IF YOU ARE IN DEBT - PAY ALL YOUR BILLS NOW- YOU SHOULD NOT BE IN DEBT WHEN STARTING A BUSINESS. YOU CAN GO BANKRUPT BEFORE YOUR BUSINESS EVEN STARTS.
Read my post Credit/ Debt free.
First, you have an idea and you may think it is the best idea in the world. Wrong, if you don't try it out on the general public you may have a stinker on hand instead of a winner.
Here are some basics - You have an idea, Great.
What is your idea is it making some great product?
Is it selling a product and making a business out of it?
Let's go with the first idea, making a product - How much will it cost?
What is the demand for this product? Age demographics, Demographics of the U.S.A.
How much will the patent cost?
How much will the trademark cost?
How much will advertisement cost?
How will you advertise?
Will you hire a lawyer or will you use LegalZoom for now, the beginning stage of your business?
Do you have a Business Plan and Do you know what a Business Plan is and How to make one?
Do you have a prototype?
O.k now let's discuss you have a product and now you want to get the word out. How, easy you are going to start a blog and tell your friends, buy a mailing list and make flyers and mail them. Yes, use snail mail it works.
yellowpages.com - you can order a Telephone Directory - If you place an ad, you may get 1 or 50 states for free. Please try to get all 50 states and even commonwealth countries. Canada also.
Mailing List Companies - Use google, or contact your local BBB
Classified Ads. Your local small-town newspaper, etc. - http://www.pennysaver.com/
Address use - Strongly recommend using something like Postal Annex or your local UPS Store or your place of business. Not your home.
Sell, your product on eBay, Amazon, BN Marketplace, Walmart Market Place and of course build your own website or Hire someone to build your website. Hey, did you remember to get your business license from your City Treasurer and your Tax license, yes Uncle Sam wants a piece of the pie.
GUESS WHAT - You have to keep advertising your business or your business will start to falter. Maybe your business is not starting off with a BOOM, do you give up, yes if you have been doing it for over a year, or you can start a poll and ask why no one is interested in buying your product.
Constructed criticism hurts if you listen it can make the world of difference. I was told that my website was too feminine and so I asked what color would they suggest and the person's color that make the world of difference, saying within 6 mos. they would receive $100.00 and so for 6 mos. for 2 wks. I choose a color. The color that received the most visitors and sales won. BAM! WE HAD A WINNER!!!!!!!!!!!
I guess the saying " The customers are always right."
Set a timetable when you are going to be online for emails and phone calls. I didn't place that on my brochures and website, I was getting phone calls and emails for 24 hours and since sometimes I didn't answer them. I was losing customers.
Example - Phone Hours: 7am - 12pm ( 12pm -2pm Lunch Hour) Now, remember at 2:00pm You ARE going to get a phone call. 2:00pm - 10pm Closed, will not answer the phone after 10:00 so please no 10:01 phone calls, you will have to leave a message.
Emails will be read during the day, will answer your emails in the order it was received. Now mind you the person that calls you constantly will also email and guess what? He or She will be expecting you to answer his or her email also.
This was my schedule will answer phone calls between the hours of 9:00 am - 12:00 on Monday, Tuesday. 12:30 - 7pm on Wednesday - Friday. Saturday & Sunday 2pm - 5pm.
Answering Emails - varies will answer the order received.
Hey, have you tried using your mailing list to give out freebies, everyone wants something for free or a giveaway contest, just pay for shipping and handling, etc.
How To Start A Business
Start with one product line in which you enjoy working. You can expand into other related product lines once you start earning a profit. You can either sell perfumes and cosmetics, as Avon does, or use their direct selling methods.
1. Find a manufacturer or wholesale supplier for your products. Contact the National Association of Wholesalers-Distributors (NAW) for potential wholesalers at Naw.org. Attend a NAW meeting for additional information, or get a membership. Go to the library and read through the "Thomas Register of Manufacturers."
2. Call several of the suppliers. Find out which ones drop-ship products, as drop shipping will enable you to order single products at wholesale prices. Ask the suppliers if they provide catalogs, order forms and brochures. Select the manufacturer or wholesaler with the lowest per-unit cost on products. Find a wholesaler that gives you at least a 200- to- 300-percent markup on products, since you will be selling wholesale to other distributors.
3. Call competitive companies that sell your types of products. Inquire about their retail and wholesale prices, the latter being the price sales reps will pay you. Order a few distributor kits to obtain these prices lists, which may cost you $25 or $30 each. Ask your supplier for guidelines on retail and wholesale prices for your distributors.
4. Order catalogs, brochures and order forms from your supplier. Create a wholesale price list for your distributors, providing yourself with at least a 10 to 25 percent markup. Add in shipping charges for your direct sales reps, according to the article "Starting Your Own Party Plan Direct Sales Company" at Mymommybiz.com. Write up an instruction manual on how distributors can sell your products through the home party plan.
5. Search Google.com or Yahoo.com for companies that sell network marketing commission software. Use the software to set up the commission structure for your reps. Pay sales reps 40 percent, for example, on direct sales, 10 percent for second-generation sales or sales made by people your direct sellers recruit.
6. Hold seminars to recruit direct sales reps into your business. Place ads in business opportunity magazines like "Business Opportunities" or "Home Business." Charge people a small application fee for the instruction manual, catalog, order forms and brochures you include in their distributor's kit.
