Business on the Side

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DrakeTempt
Posts: 23
Joined: Thu Jul 19, 2012 12:15 pm

Business on the Side

Postby DrakeTempt » Thu Jul 26, 2012 2:49 pm

I've been the managing member of a business for almost five years now. Basically means that I co-own. I take care of the accounting and billing on the weekends so it has yet to be intrusive with my studies. I can't afford to sell my ownership rights because it has helped me finance my 1L.

Will this be problematic when I apply for 2L SA? Any conflict of interest? What will they want to hear? That I intend to transfer my ownership and leave the business. Should I stress that it has not been a problem or distraction and that I can be the associate they seek even with this side business?

DrakeTempt
Posts: 23
Joined: Thu Jul 19, 2012 12:15 pm

Re: Business on the Side

Postby DrakeTempt » Thu Jul 26, 2012 8:23 pm

I guess there aren't that many entrepreneurs and/or business owners in law school?

Anonymous User
Posts: 273566
Joined: Tue Aug 11, 2009 9:32 am

Re: Business on the Side

Postby Anonymous User » Fri Jul 27, 2012 10:09 am

No, must of these forum members are quite young...most of them have no idea what it takes to make $.

Anonymous User
Posts: 273566
Joined: Tue Aug 11, 2009 9:32 am

Re: Business on the Side

Postby Anonymous User » Fri Jul 27, 2012 11:15 am

I own a business that I've been running for about 10 years. Its in a very unique field, and I definitely emphasize it on my resume. Every interviewer I've ever talked to has asked me about it and has been very interested in it.

I've worked for four firms, and none of them have ever seen it as an issue or even spoken negatively about it. Most think its neat that I'm able to do it. Of course, if yours is a really large business, you might run into conflicts that would present problems. Otherwise, I doubt it should be a big problem.

DrakeTempt
Posts: 23
Joined: Thu Jul 19, 2012 12:15 pm

Re: Business on the Side

Postby DrakeTempt » Fri Jul 27, 2012 1:14 pm

Thanks!

Do you mind pming so I can have a deeper discussion for it? I own a business that is unique, but it's far from sophisticated. It's not like I'm running some online start-up that revolutionizes how we have sex or something. In fact, the reason why it hasn't been a problem for me is that main operations are entirely automated, 2-3 employees and very little overhead costs.

Owning a repair shop v. stubhub.com would be viewed differently, no?




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