On Friday, December 19, 2014 3:26:07 PM UTC-5, Jim Wilkins wrote:
"Ed Huntress" wrote in message
...
On Fri, 19 Dec 2014 12:05:05 -0800 (PST), wrote:

Bob La Londe wrote

"Ignoramus11878" wrote in

I am just wondering what do you think about the prospects for
that
business idea. Maybe you are, were or know someone with that sort
of
business plan and know how it worked out.

I do have some opinions about it, but I will withhold them to see
what
you think. I just laid out pertinent facts.

Liability can be mitigated a number of ways. An attorney can help
him with
a simple service agreement for work that includes a limitation of
liability
depending on the type of work he does. Insurance is not required
most
places, but he can weigh the risks and make his own choices.

Difficulty in business is best resolved beforehand.

Would an attorney even want to work with a firm that has no full
time accountant working there, for example? Would a bank want to
make loans to such a company that has no full time lawyer working
there? Would an accountant wish to work with a company having less
than a certain number of employees or level of gross earnings? Would
an insurance company trust a client that didn't have all of these
things? If not, you can understand why insurance rates might
skyrocket for your operation.

You have to look at your business prospects through the eyes of
those you work with, too.

Of the 120,000 or so commercial metalworking shops in the US, I
doubt
if 10% of them have an accountant "working there," and probably no
more than 5% have lawyers on staff.

Those are independent services that one hires as needed.

Banks give those companies small-business loans all
the time. As for banks requiring insurance, it depends on the
bank's exposure and what assets they have encumbered with liens.

Does Mog dream up these imaginary obstacles to success to
rationalize his own lack of it?

I don't really know what you mean by rationalizing anything. Here in east coast electrical, HVAC and plumbing businesses the labor union contracts want long-timers to call the shots, then everyone else plays their part. So financially, you don't do too bad, but you don't do too good either (which is what I gather you are hinting at).

But I chose the labor and trade contracts and practices that I signed to be a part of forwork. So I don't care to have any of my own employees or major business assets. If I wanted to, I could go out and cheat against the big labor contract and work with side work and construction projects and give a single social security number to all of my hires and steal diesel fuel and sell it like they all do.

But I choose not to fight big labor and I choose to follow the advice from seniority that I legally get in these fields. In exchange, I get my share.