DU Business owners

[Lou_C]

I need advise on opening up my own business.

I am going to register my business name in the morning and try to get it off and running without my business partner because she is no where to be found.

We have a trade show coming up this weekend and it only comes around once a year so it's either start it up this week without her or wait another year.

Has anyone ever tried to start a business up on their own and succeeded?

[rfranklin]

1. It doesn't sound like you're ready....

Are you going to book a lot of business at this show? Do you need your partner? If not, why have a partner? I rushed into a business without really knowing what I was doing and spent a number of years struggling when I should have learned the business on somebody else's dime. You haven't really provided enough info to receive specific advice, but from the sound of it, you aren't ready.

[Bonhomme Richard]

2. Started a business a little over 3 years ago

Scary but I'm still here. Have I succeeded? Not yet monetarily (note the optimism). In other areas I have succeeded.

I developed a product that the navy uses that, I'm told, saves taxpayers millions of dollars a year and helps the environment. I also just did my first trade show with a product for the aviation industry and it was well received. I'm glad I did the show because my prospects are much better than they were a few weeks ago. Well worth the investment as it cost me about $4,000.00.

You are doing the right thing by going ahead and doing the trade show and I don't think you will regret it.

Good luck

[Lou_C]

3. We had a family business a while back

It was an e-commerce business and I was grossing about $4,000.00 a week and I had to pay two family members a salary out of it and then pay our bills and all of the expenses.

We lost the business after Bush took office and I still have product in storage.

The person that I wanted as a partner for the business doesn't understand that their are Trade Shows that you have to go to so that you can make contacts.

My Investment was around $500.00 and I entered orders and put together adds for about 18 hours a day. I worked day and night and some nights I didn't go to bed.

I ran it out of our home and the area that we had our house in was a very wealthy area where the houses cost 1/2 million dollars to start.

We lost the business because I was the only person putting time and effort into it and I needed a partner to help out.

I know the mistakes I made at the end and I know how to run a business because I have 2 years of business college.

I just need some info about what the market is like nowadays and a support system which would be a business partner.

I want to open up a Lingerie Boutique over the Internet, get a catalog going in about 5 months and then open up my store.

I have a plan written out and I know that this time that I can make it work because the last time I made it work.

I screwed up by taking lavish trips and purchasing a house that was too expensive and several nice cars.

[sundog]

4. I've got a small restaurant in Southern NM...

been in business 7 years, but I'm lucky I have the guidance & support of knowledgeable mentors who have guided me through the process.

If I had gone at it alone I would have failed, so I'm fortunate I have a good support group.

Main thing is if you go into business with someone, there has to be trust.

If I could ask, what kind of business is it?

[Lou_C]

5. Lingerie

I want to start out on the Internet build it up and they somewhere down the line I will open up an upscale boutique.

[KG]

6. get bob dylan to do an ad for ya!

um, wait a minute....

[sundog]

7. ohhh--

You're the one who was asking about names for the shop the other night, right? I liked "Dirty Pretty Things," but the girls thought it sounded too trashy...

E-business is definitely not within my scope of knowledge, but it definitely seems more self sufficient than a restaurant -- I always maintain low overhead here.

All I can say is make sure you don't deplete your borrowing power. This is mailnly due to the fact that business can be temperamental, and you have to be prepared to weather slower times (I'm in a tourist town, and national tourism took a blow since 9-11).

Business is a double edged sword-- tough, a lot of work -- but its main advantage is being independent.

[Lou_C]

8. I have learned everything the hard way

I know what to do and what not to do.

I have a storage area filled with merchandise from the last business.

I use to order what I wanted for myself and I got stuck with a ton of things. That is another bad idea when you have a business.

You don't order Mattel products if your customers are buying Bradley products or you don't oder meat when you have all vegetarian customers.

I am thinking about name the boutique Yevette's.