3 answers
Peyton
Student
Canonsburg, Pennsylvania
1
Question
Asked
272 views
When im going to try to make a small business. The first step to do that though is to sell something so im going to make clay bead breacelets. Why am I trying to start a small business? Im going to try to start a small business so I can get some extra cash.
Starting a small business.
Bring in costumers.
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3 answers
Estefanía Giraldo
Account Executive
1
Answer
Bogotá, Colombia
Updated
Estefanía’s Answer
Hello there! Embarking on a business venture is an incredible opportunity to gain hands-on experience, so don't hesitate to dive in! Remember, it's crucial to identify what problem you're solving for your potential clients. Perhaps they desire to stand out by sporting a unique bracelet that will catch the eye of passersby.
Contemplate how to convey this value and bring joy to your customers. In my opinion, this is what sets a thriving business apart from one that's struggling. Moreover, always maintain a close watch on your expenses (after all, turning a profit is part of the game), and don't overlook the value of your own time invested.
Contemplate how to convey this value and bring joy to your customers. In my opinion, this is what sets a thriving business apart from one that's struggling. Moreover, always maintain a close watch on your expenses (after all, turning a profit is part of the game), and don't overlook the value of your own time invested.
Marshall Main
Director, Manager, Videographer
75
Answers
Raleigh, North Carolina
Updated
Marshall’s Answer
Peyton
Starting any business will have some common things. There is a lot of things to learn, but good news is you can learn them.
If you are interested in starting a business, I would suggest you take some classes/ courses on "Starting a business" and read some books/ articles related to things in your local state/ country of choice for operation.
Every state/ city will also have specific rules you will need to be aware of, the business councils will have information (and often classes/ meetings) where you can go and ask questions.
Every business is made up of some core components:
Financial/Legal
Marketing
Production/ OPS
Sales/Support
Those areas will expand depending on the specific needs (i.e. tools to make things, delivery trucks, development teams etc.). In your case you will need a store (web or physical), materials and a way to process payments and ship materials.
You will want to know what your product is, where it fits in the ecosystem of where you will be selling it, who your competitors are and what they do that you cant or dont, you will want to know your customer base (is this something they will buy). What makes you different from your competitors/ businesses in the area (can people get the same thing across the street?)
You will also need to understand how money works, paying taxes, investment strategies, managing cash, dept and other things like purchasing. As well as hiring, staff management and product sourcing and health standards.
You will also need to know who you need to hire/ what skills are needed to accomplish your goals. You need to understand what parts materials you need to deliver your product and where to source them.
You will want to have legal support to deal with issues that arise (such as clients that don't want to may, contract negotiations, other legal concerns, laws and requirements met/ reviewed etc).
The good news is you don't have to do this alone. Getting partners and or investors will help take some of the weight off your shoulders. As will hiring staff that specialize in these things (like marketing, finance or operations/OPS).
As a freelancer, I have had to make myself the business, which means I had to register as an Scorp/LLC and file all the appropriate paperwork with state and federal institutions. I had to market myself, manage my equipment and employees. I had to track all the money, payments, receipts, etc by keeping books. I had a law firm that I worked with and made sure to be aware of changes in things around me that affected my industry and therefore my business.
The best thing you can do is go to your local library and ask them about book "starting a business". There will also be some resources online, google "starting a business in [your state]". Your Town hall will have information on the government offices to contact to get more detailed information and can also maybe point you to some informative classes or seminars. There are services out there that you can pay to help set things up too if you are getting to that point. There will be no shortage of people you can hire to do the work for you, but if you want to save some money and gain the experiences of doing it yourself, reading will be the first step. It is also a good idea to at least educate yourself on how things work even if you don't do it yourself (to know if it's being done correctly). As the owner of the business, the buck stops with you, as they say, so you will be responsible to make sure the business is running correctly.
You might also attend a small business summit (many of these happen online but may also happen in your area). You can meet others that have done what you want to do, ask questions, find out how they dealt with challenges or possibly partner with them.
Starting any business will have some common things. There is a lot of things to learn, but good news is you can learn them.
If you are interested in starting a business, I would suggest you take some classes/ courses on "Starting a business" and read some books/ articles related to things in your local state/ country of choice for operation.
Every state/ city will also have specific rules you will need to be aware of, the business councils will have information (and often classes/ meetings) where you can go and ask questions.
Every business is made up of some core components:
Financial/Legal
Marketing
Production/ OPS
Sales/Support
Those areas will expand depending on the specific needs (i.e. tools to make things, delivery trucks, development teams etc.). In your case you will need a store (web or physical), materials and a way to process payments and ship materials.
You will want to know what your product is, where it fits in the ecosystem of where you will be selling it, who your competitors are and what they do that you cant or dont, you will want to know your customer base (is this something they will buy). What makes you different from your competitors/ businesses in the area (can people get the same thing across the street?)
You will also need to understand how money works, paying taxes, investment strategies, managing cash, dept and other things like purchasing. As well as hiring, staff management and product sourcing and health standards.
You will also need to know who you need to hire/ what skills are needed to accomplish your goals. You need to understand what parts materials you need to deliver your product and where to source them.
You will want to have legal support to deal with issues that arise (such as clients that don't want to may, contract negotiations, other legal concerns, laws and requirements met/ reviewed etc).
The good news is you don't have to do this alone. Getting partners and or investors will help take some of the weight off your shoulders. As will hiring staff that specialize in these things (like marketing, finance or operations/OPS).
As a freelancer, I have had to make myself the business, which means I had to register as an Scorp/LLC and file all the appropriate paperwork with state and federal institutions. I had to market myself, manage my equipment and employees. I had to track all the money, payments, receipts, etc by keeping books. I had a law firm that I worked with and made sure to be aware of changes in things around me that affected my industry and therefore my business.
The best thing you can do is go to your local library and ask them about book "starting a business". There will also be some resources online, google "starting a business in [your state]". Your Town hall will have information on the government offices to contact to get more detailed information and can also maybe point you to some informative classes or seminars. There are services out there that you can pay to help set things up too if you are getting to that point. There will be no shortage of people you can hire to do the work for you, but if you want to save some money and gain the experiences of doing it yourself, reading will be the first step. It is also a good idea to at least educate yourself on how things work even if you don't do it yourself (to know if it's being done correctly). As the owner of the business, the buck stops with you, as they say, so you will be responsible to make sure the business is running correctly.
You might also attend a small business summit (many of these happen online but may also happen in your area). You can meet others that have done what you want to do, ask questions, find out how they dealt with challenges or possibly partner with them.
Ajay Karanam
4
Answers
Bengaluru, Karnataka, India
Updated
Ajay’s Answer
Hi please check your budget, kindly don't sell or invest in case you are very much in need of selling to start your business, try to get a small loan or use your credit card and start your business thanks oneness healthiest times 🍊🙏😊😊