need small business start up advice..

[pbotz]

looking to open a small business in maybe the wardorf area. Looking for some guidance on where to start or who to seek for assistance. I did buy a few books which are in transit, and also was suggested to local college small business classes which are not avail till next year.

Id like to get some feedback or advice on this. Even if i can find someone to pay or hire to sort of pilot this thru to get the ball rolling.

I dont have any business experience so this is all the beginnings of me learning.
thanks

 

[SoMDGirl42]

looking to open a small business in maybe the wardorf area. Looking for some guidance on where to start or who to seek for assistance. I did buy a few books which are in transit, and also was suggested to local college small business classes which are not avail till next year.

Id like to get some feedback or advice on this. Even if i can find someone to pay or hire to sort of pilot this thru to get the ball rolling.

I dont have any business experience so this is all the beginnings of me learning.
thanks

you have no experience and don't know what kind of small business you are going to open and don't know how to open a business? Sounds like our government to me! Are you Obama?

 

[pbotz]

good one.
However id perfer constructive critism or valuable advice. I did not say i dont know what type of business to open i just left that detail out.
Im a worker bee and dont have any real business experience, education or training.

The obama statment also brings up a good point though. How will his wonderful plans affect small business owners, such as tax credits and govt benefits.

 

[jazz lady]

Small Business Development, Seminars and Financial - Maryland SBTDC Southern Region

The SBTDC is dedicated to assisting small businesses start, grow and be profitable. Our services include the following:

•business plan assistance
•market analysis and research
•sources of capital
•specialized services for Retail, Restaurants, Construction, Technology and Contracting
•managerial and technical support

You will receive sound advice from professional staff and, if necessary, referral to industry experts or other business consultants. The SBTDC has offices located in Calvert, Charles and St. Mary’s Counties where you can receive professional and confidential assistance for your business.

 

[jazz lady]

SCORE 390

SCORE is a nonprofit association dedicated to entrepreneur education and the formation, growth and success of small business nationwide. It is a group of both working and retired executives and business owners who donate their time and expertise as business mentors. SCORE was formed in 1964 and there are now about 13,000 volunteers in 364 chapters throughout the country. SCORE operates under the sponsorship of the U.S. Small Business Administration and in cooperation with a variety of local institutions. This year SCORE, "For the Life of Your Business", celebrates 45 years of service to the small business community.

SCORE Chapter #390 in Southern Maryland has about 40 talented members with entrepreneurial experience; many mentor, are resources/presenters for our workshops, and others assist the chapter with their administrative talents. We offer free, confidential mentoring and conduct general and specialized workshops for which there are nominal charges. We provide such services to clients in Anne Arundel, Calvert, Charles, and St. Mary's counties.

 

[jazz lady]

Choose Maryland | Maryland Department of Business & Economic Development

Start a Business

Starting and maintaining a business can be a challenge. This section contains information about starting your business, counseling and advice, access to capital, and registration and permitting requirements.

 

[Beta]

good one.
However id perfer constructive critism or valuable advice. I did not say i dont know what type of business to open i just left that detail out.
Im a worker bee and dont have any real business experience, education or training.

The obama statment also brings up a good point though. How will his wonderful plans affect small business owners, such as tax credits and govt benefits.

Here's some constructive criticism: make sure you don't have any misspellings in your store. Use a word editor. I see spelling isn't your strong suit.

Good luck...small businesses are very difficult to run these days -- most recent law changes seem to be hurting them -- and the chances of failing in the first year, BEFORE those changes, were supposedly 90%...and that includes people who actually know what they're doing.

 

[black dog]

SCORE 390

I used Score many years ago and received excellent advice.

 

[jazz lady]

Small Business Development Centers (SBDCs) | SBA.gov

Small Business Development Centers (SBDCs) provide a vast array of technical assistance to small businesses and aspiring entrepreneurs. By supporting business growth, sustainability and enhancing the creation of new businesses entities, SBDCs foster local and regional economic development through job creation and retention. As a result of the no cost, extensive, one-on-one, long-term professional business advising, low-cost training and other specialized services SBDC clients receive, the program remains one of the nation’s largest small business assistance programs in the federal government . The SBDCs are made up of a unique collaboration of SBA federal funds, state and local governments, and private sector resources.

