New Business
By tessah
@tessah (6617)
United States
May 14, 2010 6:26pm CST
im venturing forth into new territory soon.. rather than hitting the pavement and hunting down a job, im striking out on my own and starting a business. kinda scary really.. but im hoping itll pan out well.
have you run yer own bussiness? did it work out successfully? if yes.. what was yer secret?
2 people like this
3 responses
@AnnieOakley1 (5596)
• Canada
15 May 10
Yes, I started my own self-employed business, 15 yrs ago. The secret to it's success for me was/is:
-belief in my product/service
-market research
-Hard work
-long hours
-DETERMINATION/PERSERVERENCE
-ethics/honesty/disclosure
-record keeping
1 person likes this
@dark_joev (3034)
• United States
15 May 10
My parents started a business and I would say the secret is RESEARCH and plan plan and well plan you need to have a really good plan and you have to USE the plan if you don't then well you wasted your time making it. I would say the reason to make the plan in the first place is so that you have a goal and objective to reach so then when you need to make a quick decision you can have a thing to guide you and you know where your want the company to go.
Just some word of advice if you can get in a college class I would say BA 101 should be good.
If you live in the United States you want to form a corporation so that you protect your self from being liable for any liabilities that your business may enter into. I would say buy books covering the subject of business like small business kit for dummies.
You want to form a Corporation or LLC so that you are creating a separate entity so that the businesses assets are different than your own. In partnerships and sole proprietor there is no difference so if your business goes in debt and can't pay it your house and any other assets are liable for sale to pay off the debt.
@iwrite (5034)
• Singapore
15 May 10
I am no expert, however what you write seem so logical, If I want to start a business I would like to form either a corporation or LLC, from what I understand, if you buy properties under your corporation, you are able to reduce tax of the corporation too.
@13tyates (1606)
• United States
15 May 10
The first thing I would like to say is good luck! Also owning a business it can be very very difficult! If you do it right though your business can flourish and thrive no matter what kind it is! Like I said goo luck and I hope to hear of your success some time on the future! Happy Mylotting!
