What do you think is the single most important thing when starting a new small business?

I have had many ideas for a small business for myself, high end coffee shop with computers and plasma tvs for my guests, credit fixing and tax agency, selling high end electronics through the web, selling life insurance. But all my plans of having a small business usually die down after couple of weeks, I do not know why. For one I do not have enough money to start my own business, nor I have any support from my family. But I do not think this alone is a reason for not starting your own business... In your opinion what is the single biggest hurdle for you to start your own business?

Is it a lack of Idea?
Is it a problem of financing?
Do you have the support of your family?
Have you ever consider franchising?

Well all of the above and much more. Although ideas a have plenty, money I have not. Starting my own small business would be a realization, but I do understand some planning is imperative for you to start with the right foot. But I guess, it would not hurt to find someone out there like minded and with the same passion as I have for some of my ideas. And one thing that I notice is that I tend to jump to much from idea to idea. I think if i would just stick with one of small business ideas, I would've been successful by now.

Anyways, what is on your mind. in these tough economic times, do you think starting your own business would be a good Idea?

I think right now is a good time to flip houses (buy real state) if you have enough money or a good credit or buy stocks if you understand a little bit of the stock market. Anyways there is a great site for reference in stock market news.

Cheers,

Mycha

Small Business Ideas

Have you ever dreamed about opening your own small business? what happened that you had to give the idea away, or why did you filed the idea. We all have a entrepreneur inside of us waiting to come out. I too have many ideas of small business that I had to pass, because either I didn't have enough capital or I just talked my self out of it. We all have families and responsibilities and sometimes are aversion to failure make us back down of the small business dream.

This blog is being created for us to discuss ideas with like minded people, and who knows, we may even find someone to back our ideas up. Please speak your mind, don't be worried to share your ideas, nothing is to small or big or impossible. Let's all achieve our goals of having our own small business!