Starting a PC Repair Business (entrepreneur.com) - Great article with tips to get you started on the right foot with your computer repair business.

Tips for Incubating your Small Business Idea While Still Working Full-Time (elance blog) - Anita Campbell, from Small Business Trends, wrote this guest post for Elance.  It offers some excellent tips for folks like me who are running a small business part time along-side a full-time job.

Make Better Use of Downtime (Technibble) - If you’re seeing a downturn in work for you business recently, this article shows you ways you can make productive use of your downtime.

Girlfriend 5.0 (Alex Shalman.com) - HILARIOUS computer geek take on relationships!  Thanks to Eric for the link!

10 Things to Check Before You Start Working on the Help Desk (TechRepublic) - Having been on a help desk in some capacity for about 5 years myself, I’d say this is a must read for any of you computer savvy folks that are thinking about getting a job on a help desk.  Surprisingly it’s more about politics and policies than it is about technical knowledge!

7 Reasons to Blog About Your Business  (Legalzoom) -  If you haven’t done so already, start a blog about your business, or about starting your business.  I can speak from experience that it’s not only fun, but also extremely helpful!

As always, don’t forget to checkout my Resources page, which I am constantly updating, for more link goodness!

Enjoy and I’ll see you all after the weekend!

In one of my first posts here on Y.F.N.C.G., I outlined the first first few things I plan on doing to get my computer business up and running.  Up to this week I had completed four of them:

Have a business plan
Come up with a name
Register the business name
Start finding ways to make money

And now, this week, I have reached another important milestone in the preparation of my business, opening a bank account for my business.  If you’re wondering why I think establishing a business bank account is necessary so early in the planning process, I’ve listed some of my reasons.

• -Keeps your business money separate from your personal money.
• -Gives you access to lines of credit (essential to some businesses, but not mine)
• -Merchant account for processing credit cards (something I will take advantage of down the road, I’m sure)
• -Can accept checks written to your business

The Quest

About two weeks ago I set out on trying to find a business checking account that fit my needs.  The first thing I needed to tackle was figuring out what my needs were exactly.  After doing some quick and dirty google research, I realized most banks offer some form of a Free Business Checking account for start-ups like myself.  They all offer things like no minimum balance, no monthly fee, online banking, and a debit card.  The catch is that they put a limit on the amount of transactions you can complete per-month, which makes sure that only small businesses, and not large corporations, will be able to get away with free checking.

Once I knew what kind of bank account I wanted, I hit the websites of some of the major bank branches.  What I came to find out is that some of the biggest national chains really don’t have business bank accounts that suit he small local business owner.

I then started digging into some of the more regional and local branches.  They all had much better plans, truly “free” checking with no hidden fees or minimum account balances.  It was then time to figure out what made these banks unique from each other.   I came up with a list of…

7 things to look for in a local bank that will set it apart from the rest:

1. Hours - This is the number one most important thing for me.  Being that I’m starting my business as a part-time thing, I’ll be working mostly evenings and weekends.  I want the flexibility to be able to deposit money late in the evening and weekends.
2. Branch Locations - This is another really important aspect for me.  I want someplace that has a good number of branches in my county, plus the convenience of a branch close to my house and my “day job” office.  I’m gonna be driving enough as it is, I don’t need to waste more gas depositing my earnings.
3. Fund Availability - When you deposit money, how long does it take to post to your account and become available?  Banks range from same day to 3 days, so this is a question to ask.
4. ATM Fees - Although all the banks I researched offer debit cards, only a small handful of banks offered free use of their card on OTHER bank ATM’s and fewer still offered refunds on the fees those other banks charge for using their ATM.  I don’t plan on using the ATM alot with my business, but it’s nice to know that when I do, I’ll be covered.
5. Personality of staff - As a business banker, you’ll be dealing with the tellers and bank manager a lot more than you probably would be as a normal bank goer.  Make sure they’re the type of people that you’ll look forward to working with. I also see employee moral as a reflection of how well the bank is going to treat me.
   
