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on_my_own
05-11-2011, 07:40 PM
First off, I would like to say hello to everyone here. I have so much to read and learn from everyone for sure. I am currently working a 9 to 5, but I am so sure that this is not what I want to be doing forever. I want to have my own business and be my own boss so bad! I am always thinking of ideas, but nothing has really stuck because I would literally have no idea where to begin starting up a business. Can you guys maybe give me some input on how you came up with your ideas and what were the initial steps you took to get started? anything would help at this point. I am still trying to decide what I want to do, all I know is that I truly want to work for myself and I am sure I am committed to putting in the work, just need a starting point. :D

tuitionsource
05-11-2011, 10:04 PM
Welcome to the forum. Where are you from?

on_my_own
05-12-2011, 08:50 AM
I am from the Los Angeles, CA area maybe 15 mins from downtown.

vangogh
05-12-2011, 10:36 AM
I felt like you do now before I got started. I don't know if any of us can specifically tell you what business to go into, especially without knowing you and what you're interested in. I would suggest going into business around something you feel passionate about or at least enjoy doing.

I knew I wanted to be in business for years before I was, but like you didn't know what I wanted to do. I used to take different jobs in different fields to try to see what really interested me. I have a few business ideas along the way, but nothing stuck with me either. Then I took a job with a company creating ebooks. This was years before anyone care about ebooks. As part of the job I needed to work in code that was similar to html that powers the web. I discovered I understood the code well and enjoyed working in it. Not long after I started teaching myself html and other web technologies and eventually it all led to me developing websites for other people.

I can't say I specifically chose to build a web design business. It probably chose me more if anything. It was mostly a case of discovering something I enjoyed and thought I would continue to enjoy, and then learning it on my own. At some point I had enough skills to make a go at it and the timing worked out. Then I jumped in, called myself a business, and started learning how to run and market a business.

Starting a successful business isn't an easy thing. I think all of us who have started one will tell you it's also a great thing and none of us will want to go back to working for others. Still it's not easy, which is why choosing something you feel some passion for helps. It keeps you motivated during the rough times we all go through.

Could you share some of the ideas you've thought of or share some of the things you're interested in generally? Most things can be turned into a business and they don't always instantly suggest business. If we know more about you and the things you like to do I'm sure we can offer some ideas. In the end though you'll have to decide what it is you think you can and would like to try as a business. We'll help if we can.

huggytree
05-12-2011, 04:29 PM
first of all YOU need to choose the business.....no one can tell you what to do

i recommend picking one which can make $100+ per sale...its easier to sell 10-$100 item than 1000- $1 items

once you pick a business then you need to learn about it...

let say you want to own a tropical fish store.....1st step is to get a job at a tropical fish store...learn everything about sales and gain knowledge on how your new boss runs things....look for ways you can run it better...look for ways you can improve products and procedures

take some business classes....try to learn and understand people....save up money!...have a huge cash reserve(enough to get started and also enough to live on for a few months to a few years if necessary)

try to start out part time if possible...then when you cant handle the business part time anymore THEN go full time...this is the low risk method

most people fail...odds are you will too....the reason most fail is because of poor planning and poor business skills....know people and know your customer...figure out how to FIND your customer and let them know you exist.

Patrysha
05-12-2011, 05:19 PM
My approach would be halfway between VanGogh's and HuggyTree's (and that is the beauty of forging your own foundations for your own business). Yes, passion is important, but so is profitability and I see too many people following their passions without taking the proper time to attend to marketing and that really should begin before the business is really born...with research, specifically market and viability research. But it's often not attended to until the last minute and then without much thought or real understanding about what they are doing or what they can expect to accomplish and indeed even if it's possible in their area. For instance, I know of at least two stores locally that would likely do awesome in a bigger centre but are destined to scramble and scrape for business in a small town...especially this particular small town with it's heavily migrant population and cyclical industrial base.

vangogh
05-12-2011, 07:34 PM
Yes, passion is important, but so is profitability

Yep, and my bad if I implied otherwise. I do think just about any idea can be turned into a profitable one though, which is why I focus on the passion side more. It's definitely important to understand how to run a business and how to market it, etc. A lot of that learning can be done independently of your specific business, though naturally it helps to think about both together.

Patrysha
05-12-2011, 08:23 PM
Yep, and my bad if I implied otherwise. I do think just about any idea can be turned into a profitable one though, which is why I focus on the passion side more.

I don't think you did, but a lot of people seem to treat it that way in my experience. I've met a lot of business owners who love what they do but failed to check the basics and adjust their dreams to fit reality and their goals...

vangogh
05-12-2011, 09:43 PM
That's definitely true. I'd go as far to say that the reason most business fail as quickly as they do is the people behind them never think much about the business side of things. They just come up with an idea they think great and assume everyone else will too. Reality can be a buzz kill.

I advise toward the passion side, because I think the business side is stuff we all have to learn no matter what we do and for most, though certainly not all, much of that isn't their favorite part. When you really enjoy what you're doing it makes it a little easier to keep at it until you do learn the business side. Maybe that's not true for everyone, but I know it helped me.

jamesray50
05-13-2011, 12:40 AM
Hi there. Welcome to our forum. I started my business because I was laid off from my job. I have the skills, qualifications, and drive to make my business a sucess. I have a professional website, participate in social networking, answer questions for others in my industy which generates consulting work. I write blogs that get the attention of other professionals in my industry and they link to my blog in their blogs. I have been a bookkeeper for over 18 years and I love what I do.

