What kind of Entrepreneur could you be?

A few weeks ago , I came across a flyer with the the title. "What type of entrepreneur could you be.?". It was a free course being held in my town (lunch, tea and coffee also free:up. So i decided to go along, I'm out of work at the moment, so had the time and was interested in the idea of maybe setting up my own business, rather than rejoining the rat race.

It was a very enlightening course and I met some very interesting people. Took some business cards and exchanged numbers.

Most people had some idea of what type of business they intended on setting up. From wedding planners, auctioneers and independent record label owners. We explored everyones idea and how one could actually make a business from these ideas. The discussion brought up some interesting ideas no one had thought of before for each case. It was a great way of exploring ideas with others who also share a similar desire.

I didn't really have an idea, the promise of a free lunch was enough. But, I remembered that once I thought about setting up a healthy fast food stall. Serving pitta bread pockets filled with healthy fillings. I was going to call it "you gotta pitta pocket" (Oliver Twist reference). I think the problem I discovered today is that food is not really my passion and if you dont have a passion it's going to make it difficult to pursue such a business.

So I am back to the drawing board for my business idea. But the course has stimulated me to think harder about what I could possibly do.

Anyway, if you are an entrepreneur, what is your business? Why did you choose this business and how did you make money from it.

If you are a budding entrepreneur, what would your business be? Why would you choose that business and how would you make money from the business?

My wife and I have been lucky enough to weather these hard economic times fairly well, we struggle but we are on the verge of major shift in our lifestyle.

We are freeing up much liquidity in our assets and are looking to start a business.

The things I have researched and looked into range from basic retail, to more creative ideas.

The one thing I keep seeing is do something you love and are passionate about, which for us leaves something with several options.

I was thinking of a small cellphone reseller and PC repair shop, as I have extensive experience in computer repair and Sales.

My wife wants to pursue her photography full time, and is already successful as a hobbyist in it.

Next we both like cooking, we have discussed maybe combining all into a Specialty, Like a bed and breakfast that caters to younger Techie professionals.

reply to post by woodwardjnr

Entrepreneurship eh, a way to loosen the shackles a bit. Good to hear of your experience and thanks for sharing.

If you are a budding entrepreneur, what would your business be? Why would you choose that business and how would you make money from the business?

I am planning on moving to Austin soon and have been researching commercial/residential window cleaning. Low overhead, high demand, autonomy and not too laborious. I got the idea from a cleaner here in Oregon that makes 40-55 grand a year and only works 8 months a year. He said once you get your technique down, you can really sail through each job, efficiently, but still with quality. In the Texas heat, I will appreciate being able to work my own hours in the morning, late afternoon and evenings. It seems there is not only a niche for jobs needed, but also for jobs with current cleaners. There is a significant amount of dissatisfaction with clients because of lackadaisical efforts by some cleaners, who do not present themselves well, follow up and/or communicate well and in a timely manner.

Now, in a fantasy set up, where I had a lot of startup cash, I had an idea pertaining to obesity and lack of exercise with kids here in the US. Just like adult gyms, I think an after school 'gym for kids' may be a good idea, and they can sign up for membership. They can't get enough exercise at school and are to preoccupied at home so often, so I thought parents would support the idea of having a place for kids to expend some energy as well as learn about nutrition and exercise. Plus it would be a place for kids to go after school until their parents got off of work 5-6 ish. It would have multiple programs and an emphasis on fun and communion.

Peace,
spec

reply to post by speculativeoptimist

commercial/residential window cleaning.

My best friend growing up started his own, He has several contracts with hotels and such in the Orange County area of Ca.

hes very successful, even offered me a job. But Id rather not dangle from ropes outside a building Lol, good work though if you can tolerate the heights.

reply to post by woodwardjnr


Well,I had a wedding and floral business that was not practical
for my community.I specialized in small weddings,100 guests
or less,using silk florals, vintage glassware and linens.

I like to clean and organize. I guess if I ever started a business it would be along those lines.

Why bother setting a business up when the government's just going to take your progits awayf rom you?

