Dear Mrs. Hannan:
You may have a great idea! The first thing for you to do is take your idea
and put it into a PLAN. You can do this by learning about business (as you
suggested) as well as conducting research on your market and on your target
audience and creating a business plan and a marketing plan.
The first place I would look for business help is your local county
extension agent. I have received some great information (for free) from our
local agency, as well as found excellent help with our local university
website (where the Extension Specialists are located). I have also attended a
couple of webcasts that speak directly to home-based business topics at our
university. Another place to look for business assistance is S.C.O.R.E. http://www.score.org
These are retired business executives who offer their counseling for
free...they have truly been there, done that!
Of course, financing is probably a big issue. It is recommended that you
have about a year's worth of cash capital in order to fund the business and
marketing opportunities while you grow your customer base. Another issue you
will need to decide on is how much inventory you will carry. What kind? What
sizes? What are your wholesale connections? If you are in a tourist area, is
there a local shoemaker? This would be a great "partnership"
opportunity -- you help sell their locally-made wares and they help bring that
tourist business to you with the uniqueness of the product.
There is a lot to think of, but with some research and homework, I am sure
you can make a go of it! Also, be sure you can "work" with your
friend....sometimes business issues hit the pocketbook - and people usually
have a small tolerance for negative gain in that category!
Good luck,
About the PowerHomeBiz.com Guide:
Tammy Harrison is a successful
home-based working mom for over five years. She holds a degree from Mizzou in
Consumer Economics. Her business focuses on Marketing and Creativity for
Small Businesses as well as numerous other small
businesses. For more information, you may contact her at http://www.jdharrison.com