Originally Posted by
JohnTRourke
what's your business plan say?
honestly sounds like you are working it out here on the forum (which is ok too)
what's your target market?
where are you located? Physical or just web?
what's your expected gross margin?
what's your expected salary (BTW, the answer is zero for at least the first year)
what's your expected mix?
who are you buying from?
what terms?
How are you selling?
what terms?
what's your marketing plan?
what's your advertising plan?
what's your expected gross income? and with that margin can you pay the bills? (forget salary)
how long til you mark items down?
how much tied up in inventory?
got your web site done? tested?,
Ok, I don't really expect you to answer these online, but I do think you have to think about them and make sure YOU have answers to these questions. Because it doesn't sound like it (and I could be wrong)
what does your spouse/family think about this?
Do you have at least a year, preferably two years of living money put away to live off of?
running a business is a TOUGH FUCKING THING TO DO. Running retail is worse. think 18 hours a day, 7 days a week and even then you think about stuff.
When do you change? (when the market says idea 1 isn't working, how long do you stick with it to know for sure?), what's the plan for that?
When do you throw in the towel? How much money are you willing to lose? Sucky question, but you need to answer it. Lots of people don't and lose way more than they should have because they follow it down the rathole when they should have said "I will lose X amount of money, then I'm done" and stick to it.
I hope this helps. Lots of questions I wish I had answered for myself 7 years ago, would have been cheaper to answer them on paper.
BTW, no matter how good your "plans" are, real life (and the market) has a way of telling you that you are wrong. (DAMHIK)
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