6. Reputation of Bank - Make sure you do some quick research online and ask your friends about the bank you’re thinking of choosing.  Some banks have a bad reputation and you want to avoid those.
7. Monthly transaction limit - The final difference to note is the monthly transaction limit.  By signing up for a free business checking account, they will put a cap on the amount of transactions you’re allowed to make in a month.  I’ve seen it range from 50 to 300 in the banks I looked at.

So Tell Us What Bank You Chose Already!

After weighing all my options what bank did I finally settle on?  TD Bank was my choice.  It used to be Commerce Bank in my area, but was recently bought by TD Banknorth in the Mid-Atlantic, Metro Washington, DC and Florida Markets.  TD Bank is a sister company of TD Ameritrade, the largest online brokerage in the world.

What attracted me first and foremost to TD Bank were the first two things on my list above, hours and location.  TD Bank calls itself “America’s most convenient bank”, and that’s no joke.  There’s a branch right down the road from my apartment (the closest bank to where I live) and there’s a branch down the road from my office.  Here’s the kicker….the bank is open until 8PM on weekdays, 6 PM on Saturday, and 4 on Sunday!!  Yeah, that’s right, evenings and ALL weekend long.  This was the only bank anywhere near me that offered these kind of hours.  They also offers same day fund availability and 300 transactions per month, the highest of any bank I visited.  To top it all off, the staff there was super friendly and very helpful.

Too good to be true?  We’ll find out.  Believe me, you all will be the FIRST to know if something goes wrong with these guys.  But so far, I’m in love.

Keep in mind that when you go to open a business account, you’ll need to have some documentation:

Photo ID with current address.

EIN - Employer Identification Number - a unique business tax number assigned by the IRS which you can apply for here.

Trade Certificate or equivalent document that proves you are a business.  This is obtained when you register your business.

That’s it.  Nothing too complicated, just make sure you do your homework because, although you can always change banks down the road, it saves a lot of hassle if you go with the right bank the first time out.

What experiences have you had with business banking and what bank do you use?

“I saw a bank that said ‘24 Hour Banking’, but I don’t have that much time” - Steven Wright

The book I’m reviewing this time around is Computer Business Lessons Learned by Daniel Hand. I found this book while searching online for information about starting a computer business. One thing that grabbed my attention about this book were the words “Lessons Learned”. That tells me that the author has already had his trial by fire and he’s ready to share his insights. The website says that CBLL is “a true book that reveals exactly how to be successful in the Computer Repair Business.” Does the book live up to the hype? Lets find out…

What’s it about?

In Computer Business Lessons Learned, Daniel Hand takes all of the aspects needed to build and run a computer business and expands upon each one with his own personal insights and experiences. The book reads more like a manual or handbook for the computer business owner and every chapter can be referenced independently so you can skip to the sections that interest you.

In the beginning, the author introduces himself as a retired Marine who decided to use his customer service and technical skills to pursue his dream of starting a computer repair business.  He immediately admits that he is not an expert at starting a successful business, merely a business owner willing to share the techniques that led him to earn over 100K a year owning his own computer business. The rest of the book concentrates on the nuts and bolts of starting and running a computer repair business including getting established, marketing, hiring, reselling, and outsourcing along with essential work-ethic related topics such as customer service, following through, and taking notes.

What do I like about it?

Like the book Start You Own Computer Business, which I reviewed previously, CBLL draws heavily from the experiences of the author. Unlike the former, the latter gets very specific and keeps things short and to the point. This is a good thing, as people who read books about starting a computer business normally are not interested in being entertained, they’re interested in hard facts and practical advice. CBLL delivers this in spades. The book is chock full of useful information, going so far as to include examples of warranty agreements, service contracts, and business proposals.

The best thing about this book, however, is actually not the book itself, but the extra stuff that comes with it. Once you purchase the book, you receive a personal email from the author which gives you the location and password to an exclusive section of his website that offers sample documents, forms, and agreements that he’s used in his computer business. This stuff is invaluable and is certainly the result of many years of hard work and trial and error. Not only that, but through that initial email the author makes himself available for correspondence in case you have any follow up questions about the book.

