Posted by BrendaTx on 7/21/13 10:05pm
Msg #477645
How do I start a business like yours?
I was with two business owners over the weekend, ladies I have known since we were young mothers and attended church together.
They own businesses that have both cash retail sales and services. They are clearing in the upper six digits. Guess what....they still get asked the same questions that NSAs do.
"How can I start a business like yours? Do I need a college degree?"
They love the college degree question because neither of them have a degree.
They were talking about these things and I probed them to get answers because I had not heard this discussion about people requesting business info of business owners anywhere but on NR. They discussed the answers that they give when people ask them how to start a business.
"First you have to figure out what business you want to be in--make sure that it will make money. You need to know what you are going to do, how you are going to run the business, know how much money you need, and you have to get the money to do it." and
"It's not what you make, it's what you spend. Profit may not come right away...yes, you can go into the hole! Save as much as possible."
The rest of the discussion we had was about how they got information on starting a business. They went to the library, made phone calls, and wrote snail mail letters. They sat down and figured out taxes, fees, licenses, laws, regulations, and marketing. And, one of them did it before the internet was available. The one who started up later didn't even think about calling her good friend for business advice or simple information that she could learn on her own!
One of them started her business when she was 28 years and the other friend started her business 15 years ago. Both had worked in businesses or banking where they learned about about bookkeeping and the BUSINESS part to figure out how to get started. They also learned from making mistakes.
When they were building their businesses, they worked 16-20 hours a day until they could hire help. Eventually they hired lawyers and accountants. They both employ around 15 full-time employees now. One of them tithes to her church, the other gives back in very significant ways to her community and those in need.
Oh, and they still live a lot like they did "way back when". For instance, they favor Target clothes over high end clothing and make a lot of their Christmas gifts. One of them takes care of all the yard work and the garden. Neither have anyone taking care of their homes or vacation homes. They do it all. Their husbands still get their hands dirty every day at work. They have nice homes, but they are not mansions filled with baubles. The one thing that has changed, though, is that they don't still bring their toddlers to the other's house so that they can spend a day doing each other's hair and saving $200 on a hair appointment.  They do go to a salon now.
I don't have "the facts" to prove this; I gleaned this from "interviewing" them while we were making breakfast.
Starting a business is not magic, but it takes someone willing to do a lot of thinking, investigative work, and physical labor.
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Reply by MW/VA on 7/22/13 8:17am
Msg #477650
Thanks, Brenda. Yes, it take a lot of time & effort to
build any business. Unfortunately, a lot of people fall for "get rich quick schemes", which are only designed to separate you from your money. ;-)
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