Having talked about starting my businesses, perhaps you are thinking of starting your own. I will take it from the perspective of starting a bookstore, but you can apply it to any business you may be interested in. And if you wish to pursue this, visit my other business for more tips www.bizedquest.com - So here goes....
Why do you want to start a business? This is critical, because it attaches your passion to a tangible asset. There should be this kind of business in the area, I.e., bookstore. Anyone can start a business, why are you the one that needs that to come to fruition?
What kind of business? It can come from hobbies, interests, or even business you are currently a part of. I could run my own business so much better than this - or people are always seeking me out when they buy their goods- or I've developed quite a client base, I could do this so much better on my own - or it's time to take over the family business - or if I work on these courses, this degree, these experiences, I could set up my own shop - or I've just lost my job, this is a time to start something new.
The basic points that you need to answer are: what is the big idea?, what is your passion?, what is your experience, and what is your capital? The big idea doesn't have to be that big, but it does have to seek out a need and fill it - opening a bookstore in a rural area with limited resources and clientele could be a challenge, but the Internet/ e-commerce can solve that over the bricks and mortar stores (though I'm still partial to them, and your perspective customers may be too). What is your passion - how committed are you to this? If you have a pretty laid back personality, you may want to partner with someone who is not necessarily more emotional but more outwardly able to sell your concept, though you may be comfortable in presenting your ideas creating the vision in a calming manner. What is your experience - what have you done in this field that assure perspective investors and clients? Have you worked in this industry in any capacity, receive the certificates or degrees, picked up the training, and gained the knowledge and skill set to achieve. If you open a bookstore, you are trying to provide something that hasn't been done, or services that haven't been provided, or product that hasn't been available. If it's the same as others, there is a good chance it won't succeed (90% of new businesses fail in the first year, and 90% of those remaining fail in the next four years). Your passion to sell books will be on display. We all know the store with the employees who don't give you the time of day, but bookstores, among others are based on a passion for a particular commodity. Now it's your job to sell it, which is why you need the necessary experience, and yes, buying, reading and collecting books count, but it helps to work in a shop, or even sell your old books online. Finally, the issue that faces all, how do you get financed? If it's a unique big idea, and your passion and experience are demonstrated, funding should follow. Ask family and friends. Talk to perspective clients and investors. Several recent bookstore startups, which can work for other fields, are GoFundMe or Kickstarter and other crowdsourcing sites, allowing everyone to feel a part of the process and developing a relationship with the community.
The key is you! It is all about you and your commitment. And it's about everyone else. What do they want and how do you show them they have a need when they may not know themselves? There are great sources out there such as Small Business Administration, SCORE, local business incubators, and of course books. My favorites are Paul Hawken - Starting a Business and Dave Ramsey -Entreleadership, but there are so many great sources available and check my site for more. Good luck and good sales!
Start my own business? Not on your life. I admire those who do, and applaud those few who succeed, but both my parents were (in mum's case,still is) small business operators. They always struggled despite loving what they did/do...and I looked on and said, "Not for me. Thank you."
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