Solo startup need advice

Akinon93Akinon93 subscriber Posts: 1 Member
edited January 2016 in Thought Leadership
Edit: I found a local SBDC I believe can help me more accurately, thanks to anyone who took the time to read this though.

Hello everyone, so I found this website in pursuit of getting some advice. I'm looking towards starting a business, kinda, by myself. Essentially, I'm looking to start an online store, maybe start with ebay but eventually get my own website (I'm a self-taught web developer, so making a website is simply a matter of time not money/skill). I have a professional email through my own domain, so I'm good there.

What I'm wondering is, what kind of licenses do I need? I'm doing this solo, so no employees or anything like that, I have researched and found some avenues for product and have a bit of money saved up I should be able to at least get a jump start. However, I'm unsure of what all licenses I need to get, if I need to register as a business or as something else? I've been trying to research this information, looking on my state's official website for applying for business licenses and such, but I've had little luck. I'm looking to buy bulk goods/broken goods (then repair) in the tech and video game fields, and resell online.

I live in Ohio, btw. I apologize if I've not been too clear, and I appreciate any help anyone can give me.

Comments

  • rmmfreermmfree subscriber Posts: 2
    You can see official information from: http://business.ohio.gov/starting/
    https://wothy.com - Job Search Made Simple
  • Urvi KashyapUrvi Kashyap subscriber Posts: 18 Bronze Level Member
    Hey

    I think your thought of starting up alone is quite a standout point. What I would suggest is to dwell deep and think about it.
    you dont need to get a cofounder but I would suggest you to get a small team because often we end up making wrong decisions when we do it on our own.

    All the best
  • FrankLeeFrankLee subscriber Posts: 32 Bronze Level Member
    It`s risky and difficult without any cofounders. Just think it over
  • Daniel MoayandaDaniel Moayanda Lagos, Nigeriasubscriber Posts: 17 Bronze Level Member
    Yes. The financial planning, field management and lots. It can sometimes be tiring. Meanwhile, starting up with the wrong partner is the quickest way to doom. So, think over it very well and be sure not to make the wrong decision. 

    Warmest.
  • Daniel MoayandaDaniel Moayanda Lagos, Nigeriasubscriber Posts: 17 Bronze Level Member
    Yes. The financial planning, field management and lots. It can sometimes be tiring. Meanwhile, starting up with the wrong partner is the quickest way to doom. So, think over it very well and be sure not to make the wrong decision. 

    Warmest.

  • ChiedoChiedo Harrisonburg, VAsubscriber Posts: 13 Bronze Level Member
    If you're starting an online store, here's what you should do:
    • Talk to your local government in your city and see if you need a business license
    • Register an LLC with the state
    • Set up an EIN with the federal goverment
    • Spend $500 and get an attorney to give you his/her blessing and make sure you have the necessary terms of service documents and any contracts you'll need.
    But practically:

    Make your first $500, and prove your ideas worth it, and then do all that stuff and pay any fines and/or taxes you need to pay to make it right.

    If your business doesn't go as planned, you saved time and money. 
    HAVE A KILLER APP IDEA? We help entrepreneurs build their app ideas and websites. LEARN MORE.
  • m.milliganm.milligan subscriber Posts: 9 Member
    I agree doing your homework is key to doing it correctly. As for partners.... three businesses over the last 30 years. The best thing I ever did was the last business on my own. Partnerships are difficult especially when you are not making money. I would only do a partnership if they had the money that you needed. 
  • okuoku subscriber Posts: 17 Bronze Level Member

    Take massive action -- Don't let fear of failure paralyze you.

  • glamajkglamajk Delhisubscriber Posts: 2 Member

    Solo is the most aggressive approach for startup...never sit back and wait for some partner

  • farukhcasy2farukhcasy2 subscriber Posts: 3 Member

    Hey Im full time Full Stack Developer, I have basic marketing skill and basic selling experience, Im very good at negotiations and pitches/presentation. Basically Im not typical developer, I found interesting area where I can try to build a company on it. Area is B2B for small and mid sizes company, so pretty big market. Last time I presented in small group my pitch of idea, problem and solution. And I get positive feedback.

    Right now I think its time to move to starting asking potential clients on this problem and solutions. Gathering all informations and feedback and then try to create a MVP.

    But everything on early stage, or most of the things I think I can do alone. And learning from my past attempts where first I Created MVP and latter started asking potential clients. Im thinking about getting co-founder which should help me in creation this “startup”. But for now I dont have any person whicg: 1.have time and capacity in his life for it 2. have enough balls to help in 100%. I got few friends which can help me, but more like consultants, with some advice or help i marketing, graphic design etc, but I dont have anyone which can fully commit in this project.

    Do you think its good to start alone and latter find more people?

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