What's the first bit of advice you would give to some one looking to start a small business?

Question

I am interested in starting a small business in my down town area, which is growing very steadily and is promising. I want to open up a coffee shop/bakery, but have no clue where to start. I don't have a lot of money to invest initialy, so I have lots of questions about investors. Any information would be helpful!

Answer 1

if you dont have money to invest you can start with a little minimum investment of $100 at Currency Trading, the biggest and most exciting market on earth,offers you countless opportunities!The Euro-US-Dollar rate is constantly changing, usually in small movements. Daily fluctuations around 1% are quite common. In Forex trading, when you invest with a 1:100 “leverage”, changes of, say, 1.2% turn to 120%, during a single day, even hours or minutes! You may profit unlimited amounts, but if the exchange rate moves against your favor, you lose not more than your initial investment.A small change in the dollar rate can be a big opportunity for you and that's a way to start doubling your little income to a major one and then invest on you koffeeshop...see link here http://tinyurl.com/6q5ovw  

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The investor's goal in Forex trading is to profit from foreign currency movements. Forex trading or currency trading is always done in currency pairs. For example, the exchange rate of EUR/USD on Aug 26th, 2003 was 1.0857. This number is also referred to as a "Forex rate" or just "rate" for short. If the investor had bought 1000 euros on that date, he would have paid 1085.70 U.S. dollars. One year later, the Forex rate was 1.2083, which means that the value of the euro (the numerator of the EUR/USD ratio) increased in relation to the U.S. dollar. The investor could now sell the

1000 euros in order to receive 1208.30 dollars

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this is the best answer you can get here on yahoo Q&A...better than that you won't and it's only time waste...bad for your money...see you at forex hopefully

Answer 2

Go read the book "The E-myth"

This book will surely open your eyes.

Answer 3

Read this article on things you should think about before opening the doors to any small business

http://www.americasbestcompanies.com/blo...

Answer 4

make a feasibility study on what business you are going to put up. And think of the type of market and the target customers you would like to have.

Answer 5

Write a business plan. Go to your local bookstore and buy a book about it. There will be several to choose from in the business section. Writing a business plan will force you to do the research and calculations necessary to plan your business venture. Plus, if you need to approach a bank about a business loan, they will ask for some sort of plan anyway. Doing this will make sure you've thought everything through.