I have 70,000 cash and 2 MBA's with no clue!  What type of business should I start???  I want to make MONEY!!!
955351
Hi,\n\n This is actually an interesting question to think about, but ultimately I don't feel that anyone could tell you the type of business you should own.  That is completely dependent upon you.  Before I go into the specifics things for you to consider, I am also an MBA so please don't write me off as just a random uneducated guy sharing personal opinion.\n\n---------------------------------\n\nStarting Capital\nYou mentioned that you have $70k per year because of a buy-out.  This is actually not a huge amount to start a full-time business if you are a person with family responsibilities.  Since $70k reflects your previous income, and the only money you have to invest is the money from the buy-out, I can deduce that your annual spend is about $70k per year.  If you look at in these terms, you really need to find a job which you can invest $70k and receive a 100% ROI each year. Like I said, the finances will be pretty tight.  \n\nVenture Selection\nThere are a wide variety of ventures open to you.  There are some franchises that you can start for this amount, and they also offer financing which will allow you to leverage your $70k which will lower the ROI requirement from the previous section.  (Although, I obviously don't have to tell you that this will also increase the risk of starting a business.)  Franchises are great if you are good at executing and looking for a set pattern, structure of earning money.  Some people love them, but others feel like they just spent their savings to buy a job that they can't leave.\n\nIf you are more creative, you may consider starting your own company.  Whether that be consulting, publishing, or window washing.  You merely determine what you want to do, and then concentrate on finding customers to pay you.  After you find enough customers to work 20 hours per week, then hire some one to do that work and go back to drumming up more business.  I know several very successfuly entrepenuers who started out this way.\n\nAlternatively, you could purchase an existing business.  I think this is the worst option for you.  When you purchase an established business, you are often taking over something that you don't fully understand.  Poor decisions can result in lost sales which will substantially lower the value of the business.  Additionally, the person selling the business probably understood it quite well, so they probably maximized the short-term profits to get top dollar from the sale.\n\nFinally, while you are deciding what type of business to start.  You definitely want to ask yourself a few questions:\n\n1.  What do I want to spend my life doing?\n2.  How much money do I want to earn?\n3.  How much time am I willing to invest?\n4.  How much risk am I comfortable with? \n\nAfter that just make a list of your options and talk it over with your family.  This decision could impact the rest of your life so it is not something to be taken lightly.  \n\nGood Luck,\n\nLeo
296952
These are my steps to making money:\n\n1.  Be prepared to work hard\n2.  Don't spend beyond your means\n3.  Be single-minded and focused in your pursuits\n4.  Be willing to make sacrifices and live frugally in the beginning\n5.  Build up your capital first\n6.  Invest capital in low risk conservative ventures at first like real estate\n7.  Don't get involved in any type of business where you have to depend on others.  Don't be at the mercy of your employees.\n\nGood luck!
969901
This is a very good home based business. Please click on http://www.4xmoneytrain.com\n\nYou will see how easy it is to make a substantial income with no experience and no guess work. A revolutionary software allows you to "SET IT AND FORGET IT". \nMake sure you fill out the survey and watch the two short movies.\n\nThis is the most amazing business opportunity I have ever seen. NO PRODUCTS TO SELL!!
