Have /biz/ started their own business, do you plan to? What was

I want to start my own business as well, but pretty clueless on where I should start. I have a Finance/Accounting degree and experience as an accountant.

I would like to just buy/sell goods to make a profit, but my knowledge of advertising is next to nothing.

Anyone have suggestions on sites I can sell products on where advertisement isn't necessary? Sounds like it would be extremely difficult to make a profit on Ebay woth the cut they take.

>>1635891
I think it's a good idea. First off you should make yourself known. Flyers are a good way - just spot the houses that need it badly (supply and demand classic). It's all about finding the customers that need your service and making them see that. Fb ads could probably help.

Be faster, cheaper, or better than the competition. Or all three combined.

When you start to do it well, others will ask about you and you'll get yourself new customers. In no time you'll go from painting houses to buying them, refurbishing them completely and selling them for a profit.

>>1635920
>buy/sell goods to make a profit
Yeah, I'd also like to do something like this. Although, like you, I wouldn't know where to start aside from finding semi-decent things being undervalued at fairs or garage sales; then selling those online.

What is the cut that Ebay takes from sales? How is that some things like electronics can get sold for less than a dollar, how can that even be a profitable model?
I find internet-based businesses unusual, and prefer ones which aren't based on the internet. This is mainly because I have more experience on ones which aren't based on the internet, from my parents.

Importing/Exporting is also a very profitable business, but it requires a lot more capital than I can afford.

>>1635925
Yep, that's precisely the plan. Once I get through my first few customers, it'll be much easier since it'll just snowball.

I'm just going to spend these holidays developing my knowledge and doing some painting for family, etc.. so I am familiar and professional when it comes to doing it for customers, since good professionalism and finished product is basically the only way the business could survive against the bigger fish.

And yeah, speaking of property investment that's one of my long-term goals (when I have enough for a deposit, etc..). This painting business is just a means to an end, namely, property investment.

1.Competing for low prices is the worst way to compete. Because you cannot guarantee your niche. And there are always people who are willing to work for less than you. And the worst part is you'll have a much harder time staying afloat if something happens.

2. If you earn your money by selling your hours, then you cannot earn a lot of money. So your business idea does not lend itself to getting rich, but is more of a job replacement. You can however change this game up by hiring people who work for you. Then you can scale.

>>1635934
1. Well, that's the thing, there's very little cost involved in staying afloat as a business. The company would own very little. Even a dry season in customers would not be a problem, as I would not rent any equipment. How else would you suggest I compete against more established painting firms? And I have enough to survive if I did not have any work.

2. Yeah, that's the idea. It will primarily function as a job replacement, and not something to get rich off. If it serves a stable, and lucrative business model I would definitely consider taking on an employee or two and scaling up from there. This is what I'm aiming for, since that's the way to start earning real profit.

>>1635933
You have to be dedicate if you want to do this though. I'm an accountant at a very small cabling company, and my boss has been in business for 15 years, works pretty much 24/7 and is just now starting to see his business grow to be self dependent.

He started out by himself as a technician and very slowly grew his base to the point that he needed another tech.

like >>1635934 said, it will just be a job replacement until the business grows large enough to even have the need to hire someone else. You will likely have to do this part time until you make enough to sustain yourself.

>>1635943
>1
Compete on value. Competing on price is a race to the bottom.

>>1635927
Goodwill Salvation army etc.

>>1635943
>>1635969
Consumers rate their purchases based off the value they get for their purchase, so starting out if he can push a passable product for cheaper than other service providers, than that's how he can start his base. Once a base is established, you can start focusing more on the quality of work and loyal consumers will come with that assurance, knowing they are paying for a well done job.

There are plenty of people out there that would like to have a painter that they have in their phone that they can call, knowing they are getting a good quality service for a reasonable price without wasting time researching painting companies to purchase services from.

>>1636010
>There are plenty of people out there that would like to have a painter that they have in their phone that they can call, knowing they are getting a good quality service for a reasonable price without wasting time researching painting companies to purchase services from.

This is pretty much why people stick with the same banks, insurance, internet provider, etc.. even though they can get cheaper for better from other companies. People like what's familiar to them, and also it takes time researching new businesses, new paperwork, etc.. to change, so many just stick with something that's counter-intuitive.

>>1635891
i did, going strong so far. Pretty easy to be honest. >>1635920
Pretty much 80% of my profit comes from reselling stuff. What are the goods you are looking into?

>>1636025
What sorts of things do you resell?

>>1636036
Recently started on clothing, but mainly industrial wood stuff

>>1636040
1. Did you have any knowledge of these products before you started selling them?

2. Where did you originally purchase the products from when you started up?

3. How did you sell your products when you started up, and how do you sell them now?

>>1636049
1. Clothing i know jack shit about, friend works at a factory so i got a connect there. Wood stuff i knew previously.
2. Clothing from factory. Wood stuffs from factories, refined it or just simply sold it to locals with a mark up
3. Clothing i just distribute to shops. Wood stuff -small businesses and private clients through fliers at the beginning then word of mouth

>>1635943
>I would definitely consider taking on an employee or two and scaling up from there. This is what I'm aiming for, since that's the way to start earning real profit.
once you hit that point you'll find your prices are the same as the other guys. Suddenly you won't see them as expensive because you'll know where that money goes.

also your profit margins drop when you shift from self-employed to employing others. They don't usually even up again until you've got enough work for 3-5 people, somewhere in that range. You can ease that by only adding people when you have the income for it, but that means you'll be working in your biz for years or even decades, and half of the time you'll be doing two people's work unless you can find people that want part time to start.