Here are a few questions for the entrepreneurs of sciforums?

1) Have you already started a business?
2) If so, were you successful?
3) Have you ever written a business plan?
4) If so, how long did it take to write it?
5) How much risk can you take?
6) Do you use financial leverage?
7) Do you trade in the stock market?
8) Do you trade in the real estate market?
9) Do you use mathematical formulas to analize business opportunities?
10) Do you have much free time?
11) Do you have a family?
12) Do you work at home?
13) Do you have a system of organization?
14) What do you do to save taxes?
15) If you have a business, what kind of business do you have (sole proprietorship, partnership, corporations...)?
16) Do you have a job (that is, do you work for someone else as well)?
17) How do you deal with stress and insecurity?
18) Do you have a mentor?
19) If so, where did you find him/her?
20) For hw long have you been an entrepreneur?
21) What one advice would you give to a new enterpreneur?
22) What other questions would you ask?

Thank you :)

Btw, I'm very interested in e-commerce. So I wonder if there are any others here interested in that industry.... :)

I followed the advice of River Ape in the "Ways to become wealthy without school" thread!

I opened a stamp shop in central London in 1977 and made myself the THE specialist in British Commonwealth stamps of the reign of King George VI. I worked long hours, and sometimes arranged to pay people to do specific jobs for me, or entered into unofficial partnership, but I never became an employer (and so never grew the business to a big size) because Government regulations and red tape mean that EMPLOYING PEOPLE IS HELL!!!

I was able to semi-retire age 44 in 1988, and have enjoyed a very leisurely lifestyle since that time. Running a business that employs people is for those more desirous of growing mega-rich than me, and for those prepared to accept a lot more stress.

1) Have you already started a business? yes
2) If so, were you successful? yes
3) Have you ever written a business plan? no
4) If so, how long did it take to write it? I said no
5) How much risk can you take? not much for business. but for my goal in life, everything
6) Do you use financial leverage? no
7) Do you trade in the stock market? no way
8) Do you trade in the real estate market? no way
9) Do you use mathematical formulas to analize business opportunities? emm...sometimes
10) Do you have much free time? nooooo
11) Do you have a family? yea
12) Do you work at home? sort'a
13) Do you have a system of organization? yeah
14) What do you do to save taxes? stay below 200$ a month :p
15) If you have a business, what kind of business do you have (sole proprietorship, partnership, corporations...)? sole online
16) Do you have a job (that is, do you work for someone else as well)? no
17) How do you deal with stress and insecurity? I eat alot and than sleep alot
18) Do you have a mentor? no...*sad....*cries....
19) If so, where did you find him/her? I said no....*even more sad....*more tears
20) For hw long have you been an entrepreneur? some time...2 years
21) What one advice would you give to a new enterpreneur? make money
22) What other questions would you ask? I would ask: what is one item online everyone always needs and is looking for that I can buy cheap and seel for more online?

Thank you :) Oh no need to thank me...*blushes....*not really...no blushes....*in fact solid face

In my lifetime my wife and I started 2 businesses, the first did relatively well considering we only worked twice a week. The second did extremely well but we worked very long hours and very hard for the first 7 years, we pissed around for the next 5 while still making loads of dosh and then we retired when I was 37. We receive rents from property and bank interest and will never run out of money.

I wrote business plans, which I never followed:D
I avoid taking risks
I save tax by moving to another country
I have 24/7 free time, which is still not enough
I buy real estate but don't sell readily
I deal with stress by doing creative hobbies that I love
I'm useless with stocks and shares, I lost 100K within 2 months and laughed about it, thankfully it was all profit
I hardly ever use leverage, prefer to make my investments in cash and not borrow
Best advice? Be prepared to work your bollocks off, make the money and invest in land and property, but don't wish to be the richest man in Babylon

21) What one advice would you give to a new enterpreneur?
Just do it.
22) What other questions would you ask?
What was the need to ask all those other questions?

[QUOTE]15) If you have a business, what kind of business do you have (sole proprietorship, partnership, corporations...)? sole online
What kind of online business?

I would ask: what is one item online everyone always needs and is looking for that I can buy cheap and seel for more online?
Huumm... Ok. What is the answer? :D

I buy real estate but don't sell readily
How do you choose what you are going to buy? Did you make downpayments in the beginning?

Just do it.
You are breaching a copyright... :D

What was the need to ask all those other questions?
Market research. ;)

Hi all

i run my own business, and it is bloody hard work...

i dont have money worries as such but the strees it puts on my family is quite considerable as in the fact that i have to work long hours and dont spend as much time with my wife and kids as they would expect or i would like too.

truth seeker i am interested in E-commerce and have some expereince of it in the commercial world, if you want to talk about anything please PM me.


~~~~~~~
take care
zak

Heelo Zak,

Thank you for your offer :)
We might talk. I need to clean my PM first because it is so full.

So you own it but you do all the work? Why do you hire people to do the work for you and expand your business? ;)

Hi truth seeker

I hope you ahd a good weekend

Yes well unfortunately, when you first atke over a business or start on up fresh you should always control your costs, as the higher the costs the larger your overheads. if you ahve large overheads then it is harder to compete as you ahve to facotr in more costs to your proposals/quotes.

this year i have been for ever doing quotes and proposals, and to be honest have not been getting a good sucess rate in picking up the contracts as opposed to previous years. Most of my staff do the production work, where I do the business strategy proposals etc... I also get involved in a hands on role if it is needed.. I will do anything from box splitting to business strategy, if the shit has to be done it has to be done.

Last year i had a very good year, however this year has been not so great, we are satill reasonably profitable but the turnover is down.. Unforuntaly with my line of work it is hard to plan to much ahead, even though you try to the plans has to change as you go along, which is probaly true for all business to a smaller or larger extent.

Perhaps i need to invest heavily in a sales team to get the work ina s this is where we are failling at the moment... We are ghood a retaining clients but it is a hell of a job to get new ones...

Investing in a bigger sales team is risky as you are not guranteed results and even if you did get the contracts in, the jobs you are assigned vary in volume...

ANother thing you ahve to watch out for is your debtors... For small companies this is crucial to maintain cash flow.. As my company works for abotu 15 national UK companies it is ratrher annoying when we have to chase up invoices which are being late paid!!!

~~~~~~~~~~~
take care
zak

Hey Zak,

1) What are you selling?
2) What do your best customers have in common? What are they looking for?

Use this tool to manage your sales team...

http://ganttproject.sourceforge.net/

Also, give incentives to proper or higher performances...

Hey Zak,

1) What are you selling?
2) What do your best customers have in common? What are they looking for?

Hi truthSeeker

i hope you are well and thank you for your questions.

Technically i am not selling anything. what i do is setup and administer and fulfil solutions for my clients, which include companies such as:

Nestle (Inc Rowntrees, and Purina Petcare)
Masterfoods (Inc Mars Confectionery and Pedigree Petfoods)
Cereal Partners
Pepsico / Walkers
Daily Express
MotherCare
and others


i am working on a seervice for Nestle at the moment where we are selling Cups and saucers stc to people who buy a new type opf coffeee machine. And with purina we pitching for business to sell Hampers to cat owners.


Thanl ou for the link you provided me, i will loook at this over the next day or 2.
~~~~~~~~~~~~~
Take care
zak