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threedgrad

Ever start a business?

17 years ago

Have any of you ever started a small business and how did you go about doing it? Thanks.

Eileen in Phoenix

Comments (13)

  • 17 years ago

    Does thinking about it count? I was going to start a concierge - or chore - service. I even chose a name and registered a domain name.

  • 17 years ago

    My ex and I started an S corporation a number of years ago, and filed all of the paperwork ourselves. There are many excellent "where to start" books on the subject. Not saying you're dumb, but I'm certain there are "How to Start Your Own Business for Dummies" books available as well. I'd advise that you read one of those, to get an overall picture of how to go about it. The laws of whichever state you incorporate/do business in will vary.

  • 17 years ago

    Thanks!! Since I am at the library I will see what they have on the subject.

  • 17 years ago

    I owned a good construction company for years, then got into real estate, oil, and self storage. I'm gearing up to open a factory now to make certain sports-related components, but that'll take about two years (at least).

    The hardest part is getting past the self-doubt. Every day.

  • 17 years ago

    In 1996, DH and I started an internet business, selling imprinted promotional products, and some other things. Nothing sold but the promotional stuff, so we went that direction, and now have 80+ suppliers. Back then, many people were very leery of ordering over the internet, and most of our suppliers didn't even have email! The business is still going, and now has actual employees, in addition to us and our DD.

    DH had business and actuarial experience, so that was a huge factor.

    One of our strengths is that we didn't need big investments in overhead -- every time we've run into a rough patch, we've been grateful for that! We ran it out of our house till we got too many employees for the zoning, and then rented office space. When we moved to Tennessee, we left half of the office staff in Indiana and the other half moved here with us, so we now have two offices, with linked phone systems.

    Without business background, I'd read everything I could find on starting a small business. I've seen some directed specifically at women, as well.

    Good luck!!

  • 17 years ago

    Yep. We didn't go overboard, just started small...VERY SMALL and poured everything we had in to it. We listened to our customers, not everyone else who tried to tell us what to do, because, you know, everyone knew better than we did ;>

    We didn't go for the glitz, spending a lot of money to impress...we went with what we could afford and built our business on word of mouth. And when we sold it, we sold it for a tidy profit. The buyer did not listen to a word we told him about how we ran our business, he knew better than we did, of course...and now he's out of business.

    Get yourself a box of business cards and hand them out to EVERYONE you meet. Tell them what you do, ask for leads and offer to give something free...like an extra free hour of consultation...and you'll go far. We used to say that the $5 stepping stone we'd throw in with our deals gave us more goodwill than we could have gotten any other way.

  • 17 years ago

    When we were starting our new business, we used the services of SCORE. They provide free advice to small businesses and have an office in Phoenix.

    Here is a link that might be useful: SCORE

  • 17 years ago

    I've been self-employed for nearly 20 years, and it's a slog, sometimes. Don't start anything that requires any outlay of cash, if you have no capital.

    If you want to start something that requires $$, check out the information from the Small Business Administration, and various sites on how to raise money from venture capital firms, etc.

    But, I'd test the waters on seeing how great the demand for your services would be. You can place CL ad, offering yourself as a consultant, in whatever field you're in, and see how much response you get. Start a blog, as blogs are free as opposed to a website, and see what sort of traffic you get. We've certainly seen enough decorators/design types sites around here.

  • 17 years ago

    Hey, we started a business 27 years ago and we're still trudging along. We started it in our laundry room with homemade equipment and a great reputation.

    I heard a great story on CNN about someone who lost their job and decided to take her apple cake recipe that everyone raved about and make cakes to sell to local eateries, coffee shops and the like. It was an instant hit and she is doing great. She is still operating out of her kitchen as a one woman show but she is making enough money to cover her $2,600. mortgage the first month. Now her business is booming and she is making more money than she did at her old job.

    Three, do you have a great recipe? I have a recipe for a great chocolate cake! It has coffee, sour cream and buttermilk in it. It's very rich and moist. The recipe came from a favorite local eating spot who was famous for this cake. They have gone out of business now and I'll send it to you if you want.

  • 17 years ago

    "In most states, food sold commercially must be prepared in an inspected industrial kitchen. Unless you're able to modify your own home kitchen, which typically is rather expensive."

    There are many things to consider when starting a business, any business. For instance, if it is a food business, do you need a permit, BOH approval, a separate kitchen? Secondly, are you assembling, cooking, a combination of both, or baking? In our area, if you're doing bakery/baking you don't necessarily need an industrial kitchen or a separate kitchen. You might be able to prepare the baked goods in your home oven, but you do need a permit and in most cases, BOH approval.

    If you are renting your residence, you will need your landlord's approval. Prime example are those that do "child care" out of a home they rent. Heaven forbid their landlord isn't aware of this and something happens and next thing you know, the landlord finds himself in the midst of a lawsuit. If it's a food business, there are many things that are involved when the preparation of food is done. Permits and insurance are just two of the things that come to mind. In addition, if you're planning on using someone else's property as your business "base", you'd better make sure you're not trying to fly under the radar. I'm a landlord and I can tell you that it will be a cold day in he!! before I would let a tenant have a business located on a residential property that I own. No discussion there.

    In a previous lifetime, a partner and I had a very profitable residential and small commercial cleaning business for 10+ years. We had to have liability insurance, a business partnership agreement on file with the County Clerk's office, we had to be bonded, we had to file business taxes quarterly...these are just a few things that we had to take into consideration. It's not as simple as saying, "Hey! I think I'll start my own business in XYZ", and then just doing it. There's a lot of research that needs to be done, especially in this day and age. We don't work on a "handshake and a promise" any longer, like we did many years ago. We're a very litigious society, so you'd better make sure your arse is duly covered before venturing into the business of owning your own business. Starting and having your own business can be very rewarding and profitable, but for those that think (just an example), "Okay, I have this great recipe and I'm goin' into business...yippee!", may I suggest that you consider removing those rose colored glasses.

  • 16 years ago

    You need a business plan first and foremost. Unless you are flush with capital and need no investors or bank assistance. These investors and banks will want to see your business plan. Aside from getting financial help, a business plan is really the first step in a long process when building a business. In our area, a business plan costs about 3-5K. Can be more.

    I have no idea what you are thinking of doing, but I will say that in the current economy, banks are not lending to start up and young businesses. If you have a business with a longstanding excellent credit history you would be in a much better position to borrow.

    Have you approached any friends or collegues who would be in a position to invest in your business? With a new business, I think that would be a good place to start. Also, it will be a barometer or a "reality check" with regard to your ideas for a new business. Hopefully potential investors will think your idea is a great one.

    Look into the WBA - Women's Business Assoc. I believe it is called. They support businesses owned and operated by women. Still, the $$ is tight with all lenders and don't even think about getting a business loan without a business plan in hand. Also, you personally need very good credit.

    You also have to decide what type of business you want, Inc., LLC, etc. I would definitely get an attorney to guide you through this part of the process. Different states have different guidelines. If you use a lawyer for nothing else, use one to do your formation papers. It shouldn't cost much, but if you are starting a business, get used to spending money. There is truth in the statement "you've got to spend money to make money".

    Having a business, I can tell you that while it seems glamorous to others. It is not. Work, work, work and then more work. There's no turning it off. Depending on your dedication and the type of business, it can/will be a 24/7 proposition.

    Best of luck!

  • PRO
    10 years ago

    Has anyone found any resources on how to get a landscape design business started, i.e. online courses, ebooks, etc?

    I see a ton of individuals out there giving advice but not a lot of training or centralized help. This is something I am very interested in not only for myself but a fellow designer as well and I wanted to hear your thoughts.