entrepreneurs on NT vol. put me on a good business plan

[messyyy]

for entrepreneurs or businessmen out there, can yall give me an insight on how did u start off? and what kinda business do u have? how's business looking like?

i really wanna have my own business, but the thing is... i dont really know what i want.

im lookin for ideas, steps on how to start one on my own.

 

[chinelasone]

For starters you have to have a whole lot of capital to my understanding. Survey your area and see if your niche does not have a lot of competition and its a good target area for a product to sell.

 

[supraman1784]

Originally Posted by Chinelasone

For starters you have to have a whole lot of capital to my understanding. Survey your area and see if your niche does not have a lot of competition and its a good target area for a product to sell.

not necessarily. it really depends on what business youre trying to get into...some require more capital than others...say real estate for example.

for op, im just starting up right now. nothing to write home about but we got some projects in development. figure out what kind of business you want to establish first then find out which incorporation you want. that should be your first step. once you find out what it is youre trying to get into, then look into a business plan and find out how to get to the top of your niche.

 

[messyyy]

Originally Posted by SupraMan1784

Originally Posted by Chinelasone

For starters you have to have a whole lot of capital to my understanding. Survey your area and see if your niche does not have a lot of competition and its a good target area for a product to sell.

not necessarily. it really depends on what business youre trying to get into...some require more capital than others...say real estate for example.

for op, im just starting up right now. nothing to write home about but we got some projects in development. figure out what kind of business you want to establish first then find out which incorporation you want. that should be your first step. once you find out what it is youre trying to get into, then look into a business plan and find out how to get to the top of your niche.

thanks. did u have to get a business loan to start up ur business?

 

[captaineo22]

You don't need tons of money to start a business; but generally speaking, you need money to make money. 

I work for a startup company right now.  I joined about a year after they started operations.  I would recommend that, with whatever you choose to do, you do your research.  Don't just jump into it.  Spend some time looking at the market, competition, landscape, all that stuff.  Put your thoughts on paper - write a business plan.  There are TONS of internet resources out there for people looking to start a business, just search on google. 

There are a bunch of good startup/entrepreneurship websites and blogs out there that constantly have good content.  Some that I read everyday: Inc.com, fastcompany.com, Seth Godin's blog (marketing guru).  And there's a bunch more too.

If you have any questions or just wanna chat, feel free to direct message me.  I'm always down to talk business

 

[toy collector123]

Writing three business plans right now. Will I speak about them? Depends. Will I speak about this on NT? Hahahah

 

[shatterkneesinc]

go to school and get a degree

 

[rafool]

*bookmarked*

 

[recycledpaper]

i wrote a business plan for loan purposes. got denied on all my loans so i just asked the bank of mom and dad for some funding. got hooked up and just ditched the business plan.

although... i DO plan on finishing it before the grand opening of my business simply because it's a way to keep you focused on the direction you want your business to take.

the bank isn't giving out %#!+ (or at least in my experience).


PS: good luck trying to get ANYONE to tell you about their business ideas on here. succeed and you've found your fool for the day.

 

[supraman1784]

Originally Posted by Messyyy

Originally Posted by SupraMan1784

Originally Posted by Chinelasone

For starters you have to have a whole lot of capital to my understanding. Survey your area and see if your niche does not have a lot of competition and its a good target area for a product to sell.

not necessarily. it really depends on what business youre trying to get into...some require more capital than others...say real estate for example.

for op, im just starting up right now. nothing to write home about but we got some projects in development. figure out what kind of business you want to establish first then find out which incorporation you want. that should be your first step. once you find out what it is youre trying to get into, then look into a business plan and find out how to get to the top of your niche.

thanks. did u have to get a business loan to start up ur business?

Nah. not needed since we're a startup internet company and we could accomplish most of the foundation ourselves. recycledpaper is right...youll need the business plan to secure a business loan from banks, investors, vc's...whatever. theyll want to see future projections, financials, goals...everything. its a pain to write, but if youre serious you wont hesitate. im sure theres a small business development center around your area to help you step by step. again...like i said and like what was already stated....find out what you want to get into, find your niche, find a solution to a problem....then research the hell out of it to make it there isnt something like it or you can bring an entirely new element to the table, then proceed. trust me, youll blow through a ton of ideas before you find the right one.

once you find the right one....work fast...patent it, trademark it....protect it, because there are a ton of people out there that will poach your ideas. when you look at it....you really dont have to re-invent the wheel, just have to take it and make it different.

 

[bigtomgetsgwap]

I've done a few and google was my friend

 

[throwedindagame]

You (and your partners) either need moneyor you need to have the background and business plan to promote serious investor confidence.

I'm more likely to give my money to a Harvard MBA, ex-McKinsey consultant, ex-investment banker, somebody who's already sold start-ups,etc. then some random dude on the street....unless I REALLY believe in your business model and vision.

 

[omgitswes]

posting for reference.

I never understood how people just start up a business from nothing. Even with a degree

 

[andrew630]

Originally Posted by omgitswes

posting for reference.

I never understood how people just start up a business from nothing. Even with a degree

Yea, it surprises me a bit too, but some people just have good business common-sense.

 

[eiddyfouw]

http://www.inc.com/writing-a-business-plan

 

[josebronx]

cop an ounce + hit the corner = hood rich

 

[veryanalytical85]

Posting for reference later.

 

[dead stokc]

U might want to look around ur area and see if u can enroll in an SBA and/or entrepreneurship classes.

I "downloaded" Business Plan Pro last year, and typed up a business plan off of that. Its pretty good as far as guidelines and resourceful info.

 

[thizzle wigle]

Sell sea shells by the sea shore

 

[loendradio]

In order to be successful you have to have something that differentiates you from the remainder of whatever industry you're in. Essentially that resource/process must be valuable, rare, difficult/impossible to imitate and sustainable (advice straight from business school, but it's true and makes sense). You either have to be able to deliver at comparable quality to the industry but at a lower price to the consumer, or at higher quality at a price equivalent to the industry.. and if you find a way to deliver higher quality AND undercut the industry, you've hit a gold mine (given that it's sustainable).

Luckily, I think I've found my gold mine.. so we'll see how this turns out in a few years.

 

[veryanalytical85]

Originally Posted by omgitswes

posting for reference.

I never understood how people just start up a business from nothing. Even with a degree

I had a non-profit venture with a friend when I just got out of high school. Obviously, it's different from profit businesses but it still allows you to exercise and impliment the fundamentals of business.

I started with next to nothing in terms of capital and made a decent profit over time. Sadly, it became a fall out due to third party drama. With that said, thanks for the info considering I'm starting a new one hopefully soon.

  

 

[dj mac]

I'm really interested in starting businesses as well, thanks for the links

 

[gg23]

Some dude I used to work with told me about some program called SCORE. They'd like guide you on how to go about starting a business from what he told me. There might be one in your area that can help you. As to how to go about getting capital to start a buisness.. I wouldn't know what to tell you. I'm having enough trouble getting money to pay for food while at college.

 

[brettthejett]

Originally Posted by shatterkneesinc

go to school and get a degree if you want to work for someone pushing paper

...start reading books.
Here, I'll even help ya out. MUST NEEDS for the basics: 4-hour-workweek and Rework.

 

[crank lucas]

find a old man who's retiring and whats to sell his business wether its a grocery store or car wash, buy him out(loan?), then throughout learning and saving you can open up a future venture, you need to have money to make money