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Episode · 10 months ago

EP17: Starting a business

ABOUT THIS EPISODE

What is the most painful thing when starting a business? Making money,huh? 

Well - I personally (Milovan, cuz how would you know who wrote this?) hate a different thing, WAAAAAAYYYY before that problem comes up. 

Yeah, its pretty obvious. Do we tell ya? (yeah now im talking about both of us even though its still Milovan)

Well, we do literally tell ya in the episode. We talk about best first hire - what to look for - some sucesses etc. 

Let us know what you think

Hey guys welcome back totisbros episode.What's up, it's LAK, hey guys, so this is a first remoteepisode for Asy Yeah. We have no idea how to use proper technology to makethis work as it should be so were with us on that side. Yeah, yeah, tutonop doing a podcast.It's we should remain rename, it maybe t, but the thing is whats wat to movsdo Ta Podcast, and now we tell other people what we think and we can't setup our own audio, properly it'sit's kindit's properly yeah. It's not H.it's not the best. Look its G. I just keep buying more equipment, soyeah. I think I think I need a super expensive Mycar now yeah like golden play in Mike with thasoundproof ooah Os remotely. I think that's exactly what we need MEK comOTEC. not this recording piece were just like actual tech. I think it'sgreat yeah, yeah, more tick is better. So what would you wa cover today, afterweeks and months and years of not doing an episode, so I mean we discusse this a bit. Sohow about talking about how to start a business and not necessarily a textArta, but just any kind of business, Yin terms of what's good? What's notgood, don't do this yeah lfind, wil yeah in terms of you know how toevaliate what you want to do. Does it make sense? And then the part you youlove is the OPS. Then how do you do it? I mean Andhow d. You actually executedAl The bits and paces a piece is fine. Well I absolute. Let's start Watiabtualely hate, I absolutely a admen stuff, Ay addted stuff bring this paper now sign. This papergo back D, go to the bank bank size this paper and then you go back. Thenthey go to you from keeping in the font book iving you go to the register ofcompanies and then you do all sorts of things and it's absolutely avisimal. Iindreadid every single day because it didn't hy, don't make it easier for youto open a company. He has to GE WT tgh, this rigorous heprocess Insur be at least syeah. I mean to be honest with Lov in a country where this stuff is kind ofhard,...

...but you know don't know. Ther areagencies, you can outstource or law offices that you can also oursolvsoutsource most of it. But I agree it's just it's ridiculous, but the thing is:what's also ridiculous is so when you get the business opened up and let's Sathat you avise something with the money that you have in your business account. You have to have a pater of absolutelyeverything. If you don't have a piece of paper from seventeen years ago, youcould be. You know you could be in trouble, it'sthere's Noanway, not to gothat deep into the you know, weeds and Omol that conversation but yeah, it'ssuperli yeah. But how about? Let's talk a bitabout? You know how to figure out what to do. I mean H: What's the what's thething Youd do before you know before actually incorporating a company or you knowdoing first hires? How do you decide what you know what to do and, and youknow I know you had a couple of businesses different ones over theyears, and you know it's just how? How do youdecide what doesn't make sense at this time? What are your strengths? Do you havethe resources to do it? You know, what's you know? What's the startingpoint, yeah I'll tell you one Wheni Wen, I was afootball player and I went with the cliche thing. Thewhere I going to hang out now practicing whee do to well notpracticing. OBVIOUSYTHE CLICHE IS IO my coffee shop without lot Gran, O Lik Anin aboutopening up a copy shop or running a coffee shop, or anything like that,because I thought you know what you buy chears by drinks and your oftiwaor bycoffee wropping. Oh my God, yeah. It's far from the truth. I end up running. I ended up running three differend. Iwanted to start branding it out. It was called Iq Cafe and I want to startbranding it out. So I open three different spots, atone point so own three different onesand Oh, my God, was that painful Business Holy Shit, yeah, it's very competitive. Well, it'soperations, heavy yeah, it's very compartitive, preachis heavy! You know it Marges, not at Greattai. Guess it'sjust avby broad! It's just that just a difficult business! It was not nightclub. It was like a coffee place. I...

