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Starting a small business

5,222 Views | 25 Replies | Last: 7 yr ago by Yesterday
AgBQ-00
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AG
I am starting a small business. Something I want to start to make some money on the side in hopes that it can grow into full time. Does anyone have any good books or resources you would recommend for a first time entrepreneur?
aggieland09
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AG
Markup & profit: a contractor's guide. This is sort of old but I found it very helpful and it was given by a mentor. I'm in construction but I think it is relevant to any service or consulting type businesses.
AgBQ-00
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AG
Thanks for the suggestion. I will definitely look into it.
Finding X
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Don't start out underfunded.
Figure out exactly how much start up capital you will need to get to your break even point...

Then Triple it and Add 50%
bmfvet
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AG
Traction by Gino Smith
dlp3719
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AG
4 hour work week got me to finally start something after years of thinking about it. Tim Ferriss is arrogant but motivating and makes good points. He is extreme to make his points.

10% Entreprenuer is good too on side businesses. Relatively new book.
SlackerAg
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AG
4 Hour Work Week.
AgBQ-00
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AG
Thanks for the leads. Will take a look at them. All guidance is appreciated
3 Toed Pete
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AG
quote:
Traction by Gino Smith
Big fan of this book and his other stuff but better suited to a company with at least a couple of employees - at least my recollection of it. Good for providing a structure for running a business rather than just jumping from one fire to the next.
3 Toed Pete
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AG
I don't know the op's work background or education, but if you're not pretty familiar with financials and how to read financial statements, I would get a basic book on that to start. You have to know your numbers and what they mean. Focus on understanding cash flow - it is everything in the early years.
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Yesterday
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AG
quote:
I don't know the op's work background or education, but if you're not pretty familiar with financials and how to read financial statements, I would get a basic book on that to start. You have to know your numbers and what they mean. Focus on understanding cash flow - it is everything in the early years.


Absolutely. capital and cash flow are the number one crusher of small businesses.
bmks270
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AG
"Rework" is really good.

And for the advertising side "contagious" is one of my favorite books. This book explains the science of word of mouth and what makes things go viral. I don't run a business but I just really enjoyed the writing style and behavioral science making it one of my favorite books.
anna999
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To start with, read this article on how to effectivelly implement your business ideas - https://www.ogscapital.com/blog/implementing-business-startup-ideas . You'll find tons of useful recommendations there. Always stay creative and pursue your ambition!
The Wonderer
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AG
As everyone has said, get proper capital/loans/lines of credit in place before you even move forward. Under-capitalization is the number one killer of small businesses.

Talk to other like-minded small business owners in your area and/or specialty as well.
AgBQ-00
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AG
Thanks for all of the replies. This is going to be a hobby of mine that I am picking back up. Wanting to sell the items instead of just making them for gifts etc. My plan is to start really small and first grow into a web based business. From there my hope is to grow into a retail shop. But I am wanting to get started on the background reading so that I have the basis to grow from. My work right now is pricing analysis and billing manager. I work for a smaller company out of Dallas. But have a strong background in retail as well.
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91AggieLawyer
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AG
I'll be happy to have lunch with you some time and give you some insight -- legal and managerial. I won't charge you but would ask for future referrals if you find the advice helpful. I've represented and consulted with dozens of small (and other sized) businesses over the years. I'm in the DFW area. August is out; sometime this fall is tough but do-able. (skh _ 91 -- close spaces -- at hotmail).
rynning
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AG
quote:
This is going to be a hobby of mine


Most successful businesses aren't secret. What exactly are you talking about here?

And congrats and good luck!
AgBQ-00
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AG
I appreciate the offer. Will take you up on that sometime in September October.
AgBQ-00
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I will let everyone know when the time comes. Right now I am in research mode, exploring what I will offer to start with and am sourcing material etc. I'm just not ready yet. Thank you for the encouragement!
jaggiemaggie
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91... any chance you're ever in Houston? I'll be happy to buy the lunch for your time.
91AggieLawyer
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Rare, but I get to BCS some. Possibly the week of Thanksgiving this year.
AgSoccer2007
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AG
We ever find out what this was?
olbondgm
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First-time entrepreneurs have a lot on their minds. You have to build your brand, hire your staff, coordinate operations etc. The first thing to do is to prepare a solid business plan with clear goals. The second thing to do is to build a website. Use WordPress theme is you're a non-technical person. Also I encourage you to hire a marketer to promote your products (check out http://thecmoclub.com/ for this purpose ). Good luck!
SUorangeMAN
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I would recommend three books in particular:

The Lean Startup by Eric Ries
To Sell is Human by Daniel Pink
The Art of the Start by Guy Kawasaki

Good luck!
Yesterday
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AG
AgSoccer2007 said:

We ever find out what this was?


Stripclub/Bingo parlor.
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