Like Minded Entrepreneurs/Future Entrepreneurs Gather here

[newbie2020]

Hi I am starting this thread to bring like minded Entrepreneurs/ Hopefuls...together. The idea is to pool the collective knowledge,Experience together into something more concrete....There are many threads in IV on how to start a business/How to manage one....

I am sure this forum has a number of people who want to venture into something new...Be their own Boss and stop cribbing/crying about Blood sucking employers.

We have so many brilliant minds, excellent managers among us who can bring in a lot more value , a whole new concept into a new venture.

How is this different from one starting his/her own company?

The answer is simple...When you want to start your own company there are too many things one needs to be taking care of (Ofcourse you enjoy the fruits of your labor yourself). One cannot be a master of so many things Accounting, Immigration, Taxation, Vendor management, People management just a few to name.....Also you will not really have access to large amount of capital needed if tomorrow your business grows and needs more capital...

So what is the solution..?
Solution is to bring like minded folks under single umbrella organization, tap their collective pool of knowledge, expertise to build something big....First thing we need to do is THINK BIG....

I should warn this is not for the Faint hearted ones This certainly requires a lot of dedication, personal interest, Certainly there will be risk associated ( Complete disclosure ). There is no guarantee this will work But We got to try to see.....Given the vast amount of collective knowledge in such ventures chances of failure is also low.


Who is ready to change our world, Our Lives.......

[chintu25]

All aspiring entrepreneurs must read

"Rich dads : Before you quit your job"

It is an eyeopener and a very very refreshing read.

Brings you face to face with the realities of entrepreneurship......and makes you ask this question : Are you really an Entrepreneur ?

Great insight into the question "what to do before you do business ?"

[Kushal]

Also there's 2 must reads:

Magic of thinking Big.

Rich Dad's: Business School.

Since its working for me, it will work for you.

[sc3]

There are lot of critics of Kiyosaki's books. Some say (and have evidence to that) saying Kiyosaki doles out advice that are illegal when implemented. Check the wikipedia etc. to see if he is the author you want to follow. Some have suggested that Kiyosaki's book sell because of his association with Amway and the likes.

I read his Rich Dad Poor Dad, it was a nice read, but I can not say I learned anything new from it.

[bondgoli007]

I am not sure if this is already known but TIE is a good networking org. They have a large network of successful entrepreneurs, corporate executives, and senior professionals.

http://www.tie.org/

[chi_shark]

i have been checking with my lawyers, according to them, if i dont have GC, i could potentially harm my case if i had a business that does well... i.e. anywhere upwards 20% of my existing gross income... and that 20% number also depends on the adjudicating officer's perception...

so bye bye business plans...

Originally Posted by newbie2020

Hi I am starting this thread to bring like minded Entrepreneurs/ Hopefuls...together. The idea is to pool the collective knowledge,Experience together into something more concrete....There are many threads in IV on how to start a business/How to manage one....

I am sure this forum has a number of people who want to venture into something new...Be their own Boss and stop cribbing/crying about Blood sucking employers.

We have so many brilliant minds, excellent managers among us who can bring in a lot more value , a whole new concept into a new venture.

How is this different from one starting his/her own company?

The answer is simple...When you want to start your own company there are too many things one needs to be taking care of (Ofcourse you enjoy the fruits of your labor yourself). One cannot be a master of so many things Accounting, Immigration, Taxation, Vendor management, People management just a few to name.....Also you will not really have access to large amount of capital needed if tomorrow your business grows and needs more capital...

So what is the solution..?
Solution is to bring like minded folks under single umbrella organization, tap their collective pool of knowledge, expertise to build something big....First thing we need to do is THINK BIG....

I should warn this is not for the Faint hearted ones This certainly requires a lot of dedication, personal interest, Certainly there will be risk associated ( Complete disclosure ). There is no guarantee this will work But We got to try to see.....Given the vast amount of collective knowledge in such ventures chances of failure is also low.


Who is ready to change our world, Our Lives.......

[chintu25]

Originally Posted by sc3

............Some have suggested that Kiyosaki's book sell because of his association with Amway and the likes.

