Starting it is simple, sustaining it is hard... 1." Cash flow" is king in business. 2. Planning is everything before beginning ... Walking out that plan is crucial. 3. Your question lacks details.. So as a result , so will my answer. 4. In short the product/ service must be marketable , advertising and building a foundation in relationships is the businesses "life blood" 5. And remember "location, location, location. 6. Most "good" businesses fail from having a bad location, bad product/service and/or a lack of cash flow.
Most people will fail if they don't do the proper homework first. competition is an obstacle, finding good help can also be one. Economical climate is an obstacle. My father always says " you don't open a fancy restaurant in a meat and potatoes neighborhood." He is right. If you want to make money, you have to appeal to your surrounding environment.
Be prepared as it often takes time and lots of effort to get started and to make money. Six months at least of not even breaking even is not unusual. Be prepared financially and psychologically. Your family will need to whole heatedly be behind you as you may not see them as often for a while- or more. Location, location, location. What other businesses have been in your building or in the area. Have they been successful or not and why? Whatever business you will need to be comfortable meeting the public and always have a positive demeanor in your business and out in the community. Word spreads. Be very knowledgeable in whatever business you open and hire people wanting to learn or that have had their own successes. Good luck!
1 year ago
Last edited at 12:54AM on 9/18/2012
all of the answers are good. however, why do you wish to go into business now? do you have any experience in the arena you are thinking of going into? have you a sound business plan? in my opinion your biggest obstacle will be your lack of due diligence. just as it has been stressed, understand what you are going to do, know when you will be able to do it, know how you are going to do it, know where you are going to do it, and be able to redirect yourself if you find that you miscalculated anything. when something works make sure it becomes part of the plan. and go to barnesandnoble.com and order; BASIC STEPS FOR STARTING A NEW BUSINESS. $8.95 a good starting point. hope that helps. and good luck to you and yours!