 

[jazz lady]

looking to open a small business in maybe the wardorf area. Looking for some guidance on where to start or who to seek for assistance. I did buy a few books which are in transit, and also was suggested to local college small business classes which are not avail till next year.

Id like to get some feedback or advice on this. Even if i can find someone to pay or hire to sort of pilot this thru to get the ball rolling.

I dont have any business experience so this is all the beginnings of me learning.
thanks

I personally wouldn't waste my time on local "seminars" and such. IMHO, they are a waste of time and money.

I've posted links to several great resources that are free and offer tons of advice. Don't be shy about asking for help as your business will never get off the ground that way. Network with folks that have been there and done that, and are more than happy to guide you through the process. They WANT you to succeed and can give you invaluable insight through their collective years of experience.

Good luck!

 

[black dog]

Here's some constructive criticism: make sure you don't have any misspellings in your store. Use a word editor. I see spelling isn't your strong suit.

Good luck...small businesses are very difficult to run these days -- most recent law changes seem to be hurting them -- and the chances of failing in the first year, BEFORE those changes, were supposedly 90%...and that includes people who actually know what they're doing.

John D Rockefeller
Left school at sixteen. ( Billionaire )

Steve Jobs
Adopted and never finished College

Henry Ford
Limited formal education

Abe Lincoln
Self taught including Law School

Guts and Backbone is what gets you there.
Misspelling and Education don't mean a lot.
Go forth and make your mark, To the negative nanny's here
Pound Sand.

 

[vraiblonde]

Guts and Backbone is what gets you there.
Misspelling and Education don't mean a lot.
Go forth and make your mark, To the negative nanny's here
Pound Sand.

Couldn'ta said it better.

As far as SCORE and SBA, etc: those who can, do; those who can't, teach. If you need startup capital, they're great to point you in the right direction. But they do not know your specific business category and will not be able to advise you in that direction.

You need an accountant to advise you as to the best business entity for your situation (LLC, S-Corp, etc) and help set up your books, and a lawyer to incorporate you correctly in the state of MD. This is your best initial investment; do not try to wing it and do it yourself. The IRS is not to be trifled with nor do you want to be overtaxed.

It is true that a majority of small businesses fail BUT you gain invaluable experience for the next time. Or you learn that entrepreneurship is not for you. There is no real downside to starting your own small business.

Good luck and give 'em hell!

 

[tommyjo]

looking to open a small business in maybe the wardorf area. Looking for some guidance on where to start or who to seek for assistance. I did buy a few books which are in transit, and also was suggested to local college small business classes which are not avail till next year.

Id like to get some feedback or advice on this. Even if i can find someone to pay or hire to sort of pilot this thru to get the ball rolling.

I dont have any business experience so this is all the beginnings of me learning.
thanks

You could also contact your local chamber of commerce. Make sure you contact your state government or county government business development center as well.

 

[ProfMoneyWise]

EntreLeadership

Entreleadership by Dave Ramsey

Do not use debt to start your business.

 

[vraiblonde]

EntreLeadership

Entreleadership by Dave Ramsey

Do not use debt to start your business.

Except that if people didn't use debt to start their business, there would be very few small businesses in this country. If you are a service, there is no (or very little) start-up cost. But if you have to buy or rent a building, purchase inventory, office needs, pay employees, etc, you will most likely have to take out a business loan to get you started.

 

[Scoops]

Guts and Backbone is what gets you there.
Misspelling and Education don't mean a lot.
Go forth and make your mark, To the negative nanny's here
Pound Sand.

Right on!!

I started my business almost 8 years ago with a 100 free business cards, a little networking and a $10 monthly ad on this site.

Do your research, lay out a plan, keep good records and go for it!

