8 Replies - 796 Views - Last Post: 28 July 2012 - 07:56 PM

#1 Dvastyn  Icon User is offline

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Opening a business and...

Posted 28 July 2012 - 07:28 PM

Hey everyone, as you can see from the title i'm trying to open a business/company with my other friend. Around my area there are not really any computer repair places besides Best Buy and stuff but they overprice a lot. I'm trying to think of a name also. I have some.

- Enmity Computer Repair
- Enmity Computer Tech
* - Enmity is just a word I like

What should the owner rank be? CEO/Founder/President?
Then the second in command also.


I know it sounds dumb/jumbled up but thanks for any assistance pertaining towards this.

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Replies To: Opening a business and...

#2 no2pencil  Icon User is offline

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Re: Opening a business and...

Posted 28 July 2012 - 07:31 PM

If you can avoid going into business with a friend, you should. You will not continue to be friends. Something will come up, one of you will expect more from the other than is being produced, & one of you will quit because you will feel too much is being expected of you, & the one that doesn't will resent the other one for quitting.

I've been through it myself.

Also, might I add the following :

You have 12 posts. You don't know us, we don't know you. You are asking us for business name suggestions. Does your business partner/friend know this? Does he/she know that you are sharing potential business names with 500,000+ strangers?

If you have to ask for suggestions of a business name from strangers, maybe you should re-think even getting involved. Also, assuming the two of you have a contract drawn up, you should be speaking with your business partner on this. If you don't have a contract drawn up, then you need to consult with a lawyer & get one drawn up before you do a single thing more with this business venture.

Already I could find out what city you live in, via your ip address, & register the name out from under you. I feel you have a lot to learn as to how business, friendship, & the real world operate before you continue. Both of you could wind up broke, & hating one another. That's how 95% of business wind up.

You need to study a lot more into this, I think.
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#3 Dvastyn  Icon User is offline

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Re: Opening a business and...

Posted 28 July 2012 - 07:33 PM

Thank you for the feedback, yes I know it may tear us apart but we are mostly work buddies/friends so, and he knows I deserve more with the information I know/understand, but what ranks would I be using?
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#4 no2pencil  Icon User is offline

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Re: Opening a business and...

Posted 28 July 2012 - 07:38 PM

More importantly than rank, have you decided what type of corporation that you will file with the state?
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#5 Dvastyn  Icon User is offline

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Re: Opening a business and...

Posted 28 July 2012 - 07:42 PM

Do you have Skype?
Any sort of IM?
It'd be much easier.
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#6 macosxnerd101  Icon User is online

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Re: Opening a business and...

Posted 28 July 2012 - 07:42 PM

File in Delaware as well. Every attorney is familiar with Delaware filing procedures. They also get you efficient returns on your filings. Where will you be getting your funding? Angel investors, venture capitalists, startup incubators, yourselves? Have you drawn out a business model? What will your expenses be? Have you all asked yourselves any of these questions? Seriously sit down and think things through.

Also, check out VT KnowledgeWorks. They're an organization at Virginia Tech, which is where I go to school. They're all about helping startups get going. The link I provided you is their Useful Links page with lots of good reading material.
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#7 no2pencil  Icon User is offline

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Re: Opening a business and...

Posted 28 July 2012 - 07:47 PM

View PostDvastyn, on 28 July 2012 - 10:42 PM, said:

Do you have Skype?
Any sort of IM?
It'd be much easier.


Before I can offer you any bit of advice, you need to consult a lawyer & draw up a business contract of ownership between yourself & your business partner. You also need to file your business corporation with the state, & your lawyer will be able to provide you more information on this (or research with your State's business gateway website).

You are not at a level yet where I can be of help to you. Your proverbial cart is way before the horse. Based on the questions you are asking, you have a long way of understanding to go yet.
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#8 macosxnerd101  Icon User is online

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Re: Opening a business and...

Posted 28 July 2012 - 07:55 PM

You should also check your enthusiasm. Yes, you have to be passionate about your business to make it work. Don't let your excitement blind you as to the reality though, as it sounds like you're doing here. A startup attorney I know described the process of entrepreneurship similar to conceiving a baby- it's exciting at first, but hell to deliver.
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#9 Dvastyn  Icon User is offline

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Re: Opening a business and...

Posted 28 July 2012 - 07:56 PM

Thank you both for the support and good knowledge, I will take this a couple gears down and get my head focused.
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