Need advice

Breakin Newz · Jan 20, 2010

Hello all, I am in a crisis at the moment.. I want to start my own business (Im 21 btw) but I do not have enough funds at the moment.. I was thinking of selling almost all of my corals but just keeping my fish and maybe hold onto some gems... If you guys/girls were in my shoes what would you do? Man im sitting here sweating just thinking about this!! :cry:

Please give me some advice!!

CHALICEKEEPER · Jan 20, 2010

Make a list of the pros and cons :) and think about the economy in your area.

droblack · Jan 20, 2010

What kind of business do you want to start?

Maybe sell some of your least favs, frag some of the nicer ones, and start saving to start your business. If you try to sell everything fast, you will probably have to sell cheaper. Definitely stop buying corals for the time being. See if you can make money and run your tank off frags. I dream of how much easier my life would be without my tanks. But I love em so much. Know you do too.

nayrgaijin · Jan 20, 2010

Save and hold off, I'm going to move this thread to the lounge too.

Sikryd · Jan 20, 2010

I would research what a business model is, and then do one and go from there. If it is feasable, I would also get some advice from someone who has a business and has a business model and go over it with them.
After doing the business model, you'll know which way you should go.

Srixon · Jan 28, 2010

Do the research......don't limit your self to a very tight niche market.....do as much as you can or save and wait for the economy to pick up a little.....also have you thought about doing it part time as you continue with the current job... if it's possible you can see if the demand it there and then go with it when it picks up enough to support you.

gparr · Jan 28, 2010

FYI:
You advise someone.
You receive advice.
Thread title corrected.
Gary

Breakin Newz · Jan 28, 2010

gparr said:
FYI:
You advise someone.
You receive advice.
Thread title corrected.
Gary

You are correct my fellow reefer.. Not sure how I messed that up!

Anyhow! Thanks all for the input! I currently put my "business" on hold for now as I just can't seem to get the cash right now... But hopefully I will be able to in the near future!

Thanks! :bigsmile: