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    19 Replies Latest reply on Sep 8, 2008 9:50 PM by kathiemt

    Where should I start?

    LoraMoore1971 Newbie
      Hi, I was wanting to start my own business up since it is getting harder to look for one each day, and also from getting tired of answering to so many bosses from my previous jobs. I have had some advice from several people in the past telling me that it would be a great idea to start my ideas out, but I have so many, and with the economy getting bad I don't know which one to start with. Can anyone give me any great ideas on what I should start out on?
        • Re: Where should I start?
          LUCKIEST Guide
          Where should I start?, Welcome

          If I wanted to start my own business, I would contact SCORE. SCORE is FREE

          both in person and on line.

          Tell us more. Who are you?? Where are you?? and what kind of business??

          the more you share, the better we can help you succeed,

          LUCKIEST
          1 of 1 people found this helpful
          • Re: Where should I start?
            Tori Adventurer
            Hi LoraMoore1971,

            Welcome to the Community! Congrats on wanting to go into business for yourself.

            Tell us more. Vince was kind enough to put someting together for recently registered members to get the most out of your post:
            Did you just join the community? Read this first.
            • Re: Where should I start?
              sootheyoursou Newbie
              Hello Lora,

              I would like to share something great with you? What state are you located? Also, please email me offline at chiezda@pampering2prosperity.com

              I have a mobile spa business and really enjoy sharing with others the wonderful benefits of the Wellness Revolution. Wouldn't you agree that people are living longer healthier lives? With that said, I offer them creative solutions to do just that with organic products. GO GREEN.

              Wishing you tremendous success and I look forward to hearing from you soon.

              Warmest,
              Chiezda Washington
              aka Soothe Your Soul
              • Re: Where should I start?
                Mybizfiler Adventurer
                Hi,

                There are numerous business ideas, it depends on which area (science, accounting, or medicine) is of interest to you. You can also look at opening franchises, restaurants, day care centers, recruitment agencies, the list can go on and on, but bottom-line, it all depends on your interest and prior experience. We can help you with a detailed market research, but it costs money as we have to deploy manpower to do that research for you, let us know if need our assistance there.

                Once you have crystallized on the business type, we can certainly help you with other complicated issues such as Formation of an entity, Book keeping, payroll processing, tax planning, business consulting etc, and we provide all this at competitive pricing.

                 


                ICS can help you and your business with accounting, financial and compliance related services. ICS, Inc (http://www.mybizfiler.com/) offers a wide range of services typically offered by a Big 5 Accounting firm and a CPA firm in the U.S. ICS offers Incorporation, Book Keeping, Payroll Services, HR & Business Consulting etc.

                 

                Contact ICS today at 203 437 4083, e-mail - sales@mybizfiler.com, or by accessing 24/7 chat page on http://www.mybizfiler.com/. You can even visit our informational blog site at: http://mybizfiler.wordpress.com/.

                Best Regards,

                MyBizfiler
                1 of 1 people found this helpful
                • Re: Where should I start?
                  TheEducator Newbie
                  Hi Lora,

                  I understand what you mean about answering to other people. Even when you have good supervisors, something always comes up, and you're always working for someone else - never for yourself. Starting your own business is a great idea. Since this is in the "Home Based Business" forum, I assume you'd like a business you can run from home? Check out www.better-educated.com and see if it's for you. I recommend signing up for the free information.

                  Liane
                  • Re: Where should I start?
                    simon07 Wayfarer
                    Hello Lora, My wife has a hobby of making jewelery. Eventually, she turned that hobby into a part time business for herself. It keeps her busy, happy, and the extra income is good. Suggest you follow your passion.
                    • Re: Where should I start?
                      Tracker

                      The best reply I have for you is an article I wrote (its on my website and in other publications), based on 26 years experience as someone who has started, funded bought and sold many businesses over those years. I'm going to put it here for you and I hope that it helps you and others that read it:



                      If you are reading this, chances are that you are looking to make a change. Perhaps you are looking for a business to start or to buy ... something to create a better lifestyle, with more opportunity and more money for you.

                       


                      For many people it's the money that drives them. But being passionate about making money can drive you to take on things or get into ventures with only the thought of the money driving your decision.

                       


                      Is the money important? Absolutely!

                       


                      Is how you make it important? Yes, if making your life more comfortable is also one of your goals!

                       


                      This factors in because if you started or bought a business that is capital intensive and/or heavily regulated and competitive you could find out that the business became the worst high-pressure job you ever had. You do want to choose an industry that is growing but any industry or market that is growing fast is probably also a highly competitive one (and may become increasingly so). Unless you have a lot of money behind you it is better to think tactically than strategically about entering such a market.

                       


                      The same can be said for starting or buying a business that you are unsuited for.

                       


                      If you are not a "people" person then you may not want to buy or start a business that calls for you to interact frequently with people. If you are not comfortable in a sales role then do not start or buy a business where your success is tied to your personal sales efforts. One thing to keep in mind here; as a business owner you are always going to have to perform some level of "salesmanship" for your business. So understand this going in so that you are prepared to accept that as part of owning your business.

