Comments on: The Worst Startup Business Opportunities http://blog.innovatearkansas.org/2009/08/31/the-worst-startup-business-opportunities/ The INOV8 blog tracks the latest news and trends in technology and innovation throughout the world. Wed, 08 Feb 2012 18:24:34 +0000 hourly 1 http://wordpress.org/?v=3.0.1 By: Twitted by innovateAR http://blog.innovatearkansas.org/2009/08/31/the-worst-startup-business-opportunities/#comment-98 Twitted by innovateAR Tue, 01 Sep 2009 22:07:26 +0000 http://blog.innovatearkansas.org/?p=335#comment-98 [...] This post was Twitted by innovateAR [...] [...] This post was Twitted by innovateAR [...]

]]> By: Jeff Amerine http://blog.innovatearkansas.org/2009/08/31/the-worst-startup-business-opportunities/#comment-97 Jeff Amerine Tue, 01 Sep 2009 21:58:29 +0000 http://blog.innovatearkansas.org/?p=335#comment-97 Startups are always a risky business and most fail. The sectors the article covered are just seven possibilities from a myriad of ways to do it wrong. Focus on few key themes can make a big difference such as: - You better be an expert in whatever business you start. Knowing that customers will buy what you offer is fundamental. That means for any potential startup you really need to know the market opportunity, customers, and competition. There is no replacement for experience and research before you start the business. - Learn the numbers. Do worst case, realistic projections for both revenues and expenses. Secure startup capital to meet the worst case. - Don't start the business if you aren't prepared to work for nothing or close to nothing for a long time. The early days are really tough and until the business is sustaining through either cash flow from sales or outside capital, plan on eating pizza and Mountain Dew and not having much of a social life. Even with all of this said, the adversity in a downturn can definitely give birth to great businesses if you have the tenacity to make it happen. Startups are always a risky business and most fail. The sectors the article covered are just seven possibilities from a myriad of ways to do it wrong. Focus on few key themes can make a big difference such as:

- You better be an expert in whatever business you start. Knowing that customers will buy what you offer is fundamental. That means for any potential startup you really need to know the market opportunity, customers, and competition. There is no replacement for experience and research before you start the business.

- Learn the numbers. Do worst case, realistic projections for both revenues and expenses. Secure startup capital to meet the worst case.

- Don’t start the business if you aren’t prepared to work for nothing or close to nothing for a long time. The early days are really tough and until the business is sustaining through either cash flow from sales or outside capital, plan on eating pizza and Mountain Dew and not having much of a social life.

Even with all of this said, the adversity in a downturn can definitely give birth to great businesses if you have the tenacity to make it happen.

]]> By: Joe McCoy http://blog.innovatearkansas.org/2009/08/31/the-worst-startup-business-opportunities/#comment-96 Joe McCoy Mon, 31 Aug 2009 23:06:21 +0000 http://blog.innovatearkansas.org/?p=335#comment-96 The worst startup I can think entering right now is Real Estate - it is not easy to get established sales and competition is very high for a more limited market. The worst startup I can think entering right now is Real Estate – it is not easy to get established sales and competition is very high for a more limited market.

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