[bellasmommy]

Hi everybody. I have a little situatation. I have a B.A. in English, and I'm 8 classes away from getting my Masters. My problem is that I really only majored in English because I like to read and write, and even though I have enormous respect for those in education, I really don't think I want to teach. I think that since I am so close to graduating, I will go ahead and get the masters, but what am I going to do? I have always seen myself as a small businesss owner, and I have several completed business plans, but I'm not financially ready to open a business. My question is, what would you do if you were in my shoes? Also, in your opinion, is anyone ever really financially prepared to take on a business? Should I get a loan and pray a lot? I know that if I don't go ahead with my plans for the business I might regret it, but I am prepared for teaching and it seems more practical. Should I be practical or follow my heart? I know it sounds silly, but I just have a gut feeling that my business would really take off, I just don't know anything about Small Business Loans, or how you pay your bills until the business starts to turn a profit. Sorry this post is so long, I guess I needed to get that off my chest. Thanks

 

[nataliecmu]

What kind of business are you looking at opening up?

 

[bellasmommy]

Originally posted by nataliecmu@Jun 16 2005, 10:53 AM
What kind of business are you looking at opening up?
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[/QUOTE]

I would love to open up a store similar to Glamour Dog, but in Wichita Falls, TX. We have over 104,000 people, and lots of tiny dogs. I think that if I am picky about what I carry, I could really make a mint. Plus, Bella could come to work with me. I didn't divulge the type of business before, only because I thought that would cloud everyones judgement, since we all obviously love our pets so much

I know that I am biased since I am so close to my Bella, so I did go out and check out the competition. We only have a Petco here, no cute collars, carriers, nothing. What do you think?

 

[Mystify79]

 

[bellasmommy]

Originally posted by Mystify79@Jun 16 2005, 11:07 AM
Wow.. you sound so much like me.  I've got a Bachelors in History and English and am working towards my Masters in History and I also have no intention of wanting to teach and my sister and I have also been kicking around the idea of starting a business... I'll be interested to hear what advice you get here because I have no idea what to do either.  

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[/QUOTE]

I'm relieved I'm not the only one in this boat

Its scary, but I have done so much research, I think I understand more about taxes and permits than most people who already have a business, I'm just too scared and broke. I can't decide if its worth the risk. Oh well, at least I have proven to myself that I have great research skills

What kind of business would you like to start? You don't have to tell me if you don't want, especially if you have invented something or are thinking about doing something completely new and original, I understand

 

[Chelsey]

I also have my own business right now it is very small I had my product in a store craft store for a while and did the rest out of home. The store took care of everything all I had to do was pay the monthly fee and restock. Well now the store has closed down. I have not been marketing my product as much because I have had health issues since the beginning of the year. I refuse to task out a loan because my girlfriend did that and had to claim bankruptcy after one year and it also hit her personally in the pocket.
She had partners that took off with money and left her in big debt. It's a shame as her business was doing so well.

I would love to get my products out there in a big way, but with work and family it is very hard to find the extra time to market my products.

I wish you both the great success. Do what you really want to with your life.
If you don't take the chance you will never know if you could have done it.
If you have the feeling it will be successful I say go for it. The hard part is of course the startup cost.
Since you are really good with business plans maybe you could do that on the side to make money for your real business. There are lots of people out there that need help in that area.

 

[dhodina]

I feel I can add some input to this. You both are just like my husband and I were years ago. We both were college educated I had just finished my MBA and we both hated our jobs. We had always dreamed of starting our own business, we did the research and had many different ideas. We finally settled on two ideas and started out. It took us 5 yrs to actually clear a true profit. It was alot of hard work, time and energy. Keep in mind both of us were also working full time in our "real" jobs. It was tough and I dont' know if we would have been successful if we didn't have our "real" job income to keep us afloat and allow us to put all money we made back into the buisnesses. I think the one reason we made it and were finally successful we now have real employees not just the two of us, is that we didn't go into debt to do it we dumped everything we made back into it and let it grow at a natural rate not forcing ourselves to go to big to fast. Having a "real" job while starting your own business is a good thing as well because it takes the financial pressure off and if your company doesn't make it you are not going to be financially hurt.

