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Small Business Ideas Forum

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Old 2nd February 2012, 09:51 AM   #1

Join Date: Feb 2012
Posts: 3
Default Wannabe Business Owner

Hello Everybody,

I've seen some fantastic feedback on this site from many clued up people with regards to setting up businesses

I could do with some bright ideas myself whilst brain storming/job hunting today

I am now unemployed after 6 years in direct sales and would love to use some of my free time to create some venture.

Good at:-

DJing in bars/clubs (14 years of mixing records)

Listening to music
Reading about Entrepreneurs
Making music (well some days I enjoy it)

But just what is the world crying out for, during these hard times my good people?

I have created my own brand before in the way of a night/event and made a tiny profit from 3 events at 3 venues, but I rule with the head not heart and although I was making some decent moves and even booked my hero DJ/Producer and warmed up for him- I packed the banners away due to it taking too much time and effort for little return.

Any ideas are of course welcome



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Old 3rd February 2012, 01:27 PM   #2
The Diamond Pen
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Posts: 46

Focus on what you're good at. Maybe combine training with skiing and be a personal ski coach?

if you just do what you love, but aren't any good it, you won't be successful. Passion will only take you so far - talent and smarts has to take you the rest of the way.

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Old 3rd February 2012, 02:17 PM   #3
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Location: Greenwood Village, CO
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You're off to a good start by listing the things you like and the things you're good at, but I have to agree with Matt...liking something a lot doesn't mean you'll be successful at it. I really like basketball, but I have absolutely no innate talent for the sport so if my dream would have been to play it for a living, I probably would have been disappointed. Picking something you like AND you're good at is the real key to success and happiness.

You mentioned starting a DJing business and opening for your hero but packed the banners away after 3 events. It takes time to make a name for yourself, especially in that business, but if you enjoy it and you're good at it, why not give it some more time? Rome was not built in a day and neither will your business. It takes time, patience and lots of perseverance.

I'd suggest talking to your hero about his experiences. People like talking about themselves and he may have some insight about how to be successful in that business. I highly doubt he was making a very good living after only three performances.

If you need immediate income, starting this type of business probably won't help. You may want to consider some of the home-based business advertised on the web, but I'm pretty skeptical about most of them. The other option is to look for a job and build your business on the side. That's how a lot of people do it...that's how I did it.

Good luck!

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Old 4th February 2012, 11:43 AM   #4

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Very Good advice Matt and I will take it on board, thank you very much. All the best to you.

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Old 4th February 2012, 03:35 PM   #5
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Posts: 16
Default Start with the selling...

Hi Kenny,

I suggest you start with the selling. If you're good at it and you don't mind doing it then you have an opportunity to make some serious money and make great connections that will serve you in the future.

Have a think about starting your own sales/distribution business. As a one-man-show you could approach small, local companies that are desperate to get their new product(s) out in the marketplace and sell them to local businesses.

To do this you would need to:

(1) decide what type of distribution business you want to run. What products are you going to be selling? Decide this by thinking about the types of businesses you want to visit everyday (offices, liquor stores, conveniences outlets, day spas - the list is endless, but pick one)

(2) Find products to build your portfolio. Visit trade shows, look at unknown products in stores (ask the owner if they are on 'consignment' - a particularly strong indicator that a company is small and desperate to get their product out there), keep an eye on new advertising and put your services out there in the local community (get your business registered and have 200 business cards made - it'll cost you next to nothing. You may need insurance but you could probably put that off till you start making some money)

(3) Approach the companies and offer distribution of their product within a territory (ideally - your whole state). You could buy the stock outright and then sell it, but if you don't have much capital you should approach them with an offer to distribute with commission paid for every sale (should be 10-15% of the value of the product). Do this for as many companies / products as you can within your chosen category of products.

(4) Make sure you cover all your basis (such as when they send you commission checks, that they agree to deliver stock to the customer, that the customer's repeat purchases are yours for a specific period of time and so on) - sign an agreement.

(4) Get images of the stock, build a professional portfolio and hit the road.

Not only will you be running your own portfolio and be able to drive around all day rather than being stuck in an office, but you will build a network of business contacts that will give you an in-road to future businesses that you may never have thought of.

Being good at (and enjoying) selling is a trait that not many people have. If you do have it...make the most of it. Playing the tough game now will reward you exponentially in the long run.

Best of luck!

Business Epiphany
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Old 13th February 2012, 01:21 PM   #6

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Default BIG THANK YOU to The Diamond Pen & Rachelz

Hi I did actually post a reply to The Diamond Pen, however there must of been some sort of error as It is not displaying today. I think it's important that you know all your advice is appreciated. I've been for a second interview recently and although I turned the job down in the end, I really got on with the MD that interviewed us all and integrated and put us all at ease with his friendly chatty ways and great mannerism. Whilst chatting business I mentioned this site and told him how it amazes me when great business minds take a few minutes to type out some help for a complete stranger. How nice is that?!
btw guys I don't have capital. Otherwise how cool would a skiing complex/nightclub be ...one night music the next-stand up comedy, day time could be meetings etc. Don't suppose anybody has a spare few billion quid/dollars do they

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Old 13th February 2012, 01:27 PM   #7
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Location: Charlotte, NC
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Hey Kenny, I feel your pain. I too started a business in an industry I love very much.

I think you have to have a passion for anything you do or be content doing whatever you have too for income.

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Old 13th February 2012, 08:41 PM   #8
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You should do something that you have passion in. Identify your skill sets and the skill sets required for the business you want to do, and try to find partners that can complement your skill sets.

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Old 13th February 2012, 11:10 PM   #9
The Diamond Pen
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You're welcome, Kenny! I'm happy to help, as is most everyone here. I agree - this is a great community!

Matt @ The Diamond Pen, Inc.: Custom content and writing services, crafted to exacting standards.
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