What do I not like about it?

If you’re looking for a polished and perfect publication in CBLL, look elsewhere. The non-nonsense tone of the book transcends the words on the page to cover the entire presentation of the book itself. It’s bound together with metal ring binding and the pages are laid out and organized with all the flare of a college term paper. I also noticed quite a few typos along with a smattering of grammatical and spelling errors throughout the pages of CBLL. All of this gives the first impression of a cheap book that was assembled at home. These are all superficial fallacies and can be easily overlooked, but I wanted to make sure I mentioned them because I do feel they have an overall effect on the quality of the book.  The price is also slightly higher than other similar books on the market, but this may be due to the extra online content that you are given access to, which is all very useful.

The final verdict.

Computer Repair Business Lessons Learned is a straight-forward, no-frills guidebook for people like me who are starting their own computer business.  The book hits all the major topics and events one might run into while starting and running a consulting or repair business.  Although the look and organization of the book can be off-putting at first, the extra downloadable content and personal contact form the author make it well worth your time and money.

The real star of this book is the author himself.  Not only does Daniel Hand own and operate his own successful computer repair business, but he also founded NACRBO, the National Association of Computer Repair Business Owners.  NACRBO is a trade association of Computer Repair Business owners.  On top of all that, Dan is also inventor of a novelty gift for computer technicians, PC Dice.  Oh yeah, and he wrote a book or something.

This book, along with it’s author, are the definition of personal service. If you still have any doubts, check the inside cover of the book after you buy it and you’ll find Dan’s signature along with the hand-written note: “Best of luck”.  Your luck will surely get a boost with the help of this book and all of Dan’s resources.

Other book reviews from Y.F.N.C.G.:

1. Start Your Own Computer Business: The Unembellished Guide.

Create a Report of Installed Hardware and Software with WinAudit - the How-to Geek - A review of a cool free tool that allows you to report on nearly everything that’s been installed on a computer, hardware and software.  Even better, it can be launched from a thumb drive for easy portability. 

Businesses warming up to the iPhone - cnet news - Looks like the iPhone is here to stay folks, and if you support business users, you may want to add iPhone to the Blackberry on your list of phones to become familiar with.

Get a Mac Ads Archive - apple- Keeping on the Apple theme, although I don’t own a Mac and I still believe Windows has a superior operating system on many levels, I can’t deny that Apple has style.  I especially love their Get a Mac ads where they pit the cool, young, easy-going embodiment of a mac against the awkward, older, geeky PC.  While the actual facts of the commercials are questionable, and they often deliver low blows and sucker punches to Microsoft, I usually always laugh out loud at them.  So, I set out to find an archive of the commercials online.  I hadn’t realized they’d been going for three years now!

Using Linkedin As A Small Business Owner - Small Business Trends- LinkedIn is finally coming into it’s own as a necessary social tool for business owners.  I’ve had a profile on LinkedIn for a long while, but only recently started updating it and using it to it’s full potential.  So go check out my profile, sign up (if you aren’t already), and link up with me!

Also, don’t forget to checkout my Resources page, which I am constantly updating, for more link goodness!

Enjoy the links and I’ll see you back here with a new article after the weekend!

Word-of-mouth

This is by far the cheapest form of advertising.  It requires nothing more than some mild networking skills and that you make sure you do a GREAT job on your first visits.  Talk to EVERYONE you know about your new business.  Tell them to tell their friends.  Once you perform a stellar job or two for your friends, or friends-of-friends, your name will be at the tip of their tongue the next time one of THEIR friends has a computer problem.  This is where your customer focus really comes into play.  You have to WOW your customer the first time in order for this method to really be successful.

