business rookie

[kunondrum]

(Dearborn, MI)

Hello-

I've wanted to start my own small business from home but never really knew what to do to start...I've also considered just jumping into the business field, getting a loan, and taking over another business (gas station, store, etc.). should I start small and get a feel for how a business is run? what steps should i take?

 

[Veronica1228]

(Dearborn, MI)

Hello-

I've wanted to start my own small business from home but never really knew what to do to start...I've also considered just jumping into the business field, getting a loan, and taking over another business (gas station, store, etc.). should I start small and get a feel for how a business is run? what steps should i take?

Starting your own business is a huge step to take, and a dangerous one if you are ill prepared. Based on your post it is appears that you don't even know where to start. I would suggest that you enroll in a class at your local community or technical college. They usually offer courses like Business 101 or something similar that might help you to get an idea of what you are getting yourself into.

I don't mean to put a damper on your enthusiasm, but believe me it will be worth the 2 or 3 months wait to take the class.

 

[kunondrum]

Might be a good idea

Hello-

Based on your post it is appears that you don't even know where to start.

Not completely true ... I have a friend that started his own business and I've been picking up ideas here and there. Taking a course would be very helpful though.

Thanks!

 

[racer72]

90% of all small businesses fail in the first year, the number goes to 97% after 3. In almost every case, it is lack of knowledge of how to run the business. About 10 years ago I had a chance to buy a limosine service, it intrigued me but I knew nothing of how to run that type of business. I went out and learned, starting from the bottom and a few years ago I felt I had the knowledge to run a limo service. I bought and now run a small limo service (3 cars, a 4th will be delivered soon) and it is successful because I learned the business inside and out. I have always suggested that before starting a business, go work in the business and learn all you can. With the changes coming in the bankruptcy laws, it is not going to be easy to just up and walk away from a failed business as it is now. Bill Gates didn't decide to start a software company on a whim, it took 20 years of hard work before Microsoft became successful.