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Old 15th July 2011, 04:23 AM   #1
Earthdome
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Default What Type Of Business Could I Start With A Solid Plan And Quick Profit Potential ?

Okay , so I have decided I am going to get assistance with starting a business through my local DVR (vocational rehabilitation office)

As far as there help starting a business goes they have a contracted company that helps me first determine what type of business would suit me best, then build the business plan, then they do a feasibility study to determine if the business is viable. If approved, they then look into funding resources, family, loans, etc. But they can help (the councilor themselves) ...up to $5000, or up to $25,000 if approved by the director of the office, and over 25k if sent to main headquarters for approval. Also they will help pay for training that will help me on my way.

Okay, well I have an entrepreneurial spirit and have been interested in screen printing since my aunt opened her embroidery shop in a small town like 10 years ago. I have since been spending a lot of my free time researching and acquiring equipment... however I have only printed a couple 1 color designs and my initial intentions were to do it as a basement project and do online sales with my products.

I have actually found a great area that has a huge gap, and could blow up extremely fast, but it is a 40 minute drive from my home. And given my limited experience in actual screen printing I would need to either get a business partner with a lot of experience or hire a couple experienced printers to get production moving. Then I could handle sales and more of the back end of production myself (having employees can be part of my plan so long as it fits the business outline).


But, Someone made a statement that rang true in a previous post of mine and said

"don't start the business to do the work of the business. You don't want to be running press machines, cleaning equipment, or even selling shirts. Those are things you want to hire or outsource.
You're job is to grow the business..."

So this got me thinking I would likely be "running a press" and doing all this stuff myself. So, I could do one of two things. Hire employee's who can help me attain my goal (and include that in the business plan). Also making the business plan much more complicated. OR chose a MUCH less complicated business all together, start a retail shop, coffee shop, candy shop, consignment shop, thrift store , or something that is not SO involved???

Would really LOVE to get some opinions ...

Any thoughts or opinions would be greatly appreciated! and thanks for reading my lengthy post : )

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Old 15th July 2011, 09:20 AM   #2
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Default Right plan - Wrong plan

If you are going to run a business, you are going to have to develop the ability to discern good advice from bad. One method I use is - if there is only 1 answer - if it is ALWAYS or NEVER - it is almost always WRONG.

Sure, if you want to be a millionaire - you aren't going to be running the presses yourself. But most of america is built on the little guy running the presses - running the registers. And I don't have stats, but I'd be willing to be those guys succeed FAR more than the one who is going to start off by hiring a big staff.

You do what is right for YOU! If you want employees, try to build a plan that involves them. If that isn't a priority - build a plan that involves just you to get started. You can be successful either way.

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Old 16th July 2011, 08:09 AM   #3
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Follow your passion, the money will follow. If you start a business for money you will always be chasing that buck. There is an old phrase "If you start a business you love, you will never work a day in your life". It's not completely true, but the idea is sound. All businesses have their up and down sides. But you will be spending a great deal of time at work, make sure that you enjoy it.

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Old 16th July 2011, 01:11 PM   #4
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Quote:
Originally Posted by Biz Optimizer View Post
If you are going to run a business, you are going to have to develop the ability to discern good advice from bad. One method I use is - if there is only 1 answer - if it is ALWAYS or NEVER - it is almost always WRONG.

Sure, if you want to be a millionaire - you aren't going to be running the presses yourself. But most of america is built on the little guy running the presses - running the registers. And I don't have stats, but I'd be willing to be those guys succeed FAR more than the one who is going to start off by hiring a big staff.

You do what is right for YOU! If you want employees, try to build a plan that involves them. If that isn't a priority - build a plan that involves just you to get started. You can be successful either way.
Thanks a lot for your valuable input Ed. I appreciate it . And thank you for clarifying that statement.

Yeah, I think for sure starting out on my own is the way to go. Then from there I can decide to expand and hire employee's as the needs grow.

For now I need to focus on Marketing. How to set myself aside from other print shops. Also determining what equipment I can add that will make my business more profitable.

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Old 16th July 2011, 01:13 PM   #5
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Quote:
Originally Posted by nealrm View Post
Follow your passion, the money will follow. If you start a business for money you will always be chasing that buck. There is an old phrase "If you start a business you love, you will never work a day in your life". It's not completely true, but the idea is sound. All businesses have their up and down sides. But you will be spending a great deal of time at work, make sure that you enjoy it.
Thanks for the positive push Neal ! Appreciated.

I do strongly have a passion for this business

That's why I believe I will succeed !

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Old 17th July 2011, 11:05 AM   #6
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Default business

Quote:
Originally Posted by nealrm View Post
Follow your passion, the money will follow. If you start a business for money you will always be chasing that buck. There is an old phrase "If you start a business you love, you will never work a day in your life". It's not completely true, but the idea is sound. All businesses have their up and down sides. But you will be spending a great deal of time at work, make sure that you enjoy it.
Wonderful advice. I totally agree with you

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Old 18th July 2011, 09:37 PM   #7
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Just about all the people that I know who became successful all started out 'on the shop floor' so to speak. That's where you get the real education. You learn (or already know) the short cuts and tips to make it more profitable.

Above that... you will never have employees hold you hostage. If they walk... for whatever reason... you still have the skill to get the work done.

I fully understand that you don't want to run the press for the rest of your life. Nobody said you should. Remember... you have to crawl before you walk.. then walk before you run. If you work at it, you will be running in a few short years!

Good luck! Hope this helps!

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