...wanted to close it all before. Drunkpeople come in and it wasN'TA Borsofil, but Anya Yeah, yeah close it before big spenders comein. THAT'S SMART! I told you kidding ish Wa whattw, three, twenty four on that time and it Wasit was great. It was a greatexperience, Oly Shit, how Ar Thecitedo again, where I'mGOINGTO hang out. When got do, I can have peoplee come over to my place. Youknow I mean without being that gut ethe bar a com move to my place. Like twere, you doing the thing you know theaccount mi place, drink SAR for free. Do you know it? Obviously, drenks were Never Bo.Foryo drinks watvever be yeah, sure, okay, okay, no such thing is for lunch. So yeah, okay, okay, because I know Iknow people you know come to my place. You know the drinks areon me and Thennte end on the month. It was like on know. I was wooking for nothing, that'sexactly what happened anyway, one of ths PABEFORE Yeu open other to and thenstope oing. That hit was not a great business movel but FHINKU. Now your first hire ninterviewing people who have been in that scene or whichever industry hisbeen super insightful there and just the grueling of no. When you say opsedy, I justcouldn't foresee all the all the things I had to do before. I even had my firstcustomer, for example, because hat te Tor our place down to kind of like pinthe walls and all that er stuff I made the bar I made. I want to do it differentlys, but inany case spending money to get started. It's so easy because you, I did foresee abunch of things that just came up. Oh, this, isn't this doesn't work, but youshould have this and then you can't have something something toopen up your you know outside a patio or whatever, thewhatever. It is, and then that business taught me that micromanagemer is absolutely avismal because generally business you always have tobe omii present, unfortunately, not to say why, but you have to be honetlypresent and it's Tey that easy it' ween not easy. So how did you decide for that? For me, Idecided, because I told you on PAC, saying God. Second second venture thatI had was, I actually got employed after my careerand all that stuff, but anyway yeah...

...the way. Do you decide is what yougenerally like to do. I know it sounds very straightforward, but I did not like ona copy shop, but you didn't know that you like it. I mean it Wa. It seems like a great lifestyle. Iguess yeah it like awesome. If SUKI got my place, your Arme, like I'll, have acouple of drinks so inout I can do whatever I want. No, THAT'S NOAN TAS! Ieven though thoe places were profitable at the end before I sold them all up,anit just it wasn't for me. I realized that, as I was going way deep and intotrying to brand it out an Sett off, you know you have to figure out whatyou like when you don't like, and I know now. I know I don't like this. Ilike drinking coffee at different places, but not mi, because it'sridiculous, I have I get nonjoof it and before you set up your own shop Olbefore you even start doing anything, I woill just start talking to peoplehave more experience than you and that's where I failed at that time. HatI jumped in just because I wanted to have something to do something like formy Ersh fanilier spirit and even though Tolkin People Arit stot easy as much asyou think, but I o at that time. I didn't care much. What others aretelling me an. I urge you guys not to be like me, because you should listen to people whohave more experience, because there are a lot of things that they can offer interms of wisdom and that you might find useful picking upwhat you're going to be starting up. So That's where GN SI CR yeah. I mean it's nome business. Ithere was a period of my life. I did a lot of a lot COMMERC, some consultancyin the Coffeis jop space, and you know tough business iyu no before starting.I didn't heave any idea, and so many opsings margins margins are not that big. Soyou have to be really careful, careful and a lot of people actually just tryto do it and then, like you'l figure out, you know it's. It's a complexxindetry. Actually Super Te Plax, because margins are thin and then youhave to go for volume, but Yo have to Fik the figure out, yeah o Shin Ther.When you figure out your own ficeting, then you have to figure out yoursuppliers and wo supply to have to figure out talking to suppliers fordrinks. Then you have to Piak aroud talking to authorities about Openin, Ilike outside Spane and you have the music stuff. They v the thing o Gettina fridge, an EAPOPO Geta coff machine because they cost like five grand, forexample, O two doesn't really matter. So you have tese one back of coffee.How much coffee you sell Soo Song? It's...