Business Cards

This goes hand in hand with word-of-mouth.  To aid the sales pitch you give to your friends, have a business card handy.  Put your business name, phone number, website, and basic services offered on the card, nothing fancy.  Pass it out to everyone that you tell about your business, so they will have a reminder when that inevitable computer issue does surface.  Business cards are cheap, portable, personal advertising.  VistaPrint.com offers the best deals for business cards(affiliate link) that I’ve been able to find. They’ll often have deals where you can order a small number of cards for free…all you do is pay for shipping!

Craig’s List

This is another great FREE advertising opportunity.  A lot of people are searching Craig’s List to find cheap local services.  Although not the most perfect method (you have to update your ad once or twice a week so it stays at the top of the listings) it can be a great supplement to your other advertising and you can’t beat the price!

Flyers

This is a tried and true (and cheap!) method of guerrilla advertising.  Make up a flyer that details some of the services you offer.  A good trick is to include some sort of discount for the customer when they mention the flyer…that way they feel as though they need to act on the flyer in order to take advantage of the deal.  About.com has a great step-by-step article about making a killer flyer.  Another great technique is to include the little tear-offs, like this, at the bottom of your ad which include your phone number and website that people can take with them.  Post the ads at your local coffee shops, grocery stores, libraries, and other places where public bulletin boards are displayed in high traffic areas around where you will be working.

Roadside Yard Signs

At $6 a pop, this is the most risky and most expensive tactic…but one that I’ve seen work at an overwhelmingly successful rate when implemented properly.  You know those little signs you see stuck in the dirt or grass at intersections?  Normally they advertise yard sales, real estate, or political issues.  You can make a few dozen of these for your business and put them at intersections (preferably with stop lights) around your home.  They command the attention of the idle commuters that wait at the intersection for a red light to change.  All you need to put on the sign is something very simple and to the point like “HOME PC REPAIR” or “SMALL BUSINESS COMPUTER CONSULTING” (or whatever service you might be offering) and then your phone number.  No website needed, as the vast majority of people will call you right then and there.  Also, the fewer words, the better, as fewer words allow the lettering to be bigger and therefore more visible to the drivers from their vehicles.  If someone was thinking about their broken computer while driving home from work and they see your sign…they will more than likely be inclined to give you a ring while it’s on their mind.  Again, I’ve heard about the success of this method first hand from some friends of mine and I can’t wait to try it out myself.

I didn’t include some things that you may have thought I should have.  Here are a few that I can think of, and reasons why they are not included in my plan:

1. Phone Book - This can be a bit pricey, with monthly fees, for the new or part-time business owner…and it’s harder to target specific local regions if the phone book covers a wide area.  Also, your business will be crowded in-between dozens of other businesses offering your same services, making it hard to stand out.  This should definitely be in your arsenal once you take you business full time, otherwise it may not be worth the investment.
2. Newspaper - Even more expensive than the phone book, you’ll need to make sure your ad shows up every day, or at least every week, in the paper in which case you’ll be paying for EVERY showing.  Since people only read the day’s paper briefly, and usually only once, before it goes to line the bottom of the bird cage, it’s very hard to catch people’s attention.  If you’re running a full-time business, and you have a special one-day sale or promotion coming up, the newspaper may be a good tool, otherwise skip it.
3. Website - At this early stage of my business, my website will simply be for informational purposes only.  It will not be cost effective for it to be an advertising tool until I’m able to spend the money to make it look professional and include some form of online order form.  Until then, it will simply be a way for people to get more information about the services I offer and the ways in which they can contact me.
4. Web ads - Ads online have limited value for local businesses like computer consulting.  This form of advertising works much better for national products, or products available for sale on the internet.

I will be sure to report the success and lessons I learn after implementing each of the above techniques.  For all your small business owners out there, what are some of the advertising techniques you’ve tried, and how successful were they?

Additions to the Resources Page (over there in the upper right corner of this site):

• New Advertising Section - This section will contain advertising resources that I have used for my business.
• How to Create a Flyer - Article on About.com with step-by-step instructions on how to make a quality flyer for advertisments.
• Craigslist - Free local classifieds that have become increasingly popular recently.

