Don't blow it. (Savvy Solutions).QA I am a single African American African American Multiculture A person having origins in any of the black racial groups of Africa. See Race. female who will be graduating with a bachelor's in business administration next year. I have $20,000 put away to start my own business, but I don't have a clue where to start or what to do. I subscribe to Verb 1. subscribe to - receive or obtain regularly; "We take the Times every day" subscribe, take buy, purchase - obtain by purchase; acquire by means of a financial transaction; "The family purchased a new car"; "The conglomerate acquired a new company"; your magazine and am very impressed with the individuals who have started million-dollar businesses with little or nothing. What can you tell me about getting something started before I blow the money and have nothing to show for it? F. Spencer Milwaukee Whatever you do, do not blow the money. If you want to start a business, you're going to need every cent of that money to cover your overhead, which can add up quickly. With that said, the first thing you have to do is decide what kind of business to start. Readers often ask me what type of business they should start, but that's a decision that should be determined by your personality, interests, and skill set. However, I advise that you be sure to pick something that you like to do because if you become successful at it, you'll be doing it often. Also, learn the challenges in the intended industry before you decide. I also recommend reading the Black Enterprise Guide to Starting Your Own Business by Wendy Beech ($19.95, John Wiley John Wiley may refer to:
In the meantime Adv. 1. in the meantime - during the intervening time; "meanwhile I will not think about the problem"; "meantime he was attentive to his other interests"; "in the meantime the police were notified" meantime, meanwhile , I'd recommend (and I spoke to our Personal Finance Editor Matthew S Matthew one of the twelve disciples. [N.T.: Matthew] See : Evangelism . Scott about this) that you put your money into a short term (12-month) CD or a money market fund, so that you know you will have it available when you're ready to take the entrepreneurial plunge. Most major banks can provide information on both of these investment options. Mail your small business questions to Savvy Solutions, BLACK ENTERPRISE 130 Fifth Ave., New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of , NY 10011 or send an e-mail to hughesa@blackenterprise.com. |
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