...really that's what helped metremendously honestly incemers ofl working on complents, yeah yeah, it's a big Goo complent yeah,seriously, the elpe tremendously working on complent and how that theyare structured and how they work. Because if I keep playing the fitmargin, you know abollow bottle of Jack orJohnny, then I can. I can figure out otherthings you know so in I would it's a mbaticl experience for me really so,yeah hat! That's that's what my side, you kow one second place, yeah sure. So I mean to me it's about.Why are starting a business. It's like figuring out! Is it like a lifestylething Yo plan on selling it? Are you doing the this iu? Think howmuch funding do you need for what you do? I think, like figuring out themotivation behind it, it will help you decide. I you know how you want toperceive, because it's not the same like boodstrapping using your own money,skilling at your own pace and- or you know, trying to do something bigger orlike in your case, raise some money and open up don t, know fifteen coffeeshops or something like that. I think it just you know Ara any mone. It was all my mind andyeah. I know I know t was a good thing. Ther were be mor,Profitableni sold them up. So the thing that this is a thing. If you want to dosomething big generally iwalls helping people out insome way some sort of way somewhere. You won't because you need people tobuy in to why you're starting on business. The people will buy it. Ifthere's a common, you know kind of alignment withwhat they are thinking and how they perceive a thing or you know, forexample, if you want to help people yeah Meani, my current company, we aretrying to transform the way the world moves, for example, so we ere trying tohelp people how they move right. So if there's that kind of storyline that what you're trying toAnchieveso you can get other people bought in on that mission, I thinkthat's super super important. We don't have that Ewe're. Currently Insurvia.We don't have that mentality to have Avi Asat. We work fora Baycheck, even though wher we open up a company that can go big at leastthat's what I think I might be wrong, though. Well, I think, you're right to anextent. I think things are a bit you know changing. I think a lot of a lotof stuff. You know from the US starting toreach us here, and people are starting to think a bit differently aboutbusiness a bit more globally. I mean...

...still still very very early, but youknow it's it's it's moving! Oh well. Ima My busness moving yeah, it's woing, but yeah yeah, it's about figuring out. You know bigproblems and you know how to solve it and who's going to pay. If you solve it,I mean- and this is all the text start up Montra, but a lot of it can be canbe actually used in doing any any kind of business any kind of I so wat. Iwould wel. I wuld also say when you'R looking a story of business hes, fine,the partner that find a porner yeah ican depend on and that covers a skill set that you don't havebut hes needed. For example, if I were to start a company right now, Iwouldn't be. I would be looking for a partner that would be helping me withthe TEX cite if it's a tect company right, because I don't know how to cod.I don't know the languages and you know lagageeyspeaking, and I mean I understand it, but I don'tknow for me to leave or to build something right. I woull need someonewho woaln cover that piece of mean. While I can e Likme Focuson ops onsaleside just an example, so if you're, a thick guy, yeah Yol want a sales rap ay on that other side, that makes anysense ir sure it makes a lot of sensee. Ithink a lot of diff different compositionswork, like you know, someone doing copy or marketing with tech, or, I think, alot of things Werk, but you know having a parter is super super important andnot only in you know like complimentary way of tenical skills,but also you know just having someone that GIV. You know the being theresupporting you that can compliment you in in maybe avail personality, someonethat can maybe challenge ovail thinking, and you know someone that can tell you that is bullshit. You knowthat that that isn't, you know a very smart thing to do. You know it'ssomeone that will, I don't know like a mutually beneficial relationship. I guess yeah and then what you what you said. I generally I'm a hundred percent behind it that,because what that, when you said, don't look, do that's bullshit, then yitwould just I should, in theory spurt growth, because Youl have to have ahard conversation with that person. Why is that bullshit? Because then you haveto accept them. Maybe your ideas ore, not the best well yeah, but I mean, but I I think ifyou want to build something big, you know you.

