When most people think about starting a business they picture a brand new office and office furniture, a new computer, a staff full of highly skilled people, all of the latest technology and thousands of whatever widget they plan on selling. Truth is, that would be great. It really would, but most businesses don’t start like this. When I set out to start up my Ebay business: 603 Hobby I knew that I needed to bootstrap that pig to the max! My business is an experiment, and for this scientist I also need to continue my day job (I’m not actually a scientist, but I do have a day job) This series of blog posts will break down how I started off with very little money and grew my business to millions in revenue! Ok, back to reality; my business was established in January of this year, and to be honest I did absolutely nothing with it until March. Ouch….on to the part where I said millions in revenue…well that is a bit of a stretch as well….for the month of March I ended up at about $2,200 in sales, which to me is really not bad at all. Enough of my blabbing, let’s get to the good (or not so good, you be the judge) stuff!
Starting a business on a shoestring budget is certainly not for the weak at heart! It takes a can do attitude (as well as a full time job lol) to get it off the ground. Obviously, you need to make sure to check with your state offices to learn about registering your business before you get up and running. Here in NH it is as simple as going online to the state site, paying a few bucks and voila! Now, before you run to your laptop and create your new business, you might want to give some thought to your business name, as well as what you are actually going to do!
Now that we have the “legal” garbage out of the way; what the hell are we going to go into business to do? Everybody has an opinion on how to start up a business and get business ideas….my advice is this: do something profitable and scalable Plenty of people recommend turning your hobby into a business or just focusing on something you know or currently do. I don’t 100% disagree with that, but I feel that there are better ideas. Start with something scalable and profitable, then once that is running like a top go ahead and branch out! At that point you have income from your first business and can afford to have some fun!
Thats it for the intro post...The great news is that you can read the next posts here:
Low (or no) budget Business startup part 2
Low (or no) budget Business startup part 3
Low (or no) budget Business startup part 2
Low (or no) budget Business startup part 3
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