Forums: Discussions for entrepreneurs and small business.

I need some advice/help with a crisis I`m facing trying to get my business off the ground.  I don`t have any family or friends that want to go into business with me or help me.  Can I do it alone?  I have a fiancee` and he is taking care of me financially which has been a tremendous help, but I don`t have any assistance with the day-to-day operations and his savings (and patience) is running thin.  Is there anyone that has been in a similar situation?  Do I need to go back to work and try this again later?  I don`t know what to do?

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The Cheesecake Lady

I`m actually in the exact same position.  I was hoping to open my start-up on my own in 2007, but with paying for the wedding ourselves, there`s no money to start a business.  I`m having to work for another year and I`m not happy about it.

First off, do you have a very clear and well-written business plan?  You need to read the article called 10 Steps to Open for Business and honestly assess yourself, your business idea and where you currently stand.  I think you`ll get the answers to your questions.  We can`t tell you if you need to go back to work or if you need a business partner, but a business plan can give you a clear direction.  http://www.startupnation.com/pages/start/10Steps.asp

This is just my personal two cents, but you don`t want to put too much strain on your new marriage.  Opening your own business is a huge undertaking and you and your new husband need to be committed to the same goals.  Writing a business plan will be good for you personally and professionally so that you and your fiance both know what`s ahead.

Good luck!

Diana

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"Whether you think you can or you think you can`t, you`re right."
paraphrased Henry Ford

Reesee - I want to chime in and second Diana`s comment that you don`t want to put strain on your relationship due to finances. 

One of my niche service offerings as a wedding consultant is helping newlyweds (or soon-to-be newlyweds) determine their joint financial goals and the best way for them to achieve their goals.  It`s a good match for a former CPA.  :) 

That said, I think it would be great if you involved your fiance in the life plan section of your 10 steps.  :)

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MeLissa
Independent Chocolatier for Dove Chocolate Discoveries http://www.ChocoRocco.com Facebook: http://www.Facebook.com/ChocoRocco

Reesee* Stay focus and whatever you do, don`t give up. I`m at the new stage of my business and have done a lot of research. I feel like I`m back in Grad school taking business plan 101, marketing analysis 101, and how to start a home business 101.

>>>Melissa, I`m a Bay Area gurl too

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LEARNING IS A LIFE-LONG DEVELOPMENT.

Is your business something that can be done part time? Is your credit good? The SBA has a program that will let you get up to 25,000 to start a business. Being a woman based business will help. If you can get this loan and keep a part time job to pay back the loan, then there shouldn`t be too much stress.

Dear Reesee,

I have been a business consultant for several years and the firm I am with created a "business opportunity survey" one of the questions in this survey is "who is on your entrepreneurship team" if you cannot motivate someone to work with you how are you going to motivate potential clients and customers to purchase your products.  From our firms research of over a thousand local small businesses if you are going to go it alone you have over a 96 percent probability of not lasting five years.

I would strongly recommend that you determine if this business opportunity is more important then your relationship with your fiancee.  If it is not I recommend you seek opportunities elsewhere.

Good luck, I wish you great success and happiness. 

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Erik
www.usspin.com
www.unitedbusinessalliance.com

I am so impressed with all the sincere help and advice you guys offer on this site. I have been logging in each day and am amazed at the vast wealth of knowledge and support that everyone gives each other. Good luck Reesee! I too am at a startup phase and the encouragement here is great.

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Karla

  Hi !!

  I can identify somewhat with your challenges, as I am learning the art of entreprenuership and the type of emotional and financial commitment it requires......of self, and those close to us......I am so independent that it has been new for me asking for help, direction, etc........

 I have always had employment and had no desire to be in business for myself until 911 when the economy busted, and still has not recovered, in colorado anyway.....So I have become closer with people in my intimate circle in part because they have known of my independence and that this chapter of my life is challenging and new and so my financial or informational request of them is genuine and heart needed.

  I say examine your heart in what you want to offer as an entreprenuer, and what character traits are you willing to upgrade or get rid of in yourself to support and grow your business effort....It has been my experience that the people you will attract or those that will exit your life will balance out and set the tone for if you will or will not continue to be an entreprenuer, with or without industry, or personal support.

I hope this helps......Good Luck!!

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