Where can I obtain ideas/information for starting a small business?

Question

I have a sum of money. I want to start a small business with it. I don't know what kind of business, or where to start.

Answer 1

Think of all your interests & ask yourself if any of those could be expanded into a business. Just keep in mind...what's your expertise? What are your interests? What could you imagine yourself doing?

By researching the prospect of starting your own business -- what it entails, what you need to know, helpful hints, etc -- you'll feel better prepared to take that plunge.

I found some book titles that are relevant to your specific question:

* 101 Internet Businesses You Can Start from Home by Susan Sweeney
* The Best Home Businesses for the 21st Century by Paul Edwards
* Selling Online: How to Become a Successful E-Commerce Merchant by Jim Carroll
* I Could Do Anything If I Only Knew What It Was: How to Discover What You Really Want and How to Get It by Barbara Sher
* I Don't Know What I Want, But I Know It's Not This: A Step-by-Step Guide to Finding Gratifying Work by Julie Jansen
* The Best Internet Businesses You Can Start by Marian Betancourt
* The Shoestring Entrepreneur's Guide to Internet Start-Ups by Robert Spiegel
* Making a Living Without a Job : Winning Ways For Creating Work That You Love by Barbara Winter

I also posted some article links in the source box.

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

Answer 2

You're definately on the right track by searching for small business ideas, you will never get rich working for someone else no matter how good your wage is. The key is leverage and residual income.
When you're searching there are things to consider. Which market are you looking to tap into? Anything that involves a product the baby boomers are looking for will give you an 18 year window of opportunity, which is plenty of time to build your business.
I would recommend starting a home business that is already in existence so you can learn the ins and outs as well as the do's and don'ts. This way you get support and training and if you find it's not for you, you can then invest in a different business but you will have the training. This can usually be done with a very small investment and lots of hard work, but the rewards are phenomenal!

Answer 3

Do you know what kind of business you are looking for? I am a Mary Kay Sales Director and althought it isn't for everyone it may be something for you to think about. It's very inexpensive to get started ($100+ s&h and the amount of inventory you wish to purchase) There is free ongoing training and support. Once you get started you make 1/2 of everything you sell and move up to Management level quickly.

I am a very shy person who doesn't believe in "pushing" the products or my business on people and have done very well. The one good thing about Mary Kay is that it's your own personal business but Mary Kay corporate has already built up the reputation for you and provides awesome support and guidance when needed.

If you're interested in more information you can visit my website www.marykay.com/kmicek .

Good luck with whatever you decide to pursuit!!!

Answer 4

The best business will depend on what you want, how you define to be interesting. A person may consider a pet sitting business to be the most exciting work in the world, while another person would rather watch TV than take care of dogs.

The key is to determine what your interests are, what you want to do, what is suitable for your lifestyle and your overall goals, and what can fit with your resources.

Dan Ramsey in his book "101 Best Home Businesses" has a chapter on how to find YOUR best home business. He suggests these 10 steps:

1. List 5 things you do best
2. List how others would benefit from what you do best
3. Find out how to give people what they want
4. Learn the value of your services to others
5. Find out who else offers similar services
6. Learn from the successes of others
7. Learn from the failures of others
8. Plan your own success
9. Make low cost mistakes
10. Enjoy what you do and how you do it

He then made suggestions on the best home businesses according to type. Here are a few of them:

Best Businesses Using Craft or Physical Skills
- antique restoration
- auto detail service
- carpet cleaning business
- errand/delivery service
- housecleaning business

Best Service Businesses
- bed and breakfast operator
- caregiver
- catering service
- senior day care center
- tutoring service

Best Professional Businesses
- desktop publisher
- magazine writer
- import/export service
- income tax preparation service
- event planner

Some other home business ideas:

Top 10 Home Businesses with Rapid Break-Even Time http://www.powerhomebiz.com/vol33/breakeven.htm
10 Profitable “Go-Out" Home Businesses http://www.powerhomebiz.com/vol31/goout.htm
Low Cost Startup Businesses http://www.entrepreneur.com/lowcostbusinesses/0,6617,,00.html
6 Hottest Businesses on the Web http://www.powerhomebiz.com/052006/web.htm

You can also check out the following books:

Turn Your Talents into Profits: 100+ Terrific Ideas for Starting Your Own Home-Based Microbusiness
The Best Home Businesses for the 21st Century
121 Internet Businesses You Can Start from Home
The Best Internet Businesses You Can Start
101 Ways to Make Money at Home

Answer 5

Hi
My advise to you is to put your sum of money in a high yield savings account with ing.com or hsbc bank while you determine what business is suitable to you and your interests.
Since I have no idea what your interests and talents are, I offer 2 free resources to help you to determine what that may be.
These are both free resources that will help you determine what possible businesses are right for you.
The first is called choose it, which helps you determine what you like, and after all, you would be the person who has to do this business you are building.
Link is
http://chooseit.sitesell.com/websales200247.html
The second link is called search it, which will help you search for business info such as competetion, content for a website (if thats what you choose), sites related to your ideas, etc.
Link is
http://searchit.sitesell.com/websales200247.html
I have had a small business since 1999, and I have never looked back after working for 17 years.
Contact me with any questions, and good luck in your business.

Answer 6

Compared to offline businesses, the investment required to start an online business is minimal. A popular way of earning money on the internet is by providing information and services. This can be monetised by advertising or charging a subscription. You can also make money online by selling products on auction websites like eBay or through your own website. More information available at http://tinyurl.com/syw6m

Answer 7

Good business owners have no questions. Since your struggling so early, and have no idea what business you want to get into, i recomend avoiding being a business owner. You will never have the drive or passion for it required to pull it thru the highs and lows.

Please dont take my comments as harsh, as im only stating the truth and want to help you avoid a possible money loosing / upsetting situation with a undesirable plan.

You may want to invest that money in stocks. Condoms, Ethanol Companies & Microsoft...

Answer 8

Dear friend

first tell me where you from , and how how money you have
coz all business foundation depand on capital , first decide capital for business then have office and computer all this thing
like army have gun same like business man have office and his contact number , valid fax number , his cell number then set time table for office , after this chose product as marketing point of view in which king of item you can start business ,

every man have own mood bucher can not sell news paper o.k.

so waiting for your reply .
irfan adam
[e-mail]

Answer 9

Get an online music store with Burnlounge :)
http://burnlounge.com/mlbliss

Answer 10

Check out www.entrepreneur.com. I always find good tips on this site and it's very reputable.