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8 Replies Last post: Feb 11, 2009 11:38 PM by stillhope

lost in the big world of business

Feb 11, 2009 12:41 AM

Click to view Amelian24b's profile Professional Amelian24b 3 posts since
Feb 11, 2009

I am starting my own business but I feel like I am going in circles and doing things in the wrong order. I really dont know anything about owning or starting my own business. I've had searched the web and it feels like exactly that. A web that I am tangled in. I have been to SCORE and SBA and it has been very helpful in assisting me with outlining a business plan and trying to link up with a mentor but i still feel lost. I really dont know what my first steps are and I keep finding myself at the final step. I have a rough draft of a business plan but finalizing it has been a bit of a struggle. I try to research my market online and continuosly find myself needing to spend more money to research or get any type of information. I really need to know what is my first step so I can map everything out. Im totally lost and a confused but far from quitting.
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Click to view zanshin1ad's profile Professional zanshin1ad 5 posts since
Feb 11, 2009
1. Re: lost in the big world of business Feb 11, 2009 5:43 AM
I have answers for you. <!--[if gte mso 9]><xml>
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<![endif]-->There are entrepreneurial
minded students seeking small business opportunities that are dissatisfied with
the traditional methods of higher education. I work for a university that incorporates a new learning model designed
specifically for the needs of the ambitious, action oriented
entrepreneur. We provide online classes that teach practical, timely
business applications. Unlike other online universities whose business
degrees barely mention the entrepreneurs' needs, we have assembled a
comprehensive learning community focused entirely on entrepreneurship.

Now don't let this scare you away in thinking you HAVE to go back to school. The key is "we have assembled a
comprehensive learning community focused entirely on entrepreneurship". We have an entrepreneurial environment, community, and education that works! In fact i can educate you on a thourough and effective business plan, a scalable marketing plan, educate you on the proper ecocnomic model for your business as well as helpyou get some human resource skills under your belt BEFORE you have employees.I can educate you on how to position yourself in order to capaitalize on trends, how to find funding to start your business or expand it And how to protect your earnings from taxes as well as how to use self directed investing to insure that you build a sound future.

So, if anything I have said is of interest to you, what would you say is the most logical next step?

Alex D
Click to view zanshin1ad's profile Professional zanshin1ad 5 posts since
Feb 11, 2009
2. Re: lost in the big world of business Feb 11, 2009 5:50 AM
in response to: zanshin1ad
Im not sure where all that garbage came from in my post but i think you can read it ok
Click to view Lighthouse24's profile Mogul Lighthouse24 2,396 posts since
Oct 10, 2007
3. Re: lost in the big world of business Feb 11, 2009 1:09 PM

A few suggestions . . .

1. Get a crystal clear vision in your mind of what the successful business you are imagining will look like three years from now. Write out a description of what you are envisioning, in as much detail as possible.

2. Look at each element of your business vision, and map out the steps you need to take to get from where you are now to where you want to be in three years. For example, does the business you envisioned have a building or facility? If so, what are the steps you'll have to take to get it? Try to create a checklist of things to do. (Does the business have products to sell? If so, where did they come from - what steps did you take to find vendors or suppliers? Make a checklist. Are there customers buying those products? If so, how did they hear about the business - was there a marketing or advertising campaign? Make a checklist.) As you can imagine, there are literally hundreds of things to consider like that, so you just take them one at a time and think them through -- making a checklist for each of all the things that have to get done. (A good SCORE counselor can help you identify those steps.)

3. For each of those elements you considered, ask yourself which thing on each checklist you need to do first. Then ask yourself if you have the knowledge, skills, experience, strengths, assets, contacts, and/or resources you need to do that thing right now. If you do, then do it, mark it off the list, and move on to the next thing. If you don't have what you need to do it right now, then your first "to do" item will be to learn or find or meet or acquire the something or someone you need in order to take that step -- so you'll pursue finding that knowledge or person or resource.

