How to start a business

No. And then when you think you can, remember I said it's not going to happen for you.

Your post shows that you need to learn a lot. Let's point out a few mistakes:

- It's going to based online without an actual store. (Revolutionary idea there to capture your target market. Do you have any other points of differentiation?)

-How do I go about starting from scratch. (There are these things called business plans. Make one and a slide deck that no one will see bit ask for)

-Since, it's based online, I can get it going without borrowing money. (Unless you are a freaking good programmer and marketer, you are going to have problems)

-and will be able to borrow money from the bank b/c I have great credit. I just don't know how to go about it.[not even credit-worthy applicants are getting small business loans these days. Don't count on it)

I thought this is where your dreams become reality.

Not for you. And dont. Do not. DO NOT go to 1 VC without a grey-haired, experienced management team. VCs fund the management team, not the idea. And VCs all talk to each other so if you f-up by looking like you don't know what you are doing then you've screwed yourself with the rest of them. And you have to schedule all your VC meetings within a very short period of time, like 1-2 weeks. If they say 'no' then your business is shot.

Like I said, no. you need to know how to play the start-up game.

Generally banks won't loan to small businesses without some tangible collateral/assets (like for renting or buying a physical store), so forget that.

Learn how to set up a website/online store. Wordpress is a good option, and you can find some good videos for how to do this on YouTube.

I'm not currently running a profitable enterprise, but I recently set up a website that has a lot of latent potential...gets around 25k visits a month in a very targeted, regional market (city overseas where I used to live) that is becoming pretty well known in that market. I would have to move back abroad to really leverage it, but it took me less than a week (while working a demanding job) to get a very professional looking site up with very little web development background.

Janecurious wrote:

Like I said, no. you need to know how to play the start-up game.

That's why he posted. Not saying this thread will have the entire answer. But he said he doesn't know. Look like *you* know what you're doing, by listening effectively.

I don't know where you are getting your information on what business loans are available, but you are clueless.

We just closed on a $250k loan for a dental practice and the bank was willing to provide 100% financing. Good credit, and good income go a long way. We have plenty of outstanding debt too - primary mortgage, and mortgages on three duplexes.

You must be reading the headlines about the evil banks not lending any money? lmao.

I'm still in the very beginning stages with my business idea. I have my business plan written down and all that jazz. I'm in the process right now of getting feedback from my close friends. I can borrow at least $50K if not more just from credit cards to get it started for sure. I'm going to do this on the side so I'll have income coming in as well. I just wanted little guidance to get it off the ground.

Go for it.

I own a business and it's fantastic. I set my own hours, have 20 people working for me, have time to run, make great money, no one to report to, and the list goes on......

Look at his this

http://www.sba.com/

They have mentors for different areas of business if you need help.

They have templates you can use, support and options to securing funding.

Good Luck.

I received great service from https://merchcash.com/resources/post/business-loan, a small business lender. They provided me a year ago was really helpful in getting my business to the next level. The Merchcash associate I spoke with was very good at explaining me the options and the cost. He was very personable and overall I had a great experience.

First and foremost, you should start with a solid business plan. Without an understanding of how your business will pay for itself, it's likely to fail. In addition to calculating how you will make money, you need to outline the start: (depending on what kind of business it is) stages of production, tech recruitment, sales, etc.; as well as the subsequent development - what you plan to improve or go to. In general, if you have never started a business before, it is worth getting help and counselling from people (preferably people you know) who have already started their own business.
Good luck to you=)

I'll leave you a link, you might find it useful.

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