What is best advice for starting your own business ?

Answer 1

PLAN - PLAN - PLAN

Besides lack of money, the big reason why small businesses fail is lack of preparation.
They did not foresee the problems because they did not take enough time to thoroughly research everything about the business, its competitors, the industry, the business climate, the need, the realistic expectations and so on.

PLAN. Months of planning.
Write a B-Plan.
Have it reviewed.
Rewrite it.
Have it reviewed.

Do it until no stone is unturned, then start your business.

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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

First, you have to think what kind of business you're gonna do, taking into account your skills, hobbies, etc. Then, you must think if that kind of business is profitable, if it will fill a need, what kind of people will use it, if there is many competition... After you decide that it is the right business, start thinking about the important details like if you are going to need more people, how will the legal structure be, if any supplies of equipement need to be purchased, the location, the name, the telephone, the advertisement, and how many time are you willing to invest on it.

Answer 4

From my pespective:
1. Research. Make sure there is an adequate market for your product or service.
2. Capital. Make sure you start out with enough of what you need to launch the business.
3. Scale. Start small. Put profits into expansion. Don't expect to live on the income for the first 5-8 years.

Best of luck!

Answer 5

I think you should maybe find someone who has started the same business you are and ask a lot of questions and observe as much as possible. Always remember that you can learn better with a positive open mind . If your wrong say you are wrong.
Have a great time and make it fun ..

Answer 6

Start small. The public at large is very fickle. They say they want, lets say, family friendly entertainment. You supply, but they don't support your business. Start Small. Grow as the public supports you.

Answer 7

If you are looking to start a business, before you do...take some time to look this Business Opportunity over. It may or may not be for you. If you like what you see, please contact me.

Answer 8

Start part time.
Make sure you like what you are going to do.
Then make sure people want to buy what your selling
Properly finance yourself first.
Arranging proper financing for business
Plan for growth.
Plan to have employees who make your business better
Plan for retirement, sale of business and or an employee ownership/partnership plan

Answer 9

When the fire burns in your belly with resolve no matter what, ask the question again....