Matrix

I have no business degree and want to start a business. I do have basic business education, a burning desire to start a business, and some cash, enough for the kind of business I plan to start.

The problem is this: I have an uncle whom I thought would be a mentor to me. But he wants to / hints that he wants me to start the new venture (mine) in partnership with him. He aint a bad guy…but mom tells me otherwise not to involve biusiness with relationship. She knows my uncle (her brother), more but sometimes her dicissions are emotional rather than logical . Uncle has been in business for more than 17 years.

What do I do. Should or shoudnt I make him my partner.

By the way Im 23 and I live in India whereas my uncle lives in America. I want to establish the business in India.
Thanks u guys! What informative and thoughtful answers. Before I was about to ask I was apprehansive about how could anyone understand my situation but now I know I did the right thing

Bes of luk to both Samir and edouble!
P.S: thats what I like so much about the business community.

Partnerships can be tricky in the best of situations, with an older relative half way around the world, it could be pretty tough.

If you think he may try to dominate the partnership claiming his many years experience versus your lack of it, you could end up very unhappy.

Business experience is a funny thing, I bought my company two years ago and took it from a company that wasn’t making money to one that’s making quite a bit of money. How did I do that? well the former owner despite the fact that he had worked in the field his whole life, over forty years, and ran the company for twelve, had allot of gaps in his general knowledge of how to run a business.
His years of experience weren’t worth much, they just kept him afloat.
You seem to be an intelligent person, you don’t need a degree in business to be successful in business. Keep your eyes and your mind open, and your cost low and you’ll do fine.

Tell your uncle you value his advise and hope he will help you but you need to do it yourself, make your own mistakes, that’s the only way to learn.

Good Luck

I’m begining to think more and more about starting a small freelance business from my home. It won’t be retail, but rather a freelance service. I’m looking into courses I can take, but failing that, is there anything I need to keep in mind before going headlong into this and registering the business? Like paying taxes, claiming business expenses, etc?

The Government of Ontario has several informative guides that can help you decide on how to go about starting a business in Ontario:

http://www.gov.on.ca/ont/portal/!ut/p/.cmd/cs/.ce/7_0_A/.s/7_0_252/_s.7_0_A/7_0_252/_l/en?docid=004475
http://www.cbs.gov.on.ca/MCBS/english/starting_business.htm

How can I start business of railway booking online in mumbai I need tutorial direction .my contact no is 9867194683

try airtains

I write a business plan for an already established business in my bid to procure financing for its purchase. I am 24 year old university graduate, and I dream of owning my own business. Please help me out, if you can. Thank you in advance.

Before you dream, please hear me out. Do a business valuation to make sure the business is worth what you are going to pay. There is no easy way to value a business, please consult professionals to do a due diligence to make sure the business has potential in the future.

The business plan or in your case a marketing Plan consists of a narrative and several financial worksheets. The narrative template is the body of the plan.
The real value of creating a business or marketing plan is not in having the finished product in hand; rather, the value lies in the process of researching and thinking about your business in a systematic way. The act of planning helps you to think things through thoroughly, study and research if you are not sure of the facts, and look at your ideas critically. It takes time now, but avoids costly, perhaps disastrous, mistakes later.
This business plan is a generic model suitable for all types of businesses. However, you should modify it to suit your particular circumstances.
You will be judged by the quality and appearance of your work as well as by your ideas.

Good luck, do not under estimate the advantages of professional help, especially in the beginning, but finance institutions also like to see some of your own input in the presentation.

I would like to open up a bar for myself. Its a dream I’ve had for years and now that I’m 22 its time to get started. What steps am I going to have to take to realise exactly what has to be done and what is necessary to impress future investors or bankers?

The more detail the better, but I just do not know much about the industry.

So a layout of everything I need to have in a business plan is essential for answering this question.

https://www.goodtogobizplans.com/shoppingcart.asp

These people write business plans for alot of industries. The one above on the link is for a bar. It costs $195.00 which really isn’t bad, you would spend that in time and energy writing it yourself.

http://www.sba.gov/smallbusinessplanner/plan/writeabusinessplan/SERV_WRRITINGBUSPLAN.html

http://www.bplans.com/Sample_Business_Plans/Bar_and_Nightclub_Business_Plans/Bar_and_Tavern_Business_Plan/executive_summary_fc.cfm
http://www.sba.gov/smallbusinessplanner/plan/writeabusinessplan/index.html

Lots of good free information from the Small Business Administration and they have a thing called SCORE, which is a bunch of retired people that are former business professionals and government officials that will help you for free with your business plan and business planning. You have to know a little something about estimating and accounting because you have to gather the costs of all the equipment and things you will need to start up the bar and then you will have to project your future income too. Good luck. Also, check with the Department of Commerce to see if they have any business grants available. The Small Business Administration has small business loans available through your local major banks so ask the people at SCORE about that too.

A friend of mine is planning to apply to join the body.

best thing to do
find employers who would be expected to take such a professional accreditation seriously and ask them if they have heard of it, and do they regard it as relevant or usefull

A friend of mine is planning to apply to join the body.

best thing to do
find employers who would be expected to take such a professional accreditation seriously and ask them if they have heard of it, and do they regard it as relevant or usefull

My friend and I have had a long interest in starting a catering and party planning business. Without taking huge financial risks at this point in time, how does one get started in this business in order for it to lead to a steady part-time or eventually full-time career?

Personally I would work part time and learn from a pro, I wouldn`t tell them I was learning. Then go online and look at other restraunts selling details. and also, I saw a forum somewhere with that thread.
Do a search on it.

My friend and I have had a long interest in starting a catering and party planning business. Without taking huge financial risks at this point in time, how does one get started in this business in order for it to lead to a steady part-time or eventually full-time career?

Personally I would work part time and learn from a pro, I wouldn`t tell them I was learning. Then go online and look at other restraunts selling details. and also, I saw a forum somewhere with that thread.
Do a search on it.

I’d like to take the leap from working for someone else to working for myself. I have a little start up cash and a lot of ambition. I’d like to hear from people that successfully started their own business. What business did you open? How much start up $ did you need? How long have you been in business? How long did it take for the business to start supporting you and what does it take to sustain that income?

it took me 3 years to become well known in my business
now its fourth year. to be in touch with your customer at frequent interval will help a lot. start looking to cut cost at purchase side and expenses so that u dont need to grow selling price or service charge. it will surely sustain the income.