 

[Boom Boom's Mom]

Originally posted by bellasmommy@Jun 16 2005, 10:46 AM
Hi everybody.  I have a little situatation.  I have a B.A. in English, and I'm 8 classes away form getting my Masters.  My problem is that I really only majored in English because I like to read and write, and even though I have enormous respect for those in education, I really don't think I want to teach.

....

  I know that if I don't go ahead with my plans for the business I might regret it, but I am prepared for teaching and it seems more practical.  Should I be practical or follow my heart?
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[/QUOTE]


This may sound a lil mean or something but if your heart isnt in teaching it isnt fair to a lot of people. Most particularly to the students. Teaching's tough, trust me I know. If you dont think you want to teach then definitely don't do it. For me its a happy tired. For you it could easily become a bitter tired. Teacher who don't WANT to teach don't teach well. Please don't fall into that mess..


On the other side of things, good luck with your business. I think you'll find if that's where your desire is you'll succeed.

 

[Chelsey]

Originally posted by dhodina@Jun 16 2005, 12:52 PM
I feel I can add some input to this.  You both are just like my husband and I were years ago.  We both were college educated I had just finished my MBA and we both hated our jobs.  We had always dreamed of starting our own business, we did the research and had many different ideas.  We finally settled on two ideas and started out.  It took us 5 yrs to actually clear a true profit.  It was alot of hard work, time and energy.  Keep in mind both of us were also working full time in our "real" jobs.  It was tough and I dont' know if we would have been successful if we didn't have our "real" job income to keep us afloat and allow us to put all money we made back into the buisnesses.  I think the one reason we made it and were finally successful we now have real employees not just the two of us, is that we didn't go into debt to do it we dumped everything we made back into it and let it grow at a natural rate not forcing ourselves to go to big to fast.  Having a "real" job while starting your own business is a good thing as well because it takes the financial pressure off and if your company doesn't make it you are not going to be financially hurt.
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I definably agree with you there. I'm ok now with my business because I still have my real job and I did not loose any money from my business because of loan and stuff.
That's why right now even though I’m sick; I’m not suffering because my business is not running. I'm also not loosing anything because I have no debt to pay back. Anything I need for the company came out of money I saved from sales I made.
My first year I did very well considering I did not have my own store or internet .It was all word of mouth. I still have regular customers that just send me an email and I will still provide them the products. Since you are really good with business plans maybe you could do that on the side to make money for your real business. There are lots of people out there that need help in that area. I guess I should correct myself or explain better. My day to day job I love it. It took me a long time to find out what I like to do.
Before I had a job just to pay the bills and I was miserable. Now I enjoy my work as well. I also have my own business as well and love it. I also know if my business does not work out for me. It will not hit me financially/personally. They say it task 5 years to show a true profit from your buissiness so you have to be prepare for that.

 

[Mystify79]

 

[thinkpink]

We are considering going into wedding consulting. There's a huge market it for it here and I think it would be an awesome opportunity. Our planning is just in the idea /research stage right now to see if it's even a possibility.[/B]

I got so excited when I saw that! We don't have many of those where I live. I got my wedding consultant certification a year ago and I just did my first wedding this past weekend! The best thing about this business is that there is little to no start up cost. Like I said I've just started but if you have questions I'd love to help!

 

[dhodina]

Originally posted by tiffany@Jun 16 2005, 12:37 PM
QUOTE

We are considering going into wedding consulting. There's a huge market it for it here and I think it would be an awesome opportunity. Our planning is just in the idea /research stage right now to see if it's even a possibility.

I got so excited when I saw that! We don't have many of those where I live. I got my wedding consultant certification a year ago and I just did my first wedding this past weekend! The best thing about this business is that there is little to no start up cost. Like I said I've just started but if you have questions I'd love to help!
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[/B][/QUOTE]


One thing to look at though if there aren't any similar businesses in your area you need to find out why. Is it because others have tried and there isn't enough interest or because it is a new idea for your area. If so you need to really do your research and find out how people in that area would feel about your idea and would they use it.

