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Starting your own business (fulltime/partime)

colgatesmile

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Have you ever started a business, either full-time or part-time? Share your experiences, please. I'd love to work on something part time, I just don't know what I could do that would sustain a long-term business that could eventually be the sole-source of my salary.
 

colgatesmile

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I haven't flexed my creative muscle since high school, and i'm not a techie. I guess my business would have to be something in services...professional or personal services (hold the hooker jokes please).
 

Mercedes Jones

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Funny I want to start selling hair..And was thinking of starting a thread
 

Audiophilia

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part-time and it takes time...especially for what I have started...takes time as I have other things I'm doing as well...

Find what interests you, if there's a market for it all ready, make yours the best than the rest...find out about the competition and make yours better than theirs... :smile:
 

Philosophia

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How do you thoroughly investigate a particular market? Where do you begin?



part-time and it takes time...especially for what I have started...takes time as I have other things I'm doing as well...

Find what interests you, if there's a market for it all ready, make yours the best than the rest...find out about the competition and make yours better than theirs... :smile:
 

Philosophia

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DP..delete.


part-time and it takes time...especially for what I have started...takes time as I have other things I'm doing as well...

Find what interests you, if there's a market for it all ready, make yours the best than the rest...find out about the competition and make yours better than theirs... :smile:
 

Suzy Poon Tang

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Whatever you decide, please make sure you have a simple but well-written business plan. It makes it easier to get loans as well as getting into really good mentoring programs/business incubators. Also get to familiar with Census data -- it is excellent for market research...you must know your market inside out as well as how any public actions may affect them.
 

Philosophia

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Duplicate Post..delete.



part-time and it takes time...especially for what I have started...takes time as I have other things I'm doing as well...

Find what interests you, if there's a market for it all ready, make yours the best than the rest...find out about the competition and make yours better than theirs... :smile:
 

janedoe

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I just started planning to open up a wedding invitation business. I would love for it to turn into something so that I didn't have to work for the Man anymore lol. I want to do something I enjoy and make money at it. I hope people who have their own business will reply.
Good thread :good:
 

Cosmogram

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I have to somewhat get a clear answer on how I should start my business. I've started a thread on it and still felt confused and lost.
 

EgoTrippin

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Ditto. Whatever you choose to do, it's going to take time and effort. Try something you like-vs-something you think is going to be hot because you're going to have to put a lot of time in to get it off the ground.
You can utilize your local Small Business Association to get a better perspective on writing up a business plan. You'll need that for just about anything from getting monies to registering for business accounts.
part-time and it takes time...especially for what I have started...takes time as I have other things I'm doing as well...

Find what interests you, if there's a market for it all ready, make yours the best than the rest...find out about the competition and make yours better than theirs... :smile:
 

EgoTrippin

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Have you tried contacting SCORE? They have professionals in just about every field.
I have to somewhat get a clear answer on how I should start my business. I've started a thread on it and still felt confused and lost.
 

Audiophilia

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How do you thoroughly investigate a particular market? Where do you begin?


you gotta look on websites, see what they offer and what they don't...see if what they offer you can do better...

looks at different companies, compare them...see what's different between them...

look at what companies are considered the "best" and look at the ones that are considered "average or ok or not so hot" and compare all of them, see what each has to offer and where they may lack in other areas...
If there are comments, look at those...see how you can build your brand...

etc...
 

twinology

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Thanks for bringing this up. I would love to be an independent travel agent, but so many people book their own vacation so it's like what's the point.

Then I thought about owning my own spa. Idkwtftdo smh
 

ALLTHATJAZZ

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Starting a business takes a lot of focus... as well as blood sweat and tears... I started my business in 2003... Damn near went broke and I was lucky to have a support system during several years of financial ups and downs.. I am a bit stubborn and I knew I would break thru, my company last year grossed 1.5 million... This year since January close to 4M... I am blessed but I feel that I have worked hard and paid dues... Whatever field you go into make sure you have a mentor and have a plan. Also one piece of advice that got me thru aside from God, NEVER GIVE UP... the only person who will believe in you is you. I say go for it and love what you do and make sure it makes sense. Those are my 2 cents
 

ALLTHATJAZZ

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Psst. do it! I love to travel but I hate booking it... I wish I had a consistent reliable agent... register your biz, save your web domain, get a good technologist/web designer to create SEO (search engine optimization) where your sh!t comes out in the top of web searches and book your clients... If you have that idea go for it! I bet you you will be a thousandaire before the year is out...
 

janedoe

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Starting a business takes a lot of focus... as well as blood sweat and tears... I started my business in 2003... Damn near went broke and I was lucky to have a support system during several years of financial ups and downs.. I am a bit stubborn and I knew I would break thru, my company last year grossed 1.5 million... This year since January close to 4M... I am blessed but I feel that I have worked hard and paid dues... Whatever field you go into make sure you have a mentor and have a plan. Also one piece of advice that got me thru aside from God, NEVER GIVE UP... the only person who will believe in you is you. I say go for it and love what you do and make sure it makes sense. Those are my 2 cents

That's great! You don't have to tell me what your business is but did you start out as something that was home based or with physical location?