 

[ftcret]

John D Rockefeller
Left school at sixteen. ( Billionaire )

Steve Jobs
Adopted and never finished College

Henry Ford
Limited formal education

Abe Lincoln
Self taught including Law School

Guts and Backbone is what gets you there.
Misspelling and Education don't mean a lot.
Go forth and make your mark, To the negative nanny's here
Pound Sand.

Abe Lincoln? What was his business again? Law? phhhhttt!
Jobs was adopted? SFW, he was intelligent as was Ford and Rockefeller.

Do not confuse intelligence with Formal Education.

If you cannot present your ideas or communicate in a manner which implies you have taken the time to learn the correct spelling and have taken enough care to ensure you use it, you look as if you are incompetent, lackadaisical and otherwise not intelligent. You want me to loan you money? You want me to trust you are dilligent in providing me good, reliable service or products? Than mak shir you're wrods is lookin goodly, are i mite knot knoe yore buisnes wil mak it four a wyle. And that wood b two bad.

 

[Beta]

John D Rockefeller
Left school at sixteen. ( Billionaire )

Steve Jobs
Adopted and never finished College

Henry Ford
Limited formal education

Abe Lincoln
Self taught including Law School

Guts and Backbone is what gets you there.
Misspelling and Education don't mean a lot.
Go forth and make your mark, To the negative nanny's here
Pound Sand.

Geez, why don't you add Bill Gates while you're at it? Because those things happen allll the time!

You realize most of those guys are geniuses, right? They also knew exactly what they wanted to do and had a good business plan without needing to read books. For every example you give there, there are probably hundreds of thousands of failure stories, including a lot that start "I want to start a business but I have no clue what I'm doing." All I said was "be careful" and not tell someone they're the next billionaire and shove em over the cliff. Speaking of which, why don't you start your own business? You'd be perfect!

The reason I mentioned mispellings is because a lot of people find it unprofessional and a turn off. If I'm shopping somewhere and a business screws up on signs or can't even spell their merchandise, I'm not sure I'd be comfortable with their knowledge on the subject that they're supposedly an expert at. So I'd leave before even engaging with the shop owner and take my business elsewhere. Long story short: Why risk it? Professionalism goes a long way.

Except that if people didn't use debt to start their business, there would be very few small businesses in this country. If you are a service, there is no (or very little) start-up cost. But if you have to buy or rent a building, purchase inventory, office needs, pay employees, etc, you will most likely have to take out a business loan to get you started.

Exactly. Hell, I've heard most millionaires have filed bankruptcy on average 3 times. I think Trump's companies filed 4 times, for example. Almost nobody can just afford to start their own business these days, it's just too expensive. And there are plenty of failures, but if you figure things out and know how to work the system, you can get through it and excel.

 

[ProfMoneyWise]

Except that if people didn't use debt to start their business, there would be very few small businesses in this country. If you are a service, there is no (or very little) start-up cost. But if you have to buy or rent a building, purchase inventory, office needs, pay employees, etc, you will most likely have to take out a business loan to get you started.

How to Run a Business Debt-Free - daveramsey.com

Most small businesses start with $5K or less. I say save up the $5K.

My belief is your personal (or business) finances are only as big as what you really have. I don't do "net" I do "worth." The net really does not mean much to me in my thinking.

USATODAY.com - Companies with no debt fly high

15 Companies With Zero Debt

What stands out to me is the companies that sell debt (Amex, MasterCard) have no debt. That should tell us something.

Harley used to be on this list but I believe they went into debt recently and references to Apple may be out dated also.

In the end there are two ways to do this. One you mention and the other I champion. If asked anyone would know what I would recommend.

Good debate.

 

[tipsymcgee]

If you talk to SBAs or banks they may tell you to go to a local seminar. Unfortunately in this area these seminars are 95 percent geared towards government contracting and the like. I wasted four hours at one once. A small business is often what you are willing to put into it, and also what you're going to be happy getting from it. Going into debt is okay if you're really going to stick with it for five plus years and give it a shot. If you're unsure and can't handle not making money in year one or two, don't borrow.