i have more than 50k sitting in the bank, i wanna start my own business but i dont know how or what,. help pls

Question

i need help starting my own business, dont know what to do, or how to do it. i have little of money, and dont know if it is enough though. what should i do?

Answer 1

Keep it in the bank. Without any business knowledge behind you, and no real focus, you'll stand to loose most of that money just making mistakes you should be avoiding, possibly in the first two years.

Until you have something narrowed down as a business you can get excited about, and STAY excited about, and have researched that business considerably, don't put a penny into it.

Answer 2

$50K is plenty to start some businesses, not nearly enough for others. If you are starting a business full-time, you have to include money to live on until the business starts making a profit.

Only you can say what you are interested in for a business.

Good luck.

Answer 3

There are many franchises that can be started for $50K or less (and plenty that can't). Check out this blog article on low cost franchises:
http://smallbizrocks.blogspot.com/2007/09/small-budget-try-these-low-cost.html

And here's a great guide from Inc. Magazine that goes over a lot of the basics of investigating and starting franchised businesses:
http://www.inc.com/guides/buy_biz/20674.html

Best of luck!

Answer 4

Hi Jeffery, I too requested the equal query. I are living in Pa additionally and began a dwelling centered industry that took off and am serving to others do the equal. I handiest labored it facet time considering the fact that that's at all times I had. We are increasing for your field and I might like to inform you extra is there a quantity or e-mail cope with that I might achieve you at to inform you extra. Look ahead to listening to from you clearly HOlly F

Answer 5

try ebay!