Any entrepreneurs here ?

[Hopyoneson]

Re: Any entrepreneurs here ?

had another calc but my excel is crashing, but you can do a simple sheet that calculte your earnings for you and how much you need to sell etc.

[Gen]

Re: Any entrepreneurs here ?

K20..yuh have time...she nuh tap walk up and dung the board a bawl out seh she guh a one good college a manhattan, suh mi expect har fi have 65 credit outside of liberal arts, including business 101/marketing and the fuss 2 accounting class.....nuh badda waste yuh time wid har..yuh nuh hear seh she deh ya fi troll out the board [img]/forums/images/graemlins/blush.gif[/img]

walk har out and guh finish up the ting weh yuh a work pan [img]/forums/images/graemlins/70409-waytogo.gif[/img]

when it set you can all have one blog with it ..

[Serenity82]

Re: Any entrepreneurs here ?

[ QUOTE ]
serenity...your best bet is to do a complete business plan on both ideas.

what you need specifically is to do a cash flow statement...determine your income for each month of the year...and where it will come from. then take a look at your expenses for each month as well...

figure out what you're selling to who....and where and how you'll find your customers....who is your competition....to determine if you'll have enough customers to fill your income needs.

bottom line...you need to examine the bottom line.

check the Small Business Administration's website...i'm betting they have some tools for you there.

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Thanks so much Loops! I'm seeing that one really has to investigate and do alot of planning. I've put my plans to open a business on hold while I do more research. I've purchased to books from amazon to help with learning the in's and outs of it all.

I hear it's really easy to fail at it, that's why I'm asking for advice, as well as researching on my own.

[Serenity82]

Re: Any entrepreneurs here ?

[ QUOTE ]
Ok been busy but here is where you want to start
1)Decide on the type of business you want, sole proprietor, partnership (general, limited), S corp (share revenue like a partner but have corp organization), regular c -corp
2)Next business plan, what are you selling, books what types of books, kids, horror, cookbooks, used students books, niche i.e. jamaica books, etc
3)What is your capital (seed money), how many months can you live off your money. To do a simple cash flow analysis take all your fixed expenses for the month (rent, mortgage, insurance, utilities) and add up montly how much it cost you.
Then you will need to calculate how much you need to cover this expense. Hypothetical your fixed expenses (not including food is 2,200.
One book you get wholesale for 5 bucks you think you can make 20% profit and sell it for 6 dollars, to cover your fixed expenses only you will need to see 366 books in a month to cover your 2,200 rent, and you did not pay for the books as yet (366*5)=1,833, to make that you need to sell another 305 books so to just break even (yu noh eat yet or buy latte) you need to sell roughly 670+ books a month, can you move this type of volume.

Noh figet you did not pay for the second order of books 305, that you had to sell to cover the first 366.

[/ QUOTE ]

Thanks so much Kingston [img]/forums/images/graemlins/70459-hugs.gif[/img] Those were such good points. I realize it takes alot of planning first. they say buying and selling is the lowest risk in terms of starting a business.

-requires least amount of investment and if you invest alot(as in buy alot, you can always sell the goods off).
-Low investment required to buy and sell
-flexiibility, can work from home and can do it parttime.

I guess I haven't decided what specifically to buy and sell, despite what Geneva has written, I have a degree, but never took economics and business courses. Therefore, I'm not skilled in terms of marketing, understanding the market and rules of business.

They say selling books-well that there's always a market, esp. b/c school age people always need to buy books however doesn't seem like one can make such a huge profit out of it.

Still researching though...thanks!

[Serenity82]

Re: Any entrepreneurs here ?

[ QUOTE ]
K20..yuh have time...she nuh tap walk up and dung the board a bawl out seh she guh a one good college a manhattan, suh mi expect har fi have 65 credit outside of liberal arts, including business 101/marketing and the fuss 2 accounting class.....nuh badda waste yuh time wid har..yuh nuh hear seh she deh ya fi troll out the board [img]/forums/images/graemlins/blush.gif[/img]

walk har out and guh finish up the ting weh yuh a work pan [img]/forums/images/graemlins/70409-waytogo.gif[/img]

when it set you can all have one blog with it ..

[/ QUOTE ]

hush Geneva, I'm keeping you in mind, particularly for my charity and fundraising! [img]/forums/images/graemlins/70409-waytogo.gif[/img]

[Serenity82]

Re: Any entrepreneurs here ?

[ QUOTE ]
had another calc but my excel is crashing, but you can do a simple sheet that calculte your earnings for you and how much you need to sell etc.

[/ QUOTE ]

thanks babe!(are u male or female)??

[BlessedLadyOfZion]

Re: Any entrepreneurs here ?

what about if I'm going into a francise? mi can use dem same tips yuh poas k20?

[Tuff Gong]

Re: Any entrepreneurs here ?

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Looking to educate someone else about the ins and outs of running ones own business?

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Okay I running a whor....err massage parlour!
Is there a way to spice it up, attract more johns...err clients?

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Tuffi mi neva know yu was a sexist.. Yu nuh wan fi attract Jennies as well as clients ???????? [img]/forums/images/graemlins/70409-waytogo.gif[/img] [img]/forums/images/graemlins/70409-waytogo.gif[/img]..

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Sorry I will note your concern and make the appropriate changes, but I did say clients.