Any small business owners/entrepreneurs here?


#1

Are there any small business owners/entrepreneurs here?

Ive wanted to start my own small business for awhile. So I just want to here some experiences from people that have done it. One question I have is how do you choose what business you want to start? Ive got many ideas (that I am good at) in my head lol.


#2

[quote="stockbrick240, post:1, topic:224406"]
Are there any small business owners/entrepreneurs here?

Ive wanted to start my own small business for awhile. So I just want to here some experiences from people that have done it. One question I have is how do you choose what business you want to start? Ive got many ideas (that I am good at) in my head lol.

[/quote]

LOL yeah thats my problem also. In my head.
I do however have a small handyman busines. I tell you for me it's kinda scary and I've had it for 7 years now. I do it more to keep me busy. I have lots of down time in my regular job. I pray and pray and pray. whew. Can't go wrong in praying.
God bless
jesus g


#3

Which one area are you best at? Which one is the most interesting to you and do you think will sustain your attention and interest? Which one do you feel God is calling you to, more than the others? Is there a market for one product or service that is ongoing? Which area do you already have skills or credentials in?

When you start your own business, you are going to eat, breathe and live that business day and night for quite a while. It takes sustained work and attention to start and run your own business. You will be everything - CEO, Human Resources, Financial, Legal, Marketing, everything.

Do not underestimate the number of hours you will have to spend to start your business. If you are single, great - but it will be your hobby as well as your job for the foreseeable future. If you are married, especially if you already have kids, think this over very carefully and make sure your spouse is on-board with it, because she (or he?) will need to be supportive and might also need to help with some tasks. You can’t start a business working a 40 hour week.

My husband is an independent contractor after years of trying to get away from corporate positions. He puts in even more hours than he used to, and he’s no slouch in the work department. He has to sell himself and his projects, he doesn’t have a marketing department or any other department. And I am going to have to get involved too, even if I don’t want to.

Think about which area will really light you up, and go for that. Do you have cash to keep you going while you get things established? You will need it.


#4

Thanks for the reply. I’m a 24 year old guy so theres no wife and kids to think about yet. Having my own small business is something thats been on my mind for years just never decided to go through with it.

I feel like 2011 will be a good time for me to try it out since after this quarter of school my classes will be online thru the local tech school then thru Saint Leo’s (online) when I transfer. And I have a part time job at a grocery store that keeps some money flowing. And my parents are fine with me living at home until school is done and or the business is up and running.

The main business I’m looking at is floor care. Commercial vinyl tile to start with and probably expand later into other floor care stuff. The only other one Ive looked at was auto detailing but I dont really want to wash cars when its freezing cold outside lol. And theres a good market for floor care but its not over run like the lawn care market is.


#5

This is the best time for you to start your own business! Go for it. You have a place to live, you have a job to pay whatever bills, it sounds like the initial investment won’t be too heavy (I assume you will need tools and products to do the job, but little else). Look into your local Small Business Administration, they can help you because it’s actually run by retired business people (otherwise I would never refer you to a governmental agency!!). Make sure you know what taxes you need to pay to the state you are in, what forms you need to file. Do it right and you can grow your business without future headaches.

I’m excited for you! :thumbsup:


#6

Yeah, technically I own a business. I’m basically a freelancer with some perks. It’s good to be able to do all the things a business is allowed to do without worrying. The outfit pays my insurance and I’m allowed to advertise normally or take contracts from individuals, unlike a pure freelancer in my jurisdiction. Plus, it’s easier for me to expense the more general kind of overhead, such as continued education. I like the independence this gives, particularly that I can keep doing my doctoral, something hard to achieve if I were with a law firm. And no putting up with weird bosses and their rules.

Besides, a business belongs to you and if it develops, you gain the benefits (at the expense of shouldering the risks, of course). And as long as you have customers, you have a job. If you like yourself in the role of a business owner, you can expand and give employment to others, a great thing to be able to do (I’m not there yet).


#7

I own a music studio where we give various types of music lessons. It is a lot of fun, but finances can be really tight.
Make sure there is a demand for what you are selling or offering. Set a reasonable price. Advertise well. That's my advice.


#8

I own my own business although it is mainly online. I make and sell pet supplies and handmade items for babies etc. My main income is from my own website that caters to chinchillas. Kind of a niche, which is how I've gotten it to work for me. Not a whole lot of good websites out there like mine.

I was fortunate to start right out of college since that's when the economy started tanking and I couldn't find full-time work. Now I'm happy to have been doing it long enough that I can continue it for additional income once our baby is here.

I was able to start mine full time because like you, my parents were okay with me living at home for a while. So if it's something you have experience in, have the money to start it up and know what you're doing, I'd say go for it.

But remember, there is more to it than it appears. You need to make sure you are legally okay with taxes and all that.


closed #9

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