 

[bellasmommy]

Originally posted by Boom Boom's Mom+Jun 16 2005, 12:06 PM-->

<!--QuoteBegin-bellasmommy

@Jun 16 2005, 10:46 AM
Hi everybody.  I have a little situatation.  I have a B.A. in English, and I'm 8 classes away form getting my Masters.  My problem is that I really only majored in English because I like to read and write, and even though I have enormous respect for those in education, I really don't think I want to teach.

....

  I know that if I don't go ahead with my plans for the business I might regret it, but I am prepared for teaching and it seems more practical.  Should I be practical or follow my heart?
<div align="right">index.php?act=findpost&pid=73046

This may sound a lil mean or something but if your heart isnt in teaching it isnt fair to a lot of people. Most particularly to the students. Teaching's tough, trust me I know. If you dont think you want to teach then definitely don't do it. For me its a happy tired. For you it could easily become a bitter tired. Teacher who don't WANT to teach don't teach well. Please don't fall into that mess..


On the other side of things, good luck with your business. I think you'll find if that's where your desire is you'll succeed.
<div align="right">index.php?act=findpost&pid=73077
[/B][/QUOTE]


I should have added that my grandmother was a teacher for more than twenty years and I have taught before, so I have a lot of respect for the profession. I think I would be happy teaching at the college level, because I love my subject area and I enjoy helping other people, but my greatest concern is a financial one....what if I spend five more years obtaining a PhD and spend all that money only to figure out one day that I would have been a good business woman? I guess I just have a fear of the unknown and I can't decide what would be best long-term. Thanks for wishing me luck

 

[bellasmommy]

Originally posted by dhodina@Jun 16 2005, 11:52 AM
I feel I can add some input to this.  You both are just like my husband and I were years ago.  We both were college educated I had just finished my MBA and we both hated our jobs.  We had always dreamed of starting our own business, we did the research and had many different ideas.  We finally settled on two ideas and started out.  It took us 5 yrs to actually clear a true profit.  It was alot of hard work, time and energy.  Keep in mind both of us were also working full time in our "real" jobs.  It was tough and I dont' know if we would have been successful if we didn't have our "real" job income to keep us afloat and allow us to put all money we made back into the buisnesses.  I think the one reason we made it and were finally successful we now have real employees not just the two of us, is that we didn't go into debt to do it we dumped everything we made back into it and let it grow at a natural rate not forcing ourselves to go to big to fast.  Having a "real" job while starting your own business is a good thing as well because it takes the financial pressure off and if your company doesn't make it you are not going to be financially hurt.
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[/QUOTE]

Thanks very much for sharing your experience. If I do someday get a job teaching, I can't imagine how I could also run a business at the same time. How did you balance both? I won't have money to hire employees at first, but I can't be at work and at my business at the same time, how did you do it? I don't think that would work for me, since teaching takes sooooo much planning. Any ideas? Thanks again

 

[dhodina]

Thanks very much for sharing your experience. If I do someday get a job teaching, I can't imagine how I could also run a business at the same time. How did you balance both? I won't have money to hire employees at first, but I can't be at work and at my business at the same time, how did you do it? I don't think that would work for me, since teaching takes sooooo much planning. Any ideas? Thanks again
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[/QUOTE]


Let me explain and give a little background, we own a commercial janitorial service and a telecommunications consulting firm. I do all of the books, marketing, advertising, management and basic "office" type work. My husband does the phyiscal part of the jobs. Both of us worked full time, but had the good fortune to have flexible jobs so if we needed time off in the middle of the day we took it. We didn't have any outside employee's until about a year ago. We did all the work ourselves. After working all day my husband or I would go do the cleaning at the offices we had contracts with while the other stayed home and played parent. With the consulting we have mostly maintenance contracts so that when something breaks we fix it within 24 hours. It was tiring, stressfull, an insane amount of work, and overall worth it. We now have the financial freedom we both wanted and will more than likely be quitting our real jobs in the next year or so. I think the only thing that got us thru it all was team work and knowing we were sacraficing for a greater goal. That even though we had NO time to ourselves or to relax it would pay off one day. With opening a boutique for dogs I would think that doing a website first to get some money coming in with little effort would be the way to start then move to a physical store. I would think Glamour dog would have some great advice on how to go about opening a pet boutique.

