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How to start a business

(6 Posts)
IrrelevantPeasant Tue 17-Oct-17 22:24:56

I am a SAHM and would love to start my own business. I have an idea but have no idea what to do with it. How do I get the ball rolling? I'm in Scotland if it makes a difference.

delilahbucket Wed 18-Oct-17 11:27:12

That depends on what you plan to do. Research is often the first place to start so you can find out whether your idea is viable.

bizbon7 Wed 08-Nov-17 10:04:14

Hello! First of all, you need to decide what you want to provide for people (products or services), secondly, write a business plan and then start doing your business step by step according to your business plan and budget.

Mum8 Wed 15-Nov-17 11:19:43

This discussion is interesting for me as well. How do you go about making your business plan?

Shen0102 Thu 16-Nov-17 19:07:21

Research is definitely a way to go. Just Google your idea and if there are other companies selling/offering the same services look into how you can do better than them.
Then look into how much money you'll need to get into the market. Nowadays banks don't touch new start-ups so you might have to use savings or borrow from friends and family. Once you have a year's worth of accounts that's when you could approach banks and other crowd funding places who normally ask for accounts from the past 6months.

Initially I wouldn't recommend doing those 20 page business plans as they would expire before you even finish writting them ..i never did one for my business only after I started making a good wage from it did I then plan the next 12months (even then it was just a sketch of goals)

NeonSun Fri 01-Dec-17 12:04:43

Are you really passionate with your idea? In case of your own business it's very important, I know many people who made their companies really successful starting from this strong wish and love for certain work smile Besides you'll need to spend really much time for it and in that case many types of work will seem easier.
Don't leave you current job before starting your business, it's not a smart idea at all because you'll start getting money from it not very fast. Of course if your husband can support you during this period, than it's another case smile
Good business plan, finding customers, help of professionals in your sphere and effective management system are other important things for you. If you're going to sell various products, then an inventory/warehouse management system will be necessary for you too because managing all that stuff is a key to creating a successful business. Such software will help you to control all parts of your supply chain and make it more effective, there are many of them, including personal project ones which are good for working with your stuff too.
And yeah, for newbies in this case finding a nice mentor is an important step in the beginning too.

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