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Starting a business today isn't hard. It's just knowing the right things to set your business up, right. Does the product or service solve a problem, entertain, or educate? Will cash flow be a problem as you run a business? Out of all of the issues a new business can run into, cash flow is the issue that can kill a business, as we've all learned over the past year. Setting up a Private equity account first, for the business, would give your business double the chances of succeeding. Then figuring out what task, hobby, or job you do without being asked, What people come to you for most often, and then monetizing that would be a great step in the right direction.

Ex. Your family, friends, and colleagues light up when you bring, or prepare food. Catering, food truck, or any food-centric business would be a success for you.

Ex. People seem to easily share their most personal information with you hoping that you would provide them with a solution or just an ear. A "Life Coach" is born.

Starting a business is a blessing for your community and your family!! Good Luck!!

First, change your mindset from “almost impossible” to “achievable and successful.” Second, write down your experience, skills, interests and passions to define your niche. Then find mentors in your field and network. Set some money aside for items such as a laptop, cell phone, education/training or whatever you need which you can itemize as business expenses. Think of a name for your business and register within your state. Figure out your business, finance and marketing plans. Good luck!

Oh my goodness, I think the timing has never been better for a woman to start her own business. There is so much out there to tap into. I am assuming you want an on-line business. If you want to open a brick & mortar business, I would think it would be far more difficult.

And as everyone has already said, the key to your success is finding something you are good at or knowledgeable about and fly with it. You need to find something that I want or need that you have or are good at making/getting/doing . . .

My first suggestion would be - research (and research some more) before you pay anyone for training/coaching/classes, etc. I have spent more than I care to think about on false promises, fake gurus, etc. I just want to think that everyone is honest and trustworthy but unfortunately it's not that way.

Also, if you gave us more information, we might be able to steer you in the right direction . . .

I do wish you success and most of all contentment in whatever you chose to do -

@PiNaY posted:

First, change your mindset from “almost impossible” to “achievable and successful.” Second, write down your experience, skills, interests and passions to define your niche. Then find mentors in your field and network. Set some money aside for items such as a laptop, cell phone, education/training or whatever you need which you can itemize as business expenses. Think of a name for your business and register within your state. Figure out your business, finance and marketing plans. Good luck!

@PiNaY Just wanted to drop in again to say love your advice to shift the mindset. It can be challenging to get started when you've already told yourself No from the very beginning. Great point for us all to reflect on at any point of our financial lives.

Last edited by Maryann

Can someone give more details on the private equity account for the business? I'm trying to help my fiance reorganize he's self employed mechanic and there's almost too much info out there now! I desperately wish for a simple "oh you're in Texas, here's your to do list"

DBA? vs LLC? But then here setting up the LLC is not cheap. He fixes vehicles but to resale them as part of his business he has to get a dealers license, which is $2000 at least. Taxes, state unemployment, quarterly reporting a must? Or voluntary? So many questions - ideas, state specific to do list even more appreciated! Someone bored and wanting to invest and take over my role open to offers lol

Two tips:

1. Think of a hobby you like. Look for ways on how you can monetize it. (This will help you get through the hard times of doing a business)

2. Don't start a business because you want to make money as the ONLY reason. Make sure you are doing a business that aims to make a difference. (This will help you stay profitable in the long game.)

I 100% disagree with the statement 'In today's world it seems almost impossible for a woman to start her own business.'

I might agree with the sentiment that if you're trying to climb a corporate ladder, it's enormously more difficult for a woman to be a CEO of a corporate company vs. a man for example.

But starting your own company in 2021 is pretty democratic because of the internet. There's plenty of opportunities out there that you can just do. And none of these require any external approval from anyone. As long as you've an internet connection, you can just click a few buttons and start a business. Some examples:

- You can start your own e-commerce store by clicking a few buttons on Shopify. And voila, you can literally sell anything online.

- Or you can learn how to make PDFs and just list digital goods on Etsy to sell.

- Or you can flip stuff on ebay.

- Or do service arbitrage and flip 'services' on the internet.

These are only a few things I recall doing, off the top of my head. There's infinitely more gender-neutral opportunities out there. And as you can see, literally none of the above makes the distinction of whether or not you're a woman. The internet isn't going to log you out because you're a woman, and eBay/Etsy/Shopify/Thumbtack/Fiverr isn't going to ban you because you're a woman. It's the internet. It doesn't care if you're a male, female, or in between.

The only thing hard in 'today's world' that makes it almost impossible for someone to start a business is the own person's lack of determination, grit, and resourcefulness.

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