What exactly do you need to start a business

[phummy]

What exactly do you need to start a business

With my little experience, i think all you need is an idea - business idea that solves a problem.

Please i need to know more about this.

[ltrahan]

Hi phummy,

A good idea certainly helps, but it's just the beginning. I have no idea what the legal requirements of having a business in Nigeria would be.

I will say that the next step is to start to investigate your idea a little further. For example, what is the revenue model, how big is the market, who are the competition, etc, etc. I don't know all the questions to ask but I am sure someone else in this forum can probably list a few more.

If I were you I would find some kind of business plan template and use it as a guide for the types of questions you might want to ask. After doing the right amount of research and planning you should know if your idea is feasible or not and, more importantly, whether or not you are interested in pursuing it as a business.

Download a free template from Evan's site by following this link:
http://www.evancarmichael.com/free/free ... gCheckList

[Karmela]

Does anyone know where I can get information on starting an importing exporting business?

-K

[Evan]

I like the new picture Louis

We have posted a Free Business Plan Template that you can check out phummy.

Where are you located Karmela? What are you looking to import / export?

[ltrahan]

Hi phummy,

I just came across this article that helps you think through the process of owning your own business. I also has links to other articles you might be interested in.

http://sbinfocanada.about.com/cs/startu ... ownbiz.htm

[myownboss]

go get a customer! you can have a great idea but if you don't have a customer you'll never be successful. Build a product / service around someone who will pay you for what you can offer! It's the best way to build a business.

[ltrahan]

Karmela,

I just came across this site:

http://www.importexportcoach.com/links_resources.htm

I think it is mostly USA based but there are international links, hopefully you can find some information there.

[BigJim22]

It seems like they're just trying to sell products Louis - what section do you find useful? Maybe I went to the wrong place - was at business plans...

[jvprosperity]

Here are some other sites that have valuable informaiton:

Exporting: http://exportsource.ca/gol/exportsource ... 01868.html

Importing and exporting:
see under section - Other organizations that can provide valuable information
http://www.iecanada.com/starting.html

Andy D'Silva

[ltrahan]

Hi BigJim,

I didn't go into too much detail on the last link, had clicked on the market research tools and the training links. There seemed to be links to a lot of different resources.

[BigJim22]

Thanks Louis - I will continue browsing around!

[Stefanie]

Here's a great resource from the Canada-Ontario Business Service Centre. They've got step-by-step guides to both importing and exporting, as well as a handy online database of Canadian importers, and links to many more resources.

http://www.cbsc.org/servlet/ContentServ ... upplements

[BigJim22]

Thanks Stefanie - very useful info!

[askpatty]

Since blogs began a few years ago, bloggers have found a number of money-making opportunities. Blogs help you build relationships with your customers, they can also lead to direct money-making opportunities. As more time passes, even more revenue streams are expected emerge.

According to Technorati, the premier blog search engine, there are 39 million blogs in existence with 75,000 new ones being created each day. A blog, or weblog, differs from your company website in that it helps you build trust by establishing a 2-way relationship with your readers. A static website is like an online brochure, but a blog site is more like a conversation with potential customers. If you want to connect with your potential customers in a more personal way, a blog helps you accomplish just that.

Right now, the two best ways to make money from your blogging efforts are: 1) from your profile and perceived expertise, and (2) from the blog itself.

This is a very cost effective way to start a business based on your area of expertise.

Go to www.typeapad.com to start building your blog!

[michele52]

With my little experience, i think all you need is an idea - business idea that solves a problem.

An idea is a good start. So is going into business with your eyes wide open, and not believing the oft-heard refrains, "Be your own boss"; Make your own hours"; "Make lots of money!"

The truth is that you'll give up one boss and gain hundreds (your customers); you'll make your own hours (working all 24 of 'em sometimes); and you will make money, eventually, but it takes years.

I'd recommend starting a business in a field you already know, and that already has a demonstrated large market. You can make a name for yourself by offering a service in a new, better, more creative way than others may be doing. Then, if you listen carefully to EVERYTHING your customers say, they'll tell you everything you need to know to succeed.

Yes, we've all heard about that guy Bill, and a few others who changed the world, but for the rest of us, it's a HUGE risk to go into business with an entirely new idea, hoping to teach the world something it doesn't know. Opening any business is risky enough. Save that one for the day when you're bored with your current, successful business, have money to burn, and will be able to laugh when the world doesn't jump on board.