I am so fustrated right now, there is so much that i am trying to do and i dont know where to start. Ok well these are the things that i am trying to do. Launch my magazine, open a romamce store, open a resturant and produce movies and music videos. I just enrolled in AIC. taking up filming and production. I am not quite finished with my magazine and the store and resturant is still in planning mode. Thing is i dont know where to start. I am so stressed over this and i really need advice. My first thought was to open my store first and once profit reaches a good potential i could then start on my magazine, once that get off the ground i will have more money and hopefully time for my resturant and investment in a small film. What do you think? Please someone help me and another thing is i want all this before i am 32 i just turned twenty. I know its possible so please no negativity. YOUZA!
Pick something and see it start to finish. Then go to the next project/plan and see that one finished.
When you have too many things in the planning stages it can get overwhelming, just focus on one thing. It sounds like your magazine is the closest thing to being done, so finish it!
It will put things in perspective really quick once the weight is off your shoulders.
Good luck, you can totally do this, just do it one thing at a time, you'll see how quickly it will come together. You appear to have too many irons in the fire, Haas. You need to get focused, one project at a time, and if you're lucky, it won't bankrupt you.
Then move on to project 2 Go to http://www.score.org/ and in the upper left hand corner, enter your zip code. On the next screen, you will get information on the nearest SCORE chapter. Call them and arrange for a free meeting with a SCORE counselor.
SCORE is a nonprofit association dedicated to entrepreneur education and the formation, growth and success of small business nationwide. SCORE is a resource partner with the U.S. Small Business Administration (SBA).
SCORE has 389 chapters in locations throughout the United States and its territories, with 10,500 volunteers nationwide. Both working and retired executives and business owners donate time and expertise as business counselors. wow. sure i want to do all that much and more but in reality there isnt enough time given to accomplish all that especially if you expect it right this moment. if you launch a magizine whos going to write the articles, or romance store-whos going to provide the romance, whos going to cook the food, or produce the movies, or music. Other than that, you need to speak with lawyers, accountants, insurance companies, etc etc etc. your pretty much in for the money because after you accomplish all that, youll probably have to find something new to fill your time like an additional 5 busineses but thats not all, whos going to make sure your business is operating properly. at your rate, youll have to have every second of your life well managed, 1 second at the rest room, 1 second showers,maybe no sleep because you have 5 difference businesses and then another 5 businesses. sure if you manage to do all that yourself, youll have loads of money but no time to spend it. if you can get a game called capitalism 2 youll get to live your life- i had computer stores, retailers, car companies, manufacturing plants for cars, computer factories, mines, food marts spread accross several countries. I had farms, research facilities and all at the same time having to manage being profitable. Not an easy task, took me like 25 years of course. Dont be fooled by 25 year that Ive accomplished all that because the game doesnt account for the time it takes goods to the stores, and time to build the buildings. With time added, I would be like 150 years of age or something like that. There are other computer players involved so it make competition available. At the end, i had alot of cash but only luxury i could buy was a mansion. In real life, youll probably have to hire people to spend your cash because you dont have enough time to spend it yourself because you are too busy openning businesses. This is gonna sound smart but see a doctor. It sounds like your mind is racing and thatcan hazardous to your businesses you wanna create. Star one thing and make some mney to help start another and so on. Dont bite off more then you can chew, your just asking for more trouble then you want.
Go to www.score.org and inthe upper Either right or left hand corner you can enter your zipcode and get the nearest chapter. Make an appointment and tak to a counselor there.
Then I would apply for a grant to help pay for al of this. If all your ideas are launched you can have a nice little empire going there. You just have to approach it with very clear and concise thought.
Much Luck! I know its a lot of info, but I have prepared the following to help people make the right decisions when starting their own business. Good luck, Its great to work for yourself.
The 12 Most Common Mistakes New Entrepreneurs Make & How to Avoid Them
A large number of people who start their own business do not realize how much work and
time will be involved. They fail to carry out any primary research and as a result become
quickly overwhelmed.
Perhaps the first question to ask yourself then is whether you are in fact ready to start your
own business. Do you have an entrepreneurial mindset? Are you committed to spend all the
time you need to succeed? And are you ready to take massive action?
At first, you will have to wear many different hats; you will be the CEO, the general
manager, the accountant, the salesperson, the computer technician, the secretary, the
receptionist. You must therefore prepare yourself because there will be days when you are
disappointed, depressed, or frustrated. You have to realize that success will not happen
overnight. And it may take a year or two before you achieve your expected results.
To avoid these disappointments, here are The 12 Most Common Mistakes New
Entrepreneurs Make & How to Avoid Them:
Mistake # 1 - Failure to spend enough time researching the business idea
to see if it's viable
Numbers of new entrepreneurs have often failed because they were not truly interested in
the business; they were more interested in making money. It is important to start
something that you really like, because you will be spending a lot of time on it.
Your assignment Spend all the time you need working on your business plan, which should
include: your mission statement, your business strategy, research on your target market
(demographics), industry analysis (size, economics, trends, success factors, challenges,
etc.), your marketing plan, your financial projections and sales.
Mistake # 2 - Failure to determine whether the business actually adds
value
The most sustainable businesses, those that withstand the test of time, provide value by
performing a service that people need.
Your assignment Make sure your products or services provide value and benefit to your
clients. Be ready to solve any business problems that your clients may have.
