After being in business for 15 years, I can now look back and, with a more realistic perspective, see what I did wrong or could have done better when starting my up my bed and breakfast.
First of all, I should have known more about the type of business I was getting into. I had a very romantic notion of what a bed and breakfast was, although I did do a lot of reading on what was available on the subject.
But, it's what I didn't do that may have made a difference. I did not, but should have: 1. scoped out B&Bs on the internet, 2. talked at length to B&B owners 3. spent the night in several different kinds of B&Bs and 4. gone to a major industry conference or two. 5. found a seasoned B&B owner to me my mentor.
Secondly, I should have talked to a lawyer about the business aspects involved. And, I should have had a business plan.
Thirdly, I should have investigated all the zoning laws, historic, city, health and fire regulations.
Finally, I should have had more money at the onset. Or, at least, sat down with someone knowledgeable about the business and discussed the initial costs involved.
To be perfectly honest, I am a risk taker and, if I had done all of the above, I probably wouldn't have gone into business at all. However, my business turned out to be very successful and I attribute that to pure blood, seat and tears.
focus, business plan, marketing plan these are some of the things you must have, check on my common small business start up mistakes
as an entrepreneur who has successfully started two small businesses of my own and a few for other people.i have had seen a number of pitfalls that can destroy any business; big or small. here are a few as outlined in my hub http://hubpages.com/hub/smart-small-business
• Giving room to frustration:
• Being afraid to delegate:
• Not separating company’s account from owners account:
• Resenting criticisms:
• Keeping your plans to yourself:
• Relying on one source of funding:
• Improper financial record keeping:
Frankly, I'm a host of risk and, if I had you during all the above, it has been running businesses in all. My business was very successful and pure blood, sweat and seat.
by Originplus 9 years ago
I'm doing research on how to start up a small business. I need info on setting up a business plan does anybody have an idea , any good website or an example of a business plan. Anything in regards to starting a small business is helpful. My small business will be base on car services in the tri...
by Simone Haruko Smith 6 years ago
What advice can you give on starting a business? (Weekly Topic Inspiration)Are you an entrepreneur? Have you ever dreamed of starting your own company someday? What have you learned in the process, or what useful knowledge have you gained from your research? Share your findings as part of this...
by Amanda S 6 years ago
I would love to have my own business some day but have no idea where to begin. Any suggestions for a beginner? I do not have a lot of disposable income yet, so I would need to start small. I would love business venture suggestions, tips and tricks, things to consider or research that you may have...
by Cholee Clay 5 years ago
My husband thinks it would be a great idea if I started looking into creating my own bakery. I do love to bake, and I create some crazy delicious cookies however I'm not sure I would be cut out for the baking industry. My family loves my baking, but I'm not sure I would be good enough for complete...
by HKG 4 years ago
How to use of business plan in small business and finance from banks & financial institutions.
by EllisPar 8 years ago
Is there a way to get in touch with Bill to ask questions about the business formallities?
Copyright © 2019 HubPages Inc. and respective owners. Other product and company names shown may be trademarks of their respective owners. HubPages® is a registered Service Mark of HubPages, Inc. HubPages and Hubbers (authors) may earn revenue on this page based on affiliate relationships and advertisements with partners including Amazon, Google, and others.
|HubPages Device ID||This is used to identify particular browsers or devices when the access the service, and is used for security reasons.|
|Login||This is necessary to sign in to the HubPages Service.|
|HubPages Traffic Pixel||This is used to collect data on traffic to articles and other pages on our site. Unless you are signed in to a HubPages account, all personally identifiable information is anonymized.|
|Remarketing Pixels||We may use remarketing pixels from advertising networks such as Google AdWords, Bing Ads, and Facebook in order to advertise the HubPages Service to people that have visited our sites.|
|Conversion Tracking Pixels||We may use conversion tracking pixels from advertising networks such as Google AdWords, Bing Ads, and Facebook in order to identify when an advertisement has successfully resulted in the desired action, such as signing up for the HubPages Service or publishing an article on the HubPages Service.|