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I Want to Start a Business.

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hyena in petticoat
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Posted 09/10/08 - 12:15 AM:
Subject: I Want to Start a Business.
I sort of have an idea as to what to do (since currently work in a marketing/ franchise consultancy firm).

I thought that the business should go along with my interests: Food (since I like to cook) and maybe clothes/ fashion. I have not arrived in a specific idea as to what kind of business I'm going to invest in.

The worrisome part is of course, the probability of failure. How to go about the risks? If I ever invest in something, I thought it should at least have high chances of success since, as some people put it, my "pockets aren't exactly deep". I don't have that much money to "play with", if you get my drift.

Anybody here who has tried starting a business? Any pointers? Ideas?

Paul
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Posted 09/10/08 - 6:15 PM:

Ah, you want to follow in my footsteps. sticking out tongue (Except, well, an entirely different field.)

It is likely to take a while to build up income. I was able to get started while living unemployed with my parents. Doing it while employed doesn't leave much time, and quitting work is as you say a big risk. Still, maybe you can get started and get a few sales in your spare time before committing. Get an idea of the potential that way.

Selling online is a low-cost way to reach lots of people, at least for items that cost enough that the shipping cost doesn't outweigh the item price. Ebay or your local equivalent. Food probably doesn't online-auction very well, but clothes could.

I have not arrived in a specific idea as to what kind of business I'm going to invest in.

You really need to arrive at one before you can make any plans. Check out what some competitors are doing.
e.
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Posted 09/12/08 - 3:18 AM:

Hyena,

Good luck with your business. thumb up

e.
hyena in petticoat
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Posted 09/12/08 - 3:27 AM:

Thanks e. smiling face I wish myself goodluck too. sticking out tongue

Thanks for the input Paul. smiling face A friend suggested a printshop (invitations, calling cards, etc. ) and I am sort of considering the idea since I could market the products/ service online. Plus, I sort of like creating stuff too. I've had a few stints at invitation making for two officemates. (Son and newphew's birthday celebration invitation).

I'd appreciate ideas, inputs or criticisms as regards my current considerations. Thanks all. peace
praxis
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Posted 09/12/08 - 10:14 AM:

For the food arena, an idea for a niche market that may have potential to work online might be nutrified foods. Cereals, cookies, etc that are nutrified with natural extracts claimed to have beneficial physiological benefits and reduce the risk of chronic disease beyond basic nutrition. The aging baby boomers, a big market, want to stay young and vibrant. They need their antioxidants, sulforaphanes, isoflavonoids, etc etc. And extracts from fruits and vegetables like acai berries, pomegranates, broccoli, and whatever don’t require FDA approval and can be marketed as all natural.*

Good luck with whatever you try.
libertygrl
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Posted 09/12/08 - 11:06 AM:

as paul mentioned, ebay is a good low-risk way to try your hand at internet commerce. you would need a paypal account, a few goods to sell, and some supplies for shipping. this also would be a good way of trying your hand in different markets to see what appeals to you. you might try browsing the different categories on ebay to get some more ideas of what kinds of goods people are offering online.

finding a niche market like praxis suggested can be highly lucrative. i have a friend who makes most of his income selling alice in wonderland clocks and memorabilia online, and does well enough in sales worldwide that he closed up his local shop where he lives and now does all his business online.

the key, i think, to doing well at running your own business, is to find something you feel really passionate about. otherwise it is too easy to be deterred by setbacks. every new venture is a risk. but fear of failure can be a self-fulfilling prophecy.

smiling facelib
Spindlework
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Posted 01/22/09 - 6:30 PM:

These days, internet business is all about ranking high naturally on search engines, which has somewhat of a learning curve, although everyone is capable of ascending it, in my opinion. I run a few e-commerce stores and I'm getting more ambitious about it as of recent. To echo libertygrl and praxis, I'd recommend you start out with a smaller niche to get your feet wet (that's what I did). If you have any questions about niche selection, product sourcing, search engine optimization, etc. send me a PM and I'll do my best to address them.
hyena in petticoat
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Posted 01/22/09 - 8:35 PM:

Thanks spindlework. I'm actually still undecided about the kind of product I want to sell. They said that I should venture into something I'm really into but I still am lacking any brilliant ideas as of the moment. Can you show me a sample of one of your stores (link)? Thanks again! smiling face
hyena in petticoat
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Posted 04/13/09 - 3:21 AM:

Finally.

http://esthetiquesalon.multiply.com

It's not really internet commerce but it's something to provide some experience in business management. I hope it fares well. smiling face
libertygrl
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Posted 04/13/09 - 3:52 PM:

awesomeness. heart the decor
hyena in petticoat
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Posted 04/13/09 - 11:33 PM:

Thanks.hug We worked hard for that. smiling face
hyena in petticoat
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Posted 05/25/09 - 10:24 PM:

I didn't realize business can be this stressful. crying I shall not fail however. Whatever happens, this business will survive with flying colors.thumb up

Meanwhile, I'm thinking of starting a perfume business then sell them via direct selling. Very small capital.

Edited by hyena in petticoat on 05/25/09 - 10:31 PM
libertygrl
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Posted 05/26/09 - 2:17 PM:

perseverance is key, for sure. perfume sounds like an interesting venture, will you have a website too? i'd love to check it out.

good luck with your endeavors! hug
hyena in petticoat
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Posted 05/26/09 - 8:06 PM:

Thanks. Aja! grin
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