groups

OK what kind of business did we start

I have reached the same conclusion and that is why I have my own home business.

I agree that, if you have the motivation and willingness to put in the hours needed, you can have a very satisfying experience when you start your own business. You can draw on your experience and your knowledge of the local market to decide what would work. I first started working for myself, selling my own artwork at the encouragement of a friend who was already doing that. I was working a regular job and slowly developed my market and expanded what I was offering, so when the day came that I was laid off, I just went full time selling my artwork in a niche market. I have more demand for my work than I can meet. My big problem has always been that I am not that good at the business end of things, so I am in college now, taking business courses and I have learned a lot.

Go for it Rob, you know how to do it. There is risk in everything, even getting out of bed in the morning. Better to try and fail and then try again, than not to try at all.

‘Our greatest weakness lies in giving up. The most certain way to succeed is always to try just one more time.’
— Thomas Alva Edison

You are absolutely correct: small business ownership and self responsibility is the only way America will rise out of credit/debit ashes of those who were 'burnt'.

I'd like to give you a few suggestions - but again: we are not supposed to / allowed to, It would be considered 'advertising'. Imagine that !?

Hi Rob,

Any ideas of what type of business you would like to start?

I started sewing purses a couple years ago and selling them online. I would like to know when a hobby turns cottage industry, at what point, or at what dollar amount of sales, do you get a DBA, or register your business name with the state? or which should come first? Thanks.

I would like some help. Maybe you can help.
I would like to have a home biz. But, I don't have a clue.
I don't have a lot of money either.
Is there a book I can check out or kit I can buy.
I just don't know where to start.

The is venue is really good in hearing the experiences of people who are trying the same thing. Also, there is as host of information out there for free if you want it. Do the Due Diligence and use resources like the Small Business Administration. They have an online course thats free that covers much of what you have questions about. Try www.sba.gov, it's worth the research.

Starting a home business takes money. Lots of it. You might NOT even make a profit for the first five years or longer.

People are scared these days and afraid of losing jobs or have lost their jobs. Starting a home business might not be the answer to paying your bills.

Here are just a few things that go into building a home business:

Who is going to buy your service? Is is sell-able?
How to market it?
Who is going to do the bookkeeping?
How many hours a day are you going to work on it? (Remember you will have to work 7 days a week and holidays)
Will a bank loan you money to launch it? (Pretty hard to convince a source to loan you money these days)
How about office supplies and equipment? Including a computer, fax, private phone line, printer, printer ink (lots of it), a ton of paper and more.
Got a website up to promote it on the Internet? (How much is that!?)
Advertising cost!
Packing your lunch everyday to save money to keep on growing your business.

Most of all don't forget this: Avoid work at home scams! If someone wants money from you then ...If it looks to good to be true than it probably is a scam. Be Leary of work at home advertisements that boast you will make thousands or millions in a few months.

Swap, I started my own business the way many do, I just did it a bit at a time. I am an artist and met another artist who was supporting herself with her artwork. I didn't (and don't) need bookkeepers, bank loans, or any of the other trappings of an office or manufacturer. Someone who wants to set up business as a pet sitter or as a handyman or as a personal shopper or one of a number of small businesses would not need to start out with bank loans or any other major investment. All some people need is a phone and a business card and some skill that is in demand.

I know someone who is making a good living by giving advice to others. She is good at delving to the heart of what is needed and giving concise guidance and people pay her well for her advice. She does not have a bank loan or a big bunch of business related expenses.

Different types of businesses need different levels of financial investments. If we all needed six figure bankrolls before we could set up a business, there would not be many small businesses in this country.