Starting Your Business

Johnny / September 16, 2009

Starting Your Business: Retail Business

Moving towards a retail business is one of the most profitable ventures that an entrepreneur can take considering that it is one of the fastest growing sector in any economy. At least one third of most ventures undertaken come under this category and it allows a good and honest living through providing people with a wide variety of goods and services. Retailing is mostly undertaken through trading mechanical parts, electronics, clothing and accessories, appliances and home utility goods and it also includes services like advice and skilled labor mostly in the life-improvement sector. Basic Retailing can come under the following categories: 1. Store-Retailing: This includes most independent shops which range from departmental or convenience stores to conventional supermarkets and many large-scale enterprises. 2. Specialty Retailing: It is achieved through understanding the demand of the market and supplying directly to the needs of the customer. 3. Non-Store Retailing: …

Johnny / September 6, 2009

Starting Your Business: Finding Money for the Start-up

Finding adequate sums of money for starting a business is the biggest hurdle you may face, unless you have deep pockets or some or the other kind of inherited wealth. It is impossible to start a new business without some startup capital because most businesses do not start making money immediately and there is no guarantee that the business will rake in enough money in its initial period, for you to live on. Here are a few tips that will help you in getting you dream startup capital. A Good Business Plan - You can raise money only if you know what you are going to do, what you are going to sell and the reason you are going to succeed in doing it. As a new businessman you need to write a business plan and define how you re going to use the funding if it’s made available to you. Defining Your Options - You will need to make a list of all kinds of sources of funding that you can tap and they may include banks, credit cards, customers, government funding and even friends and …

Johnny / September 3, 2009

Starting Your Business: Choosing The Type

Running a business is one of the most lucrative career options out there, as not only does it pay well and make for an excellent source of income, but it is equally challenging and fulfilling activity. For running a business, you do not necessarily need to be highly skilled or create an innovative product that everybody would need; rather you should focus on developing a good idea and plan its feasible implementation. All you need to do is take a step forward and you just might find the perfect path which will help you get all that you desire. Here are a few ideas to help you get started. Many people spend a lot of time just to get that one brainwave which will make their dreams come true. Others take a look around and brainstorm. One of the best possible ways to take the leap is to consider your capabilities, experience and your interests. For example, if you are good at cooking or if you are a chef you can start you own restaurant business. If you are interested in music, you can …