How's it going everybody? My first post here.

Discussion in 'New Member Introductions' started by RoosterSmith, Nov 1, 2013.

  1. RoosterSmith

    RoosterSmith
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    How's it going, guys? My first post here.

    Thought I'd find a good business community forum because I'm planning on starting a Professional Wrestling Promotion one day. Think five to ten years in the future.

    Never too early to start planning though so I thought I'd go ahead and start putting together a budget.

    And since I have no business experience at all it can't hurt to ask as many questions as possible.

    The first one being, if I wanted to get into the Pro Wrestling Promotion business, which would consist of 6, 11, or 12 events in the first year ... what kind of business structure should I use for that?

    I'm thinking Sole Proprietorship. Although Limited Liability Company wouldn't be that bad either by the sound of things. I'm thinking special event insurance (AKA, Commercial General Liability insurance.) might make a Limited Liability Structure unnecessary. My assets won't be anything near worth what the insurance covers. But I needed to ask someone.

    Have a boat load of questions. Won't hit you guys up with all of them at once, and if I see the ability help someone out on this forum with my limited knowledge, I'll post in those threads.

    Good to meet ya'll everyone! Peace!!!
     
  2. Fergal

    Fergal
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    Welcome to Business Advice Forum Rooster.

    What country would your business be based in?
     
  3. RoosterSmith

    RoosterSmith
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    It would take place in the United States.

    Haven't decided wether or not I wanna do it in Washington State, specifically Seattle ...

    Or the New York City Metropolitan Area.
     
  4. AnushaJain

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    Welcome to BAF RoosterSmith :)
     
  5. Webestrian

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    Welcome :) I myself visiting the forum after long long time, i guess 2-3 years. Its good to see the forum has grown a lot :)
     
  6. derrickfowler

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    Welcome Roostersmith to BAF :party:
     
  7. RoosterSmith

    RoosterSmith
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    Thanks guys. Forgot to check this post these last few days. haha.
     
  8. Cris

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    Hi RoosterSmith, welcome to the forum, we're so glad to have you here. :D
     
  9. Changed Creation

    Changed Creation
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    HI Rooster Smith.
    Congrats for realizing that business has to be planned for. (Planning is bringing the future into the present so that you can do something about it now!) Good idea to join a group while the idea is still a dream. You have started to take the first steps into making it a reality!:)
    May I give you something concrete to do to give your idea a bit of form. A mentor of mine, Glen Ditsel is known for saying: Writing is the doing part of thinking, so writing will start the process of bring that dream into reality.

    I'd like to give you these 7 steps outlined by Brian Tracy, to make sure this dream you have happens.
    1. Decide exactly what you want.
    2. Write it down:) Unwritten goals lead to confusion, vagueness, misdirection, and numerous mistakes.
    3. Set a deadline on your goal. (otherwise you will procrastinate your dream...)
    4. Make a list of everything you can think of that you are going to have to do to achieve your goal. (Keep building this list till its complete)
    5. Organize the list into a plan. (according to sequence and priority)
    6. Take action on your plan immediately. (An average plan vigorously executed is far better than a brilliant plan on which nothing is done!)
    7. Resolve to do something every single day that moves you toward your major goal. (Do it as part of your daily schedule)

    And just to make sure you board the boat of your dream, send your resolve to me in a PM, so that you start taking responsibility for actualizing your dream!
     
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  10. amwarner

    amwarner
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  11. RoosterSmith

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    Very cool, thanks. I agree, there is something about writing everything down that makes it somewhat more real.

    Thanks Warner, that second link is the first piece of info I've been able to find about wether or not a start up Pro Wrestling company (Not exactly a normal business) should be filed as a limited liability company.

    Much appreciated.
     

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