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Start up experience

Discussion in 'Starting Your Business' started by remnant, Mar 9, 2016.

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  1. remnant

    remnant Member

    Most people start businesses in their area of experience, training or competencies. This is because they have at the fingertips the nitty gritty in all aspects of the business. Others engage a consultant or hire the right people and the business takes off. Which is the better plan?
  2. Vinaya.Ghimire

    Vinaya.Ghimire Member

    I did not consult any experts or businesses that deal with the same thing when I started my dairy business. We have been raising livestock since many years and it was fer personal use,and we decided to go pro. The business was known to us, however, we still came across problems.
  3. T J Tutor

    T J Tutor Member

    These are both quite viable. The stronger your business experience and the stronger your finances, the more frequently you can use outsourced consulting and other professionals to help pull together a new business.
    Palva likes this.
  4. Nikita

    Nikita Member

    I don't think there is one best answer, but just knowing which path to take according to the characteristics of the individual or group trying to put up the business can be a crucial decision. For some it's best to face the truth and realize that they need assistance even if it means giving up some of the benefits whereas for some it would be a waste of resources to do so. What's important is to be truthful to yourself so your decisions can be as objective as possible.
  5. remnant

    remnant Member

    When it comes to marketing, every business has got challenges that have to be surmounted. You have not stated the problems you faced. The best thing is to dig your heels and learn from other farmers how they overcame those challenges. Many people give up when they encounter hardships without realizing that these are learning opportunities. If you learn the solutions to most of the problems in any area of life for am extended period, you become an expert and a consultant in that area.
  6. jona

    jona Member

    You should read about the E Myth, it basically states a wrong idea that people have when they start a business: just because you are good at something that doesn't mean that you are going to be good at a business that offers that service, or a good businessman for that matter. The classic example: just because you are a great chef that doesn't mean that you will know how to run a successful restaurant.

    Running a business takes much more than the technical aspects of it, and your technical knowledge not always translates into business acumen.
  7. acheno84

    acheno84 Member

    Well, I'm rather crafty and my wife and I share a home business of things that are all handmade. We make everything from knitted baby hats to interchangeable pillow covers, to tote bags, dresses and costumes. We started out with jewelry and found that I really have a knack for sewing and fixing things, so we've been working on that for a while now. It's proven to be pretty successful locally and we have attended many craft fair and shows, and we sell our items online as well. I guess it just depends on the case for each person as an individual.
  8. Corazon

    Corazon Member

    My start up of a boutique was borne from my hobby of selling clothing items. I had been connected to some suppliers thru friends who gave me the benefit of consignment. That means I didn't have capital. I get the goods to sell and I return what's left. That simple. When my earnings were enough as capital for a boutique, that's the time I made plans of having a formal business. But the capital needed more because I didn't foresee the expenses needed in opening up a business like permits and licenses.
  9. Nancy

    Nancy Member

    I think it is more being at the right place at the right time! I was successful with no capital and no experience, but filled a need and became good at it through experience.
  10. servite

    servite Member

    I think an optimal mix of both would bring higher probability of success. You started up a business because you have interest, passion or the experience to grow the venture. If it is your first time to travel this route, it helps to engage with someone who has been through it so you would not have go through the mistakes that startups do. Leverage someone's knowledge and experience and grow at a faster rate.

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