My take on starting your own business

Free Member
Posts: 25
Joined: 26 Mar 10
2 Apr 10 11:17:51 pm
Ok this is for personal reasons. I do not have a blog, and want a place to put these ideas down to see how my ideas have changed over time. I also thought that this would allow input from others. I will probably be adding to this as time goes by.

First thing you have to do is to get serious and treat whatever venture you are doing as a business. Make certain to stay as professional as possible. This means getting family support, and that your family is serious about getting this venture off the ground. If you do not take this serious, it will be hard for others to take it seriously as well. It will be VERY hard to get things rolling without the support of your family (this does not mean you take everything your uncle Ed the nay sayer has to say to heart)

Know what you want to do and why you want to do it. This may take a serious amount of time, and may change as you do research. But I like golf, so I am going to sell golf clubs will probably not be a good enough reason. The fact that you have a vast knowledge of the sport, know people that will buy clubs based on your recommendation, you have a connection to a supplier, and are able to get discounted space at several events would be better reasons. While I do not think that it ha to be something you enjoy, you better damn well be able to find a way to pick yourself up to speed BEFORE you ever decide to go into whatever venture you decide to go into.

Make certain to understand that most businesses do fail. Make certain to understand that almost all (might even be all) successful people have failed several times before becoming successful. What your job is, is to figure what you can do to eliminate as many possibilities for failure that you can. Understand that you will not be compensated fairly for what you do at the beginning. You will have find ways to be creative, and do things you don't particularly like doing. Once you become rich and famous, you will be able to find a way to avoid doing certain things. Until then, it will be you cleaning the toilets and doing the taxes.

It is my personal belief that lack of capital and trying to do too much to fast are the biggest reasons for failure. People have to live off their inventory in order to survive/. What I mean by this is, instead of buying new inventory or upgrades, they are using their sales to survive. You need to figure out a way to avoid doing this, or you will never be able to survive. This happens to people that expand too fast as well. They become so successful they fail. They are not able to keep finding suppliers, capital and other business needs to keep up with customer demand. All of the sudden, they are selling their soul. and providing a sub par supply or service.

Even though I can think of many more things, I will stop here for now.

Full Member
Posts: 103
Joined: 30 Jul 09
3 Apr 10 04:51:43 am
Great post Bucfsan. I have tried many things over my life that others have shot down and I didn't follow my heart. You have to have something that drives you. Mine is my 2 year old daughter. I have worked hard through the other childern growing up and missed alot of great moments in their lives I refuse to do that with this one. That is my drive and what makes me do whatever it is to provide for her. With this driving force I have deternined that nothing will make me fail. Even if we just barely make it I will have the riches of watching her grow up and being there for her.

Free Member
Posts: 25
Joined: 26 Mar 10
3 Apr 10 02:37:03 pm
Congratulations DMDdiscounts. You will have to post pictures!

Ok My thought for the day. Questions-

Most people are good people and will try and help others. This is especially true if they think that the person will be grateful, and be able to put the information to good use.

AA few things to keep in mind. People do not like to be taken for granted. If you make a person feel like they owe you an answer, their is a high likely hood that this person will feel resentful, and not provide the best information. On the flipside, if you make certain to let the person helping you that you appreciate what they know, and explain why you believe they can help you, they will usually go out of their way to give you a better answer. This allows them to feel good that people recognize the information they have worked for.

It is also good to know as much as possible before asking a question. If you make someone think that you are trying to get them to do the research for you, you may not get the desired results. The more effort you put into giving a detailed question, the better people will feel about helping you out. This will also help make certain that the person understands what you are looking for, and will help you understand the information better. Sometimes by doing this, you will find the information with out asking for help, but will lead to a new question that will help you much more.

Make certain to try and help other people get answers to their questions. If people see that you are trying to work with others, this will make them feel better about helping you out. Plus that karma thingy comes into play ;)


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