Rags to Riches. Is it possible?

**YidBiz** · 04-07-2007 12:08 AM

Hey! I'm 26 years-old, living paycheck to paycheck. Do you think it's realistically possible for someone like me to open up my own brick-and-mortar business? I have an idea that I think will be a great success!

**crud3w4re** · 04-07-2007 12:09 AM

What's a "brick-and-mortar" business exactly? But yes, it is always possible.

**YidBiz** · 04-07-2007 12:12 AM

Originally Posted by crud3w4re

What's a "brick-and-mortar" business exactly? But yes, it is always possible.

"Brick-and-mortar" means a physical business with a street address/location. Whereas an internet based company or mail-order, isn't a brick-and-mortar business.

**crud3w4re** · 04-07-2007 12:14 AM

ohh gotcha lol never knew what that meant. Well yeah, I hope to. What sort of business?

**akula** · 04-07-2007 12:20 AM

Originally Posted by YidBiz

Hey! I'm 26 years-old, living paycheck to paycheck. Do you think it's realistically possible for someone like me to open up my own brick-and-mortar business? I have an idea that I think will be a great success!

it's realistic if you get training in entrepreneurship

it's unrealistic if you don't

**crud3w4re** · 04-07-2007 12:22 AM

training? nah. I have made profit online without training at all.

**YidBiz** · 04-07-2007 12:27 AM

Originally Posted by crud3w4re

ohh gotcha lol never knew what that meant. Well yeah, I hope to. What sort of business?

Right now, I work part-time for a flooring store. They sell many different products. There's a specific product that I want to capitalize on. In the area where I live, flooring stores are plentyful and there are new ones popping up all the time. It's an ever growing city.

**crud3w4re** · 04-07-2007 12:30 AM

Chain or new? I'm thinking a new store, right? Do you want it to just be a profitable small business? Or would you want to expand? Anything is possible!

**YidBiz** · 04-07-2007 12:36 AM

Originally Posted by crud3w4re

Chain or new? I'm thinking a new store, right? Do you want it to just be a profitable small business? Or would you want to expand? Anything is possible!

I want it to be a profitable small business. There would probably not be plans for expanding. I like the idea of having a small "mom and pop" storefront where people can come in and shop and get to know me. That's a very old fashioned way of operating a business, but I feel that today's consumers really appreciate it when a business is locally owned/operated and has a personal touch. Makes sense?

**crud3w4re** · 04-07-2007 12:40 AM

Yes, it does. So would this be a small town store? I've heard that Walmart has killed many of these type of stores.

**YidBiz** · 04-07-2007 12:42 AM

Originally Posted by crud3w4re

Yes, it does. So would this be a small town store? I've heard that Walmart has killed many of these type of stores.

No. It's not a small town. But remember, I said FLOORING. Wal-Mart really isn't into the flooring business.

**crud3w4re** · 04-07-2007 12:46 AM

Home Depot is. But that's okay, you can always keep yourself in business, those that went out of business didn't know how to run a business in the first place. Sounds good to me. Maybe you should talk to your local SBA? That's the advice I've always received.

**wesleyb** · 04-07-2007 01:37 AM

I had a similar situation. I worked for several brick and mortar / mom and pop computer stores. I always had a dream of opening up my own PC Repair shop. But, over the years, I noticed that most of the mom and pop stores were being overran by large superstores (BestBuy, Circuit City, etc.) The PC shops I worked for are now finding it increasingly hard just to keep the lights on.

I'm sticking to what works for me...

**The Stealthy One** · 04-07-2007 07:45 AM

Originally Posted by crud3w4re

Home Depot is. But that's okay, you can always keep yourself in business, those that went out of business didn't know how to run a business in the first place. Sounds good to me. Maybe you should talk to your local SBA? That's the advice I've always received.

I'm going to have to ask that you quiet down a little bit. The OP is asking for advice from experienced B&M entrepreneurs, which you are not. You have somewhat taken over this thread, and it's disgusting.

**skyjoe76** · 04-08-2007 09:02 PM

It is always possible to start your own business. To make them shift requires lots of effort, time, commitment and determination.

First, do some research, educate yourself about business. The more you know, the lesser the risk is. Always be mentally prepared to face challenges and even fail.

Failing is a essential part of business growth.

Talk to people who are successful in the industry that you are interested in. Get them to mentor you, or invite them for a lunch interview. It can shorten your learning curve by at least 1 year.

Start reading business books and attend business seminars if you had never do that before.

Attend as many business opportunity presentation as you can. Learn from those presentation but be cautious about joining them.