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2006-08-01 21:26:33 · 3 answers · asked by joe 2 in Business & Finance Investing

3 answers

Believe it or not, the more educated you are, the more difficult you find it to start your own business. Now I am not being biased here, I myself am highly educated with an MBA from the USA. However, in the business world, you really have to play with your instincts and take the occasional risk - something an educated person with lots of calculations will find difficult to do. Remember - no risk, no gain! It's really a simple formula. As for starting a business, all you really have to do is register your business and get a place to do it from. Once that's set up, get your employees in.
There are lots and lots of businesses to do. You can set up and have a franchise (something that has a better chance of success and hence educated people like to do), buy over a running business (restaurants, trucking companies, hotels, gas stations, real estate companies, consulting companies, even manufacturing companies if you have the budget!), or then finally set up from scratch. Setting up from scratch usually requires a long time of covering your initial investment, and profits usually only flow in after 2-3 years of operation. It all really depends on your budget and your interests as well as your aspirations. However, don't look for a book showing you the ways to success -these never work and have never worked, since there is no guaranteed formula for business success. Furthermore, ensure you hire the best staff that are honest and hard working, and work at rewarding them and retaining them - they are well and truly the key success factor that needs the most attention.

2006-08-01 23:54:35 · answer #1 · answered by Kuta 2 · 0 0

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!

2006-08-02 02:37:32 · answer #2 · answered by TM Express™ 7 · 0 0

What I learned from my past ventures and so I recommend to those who have the entrepreneurial spirit:

1. Have the desire to mutually uplift the financial status of others by way of offering your products.

2. Offer products that you san support after-sales, besides having a high demand ratings.

3. Start the business with the lowest capital as possible but projecting high growth in the future.

4. Surround yourself with people who can help your business intellectually and morally (no, not necessarily financially).

5. If possible affiliate yourself with others who are already successful in your line of business (what I call a "cooperative competition").

I tell you, I found all of the above (and much more) after some years of trial-and-error in the business world simply by joining a Inc.500 recommended company, the GlobalDomains International.

If you have at least 7-minute free time, visit my link:
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View the video, read the testimonials, and then browse the company info at:
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I hope you are indeed decided in having a business you can cherish... for LIFE!

2006-08-01 22:08:49 · answer #3 · answered by Cy 2 · 0 0

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