Originally posted by EvilSadamClone
Why bother setting a business up when the government's just going to take your progits awayf rom you?

You could avoid some if you could paid in cash.

reply to post by benrl

The one thing I keep seeing is do something you love and are passionate about

I think this is the key.it's not just about the money, it's about doing something your are passionate about, if you do it well enough the money should come.

Originally posted by EvilSadamClone
Why bother setting a business up when the government's just going to take your progits awayf rom you?

It's not all about the money. It's about you being the boss of your own destiny. Not having a boss to answer to.

Hi - I run my own business that we set up from scratch and am trying to set up a couple more smaller set ups. In my experience it's bloody hard work and the gov makes it pretty hard but it's worth it.

Think about a few 'streams' of income rather than just the one if you can. I run a marketing agency with 2 other partners but also sell a range of mugs that I have been developing which will hopefully become a table ware brand, I'm also looking at an online retail business and possibly selling coffee b2b... Not that all of this will work but if one goes tits up then hopefully I have back up!

Also if your looking at selling or a service try to do something your interested in but also something everyone needs or wants, sometimes it's the most mundain products or services that make all the money.

Good luck

Great thread, brother.

I have spent the past several years working as a free lance writer while attempting to put together a production studios. Of course, like every waiter in Los Angeles who is a writer, (not that I'm a waiter), what I really want to do is direct feature films. Obtaining financing for feature films is a daunting task, but with the advent of the internet, there are countless opportunities to build a following just making short videos.

I am meeting with a few friends, today in fact, to begin pre production for a Youtube channel we intend to develop. We are in pre production for our first episode of our first web series of which I am the "show runner" (Producer, Writer and Director). It has taken much time to get to this point, and has taken the courage and willingness to go hungry and live practically in destitution in order to get to this place, but the cast and crew I've managed to assemble are profoundly excited about this venture.

In fact, my Director of Photography (it is only a Canon 7d he has, but hey, you got to start somewhere) said to me yesterday: "It's good to finally see you smiling and excited about life again". We don't expect to make a dime immediately and of course hope to get as many views as possible so we can start generating income from Youtube, but the real plan is to build our portfolio to attract investors, and when we do, the beauty of it all will be that we began just to have a whole hell of a lot of fun doing what we love to do and at some point that began generating money for us all.

In between this all, I continue taking on boring papers and research gigs to keep myself fed, but after years of several missteps, finally I can see a light at the end of that tunnel.

One last thing, remember that whatever you do, be passionate about it. Live it. People respond to enthusiasm and drive

Originally posted by EvilSadamClone
Why bother setting a business up when the government's just going to take your progits awayf rom you?

That's like saying you don't play the lottery because if you win a million dollars the government will take half.

Besides, any person hell bent on protecting their unalienable rights is not going to just bend over and pull down their pants for every horny bureaucrat that comes salivating. What makes you think government has proper jurisdiction to take your profits away from you? If you don't bother to challenge the jurisdiction and just hand over your profits, then who is really to blame here?

reply to post by Jean Paul Zodeaux


Make sure you link us with your youtube project when it's ready. Look forward to seeing your work.

I have a passion and an idea, I'm just not sure whether I could profit from it. It's something I really need to start investigating a bit more. Today gave me the kick i needed.

reply to post by speculativeoptimist

Now, in a fantasy set up, where I had a lot of startup cash, I had an idea pertaining to obesity and lack of exercise with kids here in the US. Just like adult gyms, I think an after school 'gym for kids' may be a good idea, and they can sign up for membership. They can't get enough exercise at school and are to preoccupied at home so often, so I thought parents would support the idea of having a place for kids to expend some energy as well as learn about nutrition and exercise. Plus it would be a place for kids to go after school until their parents got off of work 5-6 ish. It would have multiple programs and an emphasis on fun and communion.

I like that idea. I think you could make a business out of that idea, maybe even get sponsorship from fast food companies who want to promote a less unhealthy lifestyle.

reply to post by woodwardjnr


I most assuredly will do so. We hope to have the first episode shot and edited and ready to be uploaded by August. Not clear on when in August, that is the purpose of these pre production meetings now. We are operating on the fly, so putting together an episode with high production values is a task and half right now, but surprisingly we're finding ways to do this with no money.

