how to start your own business

how to start your own business questions and answers

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

Q: would like to start own business/ non-profit.......give me your opinion. Please?
I would like to open a shelter someday. (Next 4 years maybe) for young women with children. I think I would beable to relate to alot of the females there and have a wnonderful thing. I have all these great ideas and ways to make it work, rules, classes, speakers and so forth....BUT it seems there are alot in Rochester, Ny already. Should I sya forget it or would this be a really good idea. I think since the MAJORITY of young girls who come she;ters are Black, that they would be a little more likely to open up to me and take my advice on education, dating & relationships and parenting. Alot of young black girls feel white women just dont understand for some reason so i feel this would be a start to getting our teens to follow the right tract. I have a lot of ideas, just a matter of keeping optimistic about this. What do you think?

A: The best thing to do would be to start at an existing NFP that does the things you are interested in doing. Perhaps your contribution will make the existing location better rather than stretching already thin resources further. Moreover, you may find yourself in a position to actually take over the existing NFP as people move on frequently.

Q: How hard is it to start your own business as a personal financial planner?
I am thinking about starting my own business as a financial planner. Do I need to obtain certifications to enter the business in the us? Is there a lot of competition? Basically, anything you can tell me about this business will be helpful...

A: One of the wonderful things (and horrible things) about the US is that anyone can call themselves a financial planner. All it takes to go into business is some business cards and some stationary. If you do go into financial planning you will find yourself competing with every life insurance salesperson operating in your community plus some dedicated financial planners who don't sell life insurance. Since adequate insurance is a key element of financial planning I think you should investigate obtaining both insurance and financial planning certifications. Hope this helps Jerry-the-bookkeeper

Q: How does one start your own sports bar business?
I was looking into starting my own business, opening up a sports bar! How and where do I begin?

A: You have to learn a business before you can run it. Start by getting a job working in someone else's sports bar. Work your way up and get involved in as many aspects of the business as you can. Consider taking some business classes if you haven't already. When you have enough knowledge and experience, then it's time to get backers and try on your own.

Q: How do you start your own business.. serious answers please?
How do you go about starting your own business about computer programing, fixing, building computers and things of that nature for people. A friend and I want to start something up but i have no idea of what steps to take. Is there a good market and chance it can work out? Please give me as much info as you can please!

A: The biggest asset you can have is your reputation. So long as people know that you are a good worker, and first and foremost honest, people will come to you when they need to find people to fix their computer or do some programming. Of course, you need to advertise yourself a little bit, and tell all of your friends to help you spread the word that you're now hanging out your shingle. The next steps would be ensuring you have enough parts and inventory to build whatever it is you intend to build/repair, etc and make sure you source those well. Don't just look overseas because it's cheap - know who your source is, and what their track record is...you don't want to build something to find out their products are exploding, and you don't even know it's their product you have in your PC (think about that one for a minute...) Good luck, and when you're ready to move ahead feel free to contact me with any other questions. I've done a similar start-up, not related to PCs, but in the payments industry and have some knowledge of what it takes to be successful.

Q: How do you start your own business/store if you have 10,000 dollars?
Ok so I have a lil cash and i would love to make my money usefull. i want to own my own business and i know more then most on how to keep it going, but starting out im not too sure. I have bad credit also. my wife can help with that part though. what should i ask for at a bank. how do i get started? the type of business we are tossing around is a record store/headshop but we are tossing around alot of ideas at the moment

A: what kind or type of business. ?

Q: If you were to start your own business what type of help will you need?
Hey, I would like to know what type of help do people need when they are starting a business and/ or a career. I would like to start a consulting company and would like to know what type of services I should offer?

A: Hi Tiffany, Consider that most new businesses, lose money for at least the first year, maybe 2.... You should have a source of "income or savings".. to get you through.... >>>>>>> But, many small businesses start with humble beginnings.. and make profits in the first month... If you are talented and/or wise, you don't have to wait to get results... >>>>>>> The "SBA", has many ways to help new start-ups... They back loans, put on seminars, and provide lots of free literature... Visit the site below.... >>>>>>> I think you could also go to a "public assistance office".. and be a case worker for welfare agencies... You could also go to "youth agencies" or "psychiatrist centers".... There are so many organizations out there who are in need of social workers..... Look around... Check your Churches, welfare agencies, doctor's offices, child abuse centers.... >>>>>>>> There are also : sales positions, assessment positions, and some counseling positions... Contact this company for more information.... see link, below... >>>>>>> I hope this will help you, out ;) Good luck! Thanks, for the question! My regards! Take care!

Q: Can you start your own LLC business without a lawyer?
Live in Texas. Any advice for legal paper work to start business?

A: We did. Actually I did consult with our lawyer first and he suggested purchasing a book with all the answers and forms that you need. The best source for all legal books is through www.nolo.com. It made the whole process super easy and is handy to have the book on hand whenever there is a question. An added benefit is that the book is a tax write off

Q: Experience with Government Loans/ Grants to start your own business?
Do you have any experience with getting Government loans or grants to start your own business? If so, can you explain some of the process to me? I've already found the perfect store for my business. I wouldn't need alot of money, but I would def. need enough to cover the first few months of renting the building and buying some of the items. If you have any information that you can give me, it would be appreciated. Like who you contact. I don't want to get scammed.