 

10. We can make fun of you without your knowledge using geek code like ID-Ten-T or PEBCAK.

9. We know where you live (and if we don’t we can get a rough estimate using your IP address!)

8. We probably know most of your passwords, whether you told them to us or not.

7. If we’re not available to fix your computer problem, we’re more than likely friends with someone who is.

6. On the same token, if you threaten us by saying you’ll go to another computer guy, that guy is probably our friend too.

5. We have the power to change the passwords to your entire city.

4. We may hold the only copy of the goverment’s intelligence data in our brain.

3. No one ever calls us to say that their computer is running great.  We’re starved for good news!

2. If two different clients both have URGENT problems at the same time, we’ll help the nicer one first.

And the number one reason to be nice to your computer guy….

1. If you cross us, we’ll blog about you.

Forward this to all your tech friends for a good laugh, and forward to your non-tech friends for a good reality check!

Thanks to Bill Greenburg and Eric Hamm for their help with the list!

Don’t let this list stop at 10…what reasons can you think of for being nice to your computer guy?

I started my interview series last month, with an interview of computer consultant and blogger Eric Hamm.  Through that exchange I gained insight into the importance of putting your consulting customer first and really separating yourself from the competition by providing superior customer service.  Also, I learned that traditional advertising isn’t always the best route for a new computer consulting business and word of mouth and reputation can also be effective ways of gaining new clients.  I was excited about the insights I gained from this interview and was looking forward to learning from other consultants.

A couple weeks ago I posted an article called When is Enough Enough? in which I quoted a user named “Prime Suspect” from the forums at Icrontic.com.  Mr. Suspect responded to my blog post and introduced himself as Brian Ambrozy, none other than the Editor-In-Chief at Icronic.  In speaking with Brian I found that he too had his own computer consulting business before he chose to tackle Icronic full-time.   You can read about the soap opera-like history of icrontic.com here, but for the purposes of this article, we are going to focus on his earlier consulting business.

Brian was kind enough to allow me to share his answers to some questions in relation to the consulting company he ran successfully for 8 years.  He brings a unique no-nonsense attitude to advising others about starting a computer business that I think helps cut to the heart of what this game is all about, passion and freedom.

Can you describe your business, the services you offer, and how long you’ve been running it?

Sarcnet industries provided consulting, network design, network installation, server and desktop installation, support, and maintenance for small businesses. We also provided managed hosting for clients with unique hosting needs. We were in business from 1999 - 2007.

What were the biggest obstacles you faced in getting your business off the ground?

Providing assurance to my new wife that there would be a steady source of income to support our young family. We had a new house and a new baby. I had to convince my family that I wasn’t insane- including my parents, grandmother, etc. The biggest obstacles were mental.

What were the biggest factors that motivated you to start your own business?

The single biggest factor was that I recognized a need for my services. Small businesses with under 20 employees often had 5-20 computers but no one to set up or maintain a proper network. They usually had a neighbor kid, or a cousin, or some part time person who came in when “he had time”. Small companies need a network administrator, even if they can’t afford the salary of one.

Did you create a business plan before starting your business or afterwards? Why?
No. I never really felt a need to commit it to paper, since the passion was so firmly in my head.

What freedoms do you feel you have been afforded by working for yourself as opposed to working for another company?

All freedom! Freedom from someone elses schedule, from someone else making rules that you may not agree with, from structure that you are philosophically opposed to, and countless other things. Working for yourself is complete freedom FROM working for another company. The only thing you give up is security, and even that isn’t guaranteed in today’s wild economy.

What have been some of the biggest challenges you’ve faced as a business owner?

The biggest challenge was losing 3 clients in a tough economic climate - two of them went out of business within the same six month period, and one could no longer afford our services. In a single year, we lost over 40% of our client base due to trickle-down economic woes from the automotive and manufacturing industries. [Editors note: I'm sure this situation can apply to many more people in the current global economic climate and this is one of the biggest risks in running your own service business.  I feel it can best be avoided by ensuring you have a diverse and extensive client base.]

