I want to do it on my own with my money but how can i start please help me? i m getting very good wholesale deal on shoes but dont know how to start like opening a store just me or start selling on internet or from home? please advice ppl asap. thank u soo very much
2006-07-25 16:26:56 · 9 answers · asked by ny k 2 in Business & Finance ➔ Small Business
You're doing the right thing -- doing research and asking around what you need to do.
Starting a small business takes a lot of courage. But, as they say, courage does not pay the bills. To be successful – to stay in business – you need more than courage. You need a combination of hard work, skill, perseverance, and lots of luck.
Some things you need to consider:
- "How can I support my family while I build up by business?"
- "What are my abilities?"
- "Is there a market for the product or service I have chosen?"
- "How long will it take this business to reach the financial goal I have?"
Here are the basic steps you need to do to launch a new business successfully:
1. Provide a benefit.
2. Determine the fit with your market.
3. Right timing is everything
4. Be ready to support your business
5. Develop a blueprint for success
6. Market, market, market
To give you ideas on what exactly do you need to start your own business, here are ten things you need to know before launching your own business “10 Things You Need to Know When Starting Your Own Home Business” http://www.powerhomebiz.com/052006/startingbiz.htm .
I recommend that you read the following books:
- What No One Ever Tells You About Starting Your Own Business : Real Life Start-Up Advice from 101 Successful Entrepreneurs
- Starting From Scratch: How To Start A Business When You Don't Have Money
- If You're Clueless About Starting Your Own Business and Want to Know More
- On the Move : How to Succeed and Survive As an Entrepreneur
-How to Make 1000 Mistakes in Business and Still Succeed
At some point, you may feel the need for someone to help guide you and show you the right steps in starting a business. There are several places where you may be able to find a mentor:
- Government Mentoring Programs such as SBDCs, which works with community colleges and local business development councils to offer mentoring programs http://www.sba.gov/sbdc/sbdcnear.html ; or the Women's Network for Entrepreneurial Training http://www.sba.gov/womeninbusiness/wnet_roundtables.html
- Volunteer programs such as SCORE http://www.score.org which is composed of mostly retired executives and entrepreneurs
- Formal mentoring programs such as Athena Foundation http://www.athenafoundation.org/programs/globallinks.html , Helzberg Entrepreneurial Mentoring Program http://www.helzbergmentoring.org/HEMP/ , or The Aspen Institute MicroMentor Program http://www.micromentor.org
- Professional organizations such as the National Women’s Business Council http://www.nwbc.gov/Mentoring/programs.html
- Industry and trade associations
- Local business groups, such as the chamber of commerce
- Local chapters of business groups
2006-07-25 16:32:48 · answer #1 · answered by imisidro 7 · 5⤊ 0⤋
There are legally binding confidentiality agreements that can be executed before you discuss your idea with anyone. Ask your bank or your attorney for an example.
You really don't give much information here about your idea. But I'd advise you to start by writing a business plan. There are canned programs you can buy that will take you through the process step-by-step.
As to the "good wholesale deal" you're being offered...remember, whoever is selling to you thinks it's a good deal for THEM to sell at this price. Make sure you know your source, the quality of the merchandise and the actual price you can sell to the consumer.
Due diligence means to get ALL the facts, double check everything and get all the details in writing.
2006-07-25 16:38:54 · answer #2 · answered by Anonymous · 0⤊ 0⤋
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
Online Specific:
* Starting an Online Business For Dummies, 4th Edition by Greg Holden
* How to Start and Maintain A Successful Online Business by Kelly Thornton
* The Complete E-Commerce Book: Design, Build, and Maintain a Successful Web-Based Business by Janice Reynolds
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!
2006-07-26 08:39:01 · answer #3 · answered by TM Express™ 7 · 0⤊ 0⤋
Hi,
Whether you want to sell them in a store or online (the per month overheads for online sales are lower), you need to start off with research.
Find out what is the market for such shoes. How many shops are there in the region near where you will be starting your store. What is your profit margin? How many pairs of shoes must you sell before you breakeven? Also, do you have a large enough network of people to sustain your required sales volume.
Do your costing and know exactly how many pairs you have to sell each day before you start.
Also, do you want to do it yourself or do you want to hire? But how do you hire a good salesman?
There are really many many aspects of starting a business. I could name more...
And there are many ways to do your biz.. eg; you could keep things simple and just sell your shoes to a retailer and earn comission in between ;)
The possibilities are endless!
It would be best to have a mentor with you. 99% of first time biz owners fail due to lack of experience and preperation for their business.
Good luck!
2006-07-25 16:34:08 · answer #4 · answered by Anonymous · 0⤊ 0⤋
The business consultant again - if you ask me specific questions i know i could help, i dont need to know the core of your business to do this.
But if your just looking for some quick advice, register your company with the secretary of state, apply for your sales tax id number and a few other legalities either place can help you with, then find your ideal location and sign the lease.
The most important thing is just to get out there and do it.
2006-07-25 21:09:31 · answer #5 · answered by sillyshac 3 · 0⤊ 0⤋
I think it's better to start small, and then expand slowly. As for money, you can take a loan from a bank, or some organizations specially for entrepreneurs etc.
2006-07-25 16:32:54 · answer #6 · answered by scholar 3 · 0⤊ 0⤋
Dear,
You have said,"dont wanna discuss with anyone". Then how one can help you effectively? Discuss it to someone you believe most. I am from Dhaka, Bangladesh. You may write me. email: tarique000@yahoo.com. Thanks.
Tarique Monsoor
2006-07-26 04:21:42 · answer #7 · answered by Tarique Monsoor 1 · 0⤊ 0⤋
Show your shoes to your friends and relatives. If they buy then you really have a hot product. Ask them to tell their friends and fellow employees about them.
2006-07-25 16:35:01 · answer #8 · answered by Wrath Warbone 4 · 0⤊ 0⤋
Get some ideas from these books :
2006-07-25 16:44:48 · answer #9 · answered by Anonymous · 0⤊ 0⤋