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Old 28th March 2015, 02:59 PM   #31
Spider
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They want total control?

Well, the other side of that coin is they don't trust other people to do good work. Their "interfering" drives the good workers away and they are left only with people who need minute-by-minute direction.

This often comes about by refusing to pay more for good workers and only get low wage, less competent workers.

Nobody wants total control. That takes all the fun out of running a business. In fact, that isn't running a business - it is called freelancing.

It's a fear-based concept, unfortunately, but many people live their entire lives in fear. Although they argue that their chosen lifestyle is one of freedom, freedom can never result from fear. They finish up locking themselves in a box of impossibilities.

Shame, really. I have often found such people to be conscientious, hardworking and competent. But they don't allow themselves to joy of using their talents to the full.

“Far better it is to dare mighty things, to win glorious triumphs, even though checkered by failure, than to take rank with those poor spirits who neither enjoy much nor suffer much, because they live in the gray twilight that knows neither victory nor defeat.”
― Theodore Roosevelt

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Old 28th March 2015, 03:46 PM   #32
tuition
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I don't see it that way. I see that they have the life they chose and are enjoying what they are doing. They built something that provides them what they want and are not bothering anyone else.

Not everyone wants to rule the world.

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Old 28th March 2015, 09:57 PM   #33
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Not everyone wants to rule the world, it's true. But the people who want total control are trying to rule their world. And that, too, is their choice.

We all live the life we choose.

Instead of living life ....

Perhaps we can't help putting limitations on ourselves.

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Old 30th March 2015, 01:00 PM   #34
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I haven't read every single post, but I do think people should take minimal risk when they start - unless they really know what they're doing or have deep pockets. Starting small, outlaying as little cash as possible, these are the things that keep the risk to a minimum.

Of course, there should be some kind of investment or else it's too easy to just quit when things get tough.

But testing the waters is a good approach for people who aren't sure what they should do.

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Old 30th March 2015, 05:51 PM   #35
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Quote:
Originally Posted by DeniseTaylor View Post
I haven't read every single post, but I do think people should take minimal risk when they start - unless they really know what they're doing or have deep pockets. Starting small, outlaying as little cash as possible, these are the things that keep the risk to a minimum.
Of course, there should be some kind of investment or else it's too easy to just quit when things get tough.
But testing the waters is a good approach for people who aren't sure what they should do.
I couldn't help a little chuckle, Denise, over, "people should take minimal risk when they start - unless they really know what they're doing..."

Hobbies are things you start without knowing what you're doing, in my view. Anyone wanting to start a business needs to know what they are doing.

Let's face it, one is going to be taking peoples' money -- in return for goods sold or services rendered. Taking peoples' money 'without knowing what they are doing' is decidedly unbusinesslike, and, in some cases, could even be criminal.

This may be why so many small business fail in the first year or two - people doing things under the guise of "business" that they really know nothing about.

If you are going to be a business advisor, please don't encourage people to start a business without knowing what they are doing. You'll give all of us business advisors and coaches a bad name.

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Old 17th April 2015, 12:35 PM   #36
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Default Know what they're doing

Knowing what they're doing related to a high amount of risk and investment as compared to extreme bootstrapping.
I think that was the basic intent of message. I don't think it was to go ahead and start a business without knowing anything about what you're doing.

Being realistic, who knows everything about business and risk management before starting one? So, how much do you need to know before you start? This is the area where I see the biggest problem.

Once you have an idea of what you're good at and why you want to pursue that idea, what's the next step? Many say to start on your business plan! I say phooey on that, you may discover your idea isn't worth pursuing. Why waste all that precious time on trying to create a business plan for a business that won't last a week because there's not a demand for your product or service. If there's demand, they're might not be enough of it. You might not be able to provide what the demand is for cheap enough.

I'm working on getting to this, later. I wanted to follow a basic step by next step approach. Sometime next week, I'll continue with turning ideas into something more material.

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Old 17th April 2015, 01:41 PM   #37
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... Being realistic, who knows everything about business and risk management before starting one? So, how much do you need to know before you start?
Dan, In starting a business, I see two major elements. There is "doing the work of the business" and "the running of the business."

Knowing "about business" and being proficient at "risk management" is part of "the running of the business," (unless you are offering services in those aspects - business consultant, risk advisor, etc.)

"Doing the work of the business" is the work for which customers/clients come to you - making flower arrangements if you are a florist, selling computers if you are starting a computer store, providing meals if you intend to open a restaurant, etc.

I believe one must know a good deal about the business one is going to do, before starting. No point in trying to open a restaurant if one does not know how to cook.

UNLESS - and there is a big "unless" -- Unless you know how to run a restaurant. In this case, you can open a restaurant without being a cook because you have spent many years managing a restaurant and can hire cooks to do "the work of the business."

But to open a restaurant with no knowledge of cooking and no knowledge of running a restaurant, is courting disaster. You don't have to know both, but you do have to know one of them.

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Old 17th April 2015, 01:56 PM   #38
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Originally Posted by DantheMan View Post
... Once you have an idea of what you're good at and why you want to pursue that idea, what's the next step? Many say to start on your business plan! I say phooey on that, you may discover your idea isn't worth pursuing. Why waste all that precious time on trying to create a business plan for a business that won't last a week because there's not a demand for your product or service. If there's demand, they're might not be enough of it. You might not be able to provide what the demand is for cheap enough.
Dan - I think, all those items you mention that need to be done before writing your business plan are items that you need to research to be able to write your business plan. Those research steps are initial steps of writing your business plan.

I don't think anyone is suggesting writing a business plan without facts. Because a business plan must --

- state whether the business idea is worth pursuing and why
- state why the business idea "has legs" - can last for more than a week
- state what demand there is for the product
- state how much demand, from where and why there is a demand
- state the price point the market will accept
- and a whole lot more that your research will expose.

Then, of course, your business plan must state why those statements are true and provide facts to support them.

All of it is part of "Writing a Business Plan."

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Old 17th April 2015, 02:16 PM   #39
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Ok, in the example of knowing a good deal about cooking and being a good cook. These would be some good requirements for starting a restaurant.

What if I didn't want to take all the risk of investing in a physical location? What if I had an idea about creating a business around cooking steaks, baked potatoes, tossing a salad, and maybe an appetizer or two? There's plenty of people out there that can do this. Is it a bad idea to say, "I already have everything I need (minus $2,000) to be able to do it, so I'm going to" if they know how to cook steaks and potatoes?

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Old 17th April 2015, 03:38 PM   #40
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Originally Posted by Spider View Post
All of it is part of "Writing a Business Plan."
Exactly the problem most have, "it is part of ...". Which part(s) are needed which parts are needed first.

I went to the SBA many years ago and attended a business planning class. I never completed that plan, more specifically I barely got past go. Now I know why. I didn't need a business plan, at least not at the time. I needed to know if I needed a business plan. If I did, what I needed it for. I needed to know what I needed to know before blindly stabbing at an important project like a business plan. I didn't get what I needed, I got what they wanted me to have. Their interest was in getting me a SBA loan, not helping learn how to evaluate a business idea before starting a business plan so I could get a loan.

My point is that there must be an important step before diving into the business plan. I'm about a month away from that point in this thread. We'll get there though, be patient with me.

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