage to get £2.5m in funding
company expands to the whole of the UK
soon in America
this entire story was also a potential outcome of the startup im running now, I just wanted to type it out
:)

Nude_Bikergirl
Nude_Bikergirl

@Sharpcharm
@ZeroReborn
@Fuzzy_Logic
@RumChicken

Cool Story bros

BlogWobbles
BlogWobbles

Here's mine. It's real.

Be 20 something, loser, wagecuck, HS dropout
move into a duplex, meet shady character living upstairs
have a few beers with him, find out he used to have repossession business
decide to start business with him, quit job with $200 in my pocket for startup
build a plan with him, print out some price lists, hold harmless agreements, business cards etc
solicit local used car dealerships for business using whats left of $200 for gas money
5 clients by end of first week, start repossessing cars, parking them in my driveway overnight before delivery
up and running, making more than i did at wagecuck job in two weeks flat
word gets out in dealer circles that we're good (they see each other at auctions.. a lot of them are friends)
unsolicited phone calls, more accounts
hire bro-in-law to keep up with workload
use $3000 saved, buy first truck - total beater
$$ rolling in, running out of room in driveway so we rent a gated lot for storage
opens up more revenue in storage and personal property redemption fees
business now six months old, serious $$ rolling in (five figures/month gross)
confusing and complications with scale and expanding start happening
curious about above and how to structure ourselves internally - i apply at a very well established competitor who doesnt even know our name, lie on my resume
work for them and use their system for a month, take careful notes or what works and what doesnt
quit and apply the good parts of their system to our business
see other avenues for profit such as transport services to auction, buy another truck with saved profits
cash really rolling in now, company nine months old
incorporate and get proper repossession insurance policy to solicit major clients (ford, gm, major banks etc)
land first major client, hire to keep up with workload
open a new location in different city to service said client (learned they didnt have coverage there from working at competitor)

BinaryMan
BinaryMan

@BlogWobbles
Cont.

new city location needs manager, hire good friend with MBA to handle expansion plans per our instructions, buy another truck for that location (3 total now)
business one year old, revenue now upper five figures, monthly
continue growing, adding clients, adding additional services like detailing before auction transport
land second major client that requires coverage for entire state - open third location with new truck (4 total now) - MBA friend handles both
6 months pass.. business now a year and half old, 8th largest repo company in terms of volume in the state
goes on and on like this, growing, expanding
business two years old, revenue mid six figures per month and i still havent taken any major profits
continue to reinvest and opening location in neighboring state
MBA friend has another friend, he becomes manager for one state while i remain manager for another
five years later, now cover multiple states under different names for legal reasons, low eight figures annual profit across all companies

and no I won't give any names or states.

Skullbone
Skullbone

@BlogWobbles
@BinaryMan

How long did you do the repossessing before you were able to stand back and manage your business from the sidelines?

Emberburn
Emberburn

Minor success, but still success
Get notified I will be laid off while developing a line of products
Phone it in at work leading to lay off and spend time promoting the products
Walk out last day
Launch products online the next day
Making 4x as much as when I was laid off.

Not huge money, but its given me enough cashflow to let me work less while I worked on my newer project that is currently in consumer testing and is getting ridiculously good feedback.

WebTool
WebTool

@ZeroReborn
How do you did that? I mean how did you start? One day you just hit the bottom and jumpstarted a business? I'm 27 and live like you did.. What's the escape route from this hole? Thanks for any info!

CouchChiller
CouchChiller

@Skullbone
Three years roughly.. maybe a little longer. I still go out occasionally just so I don't lose touch with the business.

Dreamworx
Dreamworx

@Sharpcharm
Alex Khazai? You pissed of Retta at the Emmys or something right?

VisualMaster
VisualMaster

Wish I had one, but good thread, bumpin

Crazy_Nice
Crazy_Nice

20 years old
work for dad
22
high stress lowish pay
24
start to argue how the business should be run
25
start building capital
26
leave dad's business and start my own. We are now competing for the same clients.
27
survive and begin picking up clients
28
sons born prematurely, major hospital time. Work comes to a screeching halt.
29
Business begins to recover
30 (now)
Business is making good gains

Revenue
1st-80k
2nd-130k
3rd-90k
4th-140k
5th-200k with 4 months to go. Major projects will push us to 300k+

Aiming for 450k next year.

TurtleCat
TurtleCat

itt NEET fantasies

Crazy_Nice
Crazy_Nice

@Crazy_Nice
work for dad
Stopped reading there

Soft_member
Soft_member

The only thing every story in this thread has in common is nobody posted their specific product/business they supposedly created and got rich off.

likme
likme

@Soft_member
And no one who is really successful will post it. Creating a profitable business without already successful mentors is mostly a matter of luck.

Methnerd
Methnerd

@BlogWobbles
curious about above and how to structure ourselves internally - i apply at a very well established competitor who doesnt even know our name, lie on my resume
work for them and use their system for a month, take careful notes or what works and what doesnt

Love that. Is this old guy you started with still around? How useful was he when it came to expanding and shit?

Carnalpleasure
Carnalpleasure

@Soft_member
because they are lying

Skullbone
Skullbone

@Sharpcharm
OP loans me money. Use money to make a hydro greenhouse farm. Sell organic food to tree huggers and health nuts.for healthy profit. Work from home and am my own boss. Feels good man.

Soft_member
Soft_member

I'm in the process of registering my LLC. I have about 5 markets I'm selling into the products I will be sourcing overseas.

I've put maybe 2k in total, and most of that went to stock and remodeling my basement as a shipping warehouse and office.

Won't say the product but I have been to China and India to speak with suppliers and arrange transport. Profit margins are ridiculous. $0.60 to source and minimum selling is $40.

JunkTop
JunkTop

@Soft_member
I'm in the process of registering my LLC
Profit margins are ridiculous
hmm

massdebater
massdebater

work for auto body shop
hate the owner, practically run his business for him
decide to say fuck this guy i can do this better than him
work extra hard and study every aspect of the business and industry for a year
uh oh, military reserves call time to go to Afghanistan to visit.
shoot it out with middle eastern people
come home with $30k saved while away
meet up with former co worker and partner up
spend 6 mo finding place to open shop
year one $200k
year two $350k
split with partner
year three $820k
year four still not over, will defiantly break $1MM
opening 2nd location

year 5 will be shooting for 1.75M to ramp to $2MM in time.
18-22% profit margins give enough gas to move into new project.
Always self fund whenever possible and never take a partner unless you have to.
No drugs, no drinking, no smoking and limit time spent on girls.

Business almost self-sufficient, by year 5 need to be able to step away and then I want to start business doing business signage, high end cabinetry or manufacturing high end entry systems (doors)

Soft_member
Soft_member

@Emberburn
Technically, you should get done for that. The line of product you were developing belonged to the company.
Then again, this is why you were probably fired in the first place.

MPmaster
MPmaster

@Methnerd
No, he's not around now. He became a liability both personally and professionally due to some bad habits.. had to cut him loose.

He was useful for schooling me in the basics of the industry, terms and lingo that are used plus the framework for getting us up and running. Unfortunately he was the kind of guy you wanted to have at your side in a dark alley but not as a partner in a successful company.

@massdebater
Always self fund whenever possible and never take a partner unless you have to.
No drugs, no drinking, no smoking and limit time spent on girls.

You're on the right track. A business partnership really is a second marriage for me.

I still haven't kicked smoking though, wish I never started.

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