Neonman had good advice to give. Like him, I am a survivor of good times and bad, having been self-employed for the past 18 years. My first piece of advice would be - KNOW THYSELF! Are you greatly self-motivated or lazy? Are you someone who can think on his feet or more of a ponderer? Are you a charmer or a loner? Are you tenacious or do you throw your hands up at the first signs of distress? Knowing the answers to all this and more go into running a successful business... and the answers don't have to be what you think they might be!
While it's very tempting to wear all the hats and do all the necessary tasks alone, that's a Very Bad Idea. You may think doing everything yourself will give you the lion's share of the profits and while that may be true, the lion's share will likely end up looking more like a chipmunk's share. You have to do what you do best and leave other tasks to those who can do them better; it is only in that way that you will realize ernough profit to stave off the urge to give in and give up. (Believe me, that urge will hit you strongly many times over!)
So figure out what you love to do, what you're good at, what you're capable of, and - maybe most important - what you absolutely suck at. Things that you hate and aren't good at can often be given to others. That need not mean paying a hefty salary, so don't be scared of hiring experts that you need on your team. Here are a few ideas to help:
Offer someone what you can do in exchange for what they can do. Barter is a very viable strategy in these economically uncertain times.
Not exactly a whiz at sales? Get friends and family to sell for you by offering them a nice referral fee. Hand a stack of your business cards out to those you know and trust, asking them to put their name on the back and give them to prospective clients they know and meet. When you get businesses from one of these cards, ask whose name is on the back and give that friend or relative a cut. 10 - 20% works well.
Depsite what anyone may tell you, it's perfectly fine and even advisable for a start-up to hire sales reps on a commission-only basis. Let your sales reps be self-motivated. If someone tells you they want salary plus commission AND all their leads provided, kindly show them the door - they'd likely be some of your worst producers.
Sometimes, of course, you will have to pay for expertise where you lack it but in the end this will increase your bottom line IF you choose your "experts" wisely. Don't listen to everyone and anyone who claims to be a "guru" - learn to fine-tune your BS meter and choose people and companies whose ideas appear sound, resonate with you, and who don't promise you the moon in exchange for 24 easy payments of $19.95/each.
It's been said a million times over but bears repeating: DO NOT fall for scams, schemes and anything that seems "too good to be true." Claims of "easy money" and "get rich quick" might make money for those who originated the idea but you could find yourself with less than you started with. Always research business prospects thoroughly.
Always listen to your gut. Your intuition probably knows more than you think it does. If something feels "off", chances are it is. Likewise, follow up on hunches and ideas that seem to come "out of nowhere."
This is a big world with many possibilities and there's room enough for all to succeeed. If you remain dedicated to your goals and your visions (make sure you've defined them first!) and are willing to invest the time and effort necessary (hint: LOTS of both are essential), you CAN beat the odds and make it.
No single article, e-mail, message board post, etc. will give you all the answers. Being self-employed sounds like a dream to most people but the reality isn't the picture of perfection that they want to believe in. Take the time to mercilessly soul-search and consider all the angles before you take the plunge. Here are a few links to help you make the decision:
http://www.aarp.org/money/careers/selfemployment/
http://www.usa.gov/Business/Self_Employed.shtml
http://www.stevepavlina.com/blog/2006/04/10-stupid-mistakes-made-by-the-newly-self-employed/
United States Small Business Administration - http://www.sba.gov
Delaware, Maine, Maryland, New Jersey, New York, Oregon and Pennsylvania have Self Employment Assistance programs. The State Workforce Agency web sites for these states can be accessed at: http://www.workforcesecurity.doleta.gov/map.asp.
Hope this helps!!
2007-09-15 06:21:42
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answer #1
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answered by Melinda R 2
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Why do you want to open your own business? What do you hope to achieve from the business? Are you a hard worker or a dreamer? Do you have an outgoing personality? How do you handle adversity? Have you ever solicited door to door?
You will need a "niche" or unique product that separates yourself from the competition. Why should people buy your product/service and why should they buy from you? Can you justify your price?
A service business is probably the easiest to open since the capital outlay is usually less. Franchises offer security at a price which a lot of people are willing to accept.
I chose to start my own company after years in the corporate world. Still I was undercapitalized, even for a service business, but 15 years later I am a survivor, maybe somewhat smarter, a lot more cynical of customers who do not pay on time and definitely more appreciative of good customers and the referrals they give. If you are interested, make sure you are ready to make the commitment to make the business succeed. And remember, when the checkbook is flush, thats when you should try harder because the checkbook will be depleted faster than you plan! Good luck.
2007-09-15 05:19:51
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answer #2
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answered by neonman 7
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Why do you decide directly to open your very own commerce? What do you decide directly to acquire from the commerce? Are you a difficult worker or a dreamer? Do you will have an outgoing character? How do you take care of adversity? have you ever solicited door to door? you're able to desire a "component to pastime" or centred product that separates your self from the competition. Why will would desire to individuals purchase your product/provider and why will would desire to they purchase from you? are you able to justify your fee? A provider commerce is frequently the finest to open for the reason that the capital outlay is on the completed much less. Franchises modern risk-free practices at a cost which an excellent kind of individuals tend to take transport of. I chosen to start my very own corporation after years in the corporation worldwide. nonetheless i became into as quickly as undercapitalized, even for a provider commerce, even nevertheless 15 years later i'm a survivor, probable extremely smarter, lots greater desirable cynical of buyers who do no longer pay on time and actually greater desirable appreciative of properly buyers and the referrals they grant. once you have an interest, be sure you're in a position to make the dedication to make the commerce succeed. And remember, jointly as the checkbook is flush, thats jointly as you will would desire to be sure out greater no longer ordinary once you think approximately that the checkbook would properly be depleted swifter than you propose! sturdy fulfillment.
2016-11-14 12:21:35
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answer #3
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answered by honeywell 4
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Chossing the right businessline coupled with a good business plan, business integrity and social responsibility should place you on a successful path!
2007-09-15 05:01:12
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answer #4
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answered by Sami V 7
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2007-09-15 04:59:25
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answer #5
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answered by Joe M 1
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Step 1: Have a good idea.
Without this you will get nowhere.
2007-09-15 04:55:43
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answer #6
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answered by ufo_josh 3
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