763649
OK, do you really want to nock your brothers socks off?\n\nTry following some or all of this:\n\nAnytime you want to start any kind of business, there are several basics that you will need:\n\n* You should first sit down and think about what it is you want to do and then write out the scenario in detail!  This may sound tedious, but it will help you clarify what it is you are thinking about.  Also, when you talk to anyone about the business (mentor, bank, clients, prospective investor), you will have a clear vision to share with him or her.  You can check any number of books at your local library or the Internet for ideas on creating a business plan or goals list.\n\n* Is there anyone out there doing something like what you want to do already?  Can you research what it is that they do and maybe even talk with them about what they do?\n\n* Are there businesses out there that are doing some aspect that you want to do?  In this case, you want to create an online drop shipment business.  What websites have you seen that you like (can you talk with them)?  How does the local McDonalds or other retail outlet do business that might help you in yours (i.e. how is McDonalds able to provide a product to a customer on demand at almost anytime of day – and do it with a much of high school kids)?\n\n* Never listen to anyone who says that you CANNOT do something UNLESS they have been there and tried that!!!!!  Anyone can tell you the good things that you can try or do, however, only someone who has actually tried the specific thing your are thinking can truly give you advise on the pitfalls that could await the unsuspecting.\n\n* If you want to look for a mentor (free or paid – although mentors usually offer their time at no cost), the question that you should be ready to address is WIIFM (What In It For Me {the mentor})!  What are you willing to do for your mentor to help them with something that they may need (for me it’s simple – I am looking for 10 points :-)\n\n\nContacts:\n\n* Contact your local Better Business Bureau or Chamber of Commerce – they have business people who will help start up operations.\n\n* Contact your local high school, community college or university and find out whom the teachers are for courses related to your business (like business or computer/internet classes).  Contact these teachers to get some ideas or even to see if they will take you company startup on as a class project or special project for some of the student to work on (might give the students extra credit and you a free startup).  In the worst case, you might get the names of some good students whom you might hire to do certain aspects of what you need at a very low cost.\n\n* Contact you local, county or state governments (check their websites) – many areas have small business administrations (or some other agency that can help with various things) that have any number of references and resources available at little or no cost.\n\n* Go to your local library in the Reference Section and find the Encyclopedia of Associations.  It is a three-book set published by Gale Research.  The first book lists thousands of tiles of professional organizations and groups.  It will give a code number to use in the other two books to find out more about that organization.  Contact the organizations who have something to do with your idea and find out if they have a services to give you advise or local groups that you can network with.  In many cases, just asking for membership and publications information may give you a lot of useful stuff.\n\n\nOther outstanding sources that I have used in running my four businesses:\n\n* Nightingale-Conant – the largest producer of audio/video training programs in the world.  Many of their programs can be borrowed for free from local libraries.  http://www.nightingale.com\n\n* Entrepreneur Magazine (http://www.entrepreneurmag.com) – many great tips and ideas about running a company.\n\n* Rich Dad Poor Dad - http://
1010947
That's like asking everyone what their favorite flavor of ice cream is... I recommend that you pick a business in an industry that you are familiar with and will be happy working in. For example, I started a golf retail business once and had a blast doing what I love and getting paid for it. I hope that helps!!\n\n"Do what you love and the money will follow!"
439734
If you are serious then you can make this happen.  Two things you need to focus on.  Given your age and only have 5 years to go you need to focus on the first which is your earnings ability and then secondly best ways to invest your money.  Look for a multi level networking company that is new (less than 1 year), that has a great product and one you believe it, research the management to make sure they know what they are doing, research the compensation plan and then spend several hours each day growing your business.  Take your earning and invest it in several different vehicles - stocks, notes payable, oil and gas, real estate etc.  Keep focused.  Don't listen to naysayers (aka dream stealer's).  You can do it!!  Good luck and welcome to the next Millionaire Club!
374060
In this day and age you really need an MBA.\n\nhttp://www.daylon.com/mba\n\nA lot of people go on to master in some sector of business. This is where you will find the most money and the most options for employment.\n\nGood luck.
16800
I suggest you look for a class at a local college, community center, brokerage (like Schwab) or online tutorials.  Be careful as brokers will tell you they will make your money grow but be sure to ask that IF you are so good why do you work for a living vs. make yourself millions?
677834
Assuming that you know what it is you want to do. The 1st. thing I would do is visit your local Small Business Adminstration Development center. the Best part it's FREE via our Government! There is a counsler there that will give you advice, tell you where to go and who to to talk too. Help you with a business plan so you can get the money you need from banks. How to register your business. Dealing with SBA will put in on the right track.
622370
Hey there! Running your own online business can be an extremely lucrative venture as well as one that requires very low start up costs. I run my own business from home, and make a little over $500 a week, and I just started a month and a half ago. I am hoping to double that amount by the end of June. Check out www.live-wealthy.ws . The site features an online DVD presentation that you can view to see what the company is all about, and what they can do for you, as well as an income calculator so you can see just how much you can make. The earning potential is unlimited! Some members are earning hundreds to thousands of dollars a week with this program!! www.live-wealthy.ws features a 7 day free trial so you can check the program out for yourself, and see all of the tools and support that are available to you. To become a full member, you only pay $10. This can easily be recouped within the first day that you start if you start working the program from day one. If you are interested sign up, and should you need any help at all, you can email me personally at ecommsolutions@yahoo.com . I would be happy to help you out any way I can! Good luck on all of your future endeavors!
