I would like to add something. I already made the experience with a local computer store I had for several yeaars with a partner.
- If you partner with somebody make a kind of contract between you and the partner. You should exactly write down which work has to be done by whom (if you don't do this after sometime one of you will start to be unhappy because he is thinking that he is working more like the partner so he should earn more etc)
- Make a companies contract where is fixed what sum of money may be spend by one of you without the need of a signature of the partner (that prevents that the partner wants to buy a nice BMW as business car, even on a credit basis) Be careful, you might be responsible too for purchases like that even if you did not know about them)
- Be aware that in most cases you are fully liable with all your personal money, real estates like your apartment if it is yours to pay open bills if your company has to declare bankruptcy. This may vary from country to country.
- Be lion-hearted!
- Work harder than you ever did (minimum 50h / week)
- Do not take holidays in the first years
- If you are married or living with a partner be sure that your partner will fully support your adventure of your own business! This is _very_ important.
- Be aware that you need to work even if you have become ill - nobody is doing your work if you don't do it - nobody will pay you if you are ill
- Be aware that you surely have to pay higher health/social insurance fees. This may vary from country to country.
- Learn to use the marketing power of the internet to spread the word about your company - to find new clients - to communicate with existing clients.
- Learn to network on the internet. This is essential.
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I wish good luck to everybody who will take the risk!
Do not hesitate to contact me if you have further questions e.g. about marketing and networking on the internet.