You have to be prepared that not of allof your ideas will be. You know great all the time, and you know I justcaving someone. You can have h that kind of open, frank conversation. Ithink it's very available an I wouldn't Shink, very onultly cocial. I would go.I ves thot. I would even say crucial, because if you don't have a hard conversation,the ship will get thrown under the wod and then went under the rug. I meanthen they were at the end of the day. It came Morofinto into something very, very ugly. So Idon't like that. Yeah, I mean sure, but how about how about first hires I mean you donethat yeah, you, you had great ones, some bad ones. What's your pin about that so dependingon the industry, but if, if I'm looking to do sales as almostany compan thats, because that's gon to make money one of the first first first firsthirers Owoul e Ave would be a person that will help set up the text ACPwithin the company in a great marketer do is it? Is it one person or Free Goen? Okay to so hat you can call, issills an eplement and the second is a marketer, but that marketer has themarketer has to have a lot of skills for growth, branding it's one of thoselike Unicorns for all those positions. Yeah. If you look at maybe that seils a Namian necessarily but like ops, Pece, I say op Pece, because you will havepounder selling. You have all that stuff, but you need someone to lay outthe SP someone that will lay out the groundwork, so you're able to scalewhen the time comes are able to grow properly WETI. I come so everybodyknows what they're doing that segment, for example, for me, is crucial becausefee people that come in will feel there's stability, there's alignment, weeverybody knows what they're doing. This is a steady thing that will onlygrow fast. That's the fie that you get or you can go. Anywherehthis is not setup in the homeboarding proceses of Bismall and there's no processes andthen rethe h, a just. You know you noget myself, so you know those Ale bemarketer is crucial because at you know, Thay they have to drive how yourcompanyes presented Hen, look the feel generating interest, not necessarilyI'm not going to be talking about dem, genering, mqls and sqals, and all thatgood stuff t I'm talking about positioning yourself properly andhaving that...

...developing a name in the brand. I thinkmarketing is super special for a lot of reasons. Sure I mean kind of act echo a lot of the thingsyou are saying to me: Nar some of the best for early hires. Are these. Youknow jacksof AL trade. I mean jexoal trade,but you know people that can cover coer different things. You knowso in the tech text paceyouare looking at you know, fullstack developer and youknow marketer. You are probably looking someone that can, you know, do copy bit of design. Maybe some eother things, and I think you know these kind of people can can be very,very valable. You know starting off, but the thing is you know: What do youdo with the Jacksoal Trad and W en the company skills and then the name of thegame kind of starts to be specializing in different. You know tack, differentpiece of marketing. You know different kind of clients in sales andson. I actually did not having Jackon Chas Great I'll. Tell you why, if you have, if theyare, if theyre, ifyou coach them up to be good managers it, maybe if they haven't been maginedbefore whatever that may be, I believe that Jassewel Trak canactually dive in and dive out of certain things with no problems. Tandthat will allow the team to know what they're doing, because as outeither youdon't necessarily you don't need to know how the sausage is made. You justneed to know that the sausage is made the way you wanted to writ. So you know what happens about, but youon to know all the weeds. So that way, I think those people will be superhelpful because they can be focused on different things and growing differentdepartments. A have a different perception, an Soas superspecialized.Depending on how you grow with whateper company you're building, I love havingJackson wit shades as managers by Telak. So yeah I mean great career opportunitieslike in management. You know, maybe leadership, maybe some multidisciplinary know areas like you know, owning uproduct owners, things likethat project, managers and son by well the Businesou starting get that's whenyour scall yeah, you don't need po owner or prime manger right away. Idon't think it yeah. That would be. I guess that woull be it. So, thank youguys are going to dig a bit deeper in some other episodes about starting abusiness yep and how to involve it. And so you can start three coffee shopsas a chain like I did anyway. That's...

...not that's not the dream. Is it isiisfree is free ar chain everything about to Tinioul say I oknow because there's two and then you say, oh how man I have a chain andthere's like three, because it's yeah, okay, like don't know, that's that'sgood question. I don't know I'll just il just like saing. He was a chainthere's three yeah anyway. I think coffee shop, Group Yeah, thank you guys were much fortee,then looking forward to feedback so appreciate that Co, guys mihe.

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