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I have a good idea to patten for a business that would make lots of money and need a domain name, and some kind of factory but I have NO idea how to get started.

2007-04-28 07:04:48 · 4 answers · asked by Em 1 in Business & Finance Small Business

4 answers

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!

2007-04-30 05:37:46 · answer #1 · answered by TM Express™ 7 · 0 0

You might think you do have a good idea. So do 60% of all new businesses that fail every year.
Whatever you do. Don't get the idea that it will just happen by itself for you. Because, you had a good idea and everyone around you is going to bend over bakwards to make you a super success. Bill Gates supposedly only took 2 days off in 6 years to develop Microsoft to where it is today. Are you wiling to make those kinds of sacrifices ?

Make sure you measure 4 times before you cut. I mean,don't invest anything into your amazing idea until you have reliable calculations about the start up cost,profit margin,additional expenses. The lower your start up cost and cost of making your product. The better the idea is. Don't invest an arm and a leg into it. If you don't have contracts or some money upfront from co-investors or customers.

You need to look into an industrial park Real Estate magazine for a warehouse-factory. This is going to be the most expensive investment into your business. The people who own the land or buildings know that is the best business to be in. So, you need a god demo or 2 to start selling your idea to retail chain purchasers. You should have at least one contract from a retailer who wants to sell your product for at least 1 year or is willing to buy a reasonable number of units first. So, in that case. don't invest in a huge factory. If you haven't even sold anything yet.

2007-04-28 14:34:18 · answer #2 · answered by sandwreckoner 4 · 0 0

Go to http://www.score.org/ to find the nearest SCORE chapter. In the upper left hand corner is a box to enter your zip code. Your nearest SCORE chapter will be on the next screen. Contact them to arrange for a free one on one meeting with a SCORE counselor about starting your business.

SCORE is a nonprofit organization. They provide a public service by offering small business advice and training.

SCORE's 10,500 volunteers have more than 600 business skills. Volunteers share their wisdom and lessons learned in business. The volunteers are working/retired business owners, executives and corporate leaders

2007-04-28 14:26:09 · answer #3 · answered by Anonymous · 0 0

FUNDING, LOCATION, STRATEGY, MARKETING. These are you 4 Key points. Since I don't know anything about your business I can't help you any further.

2007-04-28 17:32:30 · answer #4 · answered by Keith B 4 · 0 0

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