Tuesday, July 22, 2008

Starting a Business

I received a comment about starting businesses with a question about how to decide if you should buy or start your own business and how to do it. Here is my reply:

I think that the best way to start a business is to look for a need in the marketplace that no one else is filling. Can you fill it?

To buy a business is a bit different. You could invest in a start-up that you believe in and become a hands-on manager, using your special skills. You can find businesses at local venture fairs.

There are also franchise fairs and business brokers. If you get involved with either of those, get yourself a good business lawyer and do lots of research and ask lots of questions.

Consultants like me can coach you through the process.

Thanks for your comments.