Mistake # 3 - Failure to gain a complete and total understanding of the
business
Every business has drivers; hot buttons and key levers. What drivers exist in your business?
Many business leaders, executives and management consultants would say that success
largely depends on attention to detail.
Your assignment Understand all the aspects of your business, and of particular importance,
know how to present them in an easy and simple manner.
Mistake # 4 - Failure to describe the business in only one or two sentences
No doubt youve experienced the entrepreneur whose business is so technical or complex
that he cannot explain the concept in plain English. Or, it takes 20 minutes to convey the purpose of the business. What value or benefits does your business offer?
Your assignment Have an efficient 15 to 60 second elevator pitch that introduces you, your
business mission, focuses on the benefits you provide and makes you and your business
memorable.
Mistake # 5 - Failure to conduct the primary research
There are many great ideas you can latch on to, but the key in business is to make sure the
ideathe central theme or mission of your business venturecan attract customers and
generate sales and profits. A great idea in and of itself is not enough to start a business.
Your assignment Take the time to gain experience, study the business, understand what
makes the business work (how to serve the customers and generate profits) and what leads
to losses.
Mistake # 6 - Failure to contact professionals who can help you get started
Numbers of new entrepreneurs ask their friends and family for advice when starting a new
business. The problem is that they often ask people who have never started a business; so
in reality, these people are not in a position to offer sound advice.
Your assignment Get a mentor or two. Surround yourself with experts who possess skills
and expertise that you lack. Team up with professionals who can complement your
strengths and cover for your weaknesses.
Mistake # 7 Failure by underestimating financial requirements
Do you know how much capital you need to start your business? Do you know the market,
did you calculate your cost, did you project your sales, do you know the number of clients
you need? Do you know how long it will take before you get your first benefits or before you
will run out of money?
Your assignment Invest the time to work on ALL aspects, especially the major ones, of your
business before you start.
Mistake # 8 - Failure to make marketing a priority
Many new entrepreneurs start their business without determining their target, niche and
demography first and as a result have failed to attract any clients. Marketing should be one
of your top priorities. Devising a marketing plan will help you determine how to promote
your products or services and create a system that will generate more clients for your
business.
Your assignment Dedicate a good portion of your time and energy to working on and
implementing your marketing plan. Set up a meeting with yourself once a week to work on
your marketing plan and whatever happens never cancel this meeting; it is essential for
your business.
Mistake # 9 Failure by under-budgeting the marketing costs
Today the world is overcrowded with businesses and probably a number of those in your
market perform essentially the same functions as you do. This means that you have to
differentiate yourself from them by making your business stand out. Publicity is essential to your livelihood; otherwise you will not attract any customers.
Your assignment Make sure you have a strategy that puts the word out there. Provide
adequate publicity, business cards and marketing materials that project a professional
image. Dont try to save money on these; they are reflecting your business. A cheap
business card or flyer will not make a professional impact.
Mistake # 10 - Failure to focus on the business
Many new entrepreneurs are energetic and enthusiastic people (which is essential to
success), but they can also be overly optimistic and pursue too many targets and directions
at once. This typically results in mediocre results. Define your business mission as succinctly
and narrowly as possible. When you move in too many directions at once, especially in the
early days of your business, you are likely to fail to execute anything correctly; so you end
up working on the business instead of in the business. In other words, you will spend all
your time operating each task on your own. You wont have the time to sit back, and decide
on the best way to develop your own marketing plan, create new products, or improve your
services.
Your assignment Know you goals. Put them in writing. Make sure they are realistic, specific
and measurable and that you set yourself a deadline to achieve them.
Mistake # 11 - Failure by over-marketing
Once you have developed your product or service and have perfected your offering, you
may think that your offering is the best in your marketplace. But unfortunately, to be
efficient you cant sell to everyone. You need to select a specific target market and stick to
it. By doing this you will have a more efficient message and will more likely achieve success
much sooner.
Your assignment Carefully determine your niche, your demography, your ideal clients,
where they go, what they read, what their hobbies are, etc. Once you have a full
understanding of your clients profile you will then have a full understanding of how and
where to find more of them.
Mistake # 12 - Failure to follow-up with clients
Many new entrepreneurs are often so desperate to constantly find new clients that they
neglect the clients they already have and in fact end up losing business. Statistics show that
it takes seven more interactions to secure a new client than to sell more to a repeated
client. So develop and maintain a useful and organized follow-up system to offer new
services to your clients and dont let them slip away.
Your assignment Constantly and consistently communicate with your current clients.
Start a newsletter, offer special sales, create new products to upsell, join affiliate programs
if you dont have your own products. People who have already bought from you will
appreciate it when you recommend other products. Statistics show that up to one out of
three clients will take advantage of this new offer. It is essential to build a very, very special relationship with your clients. They are your best audience.
10 steps to start new business:
- What is your business plan
2- what is your financial backing
3- Rent or own the building
4- regulations and licencing - taxes and insurance
5- equipment ? computers, machines, etc
6- do you understand your customers wants and needs- how will you meet those wants/needs
7- location location, will the area sustain your business- is their room to grow?
8- advertising plan: to whom, where, what, when, how, cost
9- hours of operation - will you be open when your customers want/need you
10-Taxes- how much will you be paying? |
