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I want to start my own business but I don't any experience in starting and running a business. Additional, I don't have much money. I think I borrow and STEAL about four thousand dollars for a business. If you own and run your business, please give advice on how you did it. I have no ideas and need helpful FREE advices. Thanks everyone!!!
Last edited by decker1963; 06-08-2011 at 06:45 PM..
99% of what are characterized as "small business" is really about someone buying themselves a job.
That isn't necessarily bad... but it will help if it is understood.
So... focus on something you have some skill doing and that people will pay you to do.
Something that you already own the tools or equipment that might be needed.
Keep it simple. Small projects that you can complete and be paid for quickly would be best.
Location: East of Seattle since 1992, 615' Elevation, Zone 8b - originally from SF Bay Area
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Keep in mind that 50% of all small businesses fail withing the first two years,
and those that I have seen fail were due to someone trying to make a business doing something they knew nothing about. Mine was doing something I did as a hobby for years, and I started with $28,000
in addition to all the equipment and a 4 year lease. I made it 17 years
and raised 3 kids before my customers started to go away in 2008-2009
and I decided it was time for a real job again.
Assess your skills and keep in mind a service business lends itself better to bootstrapping. I've been self-employed, but I don't consider myself a "business owner" for quite a while now, mostly out of neccessity.
Some easy/cheap ideas that can grow or lead to other better things:
- Lawn mowing service. Need a pickup with a push mower, edger, and weed wacker. Used off Craigslist, around $300 not including the pick up. Those can be bought pretty cheap too, something like an older F150 or Ranger, or S10. Advertise on Craigslist, make some flyers and go door to door. For $15/mow, people might want to hire you out. As you get better/bigger, add in things like lawn renovation using a tiller, and bring in dirt etc. Learn about warm and cool season lawns, how to best maintain them, etc. The internet is your friend.
- Insulation installer, attics. Attic insulation is cheap, and easily blown in for free if you buy a certain amount from the big box stores. You don't really need any start up equipment, just a car like a station wagon or a pickup would be better. Advertise on Craigslist/flyers/door to door like the above. Profit, around $250 per person (two person team) for an average blow-in.
- Parting used cars. I can make $1,000 in a weekend. Tools needed, $150-$200 set of Craftsman tools, and an engine hoist, around $150 at any Chinese import store (IE Harbor Freight). You also need a garage or someplace to part it out. Buy the cars off Craigslist cheap, with bad engines or trannies, and part out the rest. The last car I did I bought for $250, stripped it, and sold it for scrap for $100. I did pay a tow truck to tow it to my garage for $130. Sell on ebay or Craigslist.
After you make your list, double check to make sure the busines your going to do does not require some special licenese. Some that were mentioned do require "contractor's licenses" and with the requirment to get that licnese, your not talking a fast startup or low cash startup. You may be able to do it without a licenese if required, but when caught, it can be very expensive.
I want to start my own business but I don't any experience in starting and running a business. Additional, I don't have much money. I think I borrow and STEAL about four thousand dollars for a business. If you own and run your business, please give advice on how you did it. I have no ideas and need helpful FREE advices. Thanks everyone!!!
Look around your home.
How much unused, unneeded stuff do you have?
Start placing some of those items on Craigs List.
Sell what you can and use that for seed money.
Buy some inexpensive, semi desirable items online in bulk and sell them on E Bay or Craigs list.
There's a business.
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