What is the strangest or most humorous experience you’ve had while working with computers?

Finding a family of mice inside of a customer’s PC. Actual live mice.

If you had one piece of advice to give to someone who is looking to start their own computer consulting business, what would it be?

Don’t do house calls. Focus on business clients.

Mice?!  Wow, that’s a new one.  I guess we can add “pest control” to the list of skills required to be a successful computer guy!

As you can see, Brian was able to recognize a need for his services and capitalized on that need with very little formal preparation.  This is one example of how passion and determination coupled with skill and talent can merge to help one realize a dream career.  Of course, I will need to find my own successful mix of these elements in order to grow my own business, but it’s encouraging to hear stories of others who have done well in this business.

You can find Brian hanging out at Icrontic.com under the name Prime Suspect.

Previous interviews on YFNCG:

• Taking Care Of Your Customers: An Interview With Eric Hamm

Cnet, in my opinion, is the best independent consumer tech news and review site on the internet.  Any new gadget ranging from computers to TVs, phones to cars, and everything in between, is previewed and reviewed on this website.  As such, it gets a lot of traffic from the general masses.  That’s where you come in, my tech savvy friends.  Folks post all kinds of questions on the forums at Cnet and they’re hungry for answers.  This is a great place to see a lot of the same problems you’ll come into contact with as a computer tech.  You can then test your people skills as you try to explain the solution.

Yahoo Answers

Yahoo answers takes the forum experience a step further by allowing users to post specific questions which can then be answered by other members.  The asker is then able to pick the most helpful answer and mark it as the “best answer”.  This is helpful to you, the computer consultant, by giving you an idea as to what kind of answers other people perceive as helpful.  It can be a bit sobering when you realize sometimes the most correct answer is not always rated the best.  Being helpful and going the extra mile with explanations and links will really seem to be what people crave.  The problem here is that it turns into the wild west sometimes, and people either forget to rate an answer or pick a totally outlandish unhelpful answer as the winner.  There also seems to be an abundance of younger folks on Yahoo Answers.  If you can overlook these things, then Yahoo Answers is a vast resource for practicing your troubleshooting.

Fixya

That’s all well and good, you say, but if I’m going to be spending all my precious time answering questions online, I should be compensated!  Well look no further than Fixya.  This website works much like Yahoo Answers, but is specifically geared toward tech support.  Even better, it rewards the answer givers with monetary compensation once they build a decent reputation on the website.  You gotta keep on the ball though.  You have to have answered 30 questions successfully in the last 30 days in order to start getting paid.  Once you get to that level, then you can earn various amounts of money for your answers, from $4 to $10 each depending on how fast you are and how good an answer rating you get from the question ask-er.  Though this one requires a little more commitment, the rewards are better than nothing.

Experts Exchange

This site takes the same premise of Yahoo Answers and Fixya to the expert level.  Experts Exchange is where tech guys like me go to get answers.  You have to be a member of this website to ask or answer, but it’s well worth it for the working tech.  I have a membership to this website through my “day job” and I’ve found alot of valuable info here.  If you really know your stuff, especially if you’re an expert in a specific computer niche, then you can be an ‘expert’ on Experts Exchange also.  I’m not sure if they reward the experts with money, but experts do get promoted to different levels of the website depending on how many correct questions they answer.

Between those four websites you should have enough food for any sized appetite for fixing.  Jump right in and see if you have the knowledge and skills to troubleshoot common computer issues.

Are there any websites that I missed that offer similar services?  How do you keep your troubleshooting skills sharp?

Updates to Resources Page:

1. New heading: “Practice Troubleshooting”.
2. Linked to Cnet Forums.
3. Linked to Yahoo Answers.
4. Linked to Fixya.
5. Linked to Experts Exchange.

While thinking about the long-term plan for my computer consulting business, I’m constantly struggling between two scenarios: continuing to run my business part-time indefinitely along side my “regular” job working for someone else, or making it my full time gig.  Should I try hard to turn my little computer repair business into an all-consuming career, or simply keep it as a side-operation to supplement my stable, well-paying corporate job? 

