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Member Questions
Hello, So many of you have your own businesses which range from small to medium and sometimes grow into something ever bigger. I was hoping to find out if there is some standard research steps that are recomended prior to starting a business. Also, while starting/running a business takes siginficant amount of effort, I was hoping to find out whether many of the small to medium businesses (especially online ones: web communities, products/clothing lines developed by moms, etc.) are actually profitable. And if so, the ranges of profitability (Are we talking just above the red line of the costs, or real revenue that allows the same living as working for a large corporation in a mid-level position (again there are ranges). Also, any tips on where such information can be located would be greatly appreciated. I am at a stage where I am asking a lot of questions trying to understand "how things work" and would be greatful for any resources that would provide factual picture of the online world of small to mid businesses. Thank you ”
Asked by Kira on 16th August 2008
Comments so Far...
Ericka Cherry
www.healthrepsneeded.com
www.mybenefitsplus.com/echerry
Flag as inappropriate by Ericka Cherry on 2nd September 2008
Ericka Cherry
www.healthrepsneeded.com
www.mybenefitsplus.com/echerry
Flag as inappropriate by Ericka Cherry on 2nd September 2008
Ericka Cherry
www.healthrepsneeded.com
www.mybenefitsplus.com/echerry
Flag as inappropriate by Ericka Cherry on 2nd September 2008
I would suggest you
1) Google the "item" to see if there is already a niche. Do some digging, networking, etc...
2) If this is something that looks to be somewhat lucrative, then I would also suggest getting a tax id number and contacting an accountant and a business lawyer (if necessary)
3) Marketing is a key factor! I have found so many sites to market myself, that now I'm doing more and more things, but keep in mind that you don't want to "throw yourself" at people, just treat them the same way you would like to be treated.
I would also suggest you check out on www.ning.com mommy2mommy, star.tup.biz, mombloggersclub, and anything to do with business and marketing.
Hope this information is helpful,
Giazz
PS Becci, thanks for the Joyful Business Planning tip, I will have to check that out!
Flag as inappropriate by Giazz on 26th August 2008
Flag as inappropriate by Kira on 17th August 2008
http://workitmom.com/bloggers/entrepreneurmom/
Flag as inappropriate by Nataly on 17th August 2008
I recently started my own business, as well. It is great fun, but it is definately a different world. Here are a few places where I have found valuable information.
Read "Tuned In." It is a business book about how companies go about solving a potential customer's problem by developing a product/service around it, rather than bringing mimicry to the market. Very good book!
Use your local Small Business Development Center. Most communities have them and they are a terrific resource foryour very questions.
Visit the website for Joyful Business Planning. I found them very helpful.
Good luck! Becci
Flag as inappropriate by BecciH on 17th August 2008