My other dream idea is a women's only fitness center but that startup cost is crazy high and I know there would be that point for a few years that you're making no money. So wedding invitations I could keep my day job and the startup cost is so minimal w/ no overhead.
 

ALLTHATJAZZ

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that's great! You don't have to tell me what your business is but did you start out as something that was home based or with physical location?

My other dream idea is a women's only fitness center but that startup cost is crazy high and i know there would be that point for a few years that you're making no money. So wedding invitations i could keep my day job and the startup cost is so minimal w/ no overhead.

well yes i worked form home and literally just opened up an office last month just hired 2 employees. I have to hire because things were getting to much to handle for one person and sometimes i wonder how i did it on my own because my new hires are swamped and all i am doing is delegating its crazy!

Ok for a fitness center, what you should do is.. Get your personal training certification or start a company that hires personal trainers with exemplary credentials... Cater to hi-end clients you never know you may snag an investor but the key is to provide the best service, imo thats how you can break into that...

As far as wedding invites let me see your sample because i am getting married soon but yes its smart to start with no overhead.... Smart move, do as much as you can on your own and generate that dough baby... Stack it.. And diversify but you can have two businesses... But back to the fitness center... Do your due diligence but start that company with pt's it will lead you in the right direction, just oversee and manage that sh!t. Get liscensed and bonded (something people don't do) that will set you apart...
 

GrimReaper

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@ ALLTHATJAZZ what kind of business do u have?

congrats on your success
 

ALLTHATJAZZ

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WELL WIT WHAT? I gave a lot of advice but specifically do you want to know babe.. I am all ears
 

Tanya Turner

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As far as opening my own business goes , I plan to do what my friends did when I got to grad school.

I have a couple of friends who have started part-time side gigs as cpa's.

They did on the side bookkeeping , financial planning ,taxes during the season.

They had their regular jobs , and then they took a couple of extra hours for their own business.

Some of them eventually quit their regular job , and started their own firm since they were doing it from home at nights.

Since I wont be able to hold a full time job in grad school , I need something with flexible hours and that pays good.

Most of my cost would be publicity and getting a good accounting computer program . Since it will be mostly home based business .
 

HoneyPotTrap

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i haven't been successful. I'm trying to find out what I love to do right now.

I have one thing 'going', but am still looking. am considering two other things.

I was looking at 'Ambient' which is a direct sales company that sells utility services; but it's not available in my state.
 

okeydoke

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Have you ever started a business, either full-time or part-time? Share your experiences, please. I'd love to work on something part time, I just don't know what I could do that would sustain a long-term business that could eventually be the sole-source of my salary.

I did. Well, I'm in the process of it now. It's basically a consulting biz. I do it part time currently but will go full time once I'm earning the kind of money I want from it.

Good Luck to you, and great thread!
 

~Wildflower~

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I just started planning to open up a wedding invitation business. I would love for it to turn into something so that I didn't have to work for the Man anymore lol. I want to do something I enjoy and make money at it. I hope people who have their own business will reply.
Good thread :good:

..... register your biz, save your web domain, get a good technologist/web designer to create SEO (search engine optimization) where your sh!t comes out in the top of web searches and book your clients... If you have that idea go for it! I bet you you will be a thousandaire before the year is out...

I'm going to start an event planning business. I've already been working in one aspectof the industry, but now I'm gonna branch out. I can work from home, make my own hours and I can charge what I want. I registered my business name, obtained an EIN# (for taxes), got a corporate bank account, a website domain and a phone number. Now all I need are cards and some clients! :lol: I do want to do a planner certification program. Right now I'm just reading books. I may even offer my services for free to an established planner just so I can learn. I have no plans to start anytime soon, but I know that if I make steps toward what I want, God will take care of the rest!! Good luck to the both of you!
 

mountaineyes

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This is a great thread OP. The same thing has been on my heart for a while.
 

janedoe

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I'm still working on my biz plans. I'm having a hard time figuring out whether I should register as a Sole Proprietorship or an LLC. Can anyone give some insight?

As far as wedding invites let me see your sample because i am getting married soon but yes its smart to start with no overhead....
Girl I didn't see this post! PM we'll talk if you're still looking. I would love to do some heavily discounted work to get my portfolio built up
 

GoldGold

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I want to start my cosmetic company and while it's relatively easy I have plans to be bought out by Estee Lauder(or at least grab their attention) in 10 years.

So I have issues with registering my biz in NYC because they require you to publish two items of some advertisement that announces your business.
I was at a SCORE biz plan class and they said there's no way around it because without, the biz is not a legitimate. But on top of start-up costs, I hate to know that I will have to spend 1000 on this thing.
I haven't started selling anything yet but someone said I could just reserve the name which is cheaper and once my business starts making money, I can register the name or change it if need be.
 

GoldGold

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When I was in my biz plan writing class (don't hold me to it) they explained:

Sole Proprietorship:
Advantage:
Simple and inexpensive to create and operate
Owner reports profit or loss on personal tax return

Disadvantage:
Owner personally liable for business debts
Not a seperate legal entity(which I think is a problem if someone sues you)



Limited Liability Company
Advantages:
Owners have limited liability for business debts if they participate in management
Profit and loss are allocated differently than ownership interests

Disadvantages
No beneficial employment tax treatment
 

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