I read his Rich Dad Poor Dad, it was a nice read, but I can not say I learned anything new from it.......

Yes I felt that Kiyosaki promotes Amway etc too but skip those lill parts and the book gives amazing insights.

I strongly recommend it.

Well illegal and legal depends on how you interpret the information .
And it goes for any book.

Anyways any recommedations for accounting softwares to practice (Hath safai) cheap or free .

[raydon]

Interesting thread. I'm not there yet, still got about a year to go. But I do have thoughts in this direction. Count me in guys.

[newbie2020]

It is really interesting to see many folks reading/suggesting Rich Dad: Poor Dad it is a very refreshing read....

I also see some of the folks having a different perceptions/assumptions on whether one can be a entrepreneurs or no while on H1/GC in process

All i would say is if you have that burning desire in your heart to be an entrepreneur Nothing can stop you from becoming one... Not H1/ Not L1 and Not even the lack of GC. Where there is Will there is always a Way

it is also important for us to chalk out the next course of action and bring together a group of folks under one umbrella. I will host a Conference call sometimes next week to see how many of us have that FIRE in us.

Send me a PM with your name, location and tel# and i will send you the conf details.

In the mean time Please suggest any topics which you feel needs to be added to Agenda.

[NKR]

Originally Posted by newbie2020

All i would say is if you have that burning desire in your heart to be an entrepreneur Nothing can stop you from becoming one... Not H1/ Not L1 and Not even the lack of GC. Where there is Will there is always a Way
.

I do not quite understand what you meant, but if you are saying that you can run a business even on H1/L1 or lack of GC, I beg to differ. You cannot have any other income apart from the work you do for which you have the H1/L1 permit. You can volunteer I think but I am not sure… Just did not want antis or naysayers to have a wrong impression…

[malaGCPahije]

Originally Posted by NKR

I do not quite understand what you meant, but if you are saying that you can run a business even on H1/L1 or lack of GC, I beg to differ. You cannot have any other income apart from the work you do for which you have the H1/L1 permit. You can volunteer I think but I am not sure… Just did not want antis or naysayers to have a wrong impression…

that H1/L1 holders can open their business. They cannot be an employee of the business. The business can earn money under its own tax ID. The owner cannot get a salary out of it. So H1/L1 holders can still start their business if they have someone to work on the stuff for them.

[newbie2020]

When i said it doesn't matter if you are on H1/L1/GC you still can be an entrepreneur, Did i ever say you need to own it 100% Nope...I didn't You can be a partner in a business if you want to work while on H1/L1 you certainly need the work permit (H1/EAD) processed with the new company.

By the way you can have concurrent employment as long as it doesn't interfere with the Employee agreements you might have.

[chintu25]

Originally Posted by newbie2020

When i said it doesn't matter if you are on H1/L1/GC .............permit (H1/EAD) processed with the new company.

By the way you can have concurrent employment as long as it doesn't interfere with the Employee agreements you might have.

I consulted with not one but two attorneys to make sure of the legality of the whole thing

Their take : If we have H1 we can work our day jobs and utilize EAD to either work part time or your own business.

NOW dont jump the gun.....If you find that cheesy or cocky , your spouse (for married people) can open a business in her name and start.

And let me quote Rich Dad "If you wait for all lights to turn green, you will be stuck at the signal forever"

I have some interesting quotes from a few books I am reading on entrepreneurship . If people are interested I can post a few here ..

Thanks

[NKR]

Originally Posted by chintu25

I consulted with not one but two attorneys to make sure of the legality of the whole thing

Their take : If we have H1 we can work our day jobs and utilize EAD to either work part time or your own business.

NOW dont jump the gun.....If you find that cheesy or cocky , your spouse (for married people) can open a business in her name and start.

And let me quote Rich Dad "If you wait for all lights to turn green, you will be stuck at the signal forever"

I have some interesting quotes from a few books I am reading on entrepreneurship . If people are interested I can post a few here ..

Thanks

Thanks for clarification guys, chintu, you can post the quotes, it will be an interesting read

[miguy]

I have started using my EAD. Can I open my own company and work on corp to corp or do I still have to be employed by another company on W2?

Thanks.