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: For those of you who own your own business, what was the defining moment that made you start?
Also, how did you determine the type of business that you wanted to open? What sort of start-up costs did you encounter? How long until your business started returning a profit? Are you better off now after starting your own business? Any tips you'd care to share?
A: 42 yrs old, hated what i was doing and knew i would not earn what i needed (commission sales) started business in field which i had extensive knowledge and experience plus contacts. 50k sba backed loan. made money first year (paper loss) just sold co after 16 yrs...best thing i ever did.
best tip...first plan and research, second, plan and research, third look for all the flaws in 1 and 2 then adjust plan and research based on findings, then ask if you can live with worst case outcome if you can, go for it and make your plan. use the seven p's proper prior planning prevents piss poor performance
Q: Who do you have to be to own/start your own business?
Who has the opportunities, (in the U.S.) to start/own your own business. I would like to start my own business. But in todays society I'm not sure that everyone has all the opportunities to do this. Do you need a degree, lots of money, good credit, and does ethncicity effect your chances, of getting the help and support that one needs from government programs, and other organizations? All help is appreciated.
A: You need to be a driven self starter that follows through tenaciously with your idea. You need to do homework on your product, who you will market it to, have a business plan, and startup cash. Many agencies will help with this if you have a business plan and market analysis.
Q: If you start your own business, how do you go about paying/taking out taxes throughout the year?
I was just wondering....how do you take taxes out of your own paycheck? Thinking of starting a business and I don't want to owe thousands of dollars at tax time. I live in NC if that makes a difference...
A: You have to pay taxes quarterly. Basically, you look at the income you have each quarter (revenue minus expense) and look up how much tax is owed. Then, you submit a quarterly income tax payment form to the IRS with the check. At the end of the year, you finalize the taxes, and on your tax form record the amount of quarterly checks paid. At the end of the year you either have to pay them the difference, or they have to refund you if you've overpaid. The best way I've found to keep track of this is to purchase QuickBooks, keep records in that program, and then send your accountant your file at the end of each year. It's relatively painless.
Q: How hard is it to start your own business? Is there any business you can do from home?
I have always wanted to have my own business. Is there any business me and my husband can start from our own home? We just had our second child and can't afford to buy or rent a building of our own just yet. And NOT babysitting. I have enough kids of my own. I would really like something we can do together. Cooking, crafts, etc. How do you get people or stores to sell your buy/sell your stuff?
A: Starting a business is easy, making it successful and profitable, now there lies the rub.
It should be something you do extremely well and there is little or no competition (a niche).
Usually the less it costs to get into, the more other people will try to do it too. You gotta stick out and advertise it well.
Q: How do the CA courts determine child support when you start your own business?
Curious as to how child support is determined if you ave previously been employed full time and child support has been based on that wage. Now have started own business. What is the new calculation based on?
A: I'm not sure how California does it but in Virginia your CS would be based on your previous income. If a non custodial takes a job that pays less they are considered "willfully underemployed." Child Support is based on their earning potential not their current income. Actually, since CS is factored, in Virgina, from both parents' incomes, it goes both ways
Q: How do you start your own Doggy Daycare business?
What is needed to start your own business? Do you need to have a license? What prices are appropriate? Any information is appreciated.
A: There are no federal license requirements to Open a Dog Daycare. There are however, numerous county and city ordinances, and local governments that do require a dog daycare facility to be licensed. In most cases the license requirements and application are the same as those of a boarding kennel and will require inspections from the health department and local officials on an annual basis. This is to insure that proper sanitation methods are followed so as to eliminate the possibility of spreading infectious diseases from animal to animal. They will also check your records to insure that you maintain up to date vaccination records for the animals participating in services at your facility. The kennel industry can also face inspections by the local health department to check your handling and disposal of solid waste.
Some States require approval by the state board of agriculture as an animal boarding facility and some do not, this is very much a regional issue.
You are going to have to contact your local county or city administration office and review the city and county ordinances specific to your location to determine exactly what the license requirements for a Dog Daycare facility are in your specific area. If you plan on boarding animals overnight then in 90% of the counties and cities you will need to obtain a kennel license. Those that choose to offer grooming services may need to obtain approval by not only your local government but from the state environmental protection agency as well. This is due to the fact that flea and tick shampoos contain pesticides and require specialized disposal procedures as well as specialized plumbing equipment to prevent backwards suction of hazardous chemicals into the city potable water supply.
Your gonna need dog toys, beds, a yard to play in, experience with dogs. (Maybe take a dog training course) Food, treats.
There are books and DVDs that you are able to buy/download with information on how to start a business in dog care. http://www.fabjob.com/DogDaycare.asp
You can also contact a local day care provider and see if they are willing to talk to you about the business, (some people may not talk because its competition).
My dog day care charged me $15 for half day, $20 for full day. Some people charge $30 or a little more. It depends on your location, the demand for a doggy daycare, and the size of the day care and how many dogs you can take in.
This site is the only site I could find that explains it more, without asking to buy their book.
http://www.pawsdogdaycare.com/Start-Up-Services/How-to-Start-a-Dog-Daycare-Manual-Intro.htm
Q: What does it take to start your own business?
You listen to the TV all day and hear all the commercials and ads about starting your own buisiness, and after you hear all of them, you don't really learn anything important. What things in real life do you need to start running your own business?
