I know there is google, but I want to hear it firsthand from experienced orgers. I've sort of figured out what to do, but have no clue about how to operate a business, and whether getting a loan is worth it or not to continue training and buying materials, and whether I can get a successful clientele or not. Thinking about promoting sounds fun actually, but it's about what takes place during consultation, pricing, licensing, contracts/agreements, and all that I know nothing about.

Sometimes I think I will be told it's another one of my stupid ideas cause I have so many in general, but if I don't do this now, I never will and although I have a stable job, I suffer from a lot of anxiety there and it's because I feel incomplete with only being limited to doing that, like I have nothing else I am passionate about.

[Edited 6/18/12 12:26pm]

i can relate to alot of what you have said .

I was in business back in 1996 - totally horrible idea with 2 other partners.

I swore I would never do it again . (with partners) .

Unfortunately ... on or about 2002-2004 , I should have done another business - after the economic mess I had no money to do it ...

Am feeling like I really missed out on the chance - we will see . I have researched a new business for years now - talking to others in the business (just in other locations) and getting "feelers" about the good stuff and bad stuff (accounting , legal issues etc).

So i feel I am constantly learning ... but ... I still at this point - just have a dream .

Only one way to do it right Alpha - Research and Education. Once you understand ALL the fundamentals of a business, especially finance, legal, sales and marketing, purchasing, budgeting... Know your competition if there is any. Plan a projection. 1 year, 5 years, 10 years. Understand that it may in fact take U five years to see a steady flow of clients and real profit. It takes dedication and round the clock attention. You can do it if you really want it, anybody can if they have all the tools - but you must set up the building blocks around a secure structure. Mine lasted 30 years and although it was mega fun, it demands everything you have and more. If you don't have the knowledge, take a business course and get it. What's a year out of your life learning these skills if it can afford you a lifetime of income doing something that you want to do. Believe in yourself.

alphastreet said:

I know there is google, but I want to hear it firsthand from experienced orgers. I've sort of figured out what to do, but have no clue about how to operate a business, and whether getting a loan is worth it or not to continue training and buying materials, and whether I can get a successful clientele or not. Thinking about promoting sounds fun actually, but it's about what takes place during consultation, pricing, licensing, contracts/agreements, and all that I know nothing about.

Sometimes I think I will be told it's another one of my stupid ideas cause I have so many in general, but if I don't do this now, I never will and although I have a stable job, I suffer from a lot of anxiety there and it's because I feel incomplete with only being limited to doing that, like I have nothing else I am passionate about.

[Edited 6/18/12 12:26pm]

What type of business are you interested in starting? Are you incorporating or wanting to work as an independent contractor? All occupations don't operate the same in terms of day to day office and business management, although Red has the essential fundamentals down, often in creative fields it may work out better for you to intern or apprentice under an established entity first before striking out on your own; the experience is invaluable in that you learn management, financial aspects, marketing and production all in one fell swoop by being thrown right into the middle of the work in real time, with real results you can take a lot from.

a good place to begin looking at types of business entities will be your State's Secretary of State website. if your State is like Minnesota, you will likely find document there which you can fill out and return with fees to establish your business. good luck!

I'm not the US though, but I'll look into something like that here.

The best factor in deciding whether or not to start your own business is to evaluate whether you already more than one year's worth of demand for the service that would pay you cash even if you were just a freelance or doing it on your own on the side.

In other words if I was a graphic designer thinking about starting my own business with partners or an employee, I would first check to make sure I had planned or promised income for over a year that would at least meet the cost of the business and the living expenses of everyone involved.

The way to make a small fortune in a business like this is to start with a large one

I've been in business since 1997, but my income from this was always just pocket money in addition to a full-time job and more recent years my partner's full time job. Now that we are both just living from our freelance/own businesses for the first time, this will be interesting. I've just applied for all the household assistance thingies our government is handing out atm - just in case.

ZombieKitten said:

The way to make a small fortune in a business like this is to start with a large one

I've been in business since 1997, but my income from this was always just pocket money in addition to a full-time job and more recent years my partner's full time job. Now that we are both just living from our freelance/own businesses for the first time, this will be interesting. I've just applied for all the household assistance thingies our government is handing out atm - just in case.

you two are the cooliest. i admire that you've achieved this

XxAxX said:

ZombieKitten said:

The way to make a small fortune in a business like this is to start with a large one

I've been in business since 1997, but my income from this was always just pocket money in addition to a full-time job and more recent years my partner's full time job. Now that we are both just living from our freelance/own businesses for the first time, this will be interesting. I've just applied for all the household assistance thingies our government is handing out atm - just in case.

you two are the cooliest. i admire that you've achieved this

I think it's a lot of luck - we bought our house BEFORE prices went crazy, we chose a variable interest rate, which amazingly enough didn't really vary so much in the time we paid it off (other people we know locked into a higher rate, and have paid a LOT more over the years) but if we'd had bad luck like my dad did in the 80s - he was paying off 3 properties when the interest rate shot up to 18% - we would have been in trouble

It helps we are both complete misers

My line of work is something I've always been able to continue to do even as stay at home mum, I have clients in other countries lol, I can work in my PJs if I have to. The master works weekends and the rest of the week is home with me!

That's amazing you have clients in other countries. I had a huge business idea for it, but narrowed it down, because of other commitments and keeping my health in mind and how much I can handle.