It’s a tough question with no easy answer.  I’m satisfied with my career and how it’s progressed thus far.  Some days I feel like it’s a bad move to throw a wrench in the spokes of a fast moving successful career working in the IT industry, but at times the fire in me burns for something more.

To try to alleviate some of my anxieties and make an attempt at understanding it all, I decided to pit full time against part time in a battle royal of ideals, realities, and everything in between.

Keeping my business Part-Time

Pros

1. Steady guaranteed paycheck from my “day job” in addition to the extra income from my part time job.
2. I can use this extra income however I please: save for retirement, travel the world, or buy lots of cool stuff.
3. No worrying about where my next customer will come from.
4. I can choose to drop the business without suffering any major consequences.
5. Or, I may be able to put the business on hiatus for a bit if I get tired of it.
6. If for some reason I do get laid off or fired from my “day job”, I already have an established income stream as a buffer until I find another job.

Cons

1. I will not be able to put the same time and energy into other things in my life.
2. My performance at my “day job” may suffer, putting my employment there in jeopardy.
3. The business will never have the opportunity to see it’s full potential.
4. I’ll only be able to offer limited hours to my customers (evenings and weekends).
5. Even though I’ll have all this money to spend on travelling the world, I’ll have to do this travelling within the confines of my vacation days and “day job” commitments, which are very limiting.

Taking my business Full-Time

Pros

1. I will have the ability to put my full energy and resources into my business.
2. I will have the freedom to work when and how I want.
3. I wont have to answer to anyone but myself.
4. I’ll be available more for my customers.
5. I will have the time to grow my business and potentially make more money than I would in the corporate world.
6. This could be the gateway to other more profitable and fulfilling projects.
7. I would love to be able to write and perform more music as a singer/songwriter and this may give me the flexibility to do that.

Cons

1. I really like my day job and it will be tough leaving it.
2. Even harder, I’ll have to leave behind my daily interactions with peers.
3. If my business doesn’t take off, I will have lost career momentum and will have a tougher time going back into the workforce.
4. I may never make enough money to live the lifestyle to which I have become accustomed.
5. I can’t afford to be lazy and will need to relentlessly seek improvement in order to stay successful.
6. It will be ALOT of work at first, and may continue to require lots of work, therefore mitigating numbers 2, 6, and 7 of the pros.

Above I listed of every pro and con I could think of for each scenario.  Now I’ll tally the results, giving points for the pros and subtracting points for the cons.

The final tally:

Part-time: 6 pros - 5 cons = 1

Full-time: 7 pros - 6 cons = 1

It’s a tie.  Hmm. 

That doesn’t really help me out much.  What this means is that this will still be a difficult choice for me.   For now, I’m going to stick to my 5-year plan and continue my business as a part-time project, with ambitions to take it full-time later on down the road.  This will ensure that I’ll have some buffer money to keep me afloat when I do choose to go full-time, but that still doesn’t help with the decision to take the leap. 

I will definitely be sacrificing certain things by quitting my day job.  The choice to start a full time business in not the safe choice, but I think it opens the most possibilities for me later on.  I’ll need to continue to weigh the options and see what is truly important to me, but I am comforted by the success stories of countless entrepreneurs and businessowners that came before me. 

What do you think about my list of pros and cons?  Did I miss anything?

“Big jobs usually go to the men who prove their ability to outgrow small ones.” - Ralph Waldo Emerson

I decided to kick off this series with the first book that I picked up a few years ago when I first started flirting with the idea of starting my own computer consulting business, Start Your Own Computer Business: The Unembellished Guide, by Morris Rosenthal.  The straight forward title obviously caught my eye and this is the book that comes up at the top of the list of any searches I did online for books about starting a computer business.  Mr. Rosenthal obviously knew there was a niche to fill with this book, but does it deliver the goods?

What’s it about?

