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    4 Replies Latest reply on Feb 9, 2012 9:08 AM by jaybally

    Where do I start?

    andet Newbie

      I have what I think is a great idea for a small business in my area.  I am terrible at selling anything and have NO experience at all when it comes to business ventures.  I know I will need start up loans, etc., I need someone to point me in the right direction because I know that I need to take care of quite a few things way before I even begin to look for loans.  So, where do I start?

       

      Thanks.

        • Re: Where do I start?
          LUCKIEST Guide

          Welcome, You start by telling us more about yourself and where you are located.

          DO NOT give away your idea, but be a little more specific about what you need.

          Do you need bookkeeping advice?? a business plan??

          Do you know how much start up loans ($ amount)?? For how long??

           

          We can help if you ask the right questions.

           

          Good luck, LUCKIEST

          • Re: Where do I start?
            OfficeGoddess Navigator

            Start by deciding what type of business you want to own.  Then go to www.choosewhat.com for a comprehensive checklist for setting up a business.

             

            Lily Chambers

            The Virtual Office Goddess, LLC

            Author: How To Do Your Own Small Business Bookkeeping

            • Re: Where do I start?
              CorpCons08 Ranger

              andet,

               

              Welcome to the Small Business Online Community.

               

              Congratulations on entering into your own business venture. It can be a very exciting time, but at the same time, it can be a rollercoaster of emotions as you try to plan, develop and execute a successful launch. I would recommend hiring a business consultant to help you through all the stages so that you can focus on what you do best.

               

              I would be interested in speaking to you further about your idea. You can contact me by clicking on my name at the end of this message.

               

              Regards,

               

              Dan

              • Re: Where do I start?
                jaybally Adventurer

                Hi,

                 

                The best advice I can offer you may be different from the advice you may have heard from others on this forum.  My advice would be as follows:

                 

                1.  Focus on what you're passionate about - what you love.

                2.  Ideas are worthless, it's all about team and execution.  Folks will tell you "do not share your idea" - in fact you should do the opposite.  Here's an exercise; find an idea that you like out there (that is not yours) and work your hardest to try and find someone / some company to steal it.  Take a great idea and send it to 1,000 folks then wait to see who steals it, it just does not happen.  Thus I would encourage you to talk to as many people as possible about your idea, because executing your idea ultimately boils down to having a team.

                3.  Build. Measure. Learn.  Be lean in starting up.  No need to spend money on big budgets and fancy marketing campaigns.  Launch with the intent of finding out something you do not know, which you should know.  For example, Pay Pal began as a company who's mission was to have people exchange money on palm pilots.  However, as they continued to build, they measured the effectiveness of that business model, and learned from it to create a viable product.  Your goal should be to ship a minimum viable prodcut at first.  Example; see the very very very very first version of Facebook - the current product is leaps beyond, however they were able to ship a minimum viable product, and use data to build on features and services.

                 

                I hope this helps!