I think the important thing in any endeavor in life is to have fun. If you have a passion and an idea of how to exercise the passion, then for God's sakes, and as Nike has long suggested: "Just Do It!"

If it is your passion, you will surely have fun doing it, and even if it doesn't generate any money, if you had fun, then you profited! That profit - fun - will somehow translate into income somehow. This much I am learning is true.

reply to post by benrl


Yea I think I will leave the scaffolding to the bigger guys and stick with 1 to 3 stories(latter reachable).
However, not to discount the potential in high rise cleaning, check this sucker out.
skypro.com...

Peace

reply to post by Jean Paul Zodeaux

Any clues as to the subject matter in your piece? Do you like to hover around a particular subject or will you cover different topics and/or genres? I hope you bring it onboard here(indirectly without self promotion of course), I'd dig a gander. How does one make money on youtube? Will you charge per viewing, or membership to your channel, or will youtube just serve as an exposure platform?

Hope ya don't mind the questions, but I like your writing style and would be interested in your creations.

Peace,
spec

I've been self employed as a title examiner and paralegal for almost 23 years now. I've worked on payroll for others only a few times in my life, mostly in my teenage and college years. I come from a long family tradition of self-employment "cottage industries." The legal research is my primary business, but I also have a few other little businesses on the side- a little metalworking, sewing (sails and oceanographic sampling nets), art, proofreading and ghost writing, to name a few. The metalwork business I do mostly with my husband, who is also a self-employed carpenter (I've helped in that as well). I'm thinking of taking up beekeeping.

Most people I know are self-employed or work for very small businesses.

There are a lot of myths about self-employment. Many of the seminars and how-to books around push business ideas that are already past their peak and oversaturated in the market. They also tend to focus on things that require a lot of start-up capital and written business plans. Beware of these ideas: they're often no more than marketing tactics for franchises or pre-packaged business kits.

I don't know a single successful self-employed person who ever wrote a business plan, but I know a lot of people who wrote business plans and failed.

And now for the good advice:

1) Find a niche and fill it. Look around and listen to people in your area. What's a needed service or item that could be provided better from a small business than a large corporation? Who would be the customer? Can you provide what they need or want at a price that would work for them? Find something that either nobody else is doing, or an angle that others in the business are overlooking.

2) Better to underprice than overprice, particularly when you first begin. Even once you get established, don't ever gouge the customer. Don't turn away work, however small. Treat your customers well and be willing to go the extra mile.

3) Genuinely like what you do. You won't be getting vacation time, you will work holidays, and there will be no company pension so don't expect to retire in style unless you end up being extremely successful. You won't be getting sick days off either. If you don't do the work, it doesn't get done. There is a happy side to this, though. You are the boss. When the work is done, or at least under control, you can do what you want.

4) Don't go into business with the aim of becoming a huge business or selling the company out for a huge profit. Those opportunities might come about, but aiming for that will only distract you from what's really important along the way. Successful entrepreneurs do not usually fantasize about giving up their business.

5) Most bookkeeping chores aren't anywhere near as critical as some would have you believe. Keep a reasonable enough record of what you really need to, but don't piddle around making pie charts on your computer. It's far better to toss the paperwork into shoeboxes and get going with the real jobs.

6) Stay away from computer software designed to help you manage your business. Nobody knows what system will work best for you or your business. You won't even know that yourself until you really get established.

7) It's best to learn by doing. If you need to learn skills before you can start your business, take a job with a small business where you can learn them in practice rather than going back to school.

8) Don't go into more debt than absolutely necessary.

9) Don't be too quick to hire or take on partners. If someone else could be of help, work with them on a sub-contract basis.

10) Diversify to the extent you can, and be a jack-of-all-trades. Develop several small businesses if you can and run them concurrently. If one business fails or hits a slow time, you'll have the others.

A few ideas, there. I hope it helps.