In this book, Rosenthal delves deeply into the realistic challenges of starting a computer business.  He starts out by setting the stage with a little story called “Your First Sale”.  The story takes the reader through a role playing scenario as you sell your mother’s friend Doris a computer that you put together yourself.  As you proceed through your first sale, you face the harsh reality of the computer business…that it’s really hard to put together a decently priced computer that works well, and that you’ll be responsible for it if anything breaks.  This sets the tone for the entire book.  Taking time to set realistic expectations in his readers upfront, the book then continues to touch on all of the major considerations that one may need to take into account when starting any kind of computer business, including buying and selling, product development, accounting, infrastructure, and even a bit of business psychology.  using facts, observations, and personal experience with a conservative peppering of comic strips that relate directly to the subject matter being discussed, Rosenthal attempts to paint a dismally realistic picture of the troubles facing those who choose to take the plunge into the computer services industry.

What do I like about it?

I really like the brutal honesty that Rosenthal brings to the book.  The curse of many “Start Your Own…” books out there is that they take an overly rosy outlook on starting something that, in reality, is a challenging and often less-than-rewarding experience, just to sell more books.  This becomes apparent right from the start, with the first sentence of the book being: “Do you need your head examined?”

I also appreciate that the book is written for the beginner who is starting a business from scratch.  For example, a good chunk of time is taken to explain the process of buying wholesale to make sure his readers realize that it’s tough for non-established businesses to get what they need to succeed right off the bat. Because of this small business focus, I found many useful nuggets throughout the book that I feel will benefit me in my venture.  In particular there is one section in which he mentions that direct mailings can be a successful marketing technique, but only if used to target businesses that are big enough to have a few computer systems, but small enough top not have a full-time IT staff.  He emphasizes starting small and working your way up to bigger and more complex undertakings as you gain experience and money, which is in line with the approach I’m taking to start my business.

Round all of that out with some solid advice on business structure and accounting and you have a very useful book that really gives the budding computer guy a serious and practical look at what lies ahead for him and his business.

What do I not like about it?

The same brutal honesty that intrigued me at first begins to seem more pessimistic as the book continues on.  While I don’t mind a spoon full of real life every now and then, the attitude began to hinder certain points the author was trying to make.  At one point the word WRONG in all caps was packed into one short paragraph 6 times!  Rosenthal has been through the ringer in the computer business and he isn’t afraid to let you know it.  The problem is, I think the author’s sarcasm may turn off some people who are excited and enthusiastic about starting their own computer business.

The book goes into a bit of detail surrounding computer sales and commerce, which is not what I’m interested in doing.  As such, I found about 1/4 of the book did not apply to me.  This is no fault of the author’s, as he was trying to cover as much ground as he could and he seems to have had extensive experience in commerce.  He also went into the process of renting office space and hiring employees which again doesn’t quite apply to me at this stage.  But it will definitely apply to other readers, and his stories make the sections that don’t apply to you an entertaining read none the less.

Finally, I didn’t quite understand the purpose of the comic strips that were inserted at random places throughout the book.  They attempted to illustrate some of the authors points in a humorous context, but served more as a distraction.  In my opinion the author’s anecdotes were much more entertaining than these poorly drawn comic strips.  This, of course, is a minor detail, but one that kind of struck me as odd and out of place.

The final verdict.

Start Your Own Computer Business: The Unembellished Guide is a must read for anyone who is debating if they want to take their passion or hobby of tinkering with computers and turning it into a full-time, self-sustaining business.  Morris Rosenthal does a great job at giving personal real-world examples of what you’ll face as a business owner.  The author doesn’t sugar-coat anything and sometimes his approach can be harsh and off-putting.  However, at it’s core,  Start Your Own Computer Business is a refreshing change of perspective from the normal “for dummies” type of books that are currently flooding the market, and will surely give any budding entrepreneur a sense of what it takes to be successful in this business.

Updates to Resources Page:

1. Added Start Your Own Computer Business: The Unembellished Guide to the “Books” section.