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What education or training do you need to start your own business?

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βˆ™ 2006-07-27 18:12:39

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It depends on what type of business you want to go into. Some people will have only a Grade 10 education (or, in the early 1900s lucky to have an 8th Grade education.) Now we can take business courses and it's always best to get a good accountant (CGA) to do the taxes at the end of the year so you must keep up your bookkeeping skills and be sure you pay all taxes and also keep receipts of business transactions and also learn the skills of possibly becoming an employer and what the rmployees rights are. Many people with a lower education have become millionaires by trial and error. good connections and a whole lot of luck. I have also heard (my husband is in the yacht business) that many millionaires have lost millions to gain millions and some lost so much they had to start from scratch. Sometimes it's a good idea (gives you an edge) to have a close and trusted friend become a partner with you and to be sure your partnership is drawn-up in contract by a lawyer. Often a partner may die and the other partner is left holding the bag, or, in many cases the spouse of the deceased may want to sell that share of the business. Take business courses and learns the ins and outs of business. Be sure you pick a good business (eg: computer games, technical, computer work for different companies (in home business which makes for a low over-head) etc.) It sounds mind-boggling, but, if you love what you do you'll usually be quite surprised at how well you do. Study the market out in the business world and see what's hopping and what isn't. Remember to always keep some spare cash in a special account for emergencies and don't start your business too quickly. I live in Canada and two young women started selling Mukluks (they are leather with fur on the top and come up to just below the knee) and decided to dye some of the leather in beautiful pastel colors. They not only wore them wherever they went, but sold them at Kiosks (small stands in malls) and sold door-to-door. Before they knew it women were coming up to them on the street and ordering and they had a thriving business and so much so, they were racing around getting much more help to get their orders out. The lady who wrote the Harry Potter books is another great story. She lives in England and while married she loved to write these stories as a hobby and when her husband walked out on her and she was left destitute her best friend told her to send one of her written stories in to a publisher and the rest is history. Most of the successful people out there have a lot of help and aren't always the brains behind the success (they hire people to do this.)

2006-07-27 18:12:39
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