I’ve decided to begin a small adventure. I hope this will place me one step closer to that Nigh Club. My thought is, I will more than likely be unable to obtain the funds needed without a partner, and partners are inherently a bad idea. You know where you want your business to go; partners get in the way of that. So I need to go at it alone.
The plan is to start a small business with low investment (under a $1000), with a high yield (33-80%). So I plan to use my artistic abilities to do that. I happen to have fallen in a group of people who encouraged me to create particular items for them. I’ve recently come to understand that many people are interested in this same product, so I entend to exploit it. I’ve already generated a large interest and several sales, a clue to the ventures likely success.
My goal is to start small as not to overwhelm myself with high manufacturing demands. Working alone, for a time, will place a great demand on my time, and I want to keep overhead way down. This means no employees other than me, no storefronts, no shop, no bills other than materials. Products will be sold online and mail order. I will place all profits back into the business to increase the output for at least two years (minus a paycheck to keep me alive).
I hope to generate enough income to show a suitable financial investment in the Night Club, intern increase loan worthiness. The great thing is this smaller business is that its directly related to the Night Club’s theme, and so the two businesses will meld together nicely. I could sell the small business’s products to a captive audience in the nightclub while continuing the mail order and internet sales.
I will not state out right what my product is until the patents are secure and I will, the gods willing, announce my success by posting my business website here on 43Things. I’m very excited, and would like to share my experiences with all of you who wish to start your own businesses.
I will tell you right now, I DON’T intent to submit a business plan to any bank, I will not be asking for a loan. I intend to do it all with the funds I make through the sale of my truck. Anywhere from $1000-$1500. Its enough money to get my supplies, and a small enough amount that I will not shoot myself if I fail. Wish me luck. I hope my future posts will help others.