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start your own business

start your own business questions and answers

Learn about start your own business at the number one young investor website Teen Analyst.

Q: What is a good web site to go to if your trying to start your own business?
I have no ideal where to start. I have an ideal and what the business is but I have no Ideal where to began. Photography is the direction that I'm going in. I need to find a web sit on supplies too.

A: Go to http://www.score.org/index.html and in the upper left hand corner, enter your zip code. On the next screen, you will get information on the nearest SCORE chapter. Call them and arrange for a free meeting with a SCORE counselor to discuss your photography business. SCORE is a nonprofit association dedicated to entrepreneur education and the formation, growth and success of small business nationwide. SCORE is a resource partner with the U.S. Small Business Administration (SBA). SCORE has 389 chapters in locations throughout the United States and its territories, with 10,500 volunteers nationwide. Both working and retired executives and business owners donate time and expertise as business counselors.

Q: if you could start your own business, as an entrepreneur, what kind would you start, and how?
Let us just say Aunt Susan and Uncle Joe hand you a considerable amount of money, and you must use it to start up a business. It could be anything. From something you enjoy doing to something your community is in serious need of. What business would you start up and how and why?

A: A community art program for children. I wouldn't need to make much of a profit since I would have enough from Aunt Susan to cover my expenses. Or, it might be nice to run a little resort / guest house. I already have about 10 acres along a river but I need money to build the resort. With a little money from Uncle Joe I could consider doing this. If Aunt Susan and Uncle Joe were filthy rich then I would open my own private school. I love working with and inspiring youth.

Q: Where to find funding to start up your own business?
I am starting my own Web Design business based in Ayrshire in Scotland. I am wondering if anyone has any ideas of where you can apply for grants etc to fund the startup? Thanks

A: if you are under 25 try here http://www.psybt.org.uk/

Q: How hard is it to start your own business? Is it worth It?
I am trying to start my own back yard nursery, but it's going slow and I don't have hardly any start up money.

A: Starting a small business takes a lot of courage. But, as they say, courage does not pay the bills. To be successful – to stay in business – you need more than courage. You need a combination of hard work, skill, perseverance, and lots of luck. Some things you need to consider: - "How can I support my family while I build up by business?" - "What are my abilities?" - "Is there a market for the product or service I have chosen?" - "How long will it take this business to reach the financial goal I have?" To gain more information about the business and get ideas of how to promote it and successfully manage a backyard nursery business, I suggest reading the following books: - Plants for Profit : Income Opportunities in Horticulture by Francis X. Jozwik, Dr Jozwik, John Gist (Editor) - How to Make Money Growing Plants, Trees, and Flowers : A Guide to Profitable Earth-Friendly Ventures by Francis, X., Dr. Jozwik, John Gist (Editor) - Growing Profits : How to Start & Operate a Backyard Nursery by Michael Harlan, Linda Harlan You may also want to read the article "How to Start a New Business Successfully" http://www.powerhomebiz.com/vol51/launch.htm which lists six steps to launch a new business successfully: 1. Provide a benefit. 2. Determine the fit with your market. 3. Right timing is everything 4. Be ready to support your business 5. Develop a blueprint for success 6. Market, market, market I recommend that you also read the following books (more general, but very helpful): - What No One Ever Tells You About Starting Your Own Business : Real Life Start-Up Advice from 101 Successful Entrepreneurs - Starting From Scratch: How To Start A Business When You Don't Have Money - If You're Clueless About Starting Your Own Business and Want to Know More - On the Move : How to Succeed and Survive As an Entrepreneur - How to Make 1000 Mistakes in Business and Still Succeed There is so much to learn about starting a business that it is hard to put everything here. I suggest that you to check out the following websites and learn from their content: Entrepreneur http://www.entrepreneur.com Inc.com http://www.inc.com SBA http://www.sba.gov/starting_business PowerHomeBiz.com http://www.powerhomebiz.com

Q: How do you start your own tattooing business?
Hi everyone. My Husband and I are looking into starting a mobile tattoo shop. We are in the process of business planning, I was just wondering if anyone can give me any more helpful advice or information pertaining to starting your own tattooing business????

