Starting an online buisness looks scary

Ritchie41 · 02-04-2006, 11:06 PM

Hi as alot of you know im new to the site, I am looking at starting a buisness online , I have been doing some reading on the forum and must admit there is some good stuff on here

But it all looks like alot of hard work and to be honest it looks pretty SCARY to me , My head is looking for away out already

,There is just that much to get on the market and for a start finding something that is going to sell worries me

.
I really would like to start an online buisness, I Am not wanting to invest huge amounts into it yet, as obviously i want to see how things go,
How was everyone when you first started out from scratch ?
Any advice and help would be gratefull aswell

**ara-uk** · 02-04-2006, 11:29 PM

If you want to start any business whether online or not, you WILL HAVE TO TAKE RISKS. I cannot stress this enough. It's the GOLDEN RULE of doing business. Taking a risk will allow you to learn from your mistakes. If you don't make mistakes, you won't learn You will lose money and make money, hopefull make more than you lose.

Anyway back to the point, when I started out back in November 2004, I was just as nervous and worried as you are. It actually got to the point where I was about to send £10k over to a scammer for 100 iPods! My gut feeling got the better of me, and I didn't go through with the transaction. I looked for places where I could find a "niche" in selling on eBay, and at the time, it was for Mini Motos. There was only one seller, and the profits looked to be great, at more than 100%. However I didn't have the cash on hand to start off then, and so had to save and save, until in March 2005 I bought some Mini Motos and, I sold one for 50% profit. Obviously other sellers had found the niche and the profits weren't so great anymore, so I got rid of the Mini motos as fast as I could. The last one I sold was in November last year for a £10 loss. I still have a few left, but even though I have lost some money, I have made money, and therefore I am happy with what I have done.

I'm now looking to go into the electronics field, as that's where the future lies!

LOL. I just gave you my life story, but anyway, I hope this helps you.

**Anthony** · 02-04-2006, 11:40 PM

This article written by myself may be of some use to you: Starting a Business

Hope this helps..

malcolmk133 · 03-04-2006, 12:11 AM

Quote:

Originally Posted by Ritchie41

Hi as alot of you know im new to the site, I am looking at starting a buisness online , I have been doing some reading on the forum and must admit there is some good stuff on here But it all looks like alot of hard work and to be honest it looks pretty SCARY to me , My head is looking for away out already ,There is just that much to get on the market and for a start finding something that is going to sell worries me .
I really would like to start an online buisness, I Am not wanting to invest huge amounts into it yet, as obviously i want to see how things go,
How was everyone when you first started out from scratch ?
Any advice and help would be gratefull aswell

I know how you feel, I've only started myself a few weeks ago and I felt the same, not wanting to invest a large amount of money so I decided to try Dropshipping. Now there are always alot of people wanting to dropship items for you but remember that some are alot more reliable than others

At the moment I am still dropshipping items and have made, well, marginal profits to be perfectly honest. Selling on ebay with dropshipping is not really very feasible once the paypal and ebay fees are taken into account.

**MustHaveMobiles** · 03-04-2006, 12:15 AM

Quote:

Originally Posted by Ritchie41

: But it all looks like alot of hard work and to be honest it looks pretty SCARY to me , My head is looking for away out already

Simple answer is yes it is hard work, most things are.

You also need to get away from the mindset of looking for a way out as it sets you on a slope to failure...you need a positive attitude to combat the 'issues' you will face.

'issues' is put like that as they are all unique to the individual situation.

Ritchie41 · 03-04-2006, 01:33 AM

Thx for the advice and help

walshy69 · 03-04-2006, 07:34 AM

Good luck let me know how it all goes!

Eskimo · 27-11-2007, 05:07 AM

When I started my business, I lost about 6000 GBP, but I've learned some things and I still keep on trynig to succeed... Maybe I'll be more lucky in the future. Now I don't go to university, because I have to work to pay off 2 loans. Thats the main reason I came to UK

This is s a great forum, a lot of usefull info

p.s. Sorry for my poor english.

Tango34uk · 27-11-2007, 10:42 AM

I have 2 failed business's behind me, I have also been bankrupt (my poor spelling, not txt speak!), but this time things are working out.

Go for it, you can start a business without having to spend loads of money.Look at what you are good at, and see if you can use those skills in your business.