Ask Lemmy

The amount of time and money spent doing all the starting and running a buisness crap that has nothing to do with the actual work is staggering. I started my own LLC in an industry where I am considered an expert, and it was a complete failure in less then three years.

I had clients, I had projects, but was so overwhelmed with all the buisness elements I just couldn't spend the time required to get the work done properly. On top of that, while the money was good, the clients were often late paying, so all sorts of fees piled up and quickly ate into the profit. In the end I realized to do it right would have required at minimum four full time people.

Ended up taking a job with a large company as their in house specialist and I'm so much happier. I work shorter hours, get a regular salary with benifits, and spend my time doing the technical stuff I like.

Not saying don't do it, just be aware of everything that goes into it beyond the core elements of the work / product.

You can grab a copy of entrepreneurial small business 5th edition used for probably 20 bucks. I'm about one semester out from a business administration associate's degree. That textbook was the most comprehensive of anything that I studied over the last year and a half. And the only textbook I made sure to buy a print copy of, so I have it for reference.

I am running my own business coming up on ten years now. You need to go and do a "Start your own business" course.

Lots of places have one that is state or local government sponsored so have a look around. It's good to meet other local entrepreneurs too.

Apart from learning how to actually do business basics you'll learn about legal requirements, filing taxes, registering a limited liability company etc that are all essential parts of a business.

Many of these things can be outsourced but you need to know about them in advance.

When you write your business plan BE HONEST with your numbers and assume everything will take longer and cost more because it will. I had huge respect for one dude I know who did then walked away before starting and losing money and / or not making enough.

Good luck!

Write a realistic business plan - find and figure out your challenges on paper before you commit $$

Fuck you, Pay me

Get a lawyer to create you a standard contract that explicitly states payment terms and IP ownership transfer conditions.

My biggest pitfalls were not realizing how fucking expensive it is to run a business. licenses and taxes and paying accountants and shit I hate it but it's better than having a real job

Essential tip #1. No customer cares what you do, only what they get. They're not buying the reverse engineering, they're buying the copy. Let that inform your choices, your marketing and interactions with the customer.

Tip for B2B especially. Listen to the person and treat them as a professional, find ways to explain limitations and options in a way that makes them feel understood and that helps them look good in their own organisation. In another phrasing: Make them the Hero of their company, and you'll be theirs.

Word of advice: Enjoy the ride! Business isn't difficult, but it's tough, there's so very very very many things you now have to get done there's no reasonable chance at foreseeing even most of them. You will get surprises, you will get crises. Get as much help and mentorship from experienced entrepreneurs as you can (we're typically a very helpful bunch), but prepare for even that not being enough.

Perseverance, responsiveness, and resourcefulness is what separates you from the 80% failed businesses within 5 years.

Sometimes, actually kinda often, people come to you who know the costs of your materials pretty accurately. "I used to own a..." and "My industry uses that too, and it..." or any info regarding your costs.

Almost always those phrases are followed by some level of attempt to lower your prices.

Don't, even at the start, even if its family. You don't even have to explain it to them if you don't like confrontation.

If they know it so well, they also know why your pricing is the way it is, and what they'd like you do is bend over.

Also, relatedly, inflation always sucks, and your pricing, if fair, reflecting that will be anticipated. Trying to remain at the same price when your costs really change isn't good business. For something like filament, idk if wholesale prices fluctuate or just go up, so leaving some space if the former so you can avoid constantly updating your pricing is cool too. For a business I used to own, I just priced factoring my gas pricing a half a dollar more than the start of the year's, and rarely had to adjust it within a year.

I can only suggest getting yourself a legal expense insurance. It may not be to obvious, but there will be day, where you get a customer that makes a very sweet deal and later won't pay you. It devinetively is good, if you don't have to take the costs of it going to court.

getting a job somewhere close in niche to what you are considering.. generally is a huge help.. get paid to learn the ropes.

I can only assume your unique mix of skills are in hostage rescue

Invest in these books, now:

( not affiliate links, which should be obvious from the short uri's )

https://www.amazon.com/Founders-Dilemmas-Anticipating-Foundation-Entrepreneurship-ebook/dp/B007AIXKUM/

https://www.amazon.com/Slicing-Pie-Handbook-Perfectly-Bootstrapped-ebook/dp/B01LZJWFXH/

https://www.amazon.com/Lead-Right-Your-Companys-Type-ebook/dp/B01N6QY98O/

https://www.amazon.com/Business-Model-Generation-Visionaries-Challengers-ebook/dp/B06X426D4F/

IF you do not understand all the stuff in there, THEN you're suckerpunching your life, and I don't want that happening, ok?

Salut, Namaste, Kaizen, & Fare as well as you possibly can.

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I don’t have any advice but I’m curious what kind of equipment & software you’re working with. I know that stuff isn’t cheap.

Well anyone can 3D print something, but it’s the modeling of a printable object that is your skill. However modeling and designing are two different things.

If I had your equipment and skills right now I would start printing bathtub jet plugs. Convert a jetted tub into a non-jetted. Probably only a few different brands and designs to cover.

Aside from that, I’d get into mold making. You can 3d print a mold, or even a mold of a mold. Or a mold of a mold of a mold. Then you can cast objects in metal or ceramic, or silicone or even plastic (haha) or other materials that can be a liquid. Way more interesting than plastic shapes. Plus molds can be used many times.

As far as the business goes? No idea. Start by making useful objects that people want to buy. But that’s kind of a different skill of “inventor”.