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Who wants to start a Business? Any TSR aspiring Entrepenurs about? Watch

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    • I'm looking to start a business, preferably online, I have a few ideas. My main idea is software based though. I'm not looking for an 'investor' or anything like that.

      Is anybody else in the same situation??? If so, i'd like to discuss this further. I'm hoping to find people that are serious about this. Preferably 20+. Hopefully we like eachothers ideas.
    • My idea only has TWO competitors. I've done my research across the board. From the least popular to the main popular. There is two competitors. The main 'competitor' has swallowed a market entirely with near enough ZERO competition.


      My idea is a very popular piece of 'kit'. If we can take what is already there and develop that with my ideas i'm confident it will go somewhere.

      I'd really like to find a business partner of some sort.

      thanks




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    If you have a good credit score and take it to the bank with a business proposal, you can get a start up loan to get it going. Remember that it's a big deal though, so make sure you really understand the industry you're trying to go into.
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    Meeee

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    Im in!
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    (Original post by fudgecake22)
    Meeee

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    Ok can anybody interested tell me a little bit about the industry/sector the idea is for? Fashion, software, online, gaming etc???
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    I've already done it in one industry, construction, and will be doing it again upon completion of my postgraduate studies.
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    (Original post by Fidus Achates)
    I've already done it in one industry, construction, and will be doing it again upon completion of my postgraduate studies.
    Any tipa?
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    (Original post by Catholic_)
    Any tipa?
    Plan it from the ground up, methodically and thoroughly, just as you would if you were building a house. Don't rush into it as only fools rush in. Factor in:

    1) Legal issues and Licensing (Taxes/Invoices/Risk Assessments/etc)
    2) Finances (Income/Outgoings/Overheads/Accountant? etc)
    3) Branding and Marketing (Name/Logo/Slogan/etc)
    4) Who are your typical customers? (Age bracket? Why would they be interested in your business?)
    5) Who are your competitors? (Size/Years Trading/Market Share/etc)
    6) What type of business? What type of hierarchal structure? (Ltd Company/LLP/Sole Trader?)
    7) Are you set up in the right location? Are you set up online?
    8) How will you pay yourself?
    9) What's your Unique Selling Point (USP)? You may be in a similar industry to many hundreds or thousands of other competitors but why should I choose you over them? What makes you unique?
    10) Business Bank Account - Natwest are brilliant I have found.
    11) Requirements in terms of employees (How many? What roles? Salaries?)
    12) Insurance

    Remember all of the above can cross over and that's just the start. There's so much more research you should be doing and you should be putting together an extremely thorough business plan. You shouldn't be putting together a business plan because you want financial backing from the bank, you should be putting one together because you want to succeed.
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    I have ideas for a business but have no idea where to start!

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    I already run a few companies with six figures of revenue each. One will hopefully reach seven figures in 2015. I don't have time to be a business partner but I can impart a few words of wisdom provided that you are against man-hating modern feminism.
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    Your business idea sounds rude.
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    I'm in. I have a lot of contacts that would be vital for any business.
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    I was going to start a company over the summer holidays but gave up as I just didn't know how to start

    But yeah I'm in!

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    (Original post by Catholic_)
    • I'm looking to start a business, preferably online, I have a few ideas. My main idea is software based though. I'm not looking for an 'investor' or anything like that.

      Is anybody else in the same situation??? If so, i'd like to discuss this further. I'm hoping to find people that are serious about this. Preferably 20+. Hopefully we like eachothers ideas.
    • My idea only has TWO competitors. I've done my research across the board. From the least popular to the main popular. There is two competitors. The main 'competitor' has swallowed a market entirely with near enough ZERO competition.


      My idea is a very popular piece of 'kit'. If we can take what is already there and develop that with my ideas i'm confident it will go somewhere.

      I'd really like to find a business partner of some sort.

      thanks




    Why would I as a new customer come to you (as a new small company) instead of them (the big market leader?)
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    (Original post by MarriageSucks)
    I already run a few companies with six figures of revenue each. One will hopefully reach seven figures in 2015. I don't have time to be a business partner but I can impart a few words of wisdom provided that you are against man-hating modern feminism.
    Turnover is vanity, profit is sanity, cash is reality.
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    (Original post by Fidus Achates)
    Plan it from the ground up, methodically and thoroughly, just as you would if you were building a house. Don't rush into it as only fools rush in. Factor in:

    1) Legal issues and Licensing (Taxes/Invoices/Risk Assessments/etc)
    2) Finances (Income/Outgoings/Overheads/Accountant? etc)
    3) Branding and Marketing (Name/Logo/Slogan/etc)
    4) Who are your typical customers? (Age bracket? Why would they be interested in your business?)
    5) Who are your competitors? (Size/Years Trading/Market Share/etc)
    6) What type of business? What type of hierarchal structure? (Ltd Company/LLP/Sole Trader?)
    7) Are you set up in the right location? Are you set up online?
    8) How will you pay yourself?
    9) What's your Unique Selling Point (USP)? You may be in a similar industry to many hundreds or thousands of other competitors but why should I choose you over them? What makes you unique?
    10) Business Bank Account - Natwest are brilliant I have found.
    11) Requirements in terms of employees (How many? What roles? Salaries?)
    12) Insurance

    Remember all of the above can cross over and that's just the start. There's so much more research you should be doing and you should be putting together an extremely thorough business plan. You shouldn't be putting together a business plan because you want financial backing from the bank, you should be putting one together because you want to succeed.

    Came here to post this, glad to see someone offering a sound breakdown of it. Remember that if it was easy, everyone would do it!

    As a side note might be worth getting a credit card to start building a credit score for the startup loan. Use the credit card to buy bits for the business, pay the card from wages, open a business account, and when you go to get the loan you can evidence already purchased stuff as finnce you've invested (this is what I did).

    The final bit of advice I'd offer you OP is to maybe work in that field in the mean time. Industry knowledge is just getting your mistakes out of your system in advance.
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    I'm in though I need to find an idea but I have funds in excess to start a business.
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    Explain further and I'll be in


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