TENEBRIS LLC » Business – How to start one Part I from VI

INTRODUCTION

Introduction

How to start a businesses? This is one of the questions that I encounter from people starting their entrepreneurial life. Those people usually have an idea of what they want to do. However sometimes there are those who are lacking those ideas or who think that business ideas from internet are the solution (I would said use them as guidance or referral).

In the series of posts 'Business – How to start one' I would be presenting my own personal thoughts and experience on how to start a business and what should be taken into consideration.

One thing to remember is the fact that going into business is not 9 to 5 job. The truth is that it is usually 24/7 job at the starting period. Later the number of hours will go down but still it will not be typical standard working hours. Honestly speaking it will depend on you if you would like to sustain the business and grow or do minimum and get minimum from it.

As my old boss was saying, 'if you want to do minimum in business don't go into it'.

What will the series have

I decided to divide this post into six parts. This is done in order to make it easier to read and find the part that is of your interest.

Part I Introduction

The present part. Small introduction into the series and to what business is.

Part II Business Idea

Presenting how to choose your future business idea. The post will show how to decide on what to do and how avoid mistakes or some of them.

Part III Name for the Business

Discussing how to pick a name for the business. One of the most burdening things in my view as company name is like business cards.

Part IV Business Plan

What is Business Plan and why it is important. How to use it.

Part V Business Registration and Starting up

General discussion about registering a business. The post will also discuss about first months of business existence.

Part VI Running a Business

General advice on not to how run your business but what to remember when you run it.

The initial idea of those parts will be discussion and presenting personal experience rather then advising and saying you have to do this. In most cases the environment (where you live, business around and economic situation) will dictate the moves. This is why I would suggest getting professional advice or discuss your plans with independent party.

Business – What is It

After short introduction let us think what business really is. Since you are planning to enter world of entrepreneurship it is good to know what you should expect. The academic and encyclopedic definition you can look online, so I will not trouble you with it. For me it is an organisation or activity dedicated to maximise owners/creators wealth.

When deciding to start a company you should create a sheet with pro's and cons of it. You should compare it with similar sheet dedicated to full time job. If you are only motivated by not having a boss and working whenever you want – so not start a business. In order to succeed you will have to dedicate long hours and lots of energy but rewards could be more then generous. You have to remember that you will not have guaranteed pay each month, you will have to work for it.

I would say that business should be your hobby a thing that you like not a thing that you have to do. Only then you will see maximisation of profits and growth of your wealth. Entering the world of business is also stressful as there are times when profits are not enough to cover your expenses (this will be touch upon Business Plan part). So remember that this is not only ups but also downs. Many people resign when they encounter those difficulties rather then look for help and assistance. You should always fight till the end as you never know what could happen.

Saying this, if you want to start a business you must be a fighter and never give up.