You can do what I had done. I associated with my old friends of similar mindset. Money was an issue, but I had skills and I managed to squeeze some time. I consulted my trusted friends but not asked for loans. We three people started a small business in partnership. We made agreements stating our shares of profit. The personal return was low (very low) in the beginning, but helped us. We didnot use the profit (our share) for ourselves. We re-invested the profit into the business and grew it.

The points we took care of:
1. the business should be of our interest and according to our skillset.
2. no one would take a single cent of profit for personal use (no matter what). All the profit would be re-invested.
3. the work profile and share of all the partners were well defined.
4. we were ready to accept that the business would not give any return for the first year.
5. and most importantly, work hard and work harder.

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We are responsible for what we are, and whatever we wish ourselves to be, we have the power to make ourselves. ~ Swami Vivekanand

I have some experience with this. My wife currently is self-employed and owns her own business. Some lessons learned along the way:

Do what you would be doing anyway, even if you weren't getting paid. If your heart isn't into it, you won't stick with it when the going gets rough.

Avoid partnerships. They are like a marriage in terms of liability. If you consider taking a partner, ask yourself if you trust this person as you would someone you would marry. Corporations are a much better solution to bringing others into your business and offers many benefits in terms of protecting your personal assets.

Make a business plan. The plan itself isn't the most important thing, but the exercise you go through to make one is. It forces you to put down on paper answers to crucial questions that will have to be answered in order to be successful. Refresh that plan frequently and make it vital.

Remember that if you can perform a task that makes someone else profitable, then you have what you need to do the same for yourself. Remain confident in your abilities.

Look for ways to measure your success. It might be something as simple as placing a counter on the door to count the number of times people enter the store. Compare that number with the amount of cash business you do each day. If you spend money on advertising, you can watch the comparison to see if it made a difference. Find a measurement that fits your business and use it.

If you deal with a product, keep an inventory. Good record keeping is essential to being successful.

Read about running a business to find what will work for you and fit your enterprize.

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"Always wash your hands and say your prayers for germs and Jesus are everywhere." -Naomi Judd

marylamb wrote:

Get a business degree.

Ahem. Tell that to Bill Gaites, T. Boone Pickens, Sam Walton, Don Tyson, Steve Jobs, etc. etc. etc. and hear them laugh. Sorry, but that is not the only way to go into business and is no guarantee for success.

It can't hurt, I guess.

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"Always wash your hands and say your prayers for germs and Jesus are everywhere." -Naomi Judd

The number one priority in running any business large or small is ACCOUNTING.

From Day One keep records of your activities, your sales, your expenses, your clients, your hours etc.

The number one reason that businesses fail is due to poor record keeping, especially with regard to cash flow.

We can't all be Professors of Economics and CEO's of major businesses like my cousin Norman but I believe opportunities exist for motivated and diligent people to be of service to someone somewhere, doing something satisfying while generating sufficient income to live on.

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Job 33:15 "In a dream, in a vision of the night, When deep sleep falls upon men, In slumberings upon the bed;" Theology 101 "If He doesn't know everything then He isn't God."