Operating Your Own Business

[Kerriann]

Have you ever try starting a business of your own? If Yes what challenges have you face in trying to make a success of it?

I would appreciate all the answers I can get regarding this vox poll. Thanking you in advance.

[Wahalla]

Re: Operating Your Own Business

yep ..i thought about starting my own bizness....importing commodities...

[jah_yout]

Re: Operating Your Own Business

<div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: Kerriann</div><div class="ubbcode-body">Have you ever try starting a business of your own? If Yes what challenges have you face in trying to make a success of it?

I would appreciate all the answers I can get regarding this vox poll. Thanking you in advance. </div></div>

i have &amp; i would definitely advise to keep on top of your taxes at all times...and incorporate if possible

[Gen]

Re: Operating Your Own Business

whats a vox poll ?

[Emperah]

Re: Operating Your Own Business

alla de ansah dem weh unno a guh gi har

[Emperah]

Re: Operating Your Own Business

Kerrianne chk dis out.


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[Ja. Jewel]

Re: Operating Your Own Business

I've had 4 of my own businesses and the best advise I can give is KNOW that you can dweet!...pick something that you are good at &amp; enjoy doing....besides that, do your homework as far as monetary investments necessary for sucess....in other words, make sure you have enough money to sit on until the business starts generating income...

[trelawnysmall]

Re: Operating Your Own Business

I have owned several of my own businesses in my lifetime. I love being my own boss and HATE making other people rich, while they think it's suitable to toss me a bone.

Only on one occasion last summer have I worked for someone else and that was only for 2 months, besides working in the recording studio here in Negril, which I did because the perks were well worth it and I was learning a lot and getting paid for it.

Other wise I gave up being an employee over 20 years ago.
It takes hard work and dedication.
You certainly figure out what you're made of.

[Nylah]

Re: Operating Your Own Business



many things to consider which also includes does your personality suit running your own business.

You need a clear inventory of what your strengths and weaknesses as a technican, manager, marketer, and visionary.

Where you are not as strong those are the gaps you need to fill. Not everyone is a good sales person, so no matter how good you are a doing a service or providing a product, if you cannot convince ppl to buy from you, you will fail.

Have a business plan: outline how you plan to finance yourself. how long you can go on your own savings before your company sees a profit. what your end vision for your company is and the yearly (or 1/2 year) markers that will guide you to your vision.

Depending on what you are doing incorporation isnt always the best route. It depends on the type of business u plan to do. Some activities it si better to be a sole proprietor.

Either way, business insurance is a good option. Again subject to what u want to do.

Put in place methodologies and processes that can easily be duplicated if tomorrow you get hit by the proverbial bus


plus this allows you to at some point step back but have the business continue to run itself instead of it being tied directly to you. This keeps the business a separate entity from you instead of the business being all about you and unable to continue without your presence.

Prepared to have no life in the beginning but remember you need to build in balance otherwise you will burn yourself out and not want to continue.


my two cents

[Ja. Jewel]

Re: Operating Your Own Business

<div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: Ja. Jewel</div><div class="ubbcode-body">I've had 4 of my own businesses and the best advise I can give is KNOW that you can dweet!...pick something that you are good at &amp; enjoy doing....besides that, do your homework as far as monetary investments necessary for sucess....in other words, make sure you have enough money to sit on until the business starts generating income... </div></div>

By the way, the last bit of my advise is a lesson recently learned the hard way!

[Gen]

Re: Operating Your Own Business



<div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: dahJahPawtTwo</div><div class="ubbcode-body">alla de ansah dem weh unno a guh gi har </div></div>

[f0rTyLeGz]

Re: Operating Your Own Business

I agree.

I had my own business that I started in my home's kitchen, and ended up serving 80 restaurants... delivering to them each twice a week for 15 years. I made a bundle. It was great, but I had one vacation for one week in that 15 years. I was always completely involved.

The most important advice I can give is to keep perfect records. Get an accountant that you love. And most important, always keep your agreements.

Gary Vee has some up beat insights link to a book he wrote about entrapenurial bizness

[Nylah]

Re: Operating Your Own Business

<div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: f0rTyLeGz</div><div class="ubbcode-body">
The most important advice I can give is to keep perfect records. <span style="font-weight: bold">Get an accountant that you love</span>. </div></div>


Best Advice Yet

[f0rTyLeGz]

Re: Operating Your Own Business

<div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: Nylah</div><div class="ubbcode-body"><div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: f0rTyLeGz</div><div class="ubbcode-body">
The most important advice I can give is to keep perfect records. <span style="font-weight: bold">Get an accountant that you love</span>. </div></div>


Best Advice Yet </div></div>

Jess so you kno mi feh reel

[Nylah]

Re: Operating Your Own Business

<div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: f0rTyLeGz</div><div class="ubbcode-body"><div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: Nylah</div><div class="ubbcode-body"><div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: f0rTyLeGz</div><div class="ubbcode-body">
The most important advice I can give is to keep perfect records. <span style="font-weight: bold">Get an accountant that you love</span>. </div></div>


Best Advice Yet </div></div>

Jess so you kno mi feh reel </div></div>

I so am glad you said this cause it is important.

I would add to the book you posted above the The E-Myth Revisited by Michael Gerber Really good book for beginners.