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Hello all, I am motivated in starting my own small business. Where should I start?

Veteran

Johnny Lopez Santa Ana, CA

The small business I want to start is a Scrap Metal Recycling Center with a partner in the Los Angeles region.

26 April 2015 5 replies Small Business

Answers

Advisor

Shannon Bradford Lakewood, OH

Hi Johnny,

I agree with the previous poster, that the best place to start is with the Small Business Administration. But specifically with the nearest Small Business Development Center to you or nearest to where you plan to start your business. If you go to californiasbdc.org, you can find the office closest to you. They are often located at a university or community college. The SBDCs help with free advice on startup, local regulations, etc. They can also connect you with a volunteer mentor.

27 April 2015 Helpful answer

Advisor

Karin Reidy Bethesda, MD

Small Business Administration. They have tons to offer on the subject of starting a small business. They guide you on many levels. The website is jammed with information. www.sba.gov

Best of luck to you!

27 April 2015 Helpful answer

Advisor

Alexander Hildenbrandt Jacksonville, FL

Hi Johnny,
If you know that's the kind of company you want to open, make sure you aren't in an overly saturated area for your demographic. Then pic how you want to enter into that business by model. Do you want to start it yourself? Do you want a franchise? Do you want to purchase an existing business? Compare the perks and responsibilities of all methods of doing business. Then use experts and mentors to get the information you require.

I am a franchising guy out of the Army. I like franchises for vets but they are not for everybody. SCORE is good for tweaking ideas and current plans. That's personal experience. SBDC will help with planning so they should be a great start unless you decide on a franchise. Start ups have problems getting capitol so making friends with a local lender can help but there should be a local SBA veterans Rep in your area who can feed you info as well. make friends with that person anyway. Above all else, just meet people!

Good luck!

Veteran

Robert Paiva Houston, TX

Johnny, congratulations on jumping into the entrepreneurial fray and also thank you for serving our Country. A small bit of advice from one who has been involved with numerous start-ups and new businesses.
1. Get into doing something you know very, very well.
2. Starting small is best. Focus on your immediate area and with those whom you know best.
3. Figure out how much $$ you're going to need to get you through 6, 12 and 18 months. You may not be able to pay yourself for a while.
4. Find a local mentor that you can sit down with often and regularly. And be sure they have significant experience not only starting a business but running one too.
5. Find someone to help you with your bookkeeping & accounting. This part is critical and you will need someone good that you can trust.
6. Lastly, fight tooth and nail getting paying customers on board. Making $$$ via revenues is the most important matter in keeping your business alive.

Veteran

Johnny Lopez Santa Ana, CA

Thank you both very much.

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