What do you do? What do you want to do? You said you had several ideas, but having ideas doesn't mean that you can make money from them. It cost money to start a business. Do you have money to start a business? Do you have anyone to invest in a business? Whatever idea you come up with you would need to do a market study to see if your area would support your business. But don't quit your day job yet.

DJ2121
05-15-2011, 09:39 PM
You may find it easier to generate ideas from your interests. Starting a small business takes a lot of work, and since you already have a job you might find it draining to spend your free time learning an industry that you have no inherent passion for. I find that following dreams generally works out better for people in the end than following dollar signs. although those are good too =)

tjmollahan
05-17-2011, 07:30 PM
Your business will start with you. I am a firm believe that a business needs to be a function of the individual. Who you are, what you like, your aspirations and skills should dictate the business you get into. If you can nail this down you won't have to work another day in your life. :)

vangogh
05-18-2011, 11:02 AM
I feel like that too. What makes me enjoy my business so much is that it's a good match for who I am outside of the business. In many ways it's simply an extension of who I am.

MyITGuy
05-18-2011, 03:30 PM
As others have mentioned, you have to love what you want to do with your business...otherwise you won't have the drive or mindset to make it succeed. If you love what your doing, it makes those 12-15 hour days much more enjoyable.

Regarding how I got started:
I've been in the IT industry for the last 15+ years, and more recently was working as a System/Network Admin and Programmer for the billing/collection industry. About 3-4 years ago a colleague from another company and I started talking about going into the consulting business that caters to our industry (We we're both very vocal on our industries discussion boards answering questions that others had). The colleague later left his job and started consulting with a few clients of his own, promising to bring me on-board when more clients signed on.

About 3 years ago, the company I was working for was acquired by a larger organization, after several months I saw the writing on the wall that I was going to be laid off soon.

2 Years ago, the colleague I mentioned had enough clients to warrant me joining his group. Instead of joining as an employee, I started my own company and signed a sub-contracting agreement with my colleague. This way I'm free to do what I want without being focused on the specific industry he's targeting.

Approximately 6 months ago, my old employer reached out to me to perform some work for them, I learned that out of the 6 employees they had in the IT Department, they let all but 1 go about 6 months after I left. Talk about perfect timing!

To be honest, I don't think I would've done it had my colleague not approached me on this venture as he was able to provide my company with a guaranteed income...had I not have had this I wouldn't be where I'm at today and would either be on unemployment or be employed with another company.

tylerhutchinson
05-20-2011, 09:52 PM
First, pick a field you have experience in and you are good at. Make a list of 3-5 that you will enjoy doing and can do.

Second, do a market research of your area for competition and find out how much your competition is making. There are several steps to review and analyze this.

Last, find income and write a very detailed business plan. The more detailed the better. Once it is up and going make sure you advertise so people know you exist.

billbenson
05-20-2011, 10:07 PM
In selecting a business, pick how much money you want to make. If you decide you like being outdoors so you start a lawn care business, you probably won't make a ton. There are plenty of other businesses that can easily make 100k plus. Then again, you may not enjoy the types of businesses that are in that category. Of course in the whole process you need to factor in your skill set.

bizmultiplier
06-16-2011, 12:29 AM
Whatever you do, don't let fear stand in your way. You just have to go for it. Everyone gets held hostage by fear at some point, but the really successful people know how to put fear aside and just go for it. Have confidence in yourself and don't look back. Even if you fail, it's not a failure, it's a learning experience.

vangogh
06-16-2011, 10:32 AM
Good point. So much of success is about confidence and overcoming fear. Many successful businesses are successful simply because they hung in there for the long haul and didn't let anything stand in their way.

huggytree
06-19-2011, 07:57 PM
no one can tell you what business to decide on.......

choose a business, learn about it by working in the same field(become an expert)......look for things your boss is doing wrong or services he could add...

save $$...have tens of thousands saved if possible
learn how to read people, network, sell product---the more people you know and know you the better
start out part time if possible
when you get overloaded then go full time

i always recommend finding the easiest path to $100,000 +............so many people choose something where they are their own boss, but make no more than a workers wage.........if your going to risk everything make it worth it....you should make alot of profit, not just wages.........

Martin Jofique
07-11-2011, 07:37 PM
I have just joined this forum. And this is my first posting. So may I say, hello to everyone. In particular, "Hi, to: on_my_own." You wrote, "Where Do I Begin? The title of a great song by Andy Williams. Well, as the song went, "With this first hello, she gave a meaning to this empty world of mine". So, let's try and give some meaning and give you a starting point.

Like you, I recently started out to create my own online business. I contine my journey and finally found the fortitude to join a forum to share and learn from the experiences of others. For some reason, up to now, I have always shied away from forum discussions which, I now realise, was a seriously bad mistake. And because of that attitude, I really did feel I was "on my own". Silly me. I finally came to realise there is a wealth of information available through shared experiences.

I perfectly understand why you want to be the captain of your own ship and not be at the "beck and call" of an employer. First thing though, as I've found out, you must know what your destination is. You must know what market you want to operate in. Unless you have a clear idea of where you want to go, you have no idea of where you're going and when, or if you end up somewhere you won't even know if this is the place you actually want to be!