This urge is getting to the point where I think I'll just start something on a very small scale (this time the time-scale won't be small). According to my analysis and imagination on an initial level, I have arrived on a few tips for a person to start a new business, specifically speaking of those who are on a paycheck and don't have much finances to invest. I am the rookie of rookies in business, so it's pre-mature to list down the points now, but here I go, hoping to get some comments:
- You have to have a very vague starter vision
- Try a smooth transition from job to business. Setup the business in parallel to your job, don't quit your current job to start it
- Try to cover finances with knowledge & talent, try starting from something which doesn't need much financing
- Consider starting something from a very small scale, but which can be scaled lower or higher as the need arises e.g. service provider business
- Find references among your family, relatives, friends, colleagues, etc. who can guide you towards anything, ranging from advice to clientele to suppliers
Plus, you need to have the following positives to start something:
- Motivation
- Time Management
- You should have a thing about numbers
- Effective Communication Skills
- Thinking in terms of customers & finances
- Long term planning skills, yet having short term planning skills for bonus seasons/events
Have a look at Life without a paycheck, I've read it, so I assume anyone can read it :)
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8 comments:
+ think in terms of creating and capturing what canbe the best bzness opportunity
think about Hot spot when they started long time ago
ni a house in g6
think about planet x in f7
u dont need a ell of investment if u can capture an idea that the ppl r dying for and that doesnt have much competetion
think over it !!!
Perhaps, it's built into you and you already know that you "are" a business man; just like you "know" if you are an actor or an artist.
A blog post or an article might help you to make contacts of like-minded people. It can also help you to put your views in writing and achieve clarity of thought. You might also get a few comments or insight by experienced people. But you can't make a business man out of a non-business-minded person, in my opinion.
@Jaywalker
yup
a businessman and a heart
r two very distinct and mutually exclusive capabilities :)
thats why i still have my doubts that i will go for an mba
but i am still not sure :D
Best of luck ... !!!
besides all that, you need a solid business plan and an innovative business idea. Most new business ideas dont get much appreciation but time proves them to be successful. History is full of examples like Apple Macintosh, Apple iPOD Mini, FedEx Courier service, Dell Computers, and so on.
Umar, I think you missed the point here. Of course, one needs to have a good business plan which has to be about something innovative, but that's not the point here.
The thing that gets you started or rather say motivated is not an innovative idea, rather its implementation and specifically the first step.
Once you go for something and you've that business mind, you can start approaching towards something really big. But, the first step has to be there.
Here, the context is not huge businesses, rather business in parallel with your current job and having that transition which needs to be there for someone who can't afford to discontinue his/her current job suddenly.
Though it's correct that one has to be patient before something really big happens along the idea. Specifically speaking, I think it ranges from 5-10 years before the business really gets going at a level where you can feel proud of it.
Interesting insight in the proper buiness managment, honeslty looking at it from the real world prespective, can all your motivational issues etc can it be achieved here in Pakistan
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