My Husband and I would like to start our own business, any advice?

Question

I am 37 and my husband is 38. We are both fairly intelligent, and hard working. We both currently have good jobs and are doing pretty well. We have been doing alot of thinking that we should start a business. We sort of feel stuck in a rut at our jobs, and hate the fact that we have to account for every move to a boss. He is extremely talented in the technology field. Computers, digital, and audio equipment, any kind of gadgets. I on the other hand Love gardening, organizing things, and anything to do with the outdoors. We both LOVE coffee, good music, and I would say kind of eccentric things. We both have experience with a variety of things from waiting tables to working in a microbiology lab. We have alot of talents but we don't have any experience in owning a business. What should we be focusing on as far as getting things started. Please anyone with any knowledge of being your own boss and being successful at it, I would appreciate any advice you could give.

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

The easiest way to become a business owner is to buy one that is already operating. This includes buying successful small businesses, franchising, or purchasing a failling business. All of these have their advantages.

Successful businesses are already making profits using their current systems. All you need to do is make the purchase and then not change things to drastically. This eliminates a good portion of your risk, but is usually a more expensive option. Sales contracts often ask for sellers to remain long enough to show new owners the ropes.

Franchising is the simplest method. You are simply buying the name of a profitable company and running your business by their rules. Each company has their own guidlines on who can buy in to their franchise. Some are expensive and hard to enter, others are inexpensive and easy to obtain.

Buying a failing business is usually the cheapest way to go. Often you can obtain their assets at a great discount. Unfortunately these require a complete change to succeed. This can mean lots of capitol, time and work.

Since you are doing well now, I suggest buying a successful business. You should qualify for an SBA loan easily. You just need to decide what type of business to buy or particular franchise you want to try and run.

You can look over the local paper for sales, or contact a business broker. As a broker I suggest the later. They will have many more options, and can help valueate businesses and negotiate a deal for you. If you need one reffered to you you feel free to ask [e-mail]

Answer 3

unless you are blessed with a huge capital reserve, your business is going to run your life for at least the first 3 years.
count on 80 hour weeks, doing without, never having enough time, sweating payroll, quarterlies, and having no life but the business'.
things to learn before hand/read.
cash flow analysis, the trick is to match your income with your bills due date.
how will you flip your inventory or provide a service that people enjoy.
....swim with sharks...., and ....naked man.... both by harvey mckay
questions to ask
why would any body want to do business with ME? what do i offer that is worth someone risking disappointment to do business with me.
how will my target clientele learn of me?
what is my product?
a really great business that will come on line soon will be water heaters for food businesses that run on their waste oil.
this doesn't seem to be in your area of expertise.
there is a book out, a whole new mind, by pink riverhead books that makes a lot of sense to me. i have read the foirst 100 pages and have little to argue with so far. i think this book could do you some good.
get more specific for better info
[e-mail]
i have started 4 businesses with nothing/a deficit and eaten regularly from the start. in some cases i have done well enough to buy income property.
as long as i can sit at my computer, my advice is free.
if i travel i demand 500 a day and expenses, and am not always worth the money. i just shut down a business that provided me with a hell of a tax problem because i don't handle money well. it was also gawdawful boring, and that was the reason for leaving.

Answer 4

First you need to focus on what kind of business you want to be involved in. Will it be a service company, retail sales, or do you want to manufacture new things or add value to existing products?

Decide on the niche you want to persue and then concentrate on writing up a business plan. What are the goals, objectives and expected methods for success?

Consider the alternatives for getting into your own business. If you want to be a reseller, there are tons of companies who are anxious to provide you with their lines of products. Some offer a franchise and you must buy into their contract. Others offer home sales programs like Amway, Shacklee and Ecoquest. With those programs though, the money you make is neglibable until you have created a network of friends who also sell the stuff.

The SBA (small business administration) sponsors seminars on what your options are and provide good advice.

Keep in mind that new businesses go bust 95 percent of the time. It's a huge commitment.

Answer 5

I think the best way to start is to decide what kind of business you want to do. Look in your area for what is missing (business wise of course) and provide it. Generally that's the way to help make it successful. As for starting capital, use friends and the government has all kinds of programs to start small businesses. Not to mention credit card companies are also assisting with that with the banks. That's where you should start . . .after that I think it's up to you cause life will throw some stuff at you that isn't planned so I can't give any advice about what I don't know.

Answer 6

You have those and plenty of extra inquiries to reply. You are shrewd to paintings on them earlier than you begin your corporation. The very the first thing I advocate is to buy industry making plans application. There are a couple of in the marketplace. I have used BizPlan largely and feature endorsed it. What I like approximately it's that it us intuitive and walks you by way of all places of your corporation which ought to be addressed, no longer simply those you indexed. There are different merchandise available in the market which I am certain do a well process, I simply have had well revel in with this product. Then, I advocate that your rent an accountant to consultant you by way of the setup of your books and the opposite tax comparable questions you could have. But first, you ought to consider approximately what you're going to promote, for the way a lot, to whom and isolate what your constant and variable bills are. Since your assets are confined, do you could have different resources of earnings now? Full-time/facet-time jobs? I strongly inspire you to, after running by way of your marketing strategy, system your possess industry on a facet time groundwork. It will take a whilst to your possess corporation to generate sufficient coins so that you can pay your bills, however there may be a lot you'll be able to do, even on a facet time groundwork, to get matters moving into a confident course.

Answer 7

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