4. Keep at it until you have what you need, all the tasks on all the checklists are complete, and your vision is realized. It starts slow. Very slow. But anything you learn or acquire, and anyone you meet, will help you later -- so the momentum really picks up once you get going. Just make a promise to youself that you will do things every single day that move you closer to your vision. Lots of people want to have their own businesses, but not nearly as many are willing to work every day at closing the gap between where they are now and where they want to be. If you are, you will.

Good luck!
Click to view SME_ally's profile Mogul SME_ally 42 posts since
Feb 8, 2009
4. Re: lost in the big world of business Feb 11, 2009 7:18 PM
Hello Amelian24b,

Your frustrations are shared by many who want to start their own business. But that's the beauty of starting a business, you get free education in business admin. :)

First things first, don't let your confusion and frustrations get you worked up. By your business plan, I am assuming you have already decided to dive into this business. If so, your first step is to finalize your business plan as it will act as a guide in setting up your company. The net is a great source to get secondary information for free. I am not sure what you are trying to research but if you let us know maybe someone in the community can provide some free sources. But if you have to pay then you have to pay. It's worth paying for info you can't get elsewhere to help your business.

Your second step is to work out your initial investment and how you can fund this (savings, contributions from friends, family, relatives, banks, etc).

Once you've got all your ducks in a row, it's time to execute. This stage is where you incorporate your business, get credit lines (if necessary), merchant account, find a shop, market your business, buy equipment, etc.

I'm sorry this is a bit general. But it's difficult to provide specifics because I do not know what business you're trying to set up.

In summary, just take one step at a time and try not to think about the other steps. If you get stuck with your business plan, ask the community. There are many here who genuinely want to help and provide great advice. Lighthouse is one among many who gives great feedback/advice.

Keep us informed of your progress. I wish you the best of luck!
Click to view Amelian24b's profile Professional Amelian24b 3 posts since
Feb 11, 2009
5. Re: lost in the big world of business Feb 11, 2009 10:59 PM
in response to: zanshin1ad
Thank you Alex, I was able to comprehend. What is the school name and how do I go about enrolling in those courses. What would they cost me and do you accept financial aid. I believe right now the best and first thing I need to do would be enroll in an online class or class period that focuses on starting a new business so that I can better understand what responsibilites I have acquired. By the way I want to start my own clothing line but Im thinking to build credibility and clientele I should maybe focus on opening a store. Any assistance that you have is greatly appreciated.
Click to view Amelian24b's profile Professional Amelian24b 3 posts since
Feb 11, 2009
6. Re: lost in the big world of business Feb 11, 2009 11:05 PM
in response to: SME_ally
I should have said thank you to all you guys. Everything you said was helpful:)
Click to view zanshin1ad's profile Professional zanshin1ad 5 posts since
Feb 11, 2009
7. Re: lost in the big world of business Feb 11, 2009 11:24 PM
in response to: Amelian24b
send me an email and i will give you my phone number. lots of options.

zanshin1ad@airwired.net
Click to view stillhope's profile Professional stillhope 6 posts since
Feb 11, 2009
8. Re: lost in the big world of business Feb 11, 2009 11:38 PM
in response to: zanshin1ad

Amelian, I totally get where you are coming from. I am trying to get my bridal store off the ground and it has been an up and down roller coaster. I am trying to save money to use on the necessary things and cut corners as much as I can. I have my website up but it doesnt have the look that I want it too and for a better look it is pretty costly. I am not sure if I should invest in the website being AMAZING when my intent is to have a store front.

I have gotten some hits on the site since it has been up but no contacts. I thought maybe to add some signs in certain areas but wasnt sure.

I also sell Prom gowns so I thought HEY I can call the PTSA of every high school in my city and offer 10 to 15% off on each gown purchased and giving 5 % back to the school and that fell like a ton of bricks.

I don't have tons of money sitting as I lost really big in the stocks and I barely have enough 401k to get me and my family through this.

It is getting fairly disppointing but I am trying to stay positive. If anyone has any ideas on how to change things or what I am missing I WOULD BE GREATFUL!!

www.thereisstillhope.net

It is getting really disappointing and I am beginn