I have a few ideas that I think would be very successful businesses. But, I have no idea where to start. I have an idea for a clothing line and a few other businesses, but I don't want to say too much. I don't want my ideas stolen. But, how would I go about starting a business?
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How to start your own business or company?
- Thread starter athena
- Start date
To start off a business, you need to create a profit-loss margin overview. Calculate the possible expenses you'll incur like renting a place, material prices, etc. Than you calculate how much you'll need to charge for whatevers and see how much your making. Then take it to a bank and ask for a loan because without one, you won't last on your own funds and it's better for tax reasons to go into a bank and get a loan. Also, when you start off a business, make clear cut plans and find your target population and how you can advertise it best to that target people.
J
jim8372
Guest
register your business online. Go to google and type in "business registration utah" or california, or wherever you're from, and it should give you a "department of commerce" site in which you can register your business. Sometimes it takes a while to get everything in order... Only do this if you are fully comitted... it takes alot of work and self-discipline.. you don't have a boss making sure you get stuff done.. you need to be careful not to get screwed by the IRS... They almost charged me 3000 dollars for not sending in a withholding form... but I already did, and I didn't have any employees yet.. ahha
Cave Creek
New member
Start by writing down exactly how you would finance the sstart upof the business, how you would operate it, where you would locate it, who your customers will be, how will you buy and markup merchandise, what are the demographics of your customer area, what is your competition, what is your experience and any other items you can think of. Then does it still look feasible to you? If so then take your plan to the Small Business Administration and have a talk with them. If still convinced, go talk to your bank for financing.
Most small businesses fail bacause the owner did no have ample resources to run the business for 2 or more years until profitable.
Most small businesses fail bacause the owner did no have ample resources to run the business for 2 or more years until profitable.