Question by Chris: How do I start a small business?
I am 17 years old and I love to fish. I think it would be cool to start my own small fishing business. I could make a website and sell to walmart, bassproshop, and other distributors. What steps do I need to take in order to start this business. Can I make my own equipment such as lures, hooks, sinkers, and fishing poles? Where do I buy cheap equipment for my business? Please comment and give me some input. Thank you
Answer by Ryan Moore
It sounds like you know what products you want to sell which is a good start. The problem with selling to big corporations like Walmart or Bass Pro Shops is they buy their products directly from the manufacturers for cheap. You would be better off catering your website to customers. Try finding manufacturers or distributors that can give you a good price on products. Do your research and see what those products are selling for online, if you can make a solid profit and be competitive with those prices than go for it. A safer bet than buying retail would be dropshipping. What you’re going to want to think about automating certain tasks in your business to allow you to focus on your money generating practices as you move forward. Especially if it’s just you in your business to start off, automating certain aspects of your business will save you a ton of headaches. If you’re interested check out this page about automating your business: http://approachingautomationonline.com/
Hope this helps
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