I have a great concept for a new business but the logistics of startup seem too immense. The new business would be catalog based and involve a huge order fullfillment warehouse with 1000's of different products. The market is very specialized and easy to market to.
Finding wholesalers for each item offered, catalog design and production, buying mailing lists, mailing catalogs, running a call center/website for orders, order fullfillment . . . . overwhelming and expensive!
How can "Average Jane" who has a business idea with great potential even begin the process when the end product isn't a small business, but a large corporation? Judging from my own experience. It's certainly possible to bite off more than one can chew! Why don't you start with a ficticious name statement, a ~$8/year www site, and a $4.95/mo. web hosting service (eg: godaddy), the shopping cart and/or paypal account, and start building from there, one feature at a time?
Good luck :) It is one thing to have a big idea, and another to see it actually come to life.
It seems that you have already given a lot of thought about this business you are planning -- and you are certainly on the right track. Research, research and research everything you can about this business idea.
I suggest you start by subscribing to Catalog Success magazine http://www.catalogsuccess.com/ . I get this magazine for free, so check if you can also get it without paying. This magazine covers issues catalogers face in terms of fulfillment, creating the actual catalog, inventory management, and showcases actual entrepreneurs who made it big in the catalog business.
I also suggest that you read the following books on the catalog business http://www.powerhomebiz.com/bookstore/ca...
- Creating a Profitable Catalog (Author: Jack Schmid)
- The Catalog Strategist's Toolkit: Rules, Tools, Forms, and Checklists for Both Print and Electronic Catalogs (Author: Katie Muldoon)
- Creating Catalogs that Sell (Author: Carol Ann Waugh)
- The Catalog Handbook: How to Produce a Successful Mail Order Catalog (Author: James Francis Hollan)
- How to Create Successful Catalogs (Author: Maxwell Sroge)
Then you can prepare a business plan. Given that your idea as you say is big, then your business plan should be written with the goal of attracting investors to your business. Here are some articles that can help you learn more how to win investors with your business plan:
Creating A Business Plan That Makes Tracks http://www.powerhomebiz.com/vol110/track...
What is an Investor-Ready Business Plan? http://www.powerhomebiz.com/vol128/inves...
Business Plans that Impress Investors - 5 Secrets http://www.powerhomebiz.com/vol47/bplans...
Here are some resources that can help you write your business plan:
- SBA Business Plan Basics http://www.sba.gov/starting_business/pla...
- PowerHomeBiz.com Creating a Business Plan section http://www.powerhomebiz.com/startup/busi...
- Entrepreneur.com Writing a Business Plan section http://www.entrepreneur.com/bizplan/0,72...
You may also want to review some sample business plans to see how it actually looks like:
- Bplans.com http://www.bplans.com/sp/businessplans.c...
- MOOT Corp Business Plan competition winners
http://www.businessplans.org/businesspla...
- VFinance - View hundreds of real business plans in pdf format. http://www.vfinance.com/home.asp?bps=1&T...
- Business Owners Toolkit Sample business plans and information on how to create a plan. http://www.toolkit.cch.com/tools/buspln_...
- PlanWare Planning software and information. http://www.planware.org/
If you feel you are ready to go and pitch your ideas, go to places where investors gather. Here are some places where angel investors come and those looking for funding can come and pitch their business plans. Be sure to have a strong business plan and describe what makes your business idea stand apart:
Angel Capital Association http://www.angelcapitalassociation.org
Angel's Forum http://www.angelsforum.com
Band of Angels http://www.bandangels.com
Common Angels http://www.commonangels.com
Keiretsu Forum http://www.k4forum.com
Launchpad Venture Group http://www.launchpadventuregroup.com
New World Angels http://www.newworldangels.com
New York Angels http://www.newyorkangels.com
Prairie Angels http://www.prairieangels.org (charges $125 to submit idea)
Robin Hood Ventures http://www.robinhoodventures.com (charges $250)
It is oftentimes helpful, especially if your idea seems too overwhelming to consult with an advisor who can steer you in the right direction . There are several places where you may be able to find a mentor:
Government Mentoring Programs such as SBDCs, which works with community colleges and local business development councils to offer mentoring programs http://www.sba.gov/sbdc/sbdcnear.html ; or the Women's Network for Entrepreneurial Training http://www.sba.gov/womeninbusiness/wnet_...
Volunteer programs such as SCORE http://www.score.org which is composed of mostly retired executives and entrepreneurs
Formal mentoring programs such as Athena Foundation http://www.athenafoundation.org/programs... , Helzberg Entrepreneurial Mentoring Program http://www.helzbergmentoring.org/HEMP/ , or The Aspen Institute MicroMentor Program http://www.micromentor.org
Professional organizations such as the National Women鈥檚 Business Council http://www.nwbc.gov/Mentoring/programs.h...
Industry and trade associations
Local business groups, such as the chamber of commerce
Local chapters of business groups Check with gov grants. There are many websites that will give you a chance to apply for a grant for free.
Make sure you are looking at the real deal.
There are numerous grants available for women to start new businesses. The Government is wanting to encourage female entrepreneurs. Be sure that your idea is feasible, and then go for it.
The only thing holding a person back is often that which lies within them. Contact your local SBA they enjoy helping start-ups |
