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/biz/ - Business & Finance

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595646 No.595646 [Reply] [Original]

Are you an entreprenuer?
Do you want to be?

Let's discuss strategies and techniques for making money through the good old fashioned capitalist fashion.
People who are already entrepreneurs, how did you get started, and what have you learned along the way/through trial and error?

I me personally, I get lots of ideas, some good, some bad, some in the middle, but they often involve cash i don't have, and I never know what I can to with no money, so that I have the startup funds for a better idea.
Thoughts?

>> No.595649

>>595646
I'd like to buy a few base ingredients for e-cigarette juices, mix them up and set up an online shop. Probably sounds easier than it is. I'd most likely blow myself up with the chemicals involved, also I'm poor as fuck.

>> No.595661

>>595649
I remember a guy on /biz/ before saying he used to make up the flavours. He had his own company, own shop, then got bought out. He made a few hundred k on it from what I remember.

OP, you have an idea, expand on it. Break it down into a business plan, see how feasible it is. If all is good, approach a bank. If they refuse, what have you lost? Go back to the drawing board and go again.

>> No.595957

>>595661
just go to the bank?
is it that simple?
I'm 23 and I don't have any legit assests, I've always been told that the bank has no interest in loaning money to people w/o a reliable way to get it back, and small business grants/loans seem virtually non-existant these days....

>> No.596566

>>595957
what anon's saying - it doesn't hurt to try showing your business plan to a bank.
if you have no assets, it will be very hard to get a loan, obviously. so your best bet is to save up, maybe try crowd funding or p2p lending. might try VC firms.

a lot of options these days - might as well give it a shot.

>> No.596660

Learn to back your ideas up with hard market research and business know how

I'm 22 and in the same situation but my ideas mostly revolve around improving existing businesses. I want to get into private equity investing

>> No.596677

i'm 20, still working on my degree plan.

I devised a cool game system and a monetization policy that hasn't been done before in the genre. I've convinced my programmer friend to whip me up a prototype and gave him $100 to let me have the asset rights. It looks pretty fucking good, I'm hoping I can show it to some investors and take it a step further to a more professionally published game.

>> No.596682

Is making a site that scrapes webms from 4chan and also lets users upload their own a viable /biz/ idea?

>> No.596731

>>595957
What have you to lose anon? Set up a good business plan, make a really good presentation, and present to your bank manager. He says no, so fucking what? At least now you have the experience to pitch to others.

>> No.596821

What is a good way to access capital? I have a really good idea, but no god damn qualifications.

My dream is to go to college, and I am smart enough to go. But I can't.
This isn't the situation, but the effect of not being able to go to college is the same.

>be 16
>be very poor
>cops pull my family over
>mom has weed, is on probation, doesn't want to go to jail
>gives it to me
>cop finds it, I get felony charges
>all scholarships and aid available to smart, poor kids is unavailable
>can't go to college and can only find shit work
>live in West Virginia

How fucked am I? What do? Where can I find Helium tanks?

>> No.596996

>>596821
>be 16

Well that's your first problem. Get the fuck off this site you underage illiterate.

>> No.597018

I'll share some experience in the subject. From what I have seen and experienced, there are like 3 kinds of business you can get into as an Entrepeneur:

* Services (tech support, accounting services, consulting, etc): Requires the least amount of initial investment, but requires a lot of knowledge in your field of choice. Profits will be slow at first, but will turn into great ones if you hit the nail. Also requires A LOT of networking and referals. If you aren't into sales already, you will need to hire a sales guy or learn to do it. In my opinion, this option is the hardest of them all for a beginner, but it can be done if you meet some criteria.

* Retail and 'wholesaling' (food, gadgets, equipment, etc): You require some considerable investment (the more the better) and knowing where to get good providers and wholesalers, other than that, the only knowledge you will need is getting to know what product to sell. However, as long as you offer a product with demand (there are many) with good customer service, pricing and presentation, it won't matter that much what product you choose (note that I am not talking about online sales here). This is the better option for a beginner in my experience, as there is a balance in initial investment and knowledge required.

* Rental (real estate, machinery, equipment, cars, etc): In my opinion this is the option that has more chances of succeding for an entrepeneur, but it is also the one that requires the bigger investment. You profit from a product that should always be demanded, and also you own it. There is also the fact that nowadays there is a growing market for renting stuff instead of making a big investment to purchase it. If you have the capital I would choose this.

I have done 2 startups (one services, one retail). If you wish I can share my experiences with them.

>> No.597135

>>596996
get some reading comprehension. I later found out I couldn't go to college, which implies I graduated high school and tried to get into college.

If you can go to uni and I can't, it just demonstrates how unfair life has been to me.

>> No.597166

>>597135
Your best bet is to get experience rather than education at this point.

>> No.597168

>>597018
Please do. I think I may have a rental opportunity ahead, but need to do more research for eventual competition. Still, I'd like to hear your experience.

>> No.597171

>>596821
I hate saying this, but I understand (as a Yuropean) that the American military might make a career out of you. Show potential and they push you forward.

I went through the university system and now work around a lot of ex-RAF people. It can be done.

>> No.597172

>>597171
* Aside from that, nothing stopping you from going down the entrepreneur route. No background checks, no nothing, just what you make of yourself.

>> No.597217

>>596821
>felony for weed possesion
>Murrikah
absolutelydisgusting.jpg

>> No.597221

>>596821
Move to Colorado and sell tacos laced with weed.

>> No.597262

Ive done many different types of businesses over the years. Here is some valuable advice to some.

1. Having a great product, good service and attractive package means nothing without proper marketing. Are you a marketing guy? If not, whats your plan when you get this awesome product released?

2. Anyone who is rich is diversified. If you want true stability, you need multiple things making revenue. The true judge of an entrepreneur is how well he picks these from a stability standpoint.

>> No.597271

>>596821
Junk yards sometimes have super cheap helium tanks.

>> No.597277

>>595646
>Are you an entreprenuer?
>Do you want to be?
No and no. If I wanted to gamble my livlihood on sub-10% odds I'd go to a casino. At least there I'd drink for free while I lose all my money.

>> No.597486

>>597221

Burweedos?

>> No.597561

>>595646
Save up money then. Don't you have a job? Too many times I see people thinking they need a huge amount of money to start a business. Start small and upgrade as you go.

>> No.597588

>>597561
The business I want to start is a holdings company or possibly a hedge fund. How do I start small for that?

>> No.597591

>>597588
you can't you need capital, a reputation and contacts

>> No.597607

>>596821
>>597171
get into military, do some tours, get paid, gi joe bill and go to college. you can use the military money to get yourself through college.