How do you know how big to start?

MenyMeny Posts: 5subscriber
edited April 2006 in Business Planning
Hello, I curently own a succseesfull built business, but I`m now starting  a new service business. I need advise from the pros how do you know what is the most you could spend and should be called START UP MONEY (part of the investment) when investing in a new idea?

Comments

  • NuevolutionNuevolution Posts: 30subscriber Bronze Level Member
    How do you know how big to start? Ehhh, it`s like asking how do you build a house do you first start by adding a roof and windows or do you need a foundation?That is what I made out of your question, but the best practice is start small grow big. Now if the funds are there be careful and make wise decisions, because you have funding doesn`t mean you will generate the money you just put in to your business. That is why I think you should start small. Now as far as knowing how much to use for your start up, it depends how much funding do you need to get your business of the ground. you should make a starting up expense report. for example, office lease, registering the business, computers, printers, marketing, business cards, telephone numbers and so forth. Once you have your expense report you will see how much you will need
  • MenyMeny Posts: 5subscriber
    Thanks for the reply, My qustion is how do you know whats counted as min to start....
  • NuevolutionNuevolution Posts: 30subscriber Bronze Level Member
    Well first of all what type of service are you starting what type of business? you never told us that part
  • NuevolutionNuevolution Posts: 30subscriber Bronze Level Member
    Ok, I uderstand your business, well have you tried getting in touch with Avaya? or a company that does PBX phone systems? I believe  this might be your best bet since you offer professional answering services. try these out to see if they fit your needs:http://www.teleplaza.com/Telephony/Computer/acd.html</A>
    try these companies, to see what their fees are on  a mothly basis, then check what it costs to lease an office, especially if you are offering virtual office how many offices do you need. You need to come up with the ball park numbers
  • MenyMeny Posts: 5subscriber
    Thanx for your help, will check it out.
  • NuevolutionNuevolution Posts: 30subscriber Bronze Level Member
    From my personal experience and new corporations being born, there is lots of companies offering virtual offices, especially in Nevada. It is very common for someone out of state to incorporate in Nevada, have a registered agent in Nevada, the registered agent is responsible for opeing the corporations bank account, they give you a nevada number but it routes to the number of your choice for example in California. Virtual Offices are also good for small home based businesses to hold meeting with clients and so forth. Now as far as someone to answer the phones Currently I am under staffed and I think I`m gonna be meny`s first client.
  • MenyMeny Posts: 5subscriber
    Great, I will opening up in a few weeks, I will give you a special price for that kind words! Thanks alot!
  • MenyMeny Posts: 5subscriber
    Do you not need to know what the demand is in the market place?
    I do know, since I work in the marketing biz now I had some of my clients talk me into this to served them!
  • getridofsoregetridofsore Posts: 0subscriber
    I think you should start small. Now as far as knowing how much to use for your start up, it depends how much funding do you need to get your business of the ground. you should make a starting up expense report. for example, office lease, registering the business, computers, printers, marketing, business cards, telephone numbers and so forth.
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