Category: Jobs and Employment
I'm seriously thinking of starting up my own business. Namely, a web design business...something to get me off the ground. How can I best go about this? What do I need to keep in mind while taking this up? I'm quite lost and I'd certainly welcome any help.
firstly, suss out the competition. Web design businesses are ten a penny in most parts, so if you do this, what can you offer that your competitors can't?
Secondly, consider the financial implications. Work out what your outgoings are going to be i.e. design software/marketing costs/advertising/hardware etc. Most businesses don't turn a prophit for the first three years or so, can you afford to live like that?
hth
Oh boy, where to begin.
OK first, to start a business you're going to have to consider how you're going to eat before you become profitable.
If you have a day job, great, but you won't be able to devote as much time as possible to your business.
You'll need to get capital after you analyze all your startup costs, you need to learn Excel so you can keep a ledger. You're going to have to prepare to be taxed unvelievably, because part of "taxing the rich" in this country includes taxing the wazzoo out of sole proprietorships.
But before all this, you need to consider ttwo things:
What service am I providing?
Who are my customers?
How am I different from the competition?
Are my differences valuable enough that customers will use my product over others?
Frankly, and I realize this sounds discouraging, but evrybody and their grandmother wants to run a web site business.
This isn't 1996 and the world is no longer dazzled by someone who knows how to code a little bit ... or a *lot bit*.
There are long-time software developers I know personally who, because of the economic downturn, went eighteen months unemployed. Some are still without work, and only on the Zone would be called lazy for not having work.
You need to assess what you have to provide, why you are interested in doing a web site business.
If your idea is more to start a business, and not to build web sites, then perhaps you should rethink your options for what you want to build. You really really don't want to be the new kid on the block in a business where there's lots of competition and lots of capital and few real differences between providers. By real, I mean really noticeable without looking for it.
On the other hand, if your aim is to build web sites, perhaps you may want to consider consulting - where your aim is not selling so much, but selling your services as a contractor to other companies who need someone to come in and put out fires.
Running a business can be fun, it can really suck, and it can do that all at the same time.
I encourage you not to get discouraged by what I put here, but just to think. You're living in economic hard times which means two things: There's not a lot of capital, but on the other hand, a lot of creative thinking can open a door or a niche where you wouldn't have otherwise been inclined to do diligence.
Check with local banks for small business accounts. A lot of times, they make it hard for your first two years. If a business can last over two years, it's got a good chance of making it. Typically most businesses fail in the first two years of operation. Provided you personally learn something and don't starve yourself / your dependents in the process, it may not be a total failure.
Just ask yourself the question you do on your regular job:
- Why should customers notice me (in light of my competition)
and
- Why should they pay for my product (in light of the competition, including maybe free product available)?
And this one you usually don't ask on your regular job unless you're a CFO or otherwise track income:
- What steps do I need to take to ensure my own profitability?
Profit matters, because that's how you and your dependents are gonna eat. Especially if you give up your day job.
Good luck and keep us composted
these are all wise suggestions and I really can't think of anything to add except good luck. As was already said, this is a very bad time economically for doing any of this, particularly when there's so much competition out there. But if this is your dream, by all means, go for it.
Thank you all, this is helpful and a bit scary. Lol perhaps I need to reavaluate certain things. I have much to think about.
I know it won't be easy but I feel I need to make this happen. If not web design than something else in my field. I guess start up is never simple.