Starting a Business?

[BusinessEntrepreneur]

Does anyone have any experience Starting a Business? I am in need of some easy steps to follow to ensure success.

Thanks

[domore]

Are you serious?

[kk13]

1st...have an idea...

[TechWiz101]

Hi there, here are a few simple tips on how you can get started:

1. Have a Business Idea (this should be your secret, tell no one about it! Not even your best friend).
2. Put it on paper how you intend to achieve it, through practical means.
3. What is the vision of your business?
4. What is the mission statement for your business?
5. Who are your target audiences, or consumers?
6. What problem will your business solve?

These are just the basic stuff. I remember staying up for 2 nights just to work on this. Did a lot of thinking into it as well!

[Mega B]

i think you are having a laugh Nothing in life is easy.

[TechWiz101]

Yeap, I did have a good laugh when I thought about it.

Yet again, when I finally updated my Business Plan last night, and made some detailed corrections to my findings, I felt extremely satisfied with the Business Plan.

It's really worth the effort! Haha!

[Mega B]

@TechWiz101 as you say you only get out of life what you put into it,

[SerialEntrepreneurs.]

Carefully choose your idea and make it BIG.....make sure you surround yourself with the best for assistance and LISTEN & LEARN...don't be a know it all and LEARN from your mistakes....there is LOTS more but the most important thing is follow your passion and do what you enjoy.....

[TechWiz101]

Yeap, doing what you love and have passion in is most important.

Otherwise it'll be the same as working for someone else.

[sukhjeet_vfusion]

Wow, that's a really an open ended question. There are a few questions you need to answer before moving on.

- how much knowledge do you have about business (structures, finances, taxes, etc...)?
- how much time do you have to dedicate to the business?
- Is there a specific interest that you have (you may be a cook, or a computer geek like myself)?
- depending on your location, have you done any research to see if the business your interested in is viable?
- how much money do you have to invest into the business?

That would be a good starting point BEFORE even thinking about a major business plan. Without answering those questions, you will not be able to create a business plan, and without a business plan, you will not be able to get major funding ...

Thanks,
Sukhjeet Singh
co-founder of The v-Fusion Group

[Brainy]

Here are some resources you might look through...

SBA Small Business Handbook Online Copy 80 Pages

Brainys Online Pile of Resources for Business

[jimjim89]

Does anyone have any experience Starting a Business? I am in need of some easy steps to follow to ensure success.

Thanks

My two cents:

A successful life is one that is lived through understanding and pursuing one's own path, not chasing after the dreams of others.

I altered it to make it more business friendly:

A successful business is one that is based on understanding and pursuing one's own idea, not chasing after the dreams of others.

And:

The successful person makes a habit of doing what the failing person doesn't like to do.

What i'm trying to get at here is success doesn't come easy, nor is it guaranteed. If it did everyone would be successful, driving around in Ferraris, living in mansions and going home to glamour models at night (well, I would anyway).

Although success can't be guaranteed, failure can be minimised. To do so you need to think about why it is you want to do business and what it is you will offer. Andrew Carnegie said:

The men who have succeeded are men who have chosen one line and stuck to it.

I can't think of anything more true. Of course, you need to ensure that the 'one line' you choose is a viable business opportunity. How do you do that? You build a business plan (Palo Alto Software has some good gear) that gets you thinking, revisiting and amending your idea.

Good luck!

[Gopal Dev]

Do you have a product or service of your own to market or do you want to promote someone else's as an Independent contractor/affiliate marketer?

Make sure you address the following issues before making any big decisions you may later regret:

Study your target market. Know what their specific needs are and how to fulfill them. Devise the best strategy to market your product, service, or business opportunity. What will your web marketing strategy be? Starting a business in this day and age without one is absolutely pointless. You can only make money if people are viewing your web site so how will you get them there and keep them coming back? How will you follow-up with them? Any business transaction can only be completed through communication and closing deals is the most important thing. How will you do it?

The following questions are more general, but are at the very heart of whether you will succeed or fail. I strongly advise everybody to answer each one honestly and I am positive you will be on the right track.

1) Why do you want to be in business for yourself?
2) What will you need to do to be successful?
3) How much time and energy can you consecrate to building your company?
4) How much sacrifice are you prepared to make (personally, financially)?
5) How much risk can you afford to take (personally, financially)?

Let me know how your plan develops. Cheers!

Gopal (The Musical Mad Scientist and Entrepreneur)

The v-Fusion Group

[mbrand2222]

There are some great suggestions here. Also, if you just read through several strands on this forum, you'll learn a lot. And most people here will give you specific guidance in their areas if you PM them. I would guess almost everyone here has either started a small business or tried to start one at some point in their lives. Read and learn.

[Brainy]

I really think that becoming successful in small business is similar or can be similar to "becoming a good athlete".

An athlete practices his skills daily, say 2 - 6 hours per day. And then over time gets immediate feedback in the form of results after a competition. This feedback determines if the athlete is any good, and also how much more "practice" he/she needs to remain competitive.

A New business owner also must put in daily efforts, say 8+ hours per day, to learn and understand the dynamics of the business and industry he/she is in. "Opening a store" doesn't (ever) mean that the customers will come. Like the athlete, a New business owner must have some level of experience, or willingness to gain that experience, before believing that business ownership can be successful.

I have seen many people in the network marketing industry attempt to start their own business by only putting in a weekend effort. And just like an athlete, a weekend effort never really produces results for a New business start-up.

What's very important is to know or research the industry that you are interested in getting into. Many Mom & Pop Retailers save some money to start their Dream Business of owning a Retail Store - under the assumption that owning a business will automatically make them more successful financially. Once they experience the reality of the dynamics of the retail industry and see that virtually no one automatically sustains their New retail store, they wake up to reality understanding that just having a retail business location (store) doesn't lead to more income. Generally these folks end up borrowing money (credit) to keep the crazy thing open, and just being "open for business" doesn't mean customers will start coming and continue coming.

So if you understand the "work" involved in becoming a successful athlete, knowing that small efforts equal small results, you'll begin to understand that "opening a store" is never a guarantee that the business will be a success. A very successful athlete normally follows the advice of a coach, someone advising the athlete with a vast level of knowledge and experience in the sport (business).

I would say that having a coach is definitely an intelligent move (maybe the smartest move possible) for anyone, whether in sports or business. A decision that will provide the right feedback for re-aligning your day to day actions.