A: You should be able to find a local small business avisory group in your area. They would be able to help you with start up. I would check to see if it is legal in your area to do a moble shop (some places its not) Figure out what you need for start up, come up with a 5 year business plan. (basically how you are going to turn a profit in that time) and secure a business loan. The govt offers low interest loans. Also get the legal issues of becoming a business from your county govt

Q: How do you start your own card business?
My 16th birthday is in october and I want to start a small business. I have been scrap booking and making cards for about 2-2.5 years. I really enjoy it, but of course I want to make money, so that I can have money for paper, tools, stickers, stamps etc. But what I need to know is how I start this business. My mom is going to help me I already have a name for my business I just need info. on what I need to do to start this business.

A: Quick answer, just do it, but you need millions to buy equipment and advertise. Best bet, start a local scrap-booking class, and charge anywhere from $5-$10 a head, if your really good at it. Then in two years if you're still interested in it, go to business college.

Q: where can you go to start your own business?
I want to open my own business, where do I need to go to sort it out? I want to have my own lettings agency, I have always wanted this job but can't get one, so I want to open my own company. Mark M, the service is only for US and Canada, but thanks for trying.

A: Try the resources at Business Link http://www.businesslink.gov.uk/bdotg/action/layer?topicId=1073858805&r.s=tl It's a government site, so you know you aren't going to get led around by amateurs. Good luck!

Q: How old do you have to be to start your own business?
I am 15, and i want to start a small business with Photography. can i start one at 15? what do i need to do in order to? i just want to start by doing photos for neighbors and friends. is there any legal things that i have to deal with? It will just be small, and to do on my free time. thank you :)

A: Age depends on the type of business you start. So if you select doing photos for neighbors and friends as business, then you shouldn't worry. Get started and good luck

Q: Is there a way to get government grants to start your own business?
Im looking to start my own computer repair shop here in a small town, and am hoping to get a little help from uncle sam.

A: It is hard to find grants to start a business. Unlike the myths that some perpetuate, federal government and even private foundations hardly give grant money for a for-profit business. And yes, grants mean PAPERWORK - lots and lots of it, that is why a cottage industry of grant writers was born. Nonetheless, you can go to the Catalog of Federal Domestic Assistance (CFDA) http://www.cfda.gov and Grants.gov http://www.grants.gov - these are two sites created by the federal government to provide transparency and information on grants. Browse through the listings and see if you can find any grant that would support a for-profit venture. Even if you buy books on "how to get grants" or list that supposedly has information on grants -- all of them are mere rehash of what CFDA has, albeit packaged differently. But still the info is the same - hardly any grants for starting a for profit business. Even SBA does NOT give out grants. From the SBA website http://www.sba.gov/expanding/grants.html... "The U.S. Small Business Administration does not offer grants to start or expand small businesses, although it does offer a wide variety of loan programs. (See http://www.sba.gov/financing for more information) While SBA does offer some grant programs, these are generally designed to expand and enhance organizations that provide small business management, technical, or financial assistance. These grants generally support non-profit organizations, intermediary lending institutions, and state and local governments." Most of the federal grants are given to specific target groups with specific requirements (e.g. minority business owners involved in transportation related contracts emanating from DOT - Grant#20.905 Disadvantaged Business Enterprises Short Term Lending Program Grants are also often given to non profit groups or organizations involved in training or other similar activities (grant 59.043 Women's Business Ownership Assistance that are given to those who will create women's business center that will train women entrepreneurs For private grants, you may want to check the Foundation Center's Foundation Grants for Individuals Online. It's a subscription based website ($9.95 per month) but their opening blurb only says that the database is ideal for "students, artists, academic researchers, libraries and financial aid offices." Entrepreneurs are apparently not one of them, so I take it they also don't have listings of private foundations who give grants to would-be entrepreneurs.

Q: Can you start your own business without a degree in business?...?
My sister and I would like to open a cafe. However, I dont go to college for business. I go for interior design, but both of our hearts are really in this. Do you have to have a degree in business? What first steps should we take?

