Forums: Discussions for entrepreneurs and small business.

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Business Growth Masters, LLC -
Capital Catalysts for Entrepreneurs
Home of the Scalable Business Plan and QuikStart Capital Programs
http://www.bizgrowthmasters.com
info@bizgrowthmasters.com

I agree with both comments above.  Anything you do in your business you should take a minute to evaluate the Return on Investment (ROI).  That ROI is crucial and depending on what it is you purchase for $3,000 it may simply not give you the best bang for your buck.



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Derek - Entrepreneur
Abandoned Word
Abandoned Word is a unique dictionary that allows users to add their own definitions of a word.
http://www.abandonedword.com

If you`re confident that this $3K investment will make the product better, and increase sales, then it comes down to a psychological problem of fear.

You`re afraid that the product might not sell, and the business won`t take off or even work in the first place. Then you`ll have to push it, hoping to build it on marketing hype rather than factual quality. If that`s the case, then you don`t have a viable product in the first place and the business will cycle up...then gradually die of customer apathy.

On the other hand, if you believe in the product and can demonstrate that it has a market, it`s a good idea, saves people time or money, and solves problems, then the better the product the more likely it`ll start to succeed on its own merits. At that point, you`ll make back your initial investment and use the money "again" to increase your marketing.

So: How confident are you in your product? :-)

Hello All,
I will be moving and most likely will not have a job by the time I move. I dread working the normal 9-5 hours and would like to start my own company, preferably online. The problem is I`m having a hard time figuring out exactly what to do. I have lots of interests such as being green (upcycling/recycling), solar -related items, electronics, dogs, sports, to name a few. I love working with my hands and was thinking about possibly creating a new product and selling it. I need help please. Any advice is appreciated. Thanks.

walk dogs

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James Lindon, Ph.D. Patent Attorney
Lindon & Lindon, LLC
Cleveland, Ohio
Patents, Trademarks, Copyrights, Pharmacy Law, Litigation
[this is not legal advice - provided for discussion only]
Intellectual Property for the Individual and Small Business: Identify, Protect, Enforce, Defend.
"Fools rush in where angels fear to tread."
http://www.LindonLaw.com

Hi there :-)
I`m not sure if you`ve looked at various forum categories here on Startup Nation, but your question is about as open-ended as possible. This is, after all, a site about entrepreneurship and starting businesses. When you boil it down, your question is the reason for this site: "How do I start a business?"

My suggestion would be to start with the basics, here on this site. For example, looking at the main menu at Startup Nation, you`ll see a "Step-By-Step" tab. The first item link is the 10 Steps to Open for Business.

Startup Nation was created by the Sloan brothers who started their own business. They wrote a book about it, then formed this web site. The information they put together comes from a significant amount of experience and from talking with countless people who want to start a business.

So the first bit of advice is to take the time to do a little basic reading or research. Many people believe their problem or question is unique, never seen before in the history of mankind. In fact, that`s almost never the case.

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Renee` Rankine
renee.rankine@ranksintl.com
http://www.RanksIntl.com