how to start my business

[Tiger Small Engine]

My policy is through Hartford. Since my shop is on my property I have a rider on the homeowner policy to cover building, tools and equipment. The Hartford is a liability policy. I think a lot of people start a business without knowing how to really run a business. The small business administration website is a good place to start. A side hustle is one thing but a real business is something else. A couple of people I know used their retirement savings to start businesses that failed. A sandwich shop and a bike shop.

A person can burn through money quickly starting a small business. My small engine repair shop is on my property also. I have a two million dollar liability policy to protect my assets. We live in a litigious society so it is necessary although I really don’t like or believe in insurance of any kind.

Next year will be my sixth year in business and have made it over the hump. The first couple of years I made very little and now simply make a living. I love what I do most days.

 

[Hammermechanicman]

For about 20 years I ran 2 businesses as a side hustle besides working 40 to 50 hours of overtime each month. I invested all the profits of the businesses and the OT. Debt free at 50 and retired at 61. Took the mower shop pretty much full time so now I fix mowers and buy tools and toys.