Starting business in the U.S.

[rheanick 42]

I would like to ask advise for those who have started there own business here in the US.

Would like to ask for do's and don'ts... Any learnings you could share?

Thanks in advance for any post or PM for this topic.

Edited February 8, 2009 by rheanick

[sunandmoon 450]

I haven't started a business, but if it's a brick and mortar business, location, location, location.

[I AM NOT THAT GUY 5,715]

I would like to ask advise for those who have started there own business here in the US.

Would like to ask for do's and don'ts... Any learnings you could share?

Thanks in advance for any post or PM for this topic.

First, most businesses fail within 6 months. The reason is capital, and when things get too tight, the novice with look for a temporary job until things get going, and slowly lose interest in the business he started. You need a plan for how you are going to survive if the business does not make you any money for the first two years.

Second, get a business plan! When you go looking for capital, the first thing any investor is going to look at is your business plan. So, do your homework!

Third, learn the market. Find out what does and does not sell. Talk to others already in the business. There is more comradry than competition in business. When you first start out, many of your first customers will be referrals from your competition.

Fourth, is advertise! You got to let people know you are in business. Make contacts and give out business cards. Time your opening to coincide for when the new phonebook comes out. Listings generally close 4 to 6 months before they are distributed.

Fifth, learn the regulations and laws governing your business, what licenses and permits are required.

Sixth, is learn the tax laws! Modify the business plan to your tax advantage. Most business are auditted in their second or third year, and even a small mistake can be compounded with interest and penalties.

Seventh, don't give up!

Good luck

Edited February 8, 2009 by Mister_Bill

[rheanick 42]

Its not brick and mortar business, but i would definitely keep in mind the importance of location...

thanks

I haven't started a business, but if it's a brick and mortar business, location, location, location.

[rheanick 42]

I already studied writing a business plan and bookmark the URL of IRS. You pointed out several items that i'm not really familiar with.

All your advises are awesome!

thanks...

I would like to ask advise for those who have started there own business here in the US.

Would like to ask for do's and don'ts... Any learnings you could share?

Thanks in advance for any post or PM for this topic.

First, most businesses fail within 6 months. The reason is capital, and when things get too tight, the novice with look for a temporary job until things get going, and slowly lose interest in the business he started. You need a plan for how you are going to survive if the business does not make you any money for the first two years.

Second, get a business plan! When you go looking for capital, the first thing any investor is going to look at is your business plan. So, do your homework!

Third, learn the market. Find out what does and does not sell. Talk to others already in the business. There is more comradry than competition in business. When you first start out, many of your first customers will be referrals from your competition.

Fourth, is advertise! You got to let people know you are in business. Make contacts and give out business cards. Time your opening to coincide for when the new phonebook comes out. Listings generally close 4 to 6 months before they are distributed.

Fifth, learn the regulations and laws governing your business, what licenses and permits are required.

Sixth, is learn the tax laws! Modify the business plan to your tax advantage. Most business are auditted in their second or third year, and even a small mistake can be compounded with interest and penalties.

Seventh, don't give up!

Good luck

[thepizzadude 26]

I would like to ask advise for those who have started there own business here in the US.

Would like to ask for do's and don'ts... Any learnings you could share?

Thanks in advance for any post or PM for this topic.

My first bit of advice is to ask questions pertinent to your business that you are planning on starting and you will more than likely draw more informative responses.

[Jasman0717 9]

Claudeth keeps telling me she wants to start a business but when I ask her what kind she has no answer I have a chicken farm in the Philippines, maybe she can go help my business partner run it

[rheanick 42]

Thanks for the post.

My inquiry right now is more on generic advise for those who have started business in the US.

I would like to ask advise for those who have started there own business here in the US.

Would like to ask for do's and don'ts... Any learnings you could share?

Thanks in advance for any post or PM for this topic.

My first bit of advice is to ask questions pertinent to your business that you are planning on starting and you will more than likely draw more informative responses.

Jazman

That's a good start for claudeth...

Claudeth keeps telling me she wants to start a business but when I ask her what kind she has no answer I have a chicken farm in the Philippines, maybe she can go help my business partner run it

[tallcoolone 102]

Go to your local Country courthouse and get a DBA (Doing Business As) for around $10

Then you have a company.

