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    6 Replies Latest reply on Feb 10, 2009 3:03 PM by Anne87

    Business - What should I know?

    sereneangelle Newbie
      I have always wanted to have my own business. I am interested in starting my own cosmetics store. Makeup and skin care is something I am passionate about and would like own my own store.

      What are the things I should know about starting my own business? What steps must I take?

      Thanks
        • Re: Business - What should I know?
          LUCKIEST Guide
          Business - What should I know. If I was to be starting my own business I would do two things.
          One, Develop a Business and Marketing Plan.
          Two, Contact SCORE. SCORE is FREE and they will help you succeed.
          Good Luck, LUCKIEST
          P S. Go to the Members page and add a few words about you.
          1 of 1 people found this helpful
          • Re: Business - What should I know?
            Uncle Leon Tracker
            Marketing: Who will be your target customers? Why should they buy from you as opposed to other scources? What is the most efficient (dollars out versus dollars in) ways to reach them with your marketing message? What type of "Special Promotions" can you run to initially get your business off to a fast start?

            You should also know basic book keeping. I recommend Quickbooks as a simplified method. You're accountant can help you set up your accounting fields. (You DO have an accountant, don't you?)

            You will need (at least) liability insurance. And I recommend that your form of business be either an LLC or an "S" corp. (LLC will probably suffice, but it's wise to check with an attorney. You can probably set it up yourself, on line.)

            Visit WWW.SCORE.ORG. You can locate a local chapter to get individual help (free), or you can select an online counselor, or both.
            1 of 1 people found this helpful
              • Re: Business - What should I know?
                LUCKIEST Guide
                Uncle?? Who are you?? Where are you?? Retired from WHAT??

                 

                A few words about you Retired

                 


                LUCKIEST

                 

                • Re: Business - What should I know?
                  sereneangelle Newbie
                  Uncle Leon

                  I am actually in the process of doing research before I start anything. Im researching products, etc. I do have booking skills(payroll, receivables, payables, etc).

                  Im just trying to figure out how to get started.
                    • Re: Business - What should I know?
                      Uncle Leon Tracker
                      <<I do have booking skills(payroll, receivables, payables, etc).>>

                      An excellent beginning. I assume, from your last post that you have not yet selected a product to sell. Have you considered to whom you would like to market?

                      Perhaps, as you narrow down to a "product", you may want to consider a series of similar or complementary products that appeal to the same market. That way you can sell multiple products to the same target market with the same marketing effort.

                      In addition, once a customer has purchased from you, they are much more likely to make additional purchases than those who have not yet purchased anything from you.
                  • Re: Business - What should I know?
                    Anne87 Wayfarer
                    Dear Sereneangelle,

                    Are you starting your own business already? How is it going at this economy?
                    I'm running my own Cosmetics and Skin Care Business and doing very well with it.
                    Since we have the same interest, I'd love to share you a lilttle bit about my business.
                    I'd love to hear from you.
                    You may reach me to my e-mail - nanglk87@gmail.com

                    Good luck!

                     

                    Regards.