START UP ADVICE?

[Guest c5golfguy]

My wife and her Aunt opened a flower shop recently and so far they have made it without taking on debt. It is not easy but they say with the economy the way it is, if you can make it through, it is a good time to start.

That's exactly it. Even though I'm only 33, almost 34 years old, I've started 3 successful businesses, 2 of them were .com companies during the .com recession and survived the turmoils and then sold them for profit. It's all about making the right decisions that will affect you for years to come. If you can show a profit or break even your first 3 years of business, the business has a better chance at surviving. Making a business plan and sticking to it will help you ten fold, however, the key to your business plan is seeing the change in our industry or change in clientele and making the change to your business plan to accommodate those changes.

[Guest SIR TINTSALOT]

I'd suggest having about 10k to work with for starts. I started my biz with like 2500 and had to scrape by getting stuff as I went along but it's real hard that way. Either save up, or get a loan.

[Guest jennyjenssen]

The more you shoe your business, the more benefit you will earn. Advertise your business. All the best. 

[Supreme]

It is hard and it does take years. The amount of times I have thought 'what am I doing' only to wake up the next day and remember my hunger to be y own boss of a successful business.

 

There will always be lull periods and you cant let them get you down. Be smart about the money you earn. I divide up each jobs payment straight into Tax, marketing, tools and material etc. That way things build up slowly and helps cover the costs when they come.

 

Think of creative ways to market. it doesn't have to cost much to do, with the price of printing these days, business cards, banners etc are cheap to do.

 

If it is a struggle to pay the bills then think of other ways to fill the gaps with money. There is no harm picking up another job while you are building it, makes it easier.

 

Good luck and hopefully we hear back in a few years how well it is going!

[coastguy]

Always try and offer a marketing incentive that a potential customer would find extremely valuable. But it should cost you minimal money and time... ex- If marketing to a local business, run a free website audit for them.