6 Things to Know Before Starting a Business

[snakeair]

Thinking about starting up a business? Check out some of the tips in the article below before commenting.

An entrepreneur’s life can be a real roller coaster. Having started a few businesses in my career, I thought it would be useful to highlight some of the hard-won experience I’ve learned throughout the process — the kind of advice I wish I’d known when I started my first, or even second, business.

Continued at: http://mashable.com/2012/01/21/6-thi...ting-business/

Anyone have any thoughts on the 6 tips mentioned? Please add somemore if they are really important.

[easytechtips]

To start a business first of all you need to follow the established and experienced businessman of the sector.

Really these 6 steps will help us to start a business. I appreciate these ways.

[Sprinkler Buddy]

Don't expect an overnight success. For most start up businesses it's a 4-5 year period before you actually start making a profit.

[cgwebsites]

I think the note under the first point is excellent, about having an exit strategy. Too many people start a business without having an idea of where it's going to go, or what they intend to do with it later.

[IJR112]

Most people give the advice to fail quickly. So many ideas get changed overtime and improved. It's best not to hold on to an idea that won't work, fail quickly, and change your idea to the optimal one.

[Reliable-seoservices]

In the articles, I really agree with the point#3- DON'T HIRE THE FRIENDS.
Sometime its really becomes difficult to ask them if work is not going into right direction.

[snakeair]

Originally Posted by Reliable-seoservices

In the articles, I really agree with the point#3- DON'T HIRE THE FRIENDS.
Sometime its really becomes difficult to ask them if work is not going into right direction.

I know the feeling. A friend of mine has owned a business for 11 years and when he first started it, he wanted me to work for him. I told him that i don't work for friends because it could ruin the friendship.

He agreed with me and we been friends still. It's one thing being friends but owning a business, you have to do what's best for the business and if it means firing your friend for not doing his job then that's the best thing to do.

Never hire friends is my motto.

[Chris-Oranum]

This is a short - yet usefull article - explains briefly but makes sense - I liked it a lot Thank you

[elitebag]

Good points .Starting a business is not easy ,so we also need consider much to set up.

[ceekeigh]

Originally Posted by Sprinkler Buddy

Don't expect an overnight success. For most start up businesses it's a 4-5 year period before you actually start making a profit.

+1 on this one. It's a personal experience of mine as I've been dealing with online stuff for a couple of years now and until now I haven't tasted success yet. More work for me.

[Econtinue]

In my opinion, the most important aspect of starting a business (online or offline) is research. To know everything about your market and its prospects, desires, etc is crucial to be abel to come anywhere near successful.

Too many start with picking a product and start random marketing for it.

Andre

[dowjoetod]

3. Don’t Hire Friends is the mistake I have always made... it's really difficult to deal with them and ikn the same time be a friend...

[Chris-Oranum]

Originally Posted by dowjoetod

3. Don’t Hire Friends is the mistake I have always made... it's really difficult to deal with them and ikn the same time be a friend...

Yeah - my friend is in the same shoe at the moment - eventhough they discussed at the beginning that no matter what they are going to discuss the issue it just doesnt work liket that -

[kju385]

I'm generally against hiring friends simply because of the friendship. If they are experts in the field we need help in, it's entirely different story. The most valuable advice from the article would be Number 4. Don’t Dive in Without a Plan.

Seems to me that most of the people when they have a good idea take it lightly and improvise along the way. Without an overall goal or vision of development, it is hard to know if you're going in the right direction. Make a general plan and follow it through. That is the serious approach.

[seolyka2]

Originally Posted by Sprinkler Buddy

Don't expect an overnight success. For most start up businesses it's a 4-5 year period before you actually start making a profit.

I agree on this. It really takes time to become successful in running a business. You will face a lot of trials. So it's really important to have a formal business plan so you have certain goals to achieve.

[David krsty]

Really a interesting post and I agree your point, never higher your friends and relatives.

[odlanor9]

#3 has to be a big one! Never hire friends, I have heard it can get really messy!

[Vanille]

I think the fear of failure prevents a lot of people from starting a business, whether online or offline. People doubt themselves and then never give something a real chance before giving up. Often, friends and family also contribute to discouraging people from doing it, probably because they lack confidence in themselves. I think it's good to go towards the fear because it is the only way to overcome it (you've got to get into it before you can get out of it), grow and develop confidence and accomplish goals.

[marknel]

I think its very important to have work experience. learning the nitty gritty of the business before starting on your own. You can work as an apprentice, investing time and effort before investing money.

[big_mistake]

making a business grow needs patience an time both .With care one has to step out difficulties,think for the best strategy on can ,and deliver the best will makes his efforts worth