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Want to be an Entrepreneur. What should I do?

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Answers (7)
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Blackstone
Business owner/Entrepreneur
Dallas County, TX

Hi Sachin, You have shown interest in Food products, I own an Innovative Food Company. We have developed couple of Functional Food and Beverage products and in the process of designing a specialty food store. Being an Inventor/entrepreneur myself I can give you lots of guidelines and pass on my experiences to you. I am looking for a Investor/Partner for my Food Company based in LA. If you would like to receive more info please contact: atif.rf@gmail.com

May 12, 2010
Harry & Sally Vaishnav
Angel Business Advisors
President
Oakland County, MI

Sachin

I write a small business blog that provides valuable insights / advice for budding entrepreneurs. Look at
www.angelbusinessadvisors.com/blog

Some other good web sites are from Inc. magazine, WSJ Small Biz, Enterpreneur Magazine.

May 12, 2010
Jon Holmquist
Edgemaster Model 400 sharpener
President
Marion County, OR

Hello Sachin, we have a kindred product serving the restarurant industry. Check it out and see if it sounds interesting. Very low entry price, training, equipment and track record.
www.edgemastermobilesharpening.com for the people doing it now and www.edgemasteroforegon.com for the opportunity information. Thanks, Jon at Edgemaster.

Apr 30, 2010
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Broker Consulting Services
Sr Broker
New York County, NY

Vested Business Brokers' Basic Steps to Buy a Business
Initial Consultation-Learn about how Vested's processes work to help you buy a business
You will want to have a one-on-one consultation via phone with a Vested Business Broker consultant, Joseph Di Bello (jdibello@vestedbb.com) to discuss all of your questions and concerns regarding the processes involved for Vested to help you buy the right business for sale. Joseph is trained to help you with your business concerns as well as your personal concerns. We realize that you are making both a financial and lifestyle decision, and the more we understand your needs, the better we will be able to help you buy the right business for sale.
FREE Buyer Registration-View confidential information about a business for sale
Once all of your concerns have been addressed and you have decided to proceed to use Vested in your quest to buy a business, your Vested Business Broker will help you to register as a business buyer at no charge. This is so you can view all the confidential financial information that you will ultimately need to see in order to feel comfortable when you buy a business.
You will need to either sign a one page confidentiality agreement also referred to as (NDA) non disclosure agreement electronically, or if you prefer, you can fax in the agreement (877-735-7505). In the agreement you promise not to disclose to anyone else any confidential information we may show you about any Vested listed business for sale.
Buyer Profile-Automation that helps you buy a business
Your Vested Business Broker will work with you to create your "buyer profile." This process helps make your search to buy a business more successful. Vested Business Brokers bring in new business for sale listings every day and your completed buyer profile will help our database to automatically flag any new listing that may be a good fit for you. When this happens, both you and your business broker are notified that there is a new small business for sale that you should take a look at.
Viewing Listings-Start online and then request an address of a business for sale
After you and your broker complete your buyer profile and enter it into the system, you can review each business for sale that the system recommends online. We also encourage you to browse through our listings of businesses for sale because often a registered business buyer believes he or she wants to buy a business of one type but ends up buying a business of another type that they simply just didn't think of.
Whenever you have looked in the database at a business for sale that you think may be a good fit, your Vested professional will provide you with the address of the listing so you can do a "drive by." If you prefer, your business broker will go along with you to take a look at the business for sale and address any questions about it that you may have.
Offer To Purchase-Making an offer on a business for sale
If a business for sale seems to be a fit and you have had a chance to think about making an offer (sometimes you may have to make several visits to the business to be certain), your broker will help you fill out a Letter of Intent. The LOI details the price and terms at which you would like to purchase the business for sale and sets the timeframe for due diligence (see below). Here your broker's experience will help you structure and make your best offer.
Due Diligence-Verifying the financials of a business for sale
Once your offer has been accepted, you will conduct a period of research on the business called due diligence. Basically, the process of due diligence takes place over a set period of time where you work with the seller to verify the financials of the business for sale as well as learn the inner workings of the business. Due diligence typically takes two weeks. A buyer should always bring in an attorney and accountant to help during this phase of the purchase. Your broker will be available to assist you during the due diligence process in every way.
Contract & Closing-Your dream to buy a business becomes reality
Following a successful due diligence period in which all of your concerns have been addressed, a contract will be drawn up between you and the seller. Typically, this is done by the attorneys on both sides of the deal. If the contract satisfies all the contingencies you have set forth, you and the seller can sign it and set a closing date. At closing, the business will officially change hands and you will have realized your dream to buy a business. Vested Business Brokers are available for you every step of the way to ensure that you are making informed decisions.
Call
Joseph Di Bello 508-965-8848

Apr 25, 2010
Jon Holmquist
Edgemaster Model 400 sharpener
President
Marion County, OR

You should have some idea of the industry you would like to work in. Open the box of businesses and look at everything. Sometimes things you would never think of will strike your fancy. That has happened to some of our people, a professional violinist is now a sharpener and loving it. A cook is now working on the other side keeping knives sharp. Open your mind and look at many franchises and they can fill you in on most any business. How about the Corporate person who now has a franchise cleaning up after and walking dogs. She love it with no stress or strain. Good luck, Jon at Edgemaster Mobile Sharpening.

Apr 5, 2010
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BKI Corporation
Technology manufacturer
PA

The first step is to know wich are your habilities, background or things that you can do, find a niche in the market related to, and take the advantages from this, then determine how much money did you need to invest to start to play (with a business plan and vision of course) and when you have something to show: raise capital. Its not easy to be an startup but the most important thing is to keep on mind are 1-know your business, 2- know your market, 3-Do Not try to do everything yourself (build a talented team), 4- take care of the numbers 5- Stay focused and 6-never stop to learn and improve for you and your company.

Apr 3, 2010
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Biz2Credit LLC
New York County, NY

Sachin ,

Work in start up or SMB and learn all the intricacies of starting and managing a start up. Get experience in sales , marketing, recruiting and training people as well as having an ability to raise capital - both debt and equity if required.

For your debt capital needs visit www.biz2credit.com which gives option of over 70 lenders and over 140 products.

Apr 3, 2010

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