Forums: Discussions for entrepreneurs and small business.

I owned a recruitment advertising agency for 8 years and had invested a great deal of money into developing an online product that was very unique to the recruitment space and was positioning myself to secure funding. Then came 911. The country as well as the market took a tremendous hit, and after trying to stay alive for 2 years, I lost everything. My company and my credit was gone. I still have all that I developed at the time and to this day no one has developed a similar product, so my window is still open. I`d be interested in hearing advice on how to start from scratch again especially when your personal credit has suffered.  Thank you in advance.

You don`t need advice on starting from scratch again, you been there done that.You need to re-visit getting your product to the end user.Does anyone use your product?Does it cost you any money if they do? If the answers are no and no you need to let some one use it for free and if it is as good as you think, your new journey will begin.If the answers are yes and yes or a combination of the two it`s a different story.If there is a will there is a way.Go get em !

 

If you have a unique product/business idea consider reviewing "Could we Create a Business Together?"   Business / Product ideas are being submitted.  All Sun members are welcome to participate.

Deontis,
I don`t want to add more to what you might have heard already. But why did you use your own credit and information to establish your business? If you where already 2 years strong into your business why didn`t you consider Incorporating?
I hope you have learned a hard lesson... and if you are going to do things right this time, before you even start to put up business signs everywhere, consider incorporating. Then, there`s not need for you to start from scratch, what you need to do is pick up where you left off, ONLY this time be more careful. Be careful in the sense that, I am pretty sure you are swamped in debt, and those creditors and bill collectors want their money. The last thing you need for them to know is that you are back in business using your social security. They will go after the business and put a hold on your bank account.
If your product is as good as you say it is, don`t settle for less. Its time to go after your dream.



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Edgar Monroy
Web Developer / Owner / Consultant
When starting your own business the need to "know-how" is greater than money!
http://www.nuevolution.net

You might also want to see about setting up your business credit.  Go to htttp://www.creditboards.com and look at the forum on building business credit. It will prove invaluable.  It sounds to me like all is not lost. If your product is still unique, and you had people that used and liked it, you still have a viable product.  Marketing will be your next goal.  Good luck. 

Blu

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http://www.startupnation.com/leading-moms-in-business/contestant/12907/index.php

deontis,

I am always amazed to hear people say they lost everything after a major set back. Truth is, you have more than what you started with. You have your spirit, ideas and a marketable product. These will stay with you to the grave. Credit on the other hand, fluctuates with the season. Six years ago, my credit rating took a major hit. Now I have an A-1 credit rating with a credit score well in the 700’s. So push forward and upward.

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The older we get, the more excuses we make for not chasing after our dreams. But truth is, goals are attainable at any age.