Being an ex-programmer (mainframe & web) I think many people overlook one of the most important parts of a system/website...the rules. I`m currently developing a new spin on an old idea for a new website. I`ve spent maybe 200+ hours working on the business rules and what I want the system to do. If you are doing something other than basic ecommerce you will likely need to spend a LOT of time designing the business rules and how everything works together. This helps to drive your database and types of pages you`ll need to accomplish all the work/rules. If you are building a social site you`ll need to spend most of your time on the rules. When I used to develop computer systems we spent 50-80% of the project time working on rules and design. The coding was almost an afterthought by the time you got to that part of the project.
All good points! My main method to succeed in whatever venture I undertake will be a combination of hard work, knowledge, customer service and passion. Failure is not an option. Of course this doesn`t mean I won`t change course I just won`t fail. I may have to adjust what I do but I won`t be going back to cube life. The "twist" I mentioned is a theme I want to implement to help me gain market awareness. I will use as much marketing as possible to gain recognition. Without a theme it seems like it would be extremely hard to stand out. There are 100`s or 1000`s of Realtors in SoCal. I`ve reviewed so many Realtor pages here and there and they are just so lacking. Nothing stands out or pulls you in. I`m trying to formulate something that I can "market".
My relocation is a family choice. We would be relocating even if I stayed in the corporate world. But, since we are relocating we decided to make a clean break from the corporate life as well. WTH, you only live once, right?
Of course this may all change as an old friend of my wife`s as propositioned us with a partnership on a new venture that isn`t RE. We are considering the offer. Choice is good, right?
I`m with Craig. I`m just getting ready to start a venture and for the last 20 years (literally!) I`ve "brainstormed" hundreds of ideas. I just never had the courage to do something about it. Even now as I thought I knew what I wanted to do an old friend of my wife`s has propositioned us with a partnership. So yet again, I`m running the numbers and analysis on something new. We are definitely going to do "something" but we are waiting on the sale of our home so we can relocate to where we want to live/work. This is giving us a little more time for research.
I have heard that sometimes it is better to set each company up as a separate entity (LLC, etc). This may afford protection of one from another should something drag one down. I have no experience here but just wanted to provide food for thought. I would seek legal counsel before proceeding.
Craig: that is one of my biggest fears. That even borrowers with the slightest mark against them won`t qualify thus driving the housing market down even further. The unsold inventory is very high. People need to relocate for various reasons and when they can`t sell their home how will they be able to do it. I do fear that we are still a ways from the bottom. The market I want to work in is more affluent with higher home prices and incomes. I`m starting research now to see if this type of market still works. The more affluent folks are not as held back by credit/income issues. For instance, I have some MLS reports, by zip code, on single family detached homes showing avg-days-on-market around 65 days for the year 2006 and around 70 days for the year 2007. YTD through end of April 2008 shows DOM around 75. I would be tickled pink if it only took 75 days to sell my home. It has been listed for 14 months and we`ve dropped $90k on the asking price. My market is severely down. So even though the inventory is high in my target market it does appear that things are moving.
Any tips on additional research I can do for my target area? I`m hoping that using great marketing techniques I can set myself apart and raise my name recognition. It is my opinion that during the market boom most agents didn`t have to learn marketing to make money and now many are unprepared. My wife is a former PR specialist in earned media. She will be my parnter in this venture.