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General Talk If it doesn't fit anywhere else, post it here.

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  #1  
Old 05-16-2008, 09:36 PM
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Thanks to everyone for my recent post, but I have come across a little problem. After helping my son purchase the lawn equipment and helping with his finances (signing an equity note) he comes to me to say he's done he wants no more of this. He has gotten down because of the 5 yards that he has is not the type of yards he wants so he is going to quite. Since we are new at this we have taken on what we can get. We live near one the largest lakes in Virginia which has 500 miles of shoreline. There are many homes around the lake that have yards that need mowing. The homes are mostly owned by retired people and they hire people to do what is needed. I keep telling him to hang in there that good things come to those that wait. I also explained to him to look at this business as a opportunity not a obligation. All I get from him is that he is going to plan "B" which is going back to the NAVY. So I guess I am going to try to keep this thing going even if I have to hire someone. I already have one business that is growing that takes my full attention. So I might have to really have to demend on the forum for a lot of help.
Thanks for just lettng me vent.
Charlie
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  #2  
Old 05-16-2008, 10:28 PM
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Charlie,
Its a great group of guys here, in fact, some of us contact each other via cell phones. Anything we can do to give a helping hand, just put it out there... someone always has a few minutes to help a fella out. Plus, steve is great at keeping the momentum going and getting peoples questions answered.

Hang in there.
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  #3  
Old 05-16-2008, 11:04 PM
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Charlie...
* Your son sounds like a friend of mine whos planing to go into the navy soon, He can't find the job he likes so he figures that is the answer. *I'm not downing the military but once he signs the papers weather he likes the job or not.... *They own your butt. *There's no "I don't like this anymore daddy, I wanna quit & go to plan b". *
* Teach your kid that life can stink sometimes & starting a new business can be one of those times Or it can be great depending on your mindset. *Work in any form is generally just that WORK. * If it's all fun you typically don't get paid for it & they call those hobbies. *But if he starts his own business at least he can call the shots & control his own destiny in it.

Not to mention.... I don;t want this to come off as telling you how to raise a kid, that's not what I mean. but you still have to pay the note on that loan because HE wanted the equipment & dear ole dad stepped in to help. You should probably hold him reponsible for those payments until paid off either way. There are consequenses for our desicions. If I closed my doors now I'd still have payments to be made resulting in a loss of investment in my business. If he chooses to back out It's his loss to bear not yours right? How old is your son by the way? I guess if he's like 15 he's just young & these kinds of things happen at that age. So who knows.
This is just my take on it & what I know my father would have done with me.



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Old 05-17-2008, 10:44 AM
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Hi Charlie,

I was thinking that maybe if you got your son on here and he was able to talk to other business owners, it might inspire him and show him he can do this.
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Old 05-19-2008, 07:17 AM
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Thanks again to everyone for letting me vent a little. To answer your questions Chuck my son is 23 and has already pulled one hitch with the Navy and they are after him to join back up. He is also aware that the note must be paid. His position, if you want to say, in the Navy was a, hu lets just say a task force, so they are really pushing him to come back. I know he has to make that decision. "SO" anyway I thought I could hire someone to keep this thing going. Like I said before I already have one business that I am trying to keep afloat and grow. Again I will more than likely have to depend on you guys for help and it might be a very long row to hoe.
Thanks again to everyone.
Charlie
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Old 05-19-2008, 10:36 AM
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Charlie,

If you can say, what other type of business are you in? Is it a service based business? Is there anyway you can create some synergy out of the two businesses?
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Old 05-19-2008, 07:58 PM
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Steve,
I am a manager/stockholder-owner of an auto, marine, and heavy duty truck parts business. With this, I have some customers that are in the lawn care business that have given us leads on the customers that we have. We also sell lawn mower parts. One of my guys does the service work on customers mowing machines, commercial and residential. We worked together at a John Deere dealership that I managed, years ago. I have passed out business cards to customers and word of mouth to try to gain more mowing business.
Thanks,
Charlie
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Old 05-19-2008, 09:25 PM
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WOW! Well how about that!

Is there anything we can do here to help you promote your other business? Do you have a website? We can get that in your forum signature and let others know about your products!


Also, you had me thinking about something

Quote:
Originally Posted by [b
Quote[/b] ]After helping my son purchase the lawn equipment and helping with his finances (signing an equity note) he comes to me to say he's done he wants no more of this.
I have a feeling a lot of other parents out there really try hard to get their kids started off right and do nice things like you did for your son.

Could you give our forum readers advice on how best to handle a situation where a child wants a parent to help them take out a loan for a business? What should they do or shouldn't they do?
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Old 05-20-2008, 08:45 PM
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Steve,
I had to laugh when you asked to give advise. I feel I am one to give it. You know we have always been there for our childeren. Please, don't get me wrong we are not a family that hands them everything they want on a silver platter. We have tried to teach them to be responsible, put others before yourself and always, always, remember family matters. And one other thing, never forget your maker, the Lord above, he is always there for you. We have been very blessed with two childeren. One as you know 23 (son) and another 17 (daughter). We have went though are share of tuff times together which I think it has made is a tighter family. I know this sounds like a TV program. I always say, problems are not the problem it's self, the problem is how do you handle the problem. I agree they can be really tuff.

About helping your childeren with financing, I think first you need to really have them understand how serious it is. It can be good our it can be really bad. You try to show them this. Our childeren have seen how hard the wife and I have had it in the past with finances which has showed them the importance. We also have tried to explain and show them what you can accomplish with hard work, whether it's in your school work, your job or just raking leaves or mowing grass. (ha,ha)

The hardest thing I faught with before I agreed to help with the loan was how committed will my son be. And I guess at this point I really read him wrong. One thing we have done in the past with borrowing money is to make them work for a part of it. Like when he bought his first car. We had to save some money for half of it and we would help with the rest. That worked great. He bought the car. Before he did this, we had a talke about money that he would need for insurance etc., which he was going to have to be responsible for.

So I guess the only advice I can give is do the best you can in helping your childeren, but first and formost teach them responsibility and the importance of that.

You know, one thing keeps coming to my mind is what my mothers doctor said to me aftr she past away. She said that she was always worried would we be ok if she *wasn't around. So that is what I tell our childeren I want them to be ok.

I am sorry I have went on and on. This forum is really not he place to do this.
But, Steve thanks for having faith in me to ask the questions you have asked.

Please forgive me for my spelling. Thats way I married a school teacher so I could *have a live in spell checker, but she has went to bed on me.

Thanks again over and over to everyone.
Charlie
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Old 05-20-2008, 10:32 PM
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Hi Charlie,

Quote:
Originally Posted by [b
Quote[/b] ]I am sorry I have went on and on. This forum is really not he place to do this.
But, Steve thanks for having faith in me to ask the questions you have asked.
I think that was a fantastic response and I feel this is the place for it. There is someone right now reading this and finding themselves in the same situation. In fact there will be more readers and forum members in the future who will read this and appreciate you spreading your words of wisdom to us all.

There are many many entrepreneurs who are sitting down right now and thinking, what do I need to get started.

As a business owner.

Do you feel that when one is starting a new business, should they get started with the absolute bare bones minimum they need to get started or should they step into the game well prepared to do battle with larger competitors?

Can both ways lead to success or is one more advantageous?
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