I want to start a business (any business), any books for reference?

[Premm]

I'm planning to start a business. The business hasn't been decided... I want to know what it takes to start a new firm, like what are the problems am gonna face and all. Any book to help me out? Help appreciated.....

[cafolini]

I'm planning to start a business. The business hasn't been decided... I want to know what it takes to start a new firm, like what are the problems am gonna face and all. Any book to help me out? Help appreciated.....

Find something nobody is doing. ~ Michael Dell

[Premm]

Find something nobody is doing. ~ Michael Dell
Thank you so much. Will definitely see it.....

[JoanneGross]

First i need to appreciate you for starting a self business. for starting a business you need to take maximum effort for getting success in the business. if you are confused with the field that you need to take for the business, i would like to suggest you the business of cosmetic products. that have a great market in the modern world. If you are not interested with that, you can search in the web for getting the advice for starting a new firm. So i wish you all the success for starting the business and i hope you will win in this game..

[Delta40]

Whatever country you live in, go onto your government tax website and check out the tax obligations and also any concession entitlements for business. They may also have further info which is helpful such as good record keeping.

[tonywalt]

One of the problems will be competition. You want to eliminate all competition - it's just how things are done - and it's great fun. If you PM me I will give you some very helpful and arguably legal ways to achieve such a goal.

Secondly, you want to rapidly (I'd say about 3 months) evolve the business to a point where you don't have to go into work, instead calling from the pool to check on things or perhaps calling from a hot air balloon flying over a Kenyan wildlife preserve, "I can see the entire migration of the wildebeest from up here, it's amazing! How are my profits?-Remember to keep profits high. Don't forget to wire my Nairobi office a million dollars for spending whilst I'm here! God, it must suck to be in a cubicle, Ya know what - I'm gonna get you a bigger cubicle if I ever get your way!"

Although these are only two ideas, I do hope I have inspired someone.

[osho]

My suggestion is nothing will pay more than dedication and why most businesses end up in failures is the lack of perseverance. Sustainability and perseverance are two crucial things you need to keep in mind. You must not be dragged by small hassles. Business is a stake and you are not prepared to give your hundred percent do not linger here. One has to do a lot of compromises with the rest of things to excel at what you do, my friend

[cafolini]

Whatever country you live in, go onto your government tax website and check out the tax obligations and also any concession entitlements for business. They may also have further info which is helpful such as good record keeping.

Excellent advice, a-priori.

[LitNetIsGreat]

I've been wanting to start a mobile coffee business from one of those converted cars. However, whenever I mention the subject to those around me they either grin or laugh or just ignore me! Of course at the moment I have several barriers to this, financial and lack of car licence, but just like the idea of driving out in the country selling coffee.

[cafolini]

I hope you catch this on how to start the business
1. Find something nobody is doing in order to start without competition.
2. Follow Delta’s advice regarding tax structures, benefits and record keeping.
3. Start asking What Ifs and What If nots until you feel absolutely confortable. But, what do I mean by confortable? I could be confortable sunbathing next to a swimming pool. This hard work. You must eliminate the possibility of competition by understanding you business plans so well that you will be lightyears ahead of any potential copycat. By the time you start your business, all potential competition should be so primitive and so far behind that they could never catch up before you eat that market, that niche. It is a time of niches.
4. You’ll most likely need a good, trustworthy accountant. You can guide, but you cannot, I repeat, you cannot do it all alone. Teamwork is of the essence.
5. When you hire people, find daring individuals that are willing to work for shares apart from small surviving cash. Train them, respect them, give them all you know. You need to train them to be trainers as your business grows. Stay away from reactionary people. Remember, you cannot do it all alone.

[Emil Miller]

Follow the suggestions already given but probably the most important thing to do is not to become victim to megalomania if you are successful.
There is absolutely no point in working yourself into an early grave and leaving your money to somebody else; especially as governments seem to have a cunning ability to relieve deceased business people of a large part of their fortune through death duties or similar legal contrivances.