 

[bellasmommy]

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[/QUOTE] I would think Glamour dog would have some great advice on how to go about opening a pet boutique.
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[/QUOTE]

I think I will ask them, beause it cant hurt right? I'm not getting my hopes up though, because they are just a few hours from where I want to open my store

 

[dhodina]

The worst anyone can ever do is say no. But you won't know unless you ask.

 

[kodie]

As some of you know I'm starting a business like Glamour Dogs as well. I have done A LOT of research... starting a business is expensive. I dont think a lot of people are ever completely financially ready to start a business. My parents actually have their own business for over 25yrs now. My dad worked at this company when he was only 18yrs old and adventually became partners with the new owners. He then wanted to buy out his partner and own the whole building so he didnt have to pay rent to someone. Well... my parents were NOT financially ready. They lived on my moms pay check for while and they borrowed money from my god-mother. It took them 15yrs to pay my god-mother the whole loan back. My point is its better to borrow from someone you know than take out a real loan... you have to worry about interest. My parents are helping me with my new business and said people that dont use mostly all cash to start a business... dont make it. I dunno how true that is but I can see some truth to that. I know with my business... which is going to be an online store... is alittle different than a REAL actual store because you have to worry about rent and such... instead of rent I have web hosting charges... which are cheeper than rent... but I'm trying to buy all my inventory in CASH. I find this business kinda expensive because if you want to carry 5 different styles of shirts... you have to buy all sizes for EACH style! The companies I am dealing with sometimes have 11 different sizes!! American companies have only about 5 different sizes for each style.

I always wanted to open an actual store with my dog stuff and have kodie there... ya know.. but I'm starting out with only an online business... and who knows... after I make a profit, I might open an actual store too. I just think you have to have a good product (something no one else has), and money to start the business. I am working a full time job as a software tester (my degree is computer science)... I dont really care for this type of work ...so I am only doing this job to get money to start the business I REALLY wanna do! Maybe you should do the same type of thing.

I hope this all makes sense.. I have a hard time expressing myself online. -_-

I was wondering if your concerned about the business making it in your area?

 

[bellasmommy]

Originally posted by Kodie@Jun 17 2005, 09:52 AM
I was wondering if your concerned about the business making it in your area?
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[/QUOTE]

Good Luck with your business

I think that I have plenty of potential customers. The people here seem just as smitten with their small dogs as i am with mine, but we are all stuck paying shipping charges or we're driving forever to buy for them. I know there are lots of small dogs, becsue we have at least fifteen groomers in the area who only groom small dogs. I know that I could make a profit, I'm just having trouble making that leap, its such a big decision anyway, and then when I think of all the money it will take it just makes my stomach ache

I also have a little moral dilemma to contend with, a relative of mine has paid for a lot of my college education, and wants me to be a professor. However, I don't really want that, but I understand why he wants that for me. My grandfather (the relative whos helping me) is a business man, and has been running his own business since before I was born. I wonder why he woudn't want me to run a business, but he is a very wise man and I know he wants the best for me. I'm afraid that if I start a business instead of teaching he will be dissapointed. Also, I don't think he realizes how difficult it would be for me to obtain a PhD. To further complicate matters, I think I might like teaching at the college level, its just not what I want. Everytime I think seriously about starting the business I just feel incredibly selfish. Sorry I got a little carried away and wrote for so long, just have a lot on my mind.

 

[paris]

I know it's easier to say this to someone else but, if you don't try then you will never know if it would have worked. Life is short...maybe you can talk to your grandfather and explain how you feel. I'm sure he would want you to be happy.