Tim Vipond ⋅ Deland, FL Tim Vipond AMSOIL Engine Lubricants and Filters ⋅ 14 years experience

Why don't you start a business in which you don't need capital? That is exactly what I did 14 years ago and never needed capital. More info athttps://www.amsoil.com/lander/join/?zo=1181889 . I'll be glad to provide any help you may need. As a mechanic in Alaska, you are in a great position to start your own business with no capital.

Nancy Quartey ⋅ Palo Alto, CA ⋅ 1 years experience

Hi James,
As a Career Transition Coach I help people who are considering business ownership. I help clients define their goals and evaluate business options based on those goals. I also have great funding referral partners, especially for veterans. I think the best thing is to research your options and know the facts so you can work toward a financial and business goal. It might be closer than you think! I would love to talk to you about it more. Please email me at nquartey@esourcecoach.com and we can set up a time to talk.
Best,
Nancy

Arnie Scott ⋅ Stratham, NH MFS Investment Mgt. ⋅ 35 years experience

James,
Thank you for your years of service. I hope that I can help you with my answer, which is a bit more simple that the first 2.
There almost certainly will be a lag between the time you open the door of your new business and the time that it generates income. So, you must know how you will put food on the table and keep a roof over your head during that "dry spell"! If you do not know the answer to this question, then do not start a business, get a job which pays a salary!! I do not mean to sound harsh, but I do not want to "sugar coat" the pill. Starting a new business is exciting, but extremely risky! So be certain that you have your home responsibilities covered before you start down this road!

Paul Trejo ⋅ Austin, TX University of Texas at Austin ⋅ 40 years experience

James,

Thank you for your years of service. In my experience, here are the seven key skills you must solidly master to win with your new business.

1. Stock holding your own stock and assets
2. Personnel hiring, firing and benefits
3. Formal accounting at all levels, including A/R, A/P, G/L, FA, Cost Accounting and Financial Reporting to IRS and Investors
4. Sales techniques, sales relationships and commissions
5. Documentation of Assembly Line Training (including patents if any)
6. Marketing Surveys of satisfied and unsatisfied customers
7. Advertising to raw public

This is a list of "What Could Go Wrong?" with any business. To ensure that you have these solidly in your grasp, volunteer (or intern) in a friend's company to observe these standard departments in action.

Best wishes,
--Paul Trejo

Stuart Egrin ⋅ Troy, MI western & southern life ⋅ 36 years experience

What type of business are you looking to get up and running?