EliteCM.net

I don't currently own or run a business, but I am looking to start up a small shop or e-commerce site in the near future.  This is more about getting some advice from people who may have experience running a business.  Or anyone who has experience just being involved in the start-up of a new company/business/etc.

Not sure if this is a topic that's worth discussing, but if anyone has any good advice to young entrepreneurs, I'm sure it would be appreciated.

Ive been having similar thoughts. I just don't know what I want to do. I helped a buddy start a flooring company that has taken off. What type of questions do you have.

I guess my main questions revolve more around how to raise the capital to start a storefront - if that's what I end up deciding on.  There's always small business loans, but I think most of the time you have to have decent collateral and overall good standing with credit.  I don't have any real collateral for a loan like that so I'm wondering if there is another avenue that I could take.  There's always the investor route, but I have no background or experience that would really get them excited to give me their money.

I think the best/easiest way to become a business owner is to figure out a good business model for an e-commerce website and then just market the hell out of the site to get a wide user-base.

Some people are making a killing on websites like Etsy or you could even start with a fb page with a link to a "store" I went to the chamber of commerce a few years ago, asking about how to be a freelance illustrator. He told me to start with a business name, make cards, flyers, brochures, and register my business name. He told me to make my own website too. I have a friend who makes soaps out of her basement and she was making so much money she was able to quit her day job. What is your business going to be? Is it a product or service?

I started a small security company (cameras, alarm systems, etc) and do that on the side here and there. I don't dedicate too much time to it and my customers are mostly family, friends and their referrals.

I would start by writing down a business plan (what do you want to sell, to who, where...etc) and then start searching for local competition...etc. Any advice you are given will definitely vary by what market you are entering, so definitely start there.

But if you want something general, it usually takes spending some money to make some money. I invested a few grand and right now I don't have any expenses other than my website hosting. I do need to set up and ecommerce section on my website.

Cyanide has it right, start with a detailed buisness plan, in some cases going thru the exercise will help you decide what direction (if any) you want to go. The buiseness plan is your primary tool for raising capitol, it is what a bank or private investor will want to see, be sure to include charts showing opening/operating costs. Onceyou have that you will also need a legaly binding NDA n(non disclosure agrrement), this one I learned the very hard way, the NDA MUST be signed by ANYONE you show or discuss your buisness plan with, without it they can take your data and run.

This is all great advice for sure. Paul thanks for the thoughts on the NDA.. Hadn't even crossed my mind at all.

I'm not sure of the exact direction I want to go quite yet. E-commerce requires a hell of a lot less capital to start up and low operating costs.  But you guys are right about the business plan, and that's where I was planning on starting. I have a business partner who has experience setting up a site and running it in the same fashion that I'm looking for.

Who knows, this could start as a small website then turn into a small storefront, then maybe a chain. Have to aim high right?

Have problem with my business website. Have not maintenance it yet since set up a year ago.