A: Passion, Motivation, Perseverance, and less than $60.00 ....these are the things needed to start your own business like mine. Serious though, you want to find a product/service that you can be excited about....that you will enjoy working! You want one that is desired by a major part of the population, not just a certain group of it. You want to do your homework. Contact people with the companies you are looking at. Talk with them, ask them lots of questions. When I have someone that is interested in our business, I will loan them one of the products to try, because you have to believe it what you are doing. Plus having the type of product that is in 90%+ of the homes in the U.S. doesn't hurt. (They are always looking for good people.)
Grant you, some businesses will take a lot more that this to get started (funds, inventory, etc.), but I can only talk about what I know. And what I am telling you is how I started my home business. And being your own boss is great!
Best of luck in whatever you choose. Hope this helps.
Q: How hard is it to start your own business in clothing?
With today's economy how difficult would it be to start your own business. With a degree in business/marketing and fashion design how hard would it be to start your own business with me selling my own designs?
A: You really need some experience in retail.
Aside from capital and/or credit, you need to learn how to plan inventory.
Be able to plan into one season, peak, decline, and into the next season.
This has to be done for each category of
clothing and by colors.
Think of skirts, tops, jeans, lingerie, etc. Everything that you wear. Shoes are different, so many sizes to stock.
You'll need to know how to create a budget, buying, markup, break even point, and expenses>fixed and discretionary.
That's a tall order without experience.
Of course you'll need wholesale suppliers. Most of those are directly from China, but they may have distribution centers in CA or NY. I don't know now.
Having said that, these are the basics of retail.
Merchandising
Advertising
Organization
Display
An old adage.
The right merchandise, at the right price, at the right time.
Consider this.
You must be aware of all the store closings. I'm not sure that they will all come back.
INTERNET.
This is cutting into all retail stores.
It will become stronger in my opinion.
Accounting can be done by others, but, there is a plethora of software out there, even for inventory control and planning.
Many small businesses have been started and became successful during recessions.
There's always room for a good business.
You can look over this link from SBA and SCORE.
http://www.score.org/template_gallery.html
Follow your dream.
Good luck.
Q: Is it expensive to start your own Home Staging Business?
No, it is not! To stage homes for the real estate market you will need some extensive training. Home Stages Designs offers a comprehensive Training Course on CD to train you in all aspects of starting your own business and staging training from a-z. At a low cost you can train at your own pace in the privacy of your own home.
Some seminars and workshops across the country can be rather expensive to travel to and this is the very reason Home Stages Designs created our training course on CD-ROM. Dont put off your dream of entering into the world of interior design when you can train quickly and convienently at a low start up cost!
See us at www.Homestages.com for further details
"Your success is our successs".
A: So...did you just answer your own question?
Q: How much money do you need to start your own business?
The type of business I am refering to is like opening up your own storage unit or your own convenient store. How do you do it? What kind of assets do you need to start? Who are the best people to talk to?
A: you might think about buying a franchise which will cost you depending on the type of business, but anywhere from $2,000 to $25,000+ to begin
if you want to start your own business, decide what you would best like to do in life, something that will make you happy and feel like you "get to do" instead of you "have to do".
the best person to talk to would be a lawyer, because he/she will give you a good idea of what you need to do and what it will cost.
here is a list of the top, low-cost franchises:
(also www.entrepreneur.com is a great source)
http://entrepreneur.com/franchises/rankings/low-costfranchises-115390/2007,-1.html
Q: Five reasons not to start your own business~?
I need five reason why a person should not start his own business. And what risk's are there to start to your own business.
A: most business fail within the first 2 year
Q: How to start your own business?
I want to open my own business. It would be a urban clothing store, probaly located in Washington D.C. (havent decided on location)? What steps would i have to go through to open it? Where do i start? How do i go about getting loans and investors? Appreciate your comments.
A: Go to http://www.score.org/ and in the upper left hand corner, enter your zip code. On the next screen, you will get information on the nearest SCORE chapter. Call them and arrange for a free meeting with a SCORE counselor.
SCORE is a nonprofit association dedicated to entrepreneur education and the formation, growth and success of small business nationwide. SCORE is a resource partner with the U.S. Small Business Administration (SBA).
SCORE has 389 chapters in locations throughout the United States and its territories, with 10,500 volunteers nationwide. Both working and retired executives and business owners donate time and expertise as business counselors.
Q: What is the minimum age that you can start your own legal Business?
I was wondering what was the legal minimum age that you could start a business.
I am not sure whether starting a big business or a small business will affect the age.
I am looking for the minimum legal age to start your own bussiness.
Or if you can be at any age to start your own legal business.
A: It varies from state to state. 16 is the youngest age I have seen. The problem is that some one under 21 can't be legally bound for signing contracts in most states.
Q: For business owners: How do you start your own business and register your company's name?
I am starting my own home-based business. I hope I can expand it outside of the home in a couple of years, but until then I just need to know how to start it. Like tax wise how do I go about registering and do I have to get a Tax id?
A: Check with your local courthouse about registering a business name and any licensing requirements. As long as you are the sole owner of the business and have no employees, you can use your SSN for a Federal Tax ID no. For state taxes, it depends on your state and the type of business. For example, if you will be required to collect sales tax, some states require a separate tax ID even if you don't have employees.
Q: Did you sucessfully start your own business?
I’d like to take the leap from working for someone else to working for myself. I have a little start up cash and a lot of ambition. I’d like to hear from people that successfully started their own business. What business did you open? How much start up $ did you need? How long have you been in business? How long did it take for the business to start supporting you and what does it take to sustain that income?
A: it took me 3 years to become well known in my business
now its fourth year. to be in touch with your customer at frequent interval will help a lot. start looking to cut cost at purchase side and expenses so that u dont need to grow selling price or service charge. it will surely sustain the income.