Next thing is to find some type of business in which you can earn money.

I have been self employed for about 10 years now.

Overall I enjoy it, but I have seen some hard financial time a couple of times, But in general I can earn a lot more money per year than working for an employer.

[rheanick 42]

Tallcoolone,

Thank you! That is cool!

I will include DBA in my itinerary next week.

Go to your local Country courthouse and get a DBA (Doing Business As) for around $10

Then you have a company.

Next thing is to find some type of business in which you can earn money.

I have been self employed for about 10 years now.

Overall I enjoy it, but I have seen some hard financial time a couple of times, But in general I can earn a lot more money per year than working for an employer.

[HappyDancer 7]

I'm planning to go for a career in cosmetology and going back to the travel agent business someday, maybe about two years from now. The way I would approach it would be to study the market behavior first. My credibility would depend greatly on word of mouth since it's going to be like an on-call type of business. I would give out free makeover sessions to friends and relatives of my future husband along with hanging out with some friends who already have contacts in their areas. When I finally am confident that I can do it on my own, then I would make use of the worldwide web for adverts, get a license, get a business permit and get it going... Slowly but surely.

[rheanick 42]

HappyDancer,

Are you in AZ area? Can i sign up for a free session? I just had my hair and make-up done for my wedding... it cost me USD 105 + tip.

Go for it!!!

I'm planning to go for a career in cosmetology and going back to the travel agent business someday, maybe about two years from now. The way I would approach it would be to study the market behavior first. My credibility would depend greatly on word of mouth since it's going to be like an on-call type of business. I would give out free makeover sessions to friends and relatives of my future husband along with hanging out with some friends who already have contacts in their areas. When I finally am confident that I can do it on my own, then I would make use of the worldwide web for adverts, get a license, get a business permit and get it going... Slowly but surely.

[HappyDancer 7]

Hi rhea! I would love to give you a free makeover. I am going to head to KY. I have always wanted to be a makeup artist / beautician ever since I was like 7. I am taking up certificate courses here in the Philippines and would get the certificate before I leave for KY. It's a TESDA course so it is recognized abroad. It takes time but i will get there. In case I do get the chance to be anywhere close to you, or you come over to KY, just holler and you'll be prettied up!

HappyDancer,

Are you in AZ area? Can i sign up for a free session? I just had my hair and make-up done for my wedding... it cost me USD 105 + tip.

Go for it!!!

I'm planning to go for a career in cosmetology and going back to the travel agent business someday, maybe about two years from now. The way I would approach it would be to study the market behavior first. My credibility would depend greatly on word of mouth since it's going to be like an on-call type of business. I would give out free makeover sessions to friends and relatives of my future husband along with hanging out with some friends who already have contacts in their areas. When I finally am confident that I can do it on my own, then I would make use of the worldwide web for adverts, get a license, get a business permit and get it going... Slowly but surely.

[rheanick 42]

PM me your email. I have a (just one-page) story of a filipino OFW in hongkong that now owns a beauty salon. Though different place, its a nice real life story, from an employee to a business owner...

Hi rhea! I would love to give you a free makeover. I am going to head to KY. I have always wanted to be a makeup artist / beautician ever since I was like 7. I am taking up certificate courses here in the Philippines and would get the certificate before I leave for KY. It's a TESDA course so it is recognized abroad. It takes time but i will get there. In case I do get the chance to be anywhere close to you, or you come over to KY, just holler and you'll be prettied up!

HappyDancer,

Are you in AZ area? Can i sign up for a free session? I just had my hair and make-up done for my wedding... it cost me USD 105 + tip.

Go for it!!!

I'm planning to go for a career in cosmetology and going back to the travel agent business someday, maybe about two years from now. The way I would approach it would be to study the market behavior first. My credibility would depend greatly on word of mouth since it's going to be like an on-call type of business. I would give out free makeover sessions to friends and relatives of my future husband along with hanging out with some friends who already have contacts in their areas. When I finally am confident that I can do it on my own, then I would make use of the worldwide web for adverts, get a license, get a business permit and get it going... Slowly but surely.

[HappyDancer 7]

DOne Rhea! Hoping for the best for you!