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Small Business Ideas Forum

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Old 5th July 2013, 11:00 AM   #1

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Default Don't Know Where To Start

My husband and I are thinking about opening our own business. He knows the service side of it, and I know the business side of it (I think). I just don't know where to start. We are both currently working full time jobs, and need the income coming in from thse jobs. Our goal is not to become rich, but we would like to be able form me to work from home, and live comfortably while taking care of our 3 kids.

I would love to hear from someone else who has started a business with this goal in mind, and to see how you went about doing it.

We do not have much money saved, as we are pretty much living paycheck to paycheck right now.

The only way I can see to get ahead a little is to work for ourselves.

I appreciate any advice you can give.

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Old 7th July 2013, 09:38 AM   #2
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That is a broad question that is hard to answer. I will first give you the standard, appropriate answer and that is to research and develop a business plan. There are free services - like SCORE, SBDCs, or the SBA - that can help you research and develop your idea and answer all your specific questions.

Or, you could start by trying to get customers - at night or on the weekends and start to figure out your business from there. No business will be successful without customers - so start there.

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Old 8th July 2013, 03:46 AM   #3

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First of all prepare a business plan for your business that describes all things of your business. A Good business plan = Better chances to get A business plan application approved.

Get business loans and start your business!!!

Best of Luck!!

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Old 9th July 2013, 03:42 PM   #4

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First of all what kind of business are you planning to have? These will give us a better idea on what to suggest/advice. As a budding entrepreneur like yourself, the start is always the hardest. First, you need to have a good business plan. This is very important since this will help you to be focused and organized on the tasks that you need to do. You mentioned that you have limited budget and still have a day job. I would not recommend you quit your job and go full time but i would advise that you do it in phases. Again, it would be helpful if we know what nature of business you will be in. Another important thing to consider, to buy or lease equipments you need for your operation. I would suggest leasing. It offers a lot of benefits especially for start up entrepreneurs.

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Old 18th July 2013, 04:16 AM   #5

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Default Create a business plan

A business plan helps to define what you think you need to launch your business, large or small. It summarizes the sense of your business in a single document. It also creates a map for investors, bankers, and other interested parties to use when determining how they can best help you and to help them decide whether or not your business is viable.

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Old 19th July 2013, 10:47 AM   #6
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If you are starting a business I am sure you have a plan in your mind, transform that plan into presentation or write it on Word or Excel. Write down your and your husband expertise, strength and weakness. Want to work from without leaving job, set your free time i.e. when you are comfortable to work. In beginning, start business with fewer leads, do quality work, increase your clients/customers network and build your reputation. These all help you to start successful business.

Last but not the least, don't compromise on your kids care. They need your attention and love.

Good Luck

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Old 21st July 2013, 09:20 PM   #7
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Making such a decision is a big move. However, if you need to get ahead in life, you need to make big decisions.

See, first thing is to know the amount, which your business idea needs and how good would it be to generate the profit, where you wish to establish it.

If you see the profit to be feasible, you can go for small business loans. So, in spite of no savings, you will be able to start up your business.

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Old 24th July 2013, 09:19 AM   #8
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Running a small business isn't just like a 9-5 job, so I would definitely consider how much time you'll need to commit to this (as well as think of everything else going on in your life) and think if you can work it out. It's absolutely something that can be done, just make sure to think it through.

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