258661
start learning, park you cash in a high yield money market until you know what you are doing.\n\nread the educational info @ bobbrinker.com
707135
hello there, \nI can suggest you a very good business opportunity. \n\nNow its time to do Smart Business NOT Hard Business. So investment should be very small and returns should be high.\n\nI am earning good and many of my friends are earning like anything in this business i do everything with just some efforts. \n\nYou just need to be calm and have good relationship in your local area to get succeed, you can do it anywhere you want it and no matter where you are. \n\n*Its a Unique chance to become financially free and earn US \n$3000 a day. \n\n*I will Make You Grow Financially.\n\n*A small investment which will keep expanding like the Roots of a \nBanyan Tree. \n\n*No risk factor of the Stock Market. \n\n*Earn millions for yourself and your generation. \n\n*It grows as you enjoy the beaches or have retired. \n\n*You’ll have enough to have your desires and dreams come true. \n\n*You’ll be able to help the needy with your tender feelings. \n\n*You’ll be able to leave a legacy for your family.\n\n\nIf interested, please reply me your complate details.\n\nSidhu.
454448
my best advice to you is make sure its going to be something your really interested in. owning your own business seems like its all fun and games but its the complete opposite. there is alot of responsibilty involved so make sure you are ready to take on that challenge. i opened a tanning salon about 2 years ago and i thought it was going to be the best thing that ever happened to me. everything is going good financially, but there is alot of stress that comes with opening your own business. to look on the bright side, its always fun being your own boss :-) i wish you the best of luck on your business journey.
361622
I would say the easiest business that could actually make you money at a low cost start up is an Internet business. Low start-up costs, low over-head, low-start, in demand, easy to learn, lots of professionals to learn from you can work from your home and you can start with one business and learn the Web then add more sites to your portfolio. \n\nYou can also put some website businesses on "automated" and your computer will work for you 24/7. You'll just need to check emails and review reports etc. \n\nGoto http://mywebsitebusinesstrainer.com/default.aspx for the best Internet Business training.\n\nGood Luck!
38677
Start with something you or someone you know already own. \n\nI started a business making leather goods with only $300 investment. I already had most of the tools and supplies but I needed a wider range of leather. My first time selling netted $700 profit and I still had 3/4 of my supplies left. I turned it into a $80G a year business in two years.\n\nOne important factor in creating a business is passion. You have to love what you do.\n\nFrom a cleaning service (everyone has enough supplies to do at least the first house or two..then you reinvest your money to grow), to house painting (more supplies but can be bought at dollar stores for the first house), and the list goes on.\n\nI have built and sold 7 businesses in my life and am on business 8. Don't feel that once you start, thats where your stuck forever. Feel free to learn and grow with life. Get the book "Who moved my cheese" to help you learn how to move through tech changes.\n\nTake a piece of paper and draw a page sized T on it. The right side is cons the left is pros. Write your abilities down on the pro side then pencil in the cons to having a business doing that ability. You will find one or two strengths to work on.\n\nOnce you find what you want to do, find someone who is doing it and ask some questions. You will need to know how long it took to become established. Does the business support them and or their family. Do they like what they do. If not, why.\n\n2 out of three privately owned businesses fail the first year. They tend to work best when you have another job the first year or even two so you can reinvest your money to build the business. Its hard work but worth it if it makes you happy.
903260
To get started, I suggest contacting the Small Business Administration Financing Page (SBA) – links below. Entrepreneur also offers a great site dedicated to money & finance – see below.\n\nResearch, research, research – this cannot be stressed enough. Read as much as you can. Here are some book titles that are relevant:\n\n* Free Money for Small Businesses and Entrepreneurs by Laurie Blum\n* Finding Money: The Small Business Guide to Financing (Small Business Series) by Kate Lister, Tom Harnish\n* Financing Your Business Dreams With Other People's Money: How and Where to Find Money for Start-Up and Growing Businesses by Harold R. Lacy\n* No Cash No Fear: Entrepreneurial Secrets to Starting Any Business with No Money by Terry Allen\n* Starting on a Shoestring: Building a Business Without a Bankroll by Arnold S. Goldstein\n\nThere are plenty of free informational resources out there. Check the source box for links to articles.\n\nHope that helps! I wish you much success & happiness in all your ventures!
89194
Think of all your interests & ask yourself if any of those could be expanded into a business. Just keep in mind...what's your expertise? What are your interests? What could you imagine yourself doing?\n\nThen, once you have some ideas, research, research, research. Check out the competition -- their business practices, pricing, customer service, etc. And also think about what you could offer to set yourself apart from these other companies. Check out the industry – is there a need for the services that you can offer? Check out costs of starting and if the possible ROI (return on investment) is going to be worth it for you.\n\nCheck the sources for some handy sites.\n\nHope that helps! I wish you much success & happiness in all your ventures!