How can I start a business?

Answer 1

There is so much to learn about starting a business that it is hard to put everything here.

Starting a small business takes a lot of courage. But, as they say, courage does not pay the bills. To be successful – to stay in business – you need more than courage. You need a combination of hard work, skill, perseverance, and lots of luck.

Some things you need to consider:
- "How can I support my family while I build up by business?"
- "What are my abilities?"
- "Is there a market for the product or service I have chosen?"
- "How long will it take this business to reach the financial goal I have?"

Here are six basic steps to launch a new business successfully:

1. Provide a benefit.
2. Determine the fit with your market.
3. Right timing is everything
4. Be ready to support your business
5. Develop a blueprint for success
6. Market, market, market

I recommend that you read the following books:

- What No One Ever Tells You About Starting Your Own Business : Real Life Start-Up Advice from 101 Successful Entrepreneurs
- Starting From Scratch: How To Start A Business When You Don't Have Money
- If You're Clueless About Starting Your Own Business and Want to Know More
- On the Move : How to Succeed and Survive As an Entrepreneur
- How to Make 1000 Mistakes in Business and Still Succeed

If you need guidance in starting a business, there are several places that provide help to starting entrepreneurs. Here are places where you may be able to find a mentor:

- Government Mentoring Programs such as SBDCs, which works with community colleges and local business development councils to offer mentoring programs http://www.sba.gov/sbdc/sbdcnear.html ; or the Women's Network for Entrepreneurial Training http://www.sba.gov/womeninbusiness/wnet_roundtables.html
- Volunteer programs such as SCORE http://www.score.org which is composed of mostly retired executives and entrepreneurs
- Formal mentoring programs such as Athena Foundation http://www.athenafoundation.org/programs/globallinks.html , Helzberg Entrepreneurial Mentoring Program http://www.helzbergmentoring.org/HEMP/ , or The Aspen Institute MicroMentor Program http://www.micromentor.org
- Professional organizations such as the National Women’s Business Council http://www.nwbc.gov/Mentoring/programs.html
- Industry and trade associations
- Local business groups, such as the chamber of commerce
- Local chapters of business groups

Answer 2

The first thing I would look at is investment and capital requirements for the business.


Your plan would be a start up plan as you are not an existing business, determine what is most important in your plan.
Form follows function, make the contents of your plan match your purpose and adjust the outline to match your plan.

You will need to have an investors summaries and loan application, when a plan is used to back up a loan application or explain an opportunity to potential investors, it may require a special summary document as well as the complete plan.
Many investors like to see a brief summary, and loan applications do not always require a complete plan.

Time frames, is three years enough? Your plan should project sales by month for the next 12 months, and annual sales for the following two years.

Here is an outline in sequence in a standared business plan

Executive summary

1. Objectives

2. Mission

3. Keys to success

Company summary

1. Company ownership

2. Company history

3. Company facilities and location

Products and services

1. Product and/or services both with discription

2. Competitive comparison

3. Sales literature

4. Sourcing

5. Technology

6. Future products

Market analysis summary

1. Market segmentation

2. Target market segment strategy

3. Market needs

4. Market trends

5. Market growth

Industry analysis

1. Industry participants

2. Distribution patterns

3. Factors of competition

4. Main competitors

Strategy and implemantation summary.

1. Strategy pyramids

2. Value proposition

3. Competitive edge

4. Marketing strategy

5. Positioning statement

6. Pricing strategy

7. Promotion strategy

8. Marketing programs

9. Sales strategy

10. Sales forecasts

11. Sales programs

12. Milestones

Management summary

1. Organization structure

2. Management team

3. Management team gaps

4. Personnel plan

Financial plan

1. Important assumptions

2. Key financial indicators

3. Break - even analysis

4. Projected profit and loss

5. Projected cash flow

6. Projected balance sheet

7. Business ratios

8. Long term plan.

I hope this help you a little.

Answer 3

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 4

Do you have a business in mind? If not, network marketing business is the easiest way to start your own business. There is minimal start up cost and the training and processs of success is already layed out for you. You must do your homework before getting into one to make sure that it is a well established company with integrity and that has a consumable product so that you will have repeat buyers. The company that I am with is all of these things wrapped in one so if I can help just let me know!!!! Good luck to you and wish much success to you!!!

Answer 5

I would say you want to get into something that already has a system in place for you to already succeed. You want somewhere you have access to a personal mentor and an educational system. If you already have an idea then see if you can find someone you can ask plenty of questions regarding that industry.

If you don't then I would recommend finding some kind of Network Marketing business that has a good system to help you earn a living and where you have access to some good success stories and where you can get around like minded people.