can you give me some pointers on starting my own business?

Answer 1

Use this web site.

It is the web site for the SBA (Small Business Administration).

It has the best info for what you need at this juncture. ~

www.sba.gov/starting

Answer 2

Well the starting point has to be what type of business, where will it operate from- Home,office,factory. How much money can you invest to start it up and how much extra money will be needed to keep it going until it starts to bring in a reasonable return. That last point is the one that makes new ventures fail, people fail to realise just how much extra finance can be eaten up by a business venture. Lastly, is the written business plan accurate.
Now if you are new to business, these are just some of the points you will need to think about.
Or you could start a business where a lot of these points are already dealt with, one where the business plan is done and which has a simple system to follow.
Alas all realistic business startups require some cash input but if you take a look at this web site www.iolair.acnrep.com you will see an overview of a business endorsed by Donald Trump, where the start up cost is low and where, although you will be in business for yourself, you will not be by yourself.

Answer 3

Hello:
It's a good idea to start your own business.However the following criteria that might help you to look into.

1.Strong product & services that is needed for everyone.In this regards you have to be very competitive with your competitors.Reseach have show that 10 out of 8 businesses fail in first 12 months.
2.Captial is needed that involves a risk on your part.
3.Intially your capital cash outflow will be more where your breakeven would take atleast more than a year before you would be seeing the profit potential.
4.Intially you might be able to make some mistakes in your decision where you will learn with your own costs.
5.What about expertise? Who is willing to teach you?
6.Inventory! need space to rent or buy on lease.
7.Employees headaches.
8.Monthly taxation or accounting part.
9.Time consuming (If you have a job at present) Will you be willing to quit and go for business having no pay for yourself in the beggining for few months.You might think to use your savings.Isn't it?

There are many things to keep in mind.Do not take me wrong ,I am a positive minded person and I am not discourging you to not to go into the business venture but these are some pointers that may help you.I understand how you feel for owing your own business.I felt the same way sometimes back.That's what I found out.Successful people do not work this way.How?Want to know more email me.Hook up with someone who is already successful.
Thanks.
Prakash

Answer 4

1. Do something you love, not something you think will make you money. This is not airy-fairy advice. Running your own business is tough work and you will face lean times. During such times, you don't need the added stress and misery of waking up every morning, working on something you hate or which you have no interest in. You'll only make yourself unhappy and everyone around you.

2. Be market-led, never product-led. The first thing you have to ask yourself is, "Is there a market for my product/service"? If you can't identify one, it's back to the drawing board. (Also, if you answer "Everyone" - take a step back, your idea is too vague.) I can't stress this enough. Every business I have lost money on is because I ignored this step and succumbed to wishful thinking.

3. Have a Unique Selling Point. Why should people buy from you and not your competitors? Don't operate where it's overcrowded, find yourself a quiet little niche instead.

4. Don't expand until you are "screaming" under the workload! Think very carefully about expanding premises or taking on more staff. Remember, "Overhead walks on two legs".

5. Make sure you operate with healthy profit margins. Personally, I won't get involved in a business which has less than 200% profit margin - unless I think it will be really fun. You need the healthy margin because you are taking much greater personal risk and you don't have an employer to pay for your healthcare, pension etc.

6. Operating on a shoestring is not necessarily a disadvantage and it is certainly more fun. If you find yourself thinking, "I'll buy that and everything will be OK", chances are, they won't. Don't throw money at a problem, think!

Running a business is tough but it's also great fun and a great platform to realise your potential and personal ambitions.

Best of luck!

Answer 5

The best thing to do , is to go to your local library which may have quite a few books on this topic and study them sincerely .
Also you mat sign up for any small business program that may be conducted by the local govt or private agencies or Chambers of commerce or Business associations. etc.

Do something which you are fairly knowledgeable about, put in your own money with very little finance if at all from banks/institution etc,join only people whom you know very well, or it should have some distinct advantage by way of technical advantage or uniqueness,or catering to an unsatisfied demand,or have potential for a large customer base etc.

Answer 6

There are two important steps you need to go through.

The first is to learn about the product your are selling, who will buy it and why and at the same time understand what it means to have your own business (which is hard as well as rewarding) and make sure you are committed to it.

The second is to answer the question "how will I get my first customer?" Putting that in motion will give the validation and first cash to get your ideas flying.

Good luck!

Answer 7

It depends in what are you interested in. The business to be in nowadays is in health and well being. If you are open to another stream of income let me know.

Answer 8

You can start a nice business with Google. You can publish a useful web site. And Join with google adsense.

I am also doing that.

see my web site.

http://deansubasinghe.googlepages.com/home

Answer 9

can you give me some pointers on starting my own buisiness?

Answer 10

Hi, the best business opportunity today is in wellness and anti-aging.Check out this company,they have superb unique products clinically proven to work. www.4health411.com