A: ~~No degree is necessary to own your own business. You just need plenty of energy, work hard, and know your business. If you aren't good with accounting, get a very good accountant to keep your books. Perseverance is the major tool you need!~~

Q: whats a good place to learn how to start your own internet business?
Interested in learning how to start my own internet business.

A: The best routes to take are to research the process of starting a business as well as the industry you're interested in. I recommend checking out the SBA, Entrepreneur, The Start Up Journal & Nolo. All 4 are great informational resources for the new/small business owner. I posted links for you in the source box. Research, research, research – this cannot be stressed enough. Read as much as you can. Here are some book titles that are relevant: * Starting an Online Business For Dummies, 4th Edition by Greg Holden * How to Start and Maintain A Successful Online Business by Kelly Thornton * The Complete E-Commerce Book: Design, Build, and Maintain a Successful Web-Based Business by Janice Reynolds There are plenty of free informational resources out there. Check the source box for links to articles. Hope that helps! I wish you much success & happiness in all your ventures!

Q: What is the proper etiquette when leaving your company to start your own business in the same field?
Do you just say, "pursuing other business endeveours" and not provide any more information?

A: Yes, don't give any further information. And if you're working on a product *remotely* similar to your current employer, you might want to talk to a lawyer to protect yourself. Remember that your company doesn't need a *valid* claim to go after you... something that appears valid can cause you all kinds of trouble. And never, never, never solicit customers of your current employer. That is the fastest way to get their attention and probably a letter from their lawyers. Customer contacts are *always* considered confidential information....

Q: How challenging is it to start your own business?
I know the simple stuff to make it functional and operational, but the legalities, taxes, etc. are what I'm hesitant about dealing with. What is the best way to make sure it's worth your time and investment in doing it?

A: Go to http://www.score.org/ and in the upper left hand corner, enter your zip code. On the next screen, you will get information on the nearest SCORE chapter. Call them and arrange for a free meeting with a SCORE counselor. SCORE is a nonprofit association dedicated to entrepreneur education and the formation, growth and success of small business nationwide. SCORE is a resource partner with the U.S. Small Business Administration (SBA). SCORE has 389 chapters in locations throughout the United States and its territories, with 10,500 volunteers nationwide. Both working and retired executives and business owners donate time and expertise as business counselors

Q: How many months worth of funds should you have if you want to start your own restaurant business?
I want to have my own restaurant business, how many months worth of funds should I have to start with and should this be the amount of time my business should stay open if things don’t go to well?

A: Having owned restaurants and knowing the risks involved I would say at very least a year to 18 months. When your restaurant has name recognition, and you open a second one , then you would still need six to nine months. It is the second year that will tell you if you are going to be successful or not. In the first six months people try the new place, but it is customers not sales that makes you successful. Customers are those who come back over and over again. Sales are one time buyers. Develop a relationship with your customers. You are thinking of entering the most risky investments I know of. It will take a lot of very hard work and VERY long hours to be successful. So you and your family if you have one has to be ready for that type of commitment. I would highly recommend you getting a good CPA also. My CPA always saved me more then I paid her, which made it a wise choice.

Q: Which way to go in business? - start small by your own OR franchise?
I am 50/50 wavering what to do - I plan to start a signs business and I am thinking whether to go start my own OR franchise (SignARama) - Just want your opinion.

A: pros and cons: Starting your own biz means that you have to learn everything, but it is cheaper and you have more freedom. You do have more problems getting business recognition. Starting a franchise gives you more instant company recognition and help setting up but gives you less freedom to do what you want and it also involves ongoing costs to the franchisee. I would research the strengths, costs and feedback on the various sign franchises. Find one you like and can afford and actually supports it's franchisers. Research what it will involve and cost to set up your own sign biz. Sit down with pen and paper and put down all the respective costs, the pros and cons and work from there. In a highly competitive business area - sometimes product and business recognition is very important. Could you compete in your own biz if a franchised opened up close by?