How did you start your own business?

Dunno. Never done it anywhere but the states.

First thing, you have to send a nice check to the right politician.

To grease the skids, so to speak.

Stop posting on a conspiracy site for starters..

Seriously though just draw up a plan, or even make a mental plan of what you want to do and work from there.

See what you will need monetarily and if you can get it from a relative... Best to avoid banks.

Also if you're not 95% sure there's a decent living wage there don't bother or you'll end up being a slave to corporation tax. (HMRC will see more of your cash than you do..)

What your gift or specialty is and beat on doors , I went from door to door, been working for my self 18 years good luck

One day, I bought a domain and some hosting...

Thread: Creed of The Self-Employed

It would depend on what type of business you plan on starting hubby owns a roofing business, and it took 3 years to get everything ready to open that. However if its like an online business then starting off with your very own web site would be a start.

You must offer a service or a product which attracts people. But it's extremely hard to come up with something original and brilliant so you can just take anything which has already been done, but do it better. For instance, FaceBook was not the original social website but it gre to be the largest.

Go to the secretary of state website(in your state). Register the name of your company (decide if you want to be inc./LLC etc.). Im registered as a LLC. Research the pro/cons.

Next go to the IRS website and apply for a ECN # for your business.

Now that you are set up, marketing can be done cheaply through vistaprint website.

best advice:

Just do it

It is actually quite easy to get started. maintaining it and growing it is the difficult part.

Bought a bunch of wax and wicks,wick holders online of next to nothing. bought a bunch of cases of mason jars from a local thrift shop. Bought scents online, made candles. Sold them @ flea markets and local businesses. It was going great until the a couple of years ago. Now there's just to many people doing it.

Got a bunch for preps and presents though.

I mortgaged everything I owned to buy an existing business that was being run poorly. I fixed it.

I then used excess capacity to start a second business on the same premises and grew that to a few million a year in sales.

Three years later, everything is going great. If you are smart and can find a need in your local market, you should not have a problem making money. Find the need, evaluate the financial potential, and if it makes sense - go for it.

Yup, just do it. I worked several jobs in college, bought machines and tools as funds allowed. This all started four years ago. My initial intent was to make high end mountain bike parts, but I had to evolve to follow the money. I made a few custom knives for gifts last year, the feedback was so great that I piloted my venture in that direction. Never thought I would be building man's oldest tool for a living. I now have a modest cnc-shop, heat treating equipment etc. As orders picked up in the fall, I was finally able to leave my regular job and pursue knives and gun parts full time. I now do decent business through my website, and I vend at local gunshows when I have extra inventory.

You will fail; push through it. It won't pay off the first few years; deal with it. Times will be tough, and your dedication will be tested. If starting a biz was easy, everyone would be doing it. And anyone who says "do what you love and never work a day in your life" clearly hasn't tried theirself.

It also helps to have a neigh-sayer to prove wrong. Mine is my ex who became increasingly frustrated and left when things didn't take off as hoped. Look at me know, biatch!

Minimize your risk unless you have good financial backing and sound demographics with an idea that can't lose.

Most people should start small with minimal overhead. Something you can finance with your current employment. Something you can do from your home.

Have a marketting strategy. Work your ass off. And committ to the long run. Most businesses take a good two years before they even start rolling but then they can really move after that.

Use sound practice and keep your books straight. Pay the business before you eat.

Network. Gotta be a smiling politician. Sell yourself. You are your business. Apple CEO still calls individuals who have reported quality problems.

ROFL

That made me laugh so hard

Now if You people have a successful business, You didn't build that, somebody else did that for You! Listen to your commander in chief or he will tax you right out of business!

LOL

Some other things to think about - depending on your business

1. Administration - government will be in your pockets
2. Human resources - this one will bite you in the ass if not sorted out. Make sure you hire and fire the right people. The wrong people can send your business into the ground
3. Logistics. Warehousing, transport and the required paperwork is something to think about.
4. permits, licences, corporate structure. make sure you have all this lined up
5. Finances. Don't overextend yourself, pay your bills first before yourself.Reinvest in the business but at an acceptable rate.
6. Sales and marketing. If you have your own compnany, you are always always selling to everyone. Watch Cadillac man to see what I mean.
7. Large scale contracts. Depending what type of business you are in, securing someone who funnels work to you can be a recipe for success. For example you are a renovator = real estate agent funnels work to you for a referral fee.

Also important = take advice from other successful businessmen, not your family, friends and spouse. For the most part they do not have a clue what they are talking about, will be jealous, and secretly want you to fail so they do not feel so bad about being too cowardly to try.
Every major city has some sort of networking association for business people. Also, other entrepreneurs will be more than happy to discuss you r ideas, wheras others may not.

have confidence, set a routine, be self disciplined and prepare to work 24/7 for a while and make sacrifices. All the while remember to take care of yourself. Stress and burnout can curtail plans.

It doesn't hurt to pray to the big man either.

Having anything of you own has been Bained.

What business are you thinking of starting?

Then you will get some excellent advise.

[link to www.hmrc.gov.uk]

Networking! You need to call on every contact you have to promote your business.

Keep HONEST records of ALL your incomings and expenditure. Do not muddle up your finances. Obtain a credit card that you ONLY use for your business expense.

Find a local book-keeper, who can sort out your accounts and give you (cheap) advise on simple double entry book-keeping. It's not difficulty but a book-keeper friend and my accountant cousin have told me similar horror stories of untangling paperwork.

oh god, you arent one of those tools that come knocking on peoples doors to convert them into christians are you!??!? get a life!!!!! YOLO. why waste your life on a fake belief???

A few other important points... Understand "cash flow". Many successful business have failed because of growth was crippled due to lack of cash - sounds stupid but isn't! Research it.

Another sound bit of advice given to me...

If you meet someone who wants a job done, and they say "Don't worry about the cost!" Walk away!. Again, sounds stupid, but there are people who will say that to you... Because they usually have no intention paying. Rich people can be the worst, and often the reason why they are rich.

If you partner up, choose your partner carefully. If they don't have the same work / life ethic as you, it is likely to lead to conflict / disaster. People can change and become greedy / lazy, and can stitch you up or let you down when the going gets tough.

Avoid debt. People only lend to business when they see they can get their money back. They will quickly pull the plug if they think they have a chance of lose it. Only investing in thing that will give you a reliable quick return.