The Entrepreneur Forum | Startups | Entrepreneurship | Starting a Business | Motivation | Success

Some advice please, regarding a business start up

Remove ads while supporting the Unscripted philosophy...become an INSIDER.

CalinPop

Contributor
Read Millionaire Fastlane
I've Read UNSCRIPTED
Jan 25, 2019
20
28
25
Hi, guys once again My name is Calin and I live in UK London, I want to start a business selling on Amazon Importing products from China, I already went thru some courses and bought some more courses on Udemy about marketing, Facebook ads, Google Adwords and so on, My budget is not so big so I want to learn as much as possible to succeed, I am not afraid of getting things done and to put effort in to, I have a full-time job and a toddler and another one on the way
Any advice will be appreciated thanks in advance
 

Don't like ads? Remove them while supporting the forum. Subscribe.

GoGetter24

Gold Contributor
Speedway Pass
Oct 8, 2017
571
1,164
365
Various
Based on having done it myself (the ones marked in green are the only ones you must absolutely have to start):
  • First, be absolutely clear on what the business play is, and what you're aiming to get out of it. If you don't have this, you don't have a success gauge or "marker when to ditch it", and you're going off half-cocked. You should have a clear but basic initial plan how you're going to conduct the business. In your case: buy some stuff, list it on Amazon, advertise it, ship it when people buy.
  • Register your business. Usually as a sole proprietor to begin with, but if you were in say California you'd register an LLC because it's dirt cheap and relatively painless. So how to do this depends on your jurisdiction -- sole prop. is faster, company is safer, and you can usually transfer from one to another later.
  • Open a business bank account, and do everything through it. It's the simplest and easiest way to separate and to keep basic track of your accounting to begin with. If you use your personal account it's a mess.
  • (Optional if you'll be taking direct payments) a merchant account.
  • (Optional, in your case could leave it until later if needed) set up your web presence: website, email, possibly a voip number, etc.
  • Set up your basic legal. In your case it'd be a terms & conditions you attach to all your listings. In the case of a service business it'd be setting up standard contracts. Most people get started with this by copying from other people's terms & conditions that they like.
  • (Can be left until later depending on what you're selling, your jurisdiction, your business structure, how tight your legal is): Business insurance. If you're in a shitty jurisdiction where judges think it's OK to award a retard a million dollars against a cafe for them spilling a $1 coffee on themselves, you'll probably want this up and running early on.
  • Set up accounting. Can be put off until you're actually clocking a significant number of transactions.
Note that none of them are in green. You can start selling stuff online right now with what you already have, and can start migrating it to a more solid business structure as you go.

You can buy something right now and list it for sale online, probably within 24 hours, to get started. So either do it or don't.

*disclaimer: don't know what I'm talking about, not a business adviser, etc
 
Last edited:

Sponsored Offers

  • Sticky
MARKETPLACE Fox Web School "Legend" Group Coaching Program 2021
I thought I would post up the first video from the newest 2021 program content... Just a...
  • Sticky
MARKETPLACE Kill Bigger Incubator
I have not offered one of these in a while, but it looks like I have time to take on an...
  • Sticky
MARKETPLACE You Are One Call Away From Living Your Dream Life - LightHouse’s Accountability Program ⚡
Hi Andreas, It is per month, with the first month being half. This is a great question, I...
  • Sticky
MARKETPLACE Lex DeVille's - Advanced Freelance Udemy Courses!
Hi Lex, I looked at several options including Kajabi and settled on the Divi theme on Wordpress...
  • Sticky
MARKETPLACE Grow Your Business With a Book (An Unorthodox Marketing Strategy That Built One of the Largest...
Are you looking for a new, lesser-known but potentially very lucrative source of leads to your...
  • Sticky
FEATURED! Introducing... WEALTH EXPO$ED, A Short Story By MJ DeMarco
The story is BASED UPON a true story. The details aren't entirely accurate or from a distinct...



Forum Sponsor

Grow an online business:
- Start immediately!
- Master business skills!
- 100+ Fastlane students enrolled!
Review & Details >

New Topics

Fastlane Insiders

View the forum AD FREE.
Private, unindexed content
Detailed process/execution threads
Monthly conference calls with doers
Ideas needing execution, more!

Join Fastlane Insiders.

Top Bottom