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Old 16th December 2013, 03:43 PM   #1
D_Orian
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Default Again, What Type Of Business Should I Start?!

Only 20 years old, however over 5 years in Retail with big companies. It's not me forever though, and I want to achieve more for myself and my future. Any ideas on a business I could start with limited capital to start with?

In addition to this I'm confident dealing with a variety of people across a broad spectrum. Which always helps and very business minded and money orientated.

Many thanks!

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Old 17th December 2013, 09:00 AM   #2
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Well, you haven't given us much to go on in terms of knowing your skills and interests, so it's a difficult call.

In general, you need to look around in your area, see if there are any needs that aren't being met, any paint points that haven't been adequately addressed, and open niches. This doesn't mean that nobody else should be in that line of business, just that there seems to be more demand than what the present suppliers can handle. Of course, if you've discovered something really new and interesting, you might also be the first one to the party, so the lack of competition shouldn't be a deal-breaker, either.

The key is the demand. It's always easier to get started when there's at least some demand already there. You can start from ground zero, developing demand for something totally new, but that's a harder row to hoe.

If you really look, you should be able to identify several such areas. Pick the one that most matches your talents and interests, and go for it.

The Small Business Administration (www.sba.gov) has some creative ideas for getting started on a budget. I urge you to check out their resources -- it's a great starting point for any new businessperson. They may also be able to offer low-interest-rate financing if your business qualifies.

Good luck!
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Old 17th December 2013, 10:31 AM   #3
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I heard along time ago a basic rule of thumb to consider when starting a small business.

1) Do something you have a passion/love for
2) Do something you have experience with
3) Start small

Since your only experience is in retail, I would consider if you want to do something in that area. If you want to branch outside of retail then I would go out and get some work experience in that field before starting up something on your own. If you can combine something you love with your retail experience then I would consider that as well.

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Old 18th December 2013, 01:40 PM   #4
DeniseTaylor
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Why don't take the parts of your experience that you're best at and find an angle using that? I'm pretty much oriented to online business, so think in those terms. If you have knowledge that can help people, you can use it to create something online. It's low cost and low risk, but it is work to get it to pay off. Just some thoughts there, that might help.

Good luck!

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Old 14th February 2014, 11:57 PM   #5
desw
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What type of business should I start? I would love to do something with human services. I have a med.tech. cert., a degree in Early Childhood (an A.A degree), I drive, cook, and etc. ( lite cleaning: laundry, run errands, vacuuming, bed making and lite personal assistance). What type(s) of small business can or should I look into? ( Oh, yes I a single parent with a job.) Please help me with some great ideas and/ or leads. Thanks everyone.

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Old 17th February 2014, 02:52 AM   #6
DennisChang
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Perhaps you can look at it from another perspective: What are the problems or issues I wish to solve? Are there any issues in your field of expertise that you feel need to be solve? Think about a solution for that issue and think about a business model for that solution.

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Old 17th February 2014, 06:54 AM   #7
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Thanks

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Old 18th February 2014, 06:21 PM   #8
Sean_DeSilva
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One mistake a lot of new people make is planning too much before getting field data.

The truth is that most of your ideas won't work. The best way to solve that issue is to talk to people in the industry you want to get into.

You mentioned something about human services, so a good place to start would be to volunteer at a relevant organization and pick the brains of the people who work there. Over time, you'll gain a deeper sense of the actual needs in that industry. it's the difference between thinking about it and living in it.

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