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 week’s Weekly Topic Inspiration! For search-friendly title ideas and group support, stop by our forum thread: http://hubpages.com/forum/topic/97057
The most important for me is to THINK BIG. There is no use in starting a business if you think at a small scale. You should think it big even from beginning and make small steps towards the big picture.
I also find useful watching "The Apprentice" reality show, hosted by Donald Trump. You have a lot to learn from him.
Having gained a wealth of hands on knowledge and experience I started my first business in 2004 ona £1,400.00 credit card from home. I turned that into a £400,000.00 a year business. Now I run my second business YMB-YorkshireMarketingBusiness.com and I now have clients in many markets from textiles to property. If I can share just one peice of advice to anyone thinking about starting their own business, home based or bricks & mortar. Do your research WELL, understand your niche FULLY but above all make sure that you HAVE a VERY STONG DESIRE to SUCEED. Without these you will be more likely to fail than not. Any advice I'm more than happy to help anyone serious minded person with ideas and clarity on what could happen if this that and the other route were to be taken.
To everyones success.
Steve Swift from YMB. UK
Hi I saw your question and thought I'd tell you what I did to start mine. I went and looked at what other people were not offering and I did a general census. My company was a nanny care company. Right now I'm a stay at home mom so business is slowed down but before my son I built my company from the ground up. I'm based out of ohio. The first major thing I did after knowing what I wanted to do was got incorporated thats very important. This protects you and your assets from any clients you have doing anything to your personal finances. The next thing is branding your company. I had business cards printed up with my company name and my number and my email. I would leave these cards where there was a good traffic flow. For my company great traffic flow is any where parents and children are. The other thing I did was learn about my competition, for instance in ohio there is not a hugh need for nannies so I was competing with daycares. I offered families things that daycares couldn't like coming to the clients house no matter how far to take care of their kids. This was a big plus for parents because their kids got to stay in there own homes. I did all the errands that the clients needed me to take care of for their kids. Also when I added people to work for my company I sub contracted them with my company it was better for my business and them as well. I also would go and visit each client I had to make sure things ran smoothly. When my company would get a new client I would interview the family to make sure that the care giver was a right fit for the family and I always had a contract with every client and sub contracted employee of mine to cover myself and everyone else. That is also very important. My company has gone on for over six and a half years. It's the personal touches and that extra mile in your company that you are willing to do to make it work. It's worth it mostly because it's yours and you built it. I hope this helped.
I would say be realistic. Know what the market needs and will bear. In other words one might have a dream of owning a little bookstore but reality is that you can get books at Amazon for what the owner pays for the product so it is very difficult to get the business going and maintain it as profitable.
Be prepared to provide something unique, but also know if you were to start a small business and it was tremendously successful, the guy down the road will look and say - hey look what he's doing, I want to do that. Then he opens a similar business and your profit drops by 50%.
Have the assets to maintain the business for at least a year because it takes a long time for a business to succeed.
Know what you want to provide whether sales or service and know what you need to keep the business going. You do not want surprises once you get it started.
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There were many good ideas here, but I think making a basic business plan really helps keep a smart business owner focused. It takes time and energy, but planning is vital to any business. A good business plan doesn't have to be fancy, but it should be written by the owner as a tool to keep good goals, stay on top of the competition, and have a comprehenisve marketing outline.
Starting an online business is easy in today's society because of the numerous online platforms that allow you to sell items to people all over the world. There are many ways to go about selling things online, but how do you start an online business? This article will provide you with a checklist that will assure your online business is successful. read more
I have started, stopped and re-started businesses. I have learned that the most important step is planning and the second most important step is to remain focused.
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one of the first things i tell anyone is to make a good business plan. if you can't take the time and make the effort, you don't have what it takes to run a successful business.a good business plan will show you how viable your business idea is, who your market group is and what you can expect for revenue.
The biggest thing I ever learned when starting a business was not to be afraid to ask for a better deal on things, whether that be a loan rate, credit card rate or rate being charged by suppliers for goods or services.
Don't be afraid to ask your banker "Is this the very best rate you can offer me on this loan?" "Is this the best you can do?"
Wherever possible, and especially with suppliers, try to make it a win-win. So, offer to increase your order if that means getting a better per unit cost as an example. Or ask what they can do if you pay cash. Don't hurt yourself in the process by overextending your financial plan, but remember your suppliers are business people too.
So go ahead, ask the question. The worst that can happen is that someone says "no".
This days i'm still gathering ideas and techniques likewise (earning money out of my resent job) that in the next few years I can manage and own a business that can impart and apply my experiences related to business.
For the meanwhile i would like to share my thoughts and techniques that maybe you can apply in one of you business ventures;
-love and commitment to your desired business
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Expert advice for small businesses startups and how to find funding sources. Important tips for targeting your market and growing your business to the next stage. read more
See my hub on tips for starting or running a small business.
Go into your business expecting to work 16 hours a day, 7 days a week. You may not work this much, but you probably will when you are starting out. Owning and running a business is one of the hardest yet one of the most rewarding things that somebody can do.
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Go with your heart - BUT ask a mentor whether it really IS a good idea
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Don't give up and don't listen to harsh criticism from others. Just go for it! My best piece of advice for any entrepreneur would be to join groups of others who are working toward similar goals. Join local business associations, find others through meetup.com, etc. You'll get a huge sense of inspiration from others with the same direction.
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