                       


                      I tell clients and people that I talk with about starting or buying a business to be methodical in how they approach either one. Don't jump ship, leave your job and pin all your hopes on something (the business you plan to start or business you buy) trusting that all will be well. Sometimes they aren't.

                       

                      I've been successful in several businesses (from writing, publishing, manufacturing to business services) but have also had flops. That's normal experience for someone who's been an entrepreneur for 26 years. Often you learn more from your failures than you do the successes. Odd but true.

                       


                      *Here's how to learn from your "likes and dislikes" and those things that don't work out for you and use them to find the right business for you: *

                       


                      Step1

                       


                      Take the elements of the things you have tried in the past that you spent time and money in exploring as business opportunities, that you like or dislike, but that did not work out (and do this also for your current job).

                       


                      Step 2

                       


                      On a sheet of paper draw a line down the middle of it. On the left at the top of the page write "Bad" and on the right top write "Good".

                       


                      Step 3

                       


                      For each thing you have tried and regarding your current job, list out the bad and the good aspects of it; the bad will constitute the determinants of why it did not work out for you or why it did not make you happy or fill you with any passion. The good are the positive elements that helped offset the bad but did not carry enough weight to make it work for you.

                       


                      Step 4

                       


                      Once you have done that look at what you've written. Take a new sheet of paper and transfer all the good things to that page. This becomes a profile of the things that were positive that you need to look for in a business or opportunity that may present the most attractive and suitable scenario for you.

                       


                      Step 5

                       


                      Now with your "Good" profile in front of you, take the market or industry that interests you, think about how you can utilize those good aspects in a business of your own serving that specific market or industry. Make notes about the different businesses that you can start or buy that have those good aspects to them. Those should be your focus.

                       


                      Step 6

                       


                      Once you've done that calculate what I call your Personal Economic Burden (all your monthly personal expenses that you need to pay to live: mortgage, rent, insurance, food, utilities, car payments, etc.). Total that up and add 20% to it (10% for miscellaneous and at least 10% for savings). Take that total amount multiply by 12 and divide by 365. That is the daily amount your business must generate for you to be "comfortable". We'll call that the "Comfort Number". That's not making you rich but if you achieve it; it will give you a solid foundation to build on so that you can make even more money.

                       


                      Step 7

                       


                      When you have that daily number and with it in mind, review your notes from number 5 above and research to determine if you feel that business can generate what you need to meet your Comfort Number. If so, then that is a business you should focus on starting or in finding to buy.

                       


                      *Take some time to think things through - never jump blindly or go off on a path that you're not reasonably sure is going to lead you to where you want to go. The above steps will help you. *

                       


                      Good luck and best fortune to you (and fortune favors the prepared)!

                       


                      Dennis Lowery

                       

                      Adducent, Inc.
                      • Re: Where should I start?
                        Residuals Newbie
                        Hello, I have this great opportunity for you. Where are you located? I can help you with this opportunity that can allow you to fire your Boss. Please give me a call at 972 693-8567 and let's make some money. Lots of money
                        • Re: Where should I start?
                          notaging Wayfarer
                          Lora,

                          Go to solutions4antiaging and click on the 2 minute video. Call me when you are finished at 206-218-5623.

                          Have a great weekend!

                          Eric Kristjansson
                          • Re: Where should I start?
                            sweetshop08 Newbie
                            In May 07 I was working for a car dealer I fell at work, an hour after they fired me. I really hurt my back. My problem was that we had just purchased our home and we had a mortgage payment. They haven't taken care of me so I also didn't know what kind of business to get into since i was limited. I did a few months of research and I started an internet Business which specializes in woman's Lingerie as I met more and more women they asked for lotions, bachelorette items etc. When asked to do Home party's with Lingerie and more . I can make up to $1000 in the two hours that I do the parties. I also had my Notary License and I became Ordained. I recently took a class at the county recorders that will allow me to issue Confidential Marriage Licenses. So by doing that You sell the license and Marry the couple. You charge $70 for the license, $10 per signature, and $199 to marry them which cover your gas, your time. I also just Incorporated my Business. I just there are many different types of business to venture into good luck.
                            • Re: Where should I start?
                              xxPeter Newbie
                              We started this Tele-Communication Home business Jan 08 and it is booming. Excellent support and nothing to inventory. See my site and see what you think. http://www.viprebellion.com/pcms/?f=mediaAlbumItem&media_album_item_id=48

                              WWW.5Linx.net/Fortune. Click Make$. Any further details contact me or my daughter at: Lcsteel@mindspring.com

                              Good Luck
                              • Re: Where should I start?
                                kathiemt Newbie
                                Lora, what are you good at? What are your skills and abilities? You really need to think about what you can already do and then what might be achieved by doing those things.

                                I enjoy typing and doing things on the computer so setting up a homebased secretarial business was ideal for me, and later when the Virtual Assistant industry developed I was in a perfect position to get involved.

                                I encourage you first to do a self-analysis on what you enjoy doing and what you are good at doing and then research to see what kinds of businesses can be run using those skills and abilities. Joining chat forums where there are people mixing and mingling doing the very things you have an interest in will help you determine if there's an opportunity for you there. Yahoogroups.com has thousands of chat forums.

                                Start with what you know and over time you'll be able to develop your skills further and add to that.

                                Hope this helps,

                                Kathie