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Tips for starting up a business?

I’ve been thinking about starting my own business for a long time now... but it’s hard to find out where to even start! If anyone has tips for starting up, do’s/don’ts, or just advice in general I’d be glad to hear!

Smallbusiness | 👁 1142 | Posted 2018-03-07 | Share on Facebook | Twitter | Google+

| Modified: 2018-03-07 | Author:

13 Comments

CapeMOGuy 2 years ago

A business plan is based on research, not your opinions. You need fact based information and research on things like market pricing, market share, financial statements, cost of goods sold, insurance, rent, payroll, your salary etc. Take a little time and get this right. If in the US go see your local SBDC or SCORE office. They will help for free.

illithid66 2 years ago

(I am doing this, for what it's worth.)

OfficialKatana 2 years ago

Make a business that solves problems and you will always have a business no matter what it is. Also, consider what your goals are. Do you want to build a business over time that you don't depend on financially or do you need cash next month? Heavily consider your goals and why you're starting the business. Next, is there anything that people constantly ask you questions about? If people always look to you for answers on a particular subject, you have a business. Some also call this, "following your passion" or "following your natural talents". If you have a true talent that many will appreciate, you've probably heard it throughout life and know what it is. I wrote an article detailing tips for success in the business world that I think will be of help to you. It is geared towards women, but the same applies to men: https://viva.media/leadership-success-tips-for-women?_ga=2.45006436.1316303822.1519102724-1938137364.1514405503

ionlydrawdicks 2 years ago

Prepare to have about %15 more an expenses than you planned for. If you're able to pay a year in full on a lease, it will ease your mind and make it much easier. And properly market! Be apart of the community.

Haiko_Hayn 2 years ago

Here are some tips on what to do or not to do, entering the business world: To DO's: Analyze the market and competitors. Always follow best practices, sometimes risking, if you are sure. Collect as much information as possible, ensuring the good base for your decisions. Do not be scared of failure. Act as it is a game that you wish to win. Not to DO's: Do not close your eyes on the failures, and especially, on the success. Try pulling out information from every piece of a result. Do not underestimate/overestimate the competition. It will crush your morale and financials. Do not try to compete with big competitors. You are small so having a small market share is okay for the first several years. Try finding companies with the same size as yours. There are many methods of doing everything, but these are the ones that helped me out in my startups. Here are some useful articles that will help you out in your research: Why Data Scraping is What Your Data Collection Strategy Needs? Investment Decision Making Enhanced with Data Scraping

trashcat303 2 years ago

Create the business plan, line up your problems and start solving them one at a time. If you keep on solving the problems then you might end up with a successful business.

devonthed00d 2 years ago

https://m.youtube.com/watch?v=ZXsQAXx_ao0

ajpiko 2 years ago

highly recommend you stow your passion business and start an even smaller business, something you can run for 6 months without a lot of investment, and learn about business mechanics. then after you go through that, do your passion. no one ever takes that advice tho, obviously, since thats not how passion works.

RayanThomas 2 years ago

Yes, start it. There is nothing standing in the way of your starting your business except yourself. Do the first thing that needs to be done.

SmallScreamingMan 2 years ago

I actually do need a large piece of land if I want to do this properly (doggy day care and kennel) so thats a bit of an issue. I guess I could get a smaller building when I first start out though

RayanThomas 2 years ago

Limit your fixed expenses in the beginning. In the beginning stages of a startup, keeping your expenses low is the key to longevity. You dont need a huge elaborate office in the heart of your city or fully catered meals three times a day.

SmallScreamingMan 2 years ago

As much as Id love too, I need money and lots of space as well people to help!

Lisa555555 2 years ago

Just do it, now! :) Seriously, make a business plan. It doesn't have to be an elaborate plan. It can be revised. All plans start with a purpose. Putting it together, in a simple plan to start off. Have expectations of where you want to be, how you plan to get there - what do you need to get started, how much time, how much product or supplies, how will you market, etc. and begin. Continue to revise and formalize. Should your business require a small loan, a Business Plan will be important.


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