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The correct way to start a business?

 
 
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Sim
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PostPosted: Fri Nov 16, 2007 8:42 am    Post subject: The correct way to start a business? Reply with quote

What is a correct way to start a succssfull business? I have an idea or a dream to start selling used video games online and offline.

Something similar to: www.estarland.com
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paul
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PostPosted: Fri Nov 16, 2007 10:36 am    Post subject: Reply with quote

Why not just create a site based on their affiliate program?

http://www.estarland.com/index.asp?page=Affiliates
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Sim
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PostPosted: Fri Nov 16, 2007 9:22 pm    Post subject: Reply with quote

There prices are a bit high. I would be selling the games at about 50% of what there selling them as.
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paul
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PostPosted: Fri Nov 16, 2007 10:29 pm    Post subject: Reply with quote

OK, do you have a business plan of any kind?

Have you worked out what margin you'll get when selling them so much cheaper, and how many you need to sell in order to make a viable income?
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Sim
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PostPosted: Fri Nov 16, 2007 11:05 pm    Post subject: Reply with quote

I have no business plan. Don't even know what one is. I know i'll be buying games from 1-2$ from reliable sources and selling them about 5$
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paul
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PostPosted: Sat Nov 17, 2007 1:41 pm    Post subject: Reply with quote

OK... well, as it sounds, a business plan is a plan for your business. You need to think about how much your website is likely to cost to build and run... how many games you anticipate selling... working out any other overheads... rent, rates, etc. for office/storage, staff, lighting, postage, dealing with returns, dealing with queried payments and so on...

Plan it all out well, and you should be able to work out whether you have a viable business.
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Elisor
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PostPosted: Mon Nov 19, 2007 6:05 am    Post subject: Reply with quote

Paul, are there not organisations in the UK for helping people who are looking to start a new business? Been out of the UK for so long I honestly can't remember.
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PostPosted: Mon Mar 31, 2008 5:46 pm    Post subject: Reply with quote

Elisor wrote:
Paul, are there not organisations in the UK for helping people who are looking to start a new business? Been out of the UK for so long I honestly can't remember.


Yes, there are quite a couple, but it's best to do some research, before you get yourself involved, and get ripped off. Sometimes, your bank Advisor or Accountant is the best option of getting further advice, especially if you want to start up a business.
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jolly_web
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PostPosted: Mon Mar 31, 2008 7:18 pm    Post subject: Reply with quote

Sim wrote:
I have no business plan. Don't even know what one is. I know i'll be buying games from 1-2$ from reliable sources and selling them about 5$


Buisness plans aren't too hard to type up. Start by figuring out your profit margin, and what startup costs would be. Remember, you have to make money at low volume, which can be hard for small buisnesses.
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Kay
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PostPosted: Sun Feb 01, 2009 2:42 pm    Post subject: Reply with quote

The UK government offers lots of free advice for people starting small businesses. The service is called Business Link:

http://www.businesslink.gov.uk
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janicepink
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PostPosted: Wed Feb 11, 2009 10:10 am    Post subject: Reply with quote

Hi everyone! Wave I have just registered, but I have been visiting here for quite a time now since I find innumerable helpful pieces of advice around here. And this thread here is another yet! I have lots of old video games waiting to be discarded but Sim's idea is a really nice one. Since the price of console games nowadays are quite ridiculous, we could offer our old games at 50% below, along with some game review of the products to further captivate their eyes!
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AaronJ
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PostPosted: Sat Mar 05, 2011 4:05 am    Post subject: Reply with quote

A business plan is essential because it allows you to experiment with the strategy for your business on paper, before you start playing for keeps. Everyone wants their small business to be successful, with multiple locations, lots of employees and loads of revenue, but you have to learn to walk before you can run. Don't spread yourself too thin or take on too many expenses at the beginning, especially if your income might take a while to catch up to your ambitions.
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mojito8
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PostPosted: Wed Sep 26, 2012 8:47 am    Post subject: Reply with quote

Business plan for a start...
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John Ashtone
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PostPosted: Wed Oct 17, 2012 3:05 pm    Post subject: Reply with quote

Decide what your Business is to be, many people have only a vague idea. Confused

Saying ~I want to open a website selling Clothes~ is fine, but what clothes does this include shoes and belts, is it womens, mens or Children, narrow it down to specifics. Embarassed

And why are you selling the product you are, what do you know about selling that product, where are you sourcing it, if it is a tangble product, if it is a service you are providing, why should anyone come to you, what are your qualifications for providing that service. Wink

Lay out your ground rules. Smile

I notice a chap posted that he was selling games buying at $1 or $2 and selling at $5, ell fine, but how much is the advertising going to cost, on Ebay and Amazon it is high, plus is he intending adding a postage charge, in which case he is not selling for $5, and if he is including P & P in the $5 what will his margin now be, what is his returns policy, how many is he going to be able to buy, and does he have a reliable alternative source if his usual supplier fails to deliver. Question

Those are details which all go to make a business plan. Cool

I also tell you how to lay out your business ideas, where to be looking, things to remember, and things to avoid Very Happy
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Bryan1980
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PostPosted: Mon Nov 26, 2012 12:09 pm    Post subject: Reply with quote

The best way to begin a business is to come up with a comprehensive business plan. You need to know your goal, your competitors and your marketing strategies too. Thus a thorough research is a must in order to have a comprehensive business plan.
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