What is stopping you from starting your own business?

[kilaj1]

What you should be looking into is why they close, not just the number of them that close. After I recovered from a failed business I learned a lot, and if i were to do it again, i have no doubts it would be successful.

alot of young business owners think that they should give themselves a 10k salary cause they own the business, orthers fail to reasearh, and some just ahve poor buness sence and listen to the random person rather than a pro.

Statistically most business do fail within the first 2 years...sad to say I fell into those statistics...live and you learn

[Anubis]

Apart from the capital i think u guys need to also bear in mind the period it takes for a small business to start making money.Sometimes up to 5 years depending on the type of business.

That time line on its own is a major turn off. As in regards to money I take it that you are referring to profit?

[MOB-Tools]

You have to believe in what you do. If you do not, then youi will find many reasons why not to do it.

The situation will never be right. if you had money, you probably will not need to start a business. Thus for the most part, you will have to start with less than ideal circumstances.

I tried, and my basic business model is just try to build a good reputation and get word of mouth to build my client base, so I am still doing unlocking after 7 years, plus I have a natural love for electronics.

[danthony]

people make the mistake for real as them get lil profit them use it, instead of invest it........., so they become unreliable sometimes cos of lack of stock, or constanly dont have a particular item.

[dangles]

Its the capital. and also good supplier. for me am interested in selling gadgets. there are alot of unfair people out there so i cannot give them the little cash i ave.

[pcchick]

T he capital to start is the issue.

[Nastrodamus]

Dear Nastro,

You know what.

I think Capital is just an excuse to be lazy. I am saying that because I have been (and still is to some extent) at that stage.

Lack of capital is never a good excuse for not executing a project. It will definetely delay the timeline that you had hoped for and found ideal to execute, but ANY PROJECT with proper planning can be done. The trick is to start RIGHT NOW.

No excuses. THE MERE FACT THAT YOU ARE READING THIS MEANS YOU HAVE ACCESS TO ONE OF THE GREATEST RESOURCE ON EARTH - THE INTERNET.

Right off the bat, the face that you have access and use of the internet, you have a head start that many people who start businesses didnt have.

Many persons complain of lack of Capital or Resource, yet has never joined a credit union, never joined their local Chamber of Commerce, don't even know what JCI is , not a member of the Jamaica Entreprenuer Association, not a member of a community service group like Rotary or Kiwanis, you dont participate in trade shows of the industry that you want to get into - yet you wonder why you dont have access to Capital.

Listen - Money doesn't disappear of the earth, and Thomas De la Rue prints money every day. Digital money is created every day. It is out there to get. If you sit and do nothing, maybe just that will happen. If you try and fall down a couple of times , good , you will know how to handle stress when it comes in the business. Thank God babies dont give up on trying to walk when then fall the first few times. Why do we adults want to do that then?

If capital is the problem then you need to step up and step out of your comfort zone.

Go out there and get it. It is out there. Just make sure you have a plan and for GOD sakes WRITE IT DOWN.


Respect.

Nastro

[RickyRudy]

lack of a vehicle...

[Nastrodamus]

Rudie...how does the lack of a Vehicle affect you from starting your business?

[Bl@ze]

Rudie...how does the lack of a Vehicle affect you from starting your business?

he was planning to do DRIVE-BYS

as for me .....not winning the lotto. which is a direct result of me not buying a ticket