How do I start my own business ?

Answer 1

Sack of lemons, bag of sugar, ice, pitcher, cups. Folding card table. Hand lettered sign. Once established, expand into cookies.

Answer 2

The best routes to take are to research the process of starting a business as well as the industry you're interested in.

I recommend checking out the SBA, Entrepreneur, The Start Up Journal & Nolo. All 4 are great informational resources for the new/small business owner. I posted links for you in the source box.

Research, research, research – this cannot be stressed enough. Read as much as you can. Here are some book titles that are relevant:

* How to Really Start Your Own Business, Fourth Edition by David E. Gumpert
* How to Really Create a Successful Business Plan: Step-by-Step Guide by David E. Gumpert
* What No One Ever Tells You about Starting Your Own Business: Real-Life Start-Up Advice from 101 Successful Entrepreneurs (What No One Ever Tells You About Starting Your Own Business) by Jan Norman
* Business Start-Up Kit by Steven D. Strauss
* Start Your Own Business (Entrepreneur Magazine's Start Up) by Rieva Lesonsky

There are plenty of free informational resources out there. Check the source box for links to articles.

Hope that helps! I wish you much success & happiness in all your ventures!

Answer 3

If you go to a business school even if it is ac your community college, it will put more tools in your tool kit to run a business. You can't compete against the well established business in your area. What you must do is find a need not being filled and be the first to fill it. The second thing is you must continuously improve because competition will be breathing down your back. The third thing is you will have to work several hours a day when you start or expect to loose the business fast.

Answer 4

The first thing to do is to hire an accountant (I know you might not have the funds now, but it is important). Then talk to an attorney (again - funds). The attorney will tell you to hire an accountant. You need to find out how to register the company. The type of company you choose is important. The internet can give you background info ie. Corporation, Sole Propriotorship, Partnership, Limited Liability, etc. That's why the accountant is useful. Most background help can be found on the internet, but to make thing totally legal, and gain insights, and have someone perform your profit/loss analysis and tax info, spend the money to hire an accountant (by the way - I'm not an accountant, but mine has helped me more than any lawyer or bank adviser ever has).

Answer 5

do some research but don't try to reinvent the wheel. And whatever business you choose. use some common sense. people open and close new businesses all the time because they have a good idea but lack fundamentals like parking for their customers or they open at a busy intersection but their client base is elderly people. Who won't cross the street at a busy intersection. Most of all be fair with your customers, anyone can open a business and get a few customers but repeat customers are the key to long term success

Answer 6

Check the link below to see step-by-step guide how to start a business and all the things needed to run a successful business.

Answer 7

Go to the Small Business Administration website for information:
http://www.sba.gov
Good Luck!

Answer 8

Firstly, decide what you want to do. Then discuss it with your family and make sure they understand the strains you will be under!

Are you going to be a limited company or a sole trader? Can I respectfully suggest that if you are setting up the company with others that you have an odd number of directors? That way, all decisions can be on a majority basis - and there will be times when directors disagree, no matter how friendly they are!

Then decide if there is any demand (by carrying out surveys etc). How much competition will you have? If you can, try the business part-time to ensure you really have a market.

Then go and see someone about having a business plan written to help you raise funds. Writing it yourself is very hard as you have to be objective! You also need to know what to put in the plan to make it look appetising without going over the top!

Make sure it is someone who does this a lot (I used to work in corporate finance and I got very fed up with accountants saying they could write a business plan. My argument was that your GP knows how to take out your appendix - but would you want him to?!!!)

this should not cost you - they normally work on a percentage of the funds raised. This means they only take on cases where they know they can succeed! Worry about anyone who suggests you pay up front - they are not showing faith in your product or in their own abilities! Your bank manager should also be able to point you in the right direction for a business plan. But watch getting cash from the bank - they will want to ensure they can get their money back if it all goes belly up! Anyone worth their salt who work in corporate finance will also be able to suggest sources of finance and introduce you - they will do most of the legwork for you!

To find one, go to a large accountancy firm and ask them for a reference. To be honest, they do not particularly like start-up fundraising as it is hard work!

Oh, and any lender usually wants to see what you are putting into the deal cash-wise!

However, raising funds as a start-up is very difficult. If you can do it part-time, you will have a track record, which should make your fundraising much easier!

You will need an accountant and a solicitor. Again, the corporate finance adviser will be able to help you with this if you do not have one. They should have lots of contacts and will be able to match you up with ones you can afford and that will fit with you and your plans. I have been out of the Corporate Finance world for a while now, but you will need to set up a company. You can buy these 'off the shelf' or have a solicitor set you one up - but whichever route you take, you will need Memorandum and Articles of Association (M&AA), which sets out the rules for the running of the company, shareholdings and so on. The solicitor will help you with things like Annual General Meetings (AGMs), and so on.

You may need to register for VAT. Your accountant can help you with that. They will also help you with things like your financial year and when you have to have an audit.

You will see that, although setting up your own business sounds easy, there are a lot of things to think about.

Think about things very carefully, make a decision, take a very big deep breath and go for it!

(ps you can also try things like the Chamber of Commerce for advice - they put you in touch with a lot of people who can help you. When I worked, there was something called The Link that helped start-ups)

Answer 9

with a business plan and a bank loan

Answer 10

Start with a good idea and go from there.