I'm trying to set up my own business, I.E a website on the internet selling various items, I know it will be a winner as I have do all my research etc but I just keep getting knock back aftre knock back, every corner I turn theres something else standing in my way, whether it be getting declined a loan, turned down by a suplier, How do I keep my dream alive
2007-02-01 07:46:57 · 6 answers · asked by Anonymous in Business & Finance ➔ Small Business
If you love the idea and you keep fighting there is no reason why your dream will not come true.
But a business is not only a dream. It is real. And if it is not well planned or if its target group is not well informed then you might fail.
If you dream to cross a river is better that you stop to think how will you do to achieve the goal. What if the river hides some surprises? better to have all the tools before.
The best thing you can do to keep your dream alive is to achieve small goals. Achievement is great!
If you are selling something please remember that the correct advertising of your products is the 80% of the success. You can have the best product but if no body knows about it then you will fail.
If you are not receiving a constant amount of orders then think twice if you will get a loan. What if those supplier fails? At the end you have to pay the credits...
reduce your risk by making narrow targets: " the students of primary school that speak Spanish in the town ABC". So you will not have to invest a lot in marketing or advertisement and you will test the rate of success. Repeat the same operation until you will get more valuable information. Then with lower risk you can think on a bigger target, bigger budget and bigger revenue.
If your supplier is not good might be that you don't have a contract with them. They should pay you if they deliver late or fail to deliver. By having a contract will help you to understand what is important for them. Maybe your orders are too small? Or sent too late for their production or delivery process?
In any case, the best you can do is to try. But that means to keep dreaming and modifying that dream so it will adapt to the market needs. It is a constant process of evolution and dreaming. If you fail... there is no problem. You will learn so much that after solving the problems that comes with the failure your next idea will be closer to be "the big one".
And as Guy Kawasaky said in one of his books: you must have clear how are you planning to change the World with your business.
2007-02-01 08:26:53 · answer #1 · answered by b4contact 3 · 0⤊ 0⤋
By never giving up. Have your tried the government for small business loans? Grants? I'm sorry I don't know the websites right off, but I know they are on the web. Some even will give you help in writing a grant proposal.
I would guess unless you have the financial backing first the suppliers won't jump on board for you.
If you want to sell things on the internet and have your website open a storefront on ebay. Advertise on free sites , until you get your money coming in.
Offer advise to other people wanting to start their own business on the pitfalls you have encountered. Advertise with link exchanges, with other websites that have similiar products. you will be surprised how that helps get your website listed on search engines.
Those are the only things I can think of. Good Luck
2007-02-01 16:00:13 · answer #2 · answered by Anonymous · 0⤊ 0⤋
The things you mention will be there after you're successful but, they won't be so painful. It's just part of it. There will be more challenges ahead. When a door gets shut, find another one. There are a few free things at http://ewebsmith.com that may help you. Most things are just like what you are doing. You apply for jobs and get turned down so, you apply for another one. You drop a pass playing football so, you just catch the next one. You miss a shot playing golf so, you go on to the next one. You have a flat tire so, you repair it and move on down the road. What happened yesterday doesn't exist today. Think about your next shot not your last one. Your dream is where you are going, not where you were 5 minutes ago.
It takes months of hard work to get to cash flow online and years to make a living at it. Like any business, it won't happen overnight. Work with ambition, not expectation. Expectations lead to disappointment. Place ads online because it's the right thing to do. Be pleasantly surprised if they generate a lot of hits. If you know you are doing the right things, eventually it will work out.
2007-02-02 01:38:13 · answer #3 · answered by Anonymous · 0⤊ 0⤋
It isn't if YOU know it is going to be a winner, it is what you can convince them of. Have you done a complete business plan? That in itself will not guarantee you a loan, but it will show the lenders that you are serious and that you have done the homework on pricing, costs, overhead, etc.
The best way to start a business is to do it yourself. If you can't afford to pay for it now, then you can't afford to pay back the debt if it fails. And statistically, it is going to fail. Try to go around the loan process and raise the capital on your own. Then you don't have to worry about making loan payments or paying the light bill.
2007-02-01 16:00:08 · answer #4 · answered by Steve H 5 · 0⤊ 0⤋
Just remember a few great words, a few great men spoke. "Being defeated is often a temporary condition. Giving up is what makes it permanent". (Picabo Street)." When you're looking at the sun, you see no shadows. When the outlook isn't good, try the uplook-it's always good". (Zig Ziglar).
2007-02-01 16:05:44 · answer #5 · answered by Laura S 4 · 0⤊ 0⤋
I know how you feel mate, i am in the same boat at the moment, everything you try, seems to backfire on you. my advice is, if you really believe then it will happen, so kep trying and your dreams will come true, good luck, im routing for you mate
2007-02-01 15:57:39 · answer #6 · answered by JENeylon 1 · 0⤊ 0⤋