Need Feedback on Business Idea and Startup

**bailey515** · 02-05-2007 10:46 AM

Hello...I am in the process of trying to start up a word processing/personal assistant/virtual assistant business from my home. I have full a time job so this would be done on the side part time. However I do my full time job from home and there is a lot of downtime so I think that sometimes the other business could be full time. My hope is that when my husband and I have a child that I would quit my full time job and my word processing business could provide a nice extra income.

I am not business oriented. I understand the basics of marketing and advertising but I do not know if this business will go over in my area. I do not know who to market the business too. I want to offer services to small businesses who can not afford a full time secretary but might need someone on a temp/part time basis who will type reports, create labels, create file, do mailings, schedule appointments, data entry, database and spreadsheet creation, word processing and proofreading for college students, mailing lists, typing and copying manuals, business letters, simple brocures and pamplets, creating forms, correspondence, internet research, etc...I think you get the point.

I am not sure where to start or how to find out if the business will go over in my area. How do I tell small businesses that I am out there without breaking the bank? What kind of advertising should I do without breaking the bank?

Any ideas, comments (negative or positive), anything? I am open to all suggestions! Please help me out! I appreciate it!

**akula** · 02-05-2007 11:03 AM

okey dokey

welcome to ye

please let me quickly cover the important issues and set you some action items

1) Well done: The decision to start a business is one which is enormously rewarding. To make sure that you get the best value, remember two points;

a. There is only one right way to start a business. If you do it any other way, you will fail until you do arrive at this one correct way. This one single correct way of starting businesses is technical in nature. It has to be learnt. It doesn't come naturally. In essence, when practicing entrepreneurship, you will need to learn four distinct occupations, and there is a right a wrong way to practice these four occupations. If you practice any one of these four occupations incorrectly, you will suffer professional and person loss. It's hard being an entrepreneur.

b. You will fail. The fortunes of any given venture are determined by three factors. The least influential one of these factors are the actions (i.e. skill) of the entrepreneur (i.e. YOU). Many other factors which are outside of your control are a lot more important in determining whether your word processing business will succeed. As such, starting companies is like playing cards - skill matters, but lady luck, and a million other things, are also important.

Most importantly, in the same way that it works with shooting craps, the number of times you throw the dice, is a much more important factor in determining whether you'll win as compared to your throwing technique. This means that whilst you should statistically expect your first venture to fail, you should also expect it to lead you to a new opportunity, where you will win.

2) Action items:

a) go to http://www.intellicontact.com/
b) register for an account
c) use the software to create a survey asking small businesses about their administrative challenges in 2007 (i.e. what their admin costs are)
e) pick up the phone
f) call small businesses and ask them to participate in a survey where they'll get a report on best practices in administration as a reward
g) send out surveys using the software
h) get back results
i) make a report
j) send it to respondents with a thankyou note
k) sell your services to respondents who have answered your questions in a way that shows that they need your services and that they will pay you to solve their admin problems (i.e. willingness to outsource)

This is how you start your business: by selling a solution to people who have told you that they have a problem