• The Entrepreneur Forum | Startups | Entrepreneurship | Starting a Business | Motivation | Success
  1. Join 50,000+ entrepreneurs
    who are kicking butt and
    winning their dream life.

    Unscripted™ Entrepreneurship:
    A Business That Pays More Than Money, It Pays Time.

    "Fastlane" is an entrepreneur discussion forum based on The Unscripted Entrepreneurial Framework (TUNEF) outlined in the two best-selling books by MJ DeMarco (The Millionaire Fastlane and UNSCRIPTED™). From multimillionaires to digital nomads, the forum features real entrepreneurs creating real businesses.

    Download (Unscripted) Download (Millionaire Fastlane)  Register
    Registering for the forum removes this block!

Some advice please, regarding a business start up

Discussion in 'General Entrepreneur Discussion' started by CalinPop, Jan 27, 2019.

  1. CalinPop
    Offline

    CalinPop Contributor Read Millionaire Fastlane I've Read UNSCRIPTED

    Messages:
    15
    Likes Received:
    27
    Joined:
    Jan 25, 2019
    Gender:
    Male
    Rep Bank:
    $139
    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
     
  2. Timmy C
    Online

    Timmy C I Will Not Stop! Read Millionaire Fastlane I've Read UNSCRIPTED FASTLANE INSIDER Speedway Pass

    Messages:
    619
    Likes Received:
    1,190
    Joined:
    Jun 12, 2018
    Gender:
    Male
    Location:
    Melbourne, Australia
    Rep Bank:
    $5,169
  3. CalinPop
    Offline

    CalinPop Contributor Read Millionaire Fastlane I've Read UNSCRIPTED

    Messages:
    15
    Likes Received:
    27
    Joined:
    Jan 25, 2019
    Gender:
    Male
    Rep Bank:
    $139
    Last edited: Jan 27, 2019
  4. amp0193
    Offline

    amp0193 Legendary Contributor Read Millionaire Fastlane I've Read UNSCRIPTED FASTLANE INSIDER Speedway Pass LEGENDARY CONTRIBUTOR Summit Attendee

    Messages:
    2,512
    Likes Received:
    10,922
    Joined:
    May 27, 2013
    Location:
    United States
    Rep Bank:
    $49,507
    Advice about what?

    You haven't done anything yet.

    Get to work on the business and then let us know when you get stuck. Plenty of people here that can help.
     
  5. GoGetter24
    Offline

    GoGetter24 Gold Contributor Speedway Pass

    Messages:
    571
    Likes Received:
    1,074
    Joined:
    Oct 8, 2017
    Gender:
    Male
    Location:
    Various
    Rep Bank:
    $4,783
    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: Jan 27, 2019
    CalinPop likes this.

Join 1000s of entrepreneurs who are rewriting life's script and winning financial freedom.

---- ----

You must be a member to join the conversation.

Create Account

Join the community fast and easy!

REGISTER

Log In

Already have an account? Login here.

LOG IN

Share This Page