What is the best way to start your own business for the first time?

Question

I dream of having my own business...Is it hard to get funds/loans?

Answer 1

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 2

Start out by writing down a list of 10 things you know a lot about and then 5 things that you are REALLY interested in and then do research on those items online. See if you can find something or somewhere that a NEED is NOT being FILLED.... that is the key.... Find a Need and Fill it. It does not matter how small it is. Then see how inexpensively you can attempt to come up with a way to fill that need. Years ago before everyone was scanning documents back in 1996 is was working at a law firm filing paper and I thought there has got to be a better way. The I thought wow if we could quickly scan it into the computer and then organize it in the computer then it would make it much easier to locate items later down the line when needed. I bought this cheap slow scanner and spent hours scanning in one legal case of 2000 pages. It took me a week, but the lawyer was so happy he asked me to do a bunch more cases and paid for a faster scanner to do it for him. So I did his cases with the faster scanner which only took a few days and when I was done I had a fast scanner that I owned then the lawyer showed off his scanned documents on his computer to other lawyers and then they wanted documents scanned into their computers... THEN I STARTED Charging money. 10cents a page and they paid it and my scanner did 60 pages a minute. Then I did scanning at my own schedule and made about $50 to $60 an hour. Then HERE IS THE KEY POINT.... I always looked for the next thing because I knew at some point the big companies would get into scanning documents or Copy Machines would soon do the same thing I was doing. Get in quick, make your money quick for a year or two and then get out on to something else. Don't invest too much into your idea. Long answer, but you get the point. Find something you know about or are interested in learning about and find a need that isn't being filled and then fill it. The best thing I have seen lately is people setting up a table at auctions and selling sodas and candy and chips to people waiting around at the auction. If you buy the chips for 50 cents a bag sell them for a $1. Use the money you make on your next idea. Good Luck

Answer 3

Yes it is hard! First you must have something you enjoy and want to do. Next you find a job that will allow you to do what you want and enjoy on the side. The best way to begin is in your free time while working somewhere else.

Unless your business is a service business then you can begin that without much money. For example a cleaning business all you need is cleaning supplies and equipment, lawn care business could be started with one mower and hand tools, dog walking you don't need anything, etc....

Don't give up on your dream just make wise decisions to get your dream going! GOOD LUCK!

Answer 4

We run http://www.johnnylew.com and have been in business for two years. For on online business you do not need alot of funds. Just time and hard work. Yahoo Stores can have you online and selling in a matter of days and its extremely easy to set up the site, get credit card processing firms, you provide the information and picture of your products.

Start small and work up. Concentrate on only a few products at first and once you have a solid base of customers and traffic then expand to other products.

Concentrate on key words. The reason you want to start small is to get key word rankings high for those first few products. The more populated your page is with the same key words or key word variations the higher you should rank in the searches. this will drive free traffic to your site.

Yahoo stores is inexpensive and gives you great tools.

good luck

Answer 5

Start by selling items on e bay. Buy low and sell high. Go to thrift stores and garage sales. Look for treasures on the side of the road. Take your best shot. Go for the gold.

Answer 6

The answer is at www.rrgi.biz - login: guest
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Answer 7

Contact you local SBA office and get all the tips you can

Answer 8

just go it th flow my mom starting her hair buisinss for the 1st time n i caint wait