In short:

1. Make your money.

2. Don't allow the business to take you over.

3. Once you are rich enough to do so, GET THE HELL OUT OF IT AND START LIVING.

[LitNetIsGreat]

Some good advice but a new idea just virtually doesn't exist any more. Think of something obscure and google it and you will find that there are threads on it from 2007! You have been beaten to it years ago. The idea that someone in their bedroom is going to come up with something unique and beat all of the competition - the multi corporations etc - is extremely far fetched to put it mildly, bordering on ridiculous. The only way in is to look for areas with something lacking and try to do it better. For example if you wanted to go into gardening or window cleaning a little research into where there is a gap for business and try to do the same thing but better/cheaper. That's the only way in. You are not going to invent something unique and beat Mircosoft or McDonalds to the marketplace with it, zero chance.

[cafolini]

Some good advice but a new idea just virtually doesn't exist any more. Think of something obscure and google it and you will find that there are threads on it from 2007! You have been beaten to it years ago. The idea that someone in their bedroom is going to come up with something unique and beat all of the competition - the multi corporations etc - is extremely far fetched to put it mildly, bordering on ridiculous. The only way in is to look for areas with something lacking and try to do it better. For example if you wanted to go into gardening or window cleaning a little research into where there is a gap for business and try to do the same thing but better/cheaper. That's the only way in. You are not going to invent something unique and beat Mircosoft or McDonalds to the marketplace with it, zero chance.

If you are not going to do it as I outlined, you might as well be a follower and do it like I said under the rules of someone who has the ability to do it properly. You cannot do it alone. It is impossible. Take heed and do appropriately.

[LitNetIsGreat]

Cafolini, I'm not talking about doing it alone, your other points made sense but your first one is just about hopeless:


1. Find something nobody is doing in order to start without competition.


You must eliminate the possibility of competition by understanding you business plans so well that you will be lightyears ahead of any potential copycat. By the time you start your business, all potential competition should be so primitive and so far behind that they could never catch up before you eat that market, that niche

See my previous post for the reasons why.

[cafolini]

Cafolini, I'm not talking about doing it alone, your other points made sense but your first one is just about hopeless:





See my previous post for the reasons why.

You have absolutely no worthwhile influence on whatever anyone might pick up from this thread. Case closed.

[LitNetIsGreat]

You have absolutely no worthwhile influence on whatever anyone might pick up from this thread. Case closed.

Well that's one of your usual cryptic replies, but it's not my advice that is about 50 years out of date. As if one man in a little start up business is going to out muscle the big multinational corporations to market place with a new product, come on.

[Delta40]

Good advice Emil. It reminds me of a story I read just recently:

An American tourist was at the pier of a small coastal Mexican village when a small boat with just one fisherman docked.

Inside the small boat were several large yellowfin tuna. The tourist complimented the Mexican on the quality of his fish and asked how long it took to catch them.

The Mexican replied, "Only a little while."

The tourist then asked, "Why didn't you stay out longer and catch more fish?"

The Mexican said, "With this I have more than enough to support my family's needs."

The tourist then asked, "But what do you do with the rest of your time?"

The Mexican fisherman said, "I sleep late, fish a little, play with my children, take siesta with my wife, Maria, stroll into the village each evening where I sip wine and play guitar with my amigos, I have a full and busy life."

The tourist scoffed, " I can help you. You should spend more time fishing; and with the proceeds, buy a bigger boat. With the proceeds from the bigger boat you could buy several boats. Eventually you would have a fleet of fishing boats. Instead of selling your catch to a middleman you would sell directly to the processor; eventually opening your own cannery. You would control the product, processing and distribution. You could leave this small coastal fishing village and move to Mexico City, then Los Angeles and eventually New York where you could run your ever-expanding enterprise."

The Mexican fisherman asked, "But, how long will this all take?"

The tourist replied, "15 to 20 years."

"But what then?" asked the Mexican.

The tourist laughed and said, "That's the best part. When the time is right you would sell your company stock to the public and become very rich, you would make millions."

"Millions?...Then what?"

The American said, "Then you would retire. Move to a small coastal fishing village where you would sleep late, fish a little, play with your kids, take siesta with your wife, stroll to the village in the evenings where you could sip wine and play your guitar with your amigos."
__________________

[Emil Miller]

Good advice Emil. It reminds me of a story I read just recently:

:lol:

It's so true. Whenever I read about the richest man in the world, of whom there seem to be many according to which newspaper I happen to be reading, it always reminds me of the weary and disillusioned chairman of the board in Citizen Kane when he says : "There's no trick to making a lot of money if all you want to do is make a lot of money."