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    6 Replies Latest reply on Mar 19, 2010 12:55 PM by JesseLee

    Starting Out Advice

    Mentee Newbie

      If you were to give someone the best piece of advice you have prior to starting their business, what would it be?
        • Re: Starting Out Advice
          bmt2008 Adventurer
          Be passionate and dedicated to what you do. If you are not passionate - the long hours and fustration will take their toll. As a side, just never give up. What you think your business will be now - may not be true tomorrow. Be willing to change and adapt - just don't give up.

          Business Money Today
          www.businessmoneytoday.com
          1 of 1 people found this helpful
          • Re: Starting Out Advice
            rdemarce Newbie
            Don't be afraid to step out of the box, but do it intelligently. Don't fall for tricks, plan what you're doing, think about what you want to do, and ALWAYS make educated decisions. Most Importantly, don't surround yourself with negative people.
            • Re: Starting Out Advice
              Uncle Leon Tracker

              This has been said so often that everyone is probably sick of hearing it. But there are many reasons in is adviseable (necessary).

              Create a Business Plan. Create a Business Plan. Create a Business Plan.

              Even in a very simple business. this should be done. WHY???

              The business plan forces you to THINK THROIUGH each aspect of your business BEFORE you do it. It will often reveal "holes" in your planning. It will force you to contend with obstacles before these obstacles cost you REAL DOLLARS.

              The Business Plan will include a MARKETING PLAN, to show where your business will come from, and why people will buy from YOU instead of all your ESTABLISHED competitors. It will also include a FINANCIAL PLAN to show how much money you will need until you surpass your "BREAK-EVEN POINT" (including your salary). Once you've planned your financial needs as best you can determine, ADD 50% as a safety factor.

               


              AND FINALLY, one of the best reasons for Business Plan is that it can show you if, perhaps, you shouldn't be doing this at all, and save you thousands of dollars of loss due to planning. If it does that, you will be disappointed. But it will have been an extremely good investment of your time and effort.

              Uncle Leon sedit.
              • Re: Starting Out Advice
                JesseLee Wayfarer
                Do lots of research and be ready to work hard for free.