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 starting a for-profit business. One possible exception is for companies developing or exporting agricultural goods, including food and forest product. Another exception could be the Small Business Innovation Research (SBIR) or Small Business Technology Transfer (STTR) programs http://www.sba.gov/aboutsba/sbaprograms/sbir/index.html , which fund the research and development of technological innovation that meets specific government needs. Your best bet actually will be from the states if they offer grant programs for women (or any other special interest groups -- minorities, women, disabled, veterans, etc). Or check with non profit organizations, particularly women organizations if they offer grants. Examples include Iowa Women's Foundation http://www.iawf.org/ New Mexico Women's Foundation http://www.nmwf.org/guidelines.html Even SBA does NOT give out grants. From the SBA website http://www.sba.gov/mostrequesteditems/CON_FAQ2.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." 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. Here is a listing of federal grants for small businesses. See if there is any available for individuals for starting a business -- THERE'S NONE. http://12.46.245.173/pls/portal30/CATALOG.BROWSE_BENEF_RPT.show 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

Q: What did you do to start your own dog grooming business?
please help. i am looking to starting my own business

A: First of all, if you haven't been to grooming school, then that's the first thing you need to do. You need to work in a grooming position for at least a year, to ensure you know the business and what to expect, and what's usually charged for various services. You need to learn the business from the bottom up so you will know how to manage employees in this kind of business. You haven't said anything to verify that you have any kind of experience, so I must believe that you have none, but simply like to groom dogs and cats. Interest is wonderful. Experience is better. -!-

Q: Do you need experience to start your own business?
i'm 17 and i want to start my own coffee shop, i've got so many ideas and researched a bit but do not have any experience for running my own business. i need guidance but dont know where to get it from. for example i don't know anything about how tax for businesses work etc.

A: As you want to start a coffee shop you will need a food Hygiene certificate if you want to have food such as toasties. Also your Tax can be handled by your accountant as long as you can provide receipts of customers purchases. Try taking a course on business management. Also Ive always wanted to run a coffee shop and all that i can say is good luck to you and i hope your successful. All the best Tom

Q: Would you still want to start your own business if the government were to ever limit the amount you could make?
Lets say they made a law that said, you can make twice of what a normal employee makes, and if you make more, it must be turned over to the government. Would you still start your new business?

A: What does a "normal" employee make? If it were what my "typical" employee makes, then YES. I would just pay all my employees $1 million each and charge them $865,000 back to compute their payroll and cut them a check. Therefore, I could collect my $2 million salary + take the money I'd be getting back from my employees and put it back into my business. Problem solved! There is always a loophole. That is, if you're enterprising enough.

Q: How do you start your own business?
How do you start your own club/bar?

A: by good planning about the way i am going to act like revenue and costs and is me going to have gains or losses and the different classes comeing to the club how u going to serve them better and new ideas that u can provice to improve ur services

Q: If someone gave you $300,000 to start your own business, what business would you start?
how would you start this business and why would you choose to start this business?

A: buy a duplex or triplex, Why, will hold it's value and get a monthly income from it. Get good tenenats and it could be a great return

Q: what made you start your own business?
How old was you when you started your own business? did you have any regrets? Did you go it alone? or with friend or family? Would you recommend setting up ? And what business did you set up?

A: I'm working on starting my own business now with my aunt and mom as my initial sales people. I dread being a worker bee. I am no worker bee! I am a leader with a broad range of skills that don't get used or improved upon behind a cubicle wall. I have a great job, anyone would want it. But I loathe being a number in a big monster company. I want to be my own boss and make my own schedule. I am happy whenever I talk to people about my ideas. that's how I know my current job is not for me other than paying the rent.

Q: How smart is starting from scratch to start your own business?
I've worked in the corporate world for the past 15 years and recently went back to school for my law degree. I now want to quit my job and start my own law practice. I have just a couple of cases right now (including one really good one that could bring in lots of cash when/if it settles) but know I could bring in a lot more work if I devoted myself to practice full stop. I have great connections with lots of other lawyers and know a couple that would let me work out of their space. Anyway, I don't have much cash saved and my credit is weak. I'm thinking of selling my house and my car and taking an apt. in the city where I will practice. This would cut down bills alot as well as my current 2 hour round trip commute. Has anyone done something similar- shed a lot of your assets to finance a dream? Or is it better just to repair my credit and try to get a loan? Borrowing from family or friends isn't really a realistic option.

A: After 20 years in international corporate waters, I cashed out my retirement funds, relocated to Europe and started a small consultancy business. I'm now 4 years in and still struggling, though I haven't starved yet. How smart is it? Depends on how smart you approach it. The rewards can be big, will probably be mixed and can be devastating. You're throwing away a safety net and everything you do will depend on you! First of all, don't bet on one sure revenue source to start a business. I bet on two and neither materialized. Have 3 revenue streams identified at least! Secondly, running a company takes a fair portion of your time. Don't count on devoting less than a day or 2 per week on the bureaucratic and administrative stuff for a while, or until you can afford to hire someone to offload it. Third, don't go overboard on expenditures. We made the mistake of renting a "representative office" with conference room that we didn't really need (we thought we did) and it cut months of safety off our cash flow. Fourth, RESEARCH. A company (a limited or full c-corp) may allow you to find credit/loan facilities that your personal credit wouldn't dream of attaining. Remember, wiser men than we have said it's always better to spend OTHER people's money! Also, research for support resources (small business administration, local programs, state development funds, etc.). Fifth, consider finding a partner. Not a light decision...you should have VERY good reason to trust this person, but it does help lighten the burden of the risk and the overhead and the administration. If I had it to do over again, I'd have done it smarter, but I WOULD HAVE DONE IT. I don't regret striking out on my own, but I do wish I'd done more research. Whatever you decide, once you decide, make it happen. And good luck!