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Don't try to Pick Stocks - Some of us when we have extra money think that we can invest it in the stock market and earn some returns on...

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Pitfalls of Starting a Business

Posted On: 2006-04-13
Length: 21:38

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Coming from those good old Netcast Studios, it's Business Success Tips, with Paul

Hello there.



And myself. Andy is on hiatus.

He's in the Caribbean, hanging out.

Andy's on a cruise.

Andy we miss you.


If you're listening, Andy, we miss you.

He didn't take me.

Andy is our usual sound effect guy, and so what are we going to do tonight for sound effects?

You get to push the buttons.

I'll figure it out. Ok.

That's right. You already dropped your ball, and you couldn't get your thing straightened out.

Hey. Excuse me. This is not a good way to start.

You have enough problems, you know.

Speaking of problems, boy I'm involved in this start up company.

Oh man. Remember when we said we were going to start this company, Netcast Central.

Yeah, you guys remember that, right?

Well we now have this company, right. We have this studio, 3500 square foot studio, and we have, I guess, eight people working between all of us? We're going to hire eight more.

A lot of time.

So, you know, we have, by a week from now, by next Friday, Wednesday, we're going to have 12 employees, I don't know, 20 employees. A bunch of people.

We've got shows, we've got employees, we've got to figure out how everything works.

We've got partner disputes.

Partner disputes.

We fight over money.

So, don't quit your job.

This is a pain in the ass. It's a lot of work.

And everybody's working for free, yeah,

So far, yeah.

So I figured out if we were actually charging for all our time, we'd be losing $100,000 a month.

Yes, that's probably about right.

Not to mention sleep.

Not to mention sleep. But we're all working for a good cause because we love it, right?

That's right.

Because we don't want to have to have a job.

It all started with you, Lee, you realize that. Convincing me this podcast bullshit. If you go back to our first podcast, I think in August?

Yeah, I think it's been about six months. Oh, by the by, this is our anniversary night tonight. This is our big 5-0.

And there's only three of us here to do it.

Andy's got the right idea. The 50th anniversary, he's in the Caribbean and we're still here.

He's on a cruise, right. What's up with that? So this is sort of like our 50th birthday party.

Right. And we have over 20,000 downloads now.

Yep, we hit over 20,000, so we thank you all very, very much for listening. It's been a lot of fun.

And tell your friends, right?

Yep, that's right.

They are telling their friends.

And send us e-mails.

There you go. So, SCS@sonic.net is the usual spot. And tonight we're going to talk a little bit about once you've got a company started, uhhhhhh, then what do you do?

What do you do?

As things start falling apart.

Well, let's talk about the challenges we've had.


Ok. One of the challenges is we have actually five official corporate stockholders. Right?

Yes, we do.

And then we have,

I'm not one of them, just so our audience knows that.

We incorporated as an LLC, is that right?

No, we're a C corp.

We're a C corp. OK.

And then we have JC who said

I'm pro bono. I don't know if that's the greatest deal.

You're the inheritor.

Well, you're the inheritor. You have a percentage by rights.

Tick. Tick. Tick. Every second you get closer to death.

I see, that makes me feel really secure.

And you're a hell of a lot closer than me.

That's true, that's true. So, you're, but JC's one of the founders...

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Definition of the Day General and Administrative Overhead

General and Administrative Overhead – These are costs related to the operation of a firm the stem form its general functions. It also applies to expenses related to any administrative functions. While these are necessary parts of a company’s overhead, it doesn’t necessarily mean any cost that are the result...

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