20 Things Not To Do Before Starting A Business

Here’s list of twenty things not to do before starting a business:

Don’t quit your day job.
Don’t incorporate. Seventy five percent of all businesses are sole proprietorships, and they already make money.
Don’t get a bank account. Your personal banking account will work just fine if someone wants to write you a check, or if you need to pay for something.
Don’t rent an office. Work from home. It won’t require a first, last and security deposit. Plus, it’s tax deductible.
Don’t hire an attorney. What’s an attorney going to tell that you didn’t already know, or couldn’t figure out on Nolo or in a good bookstore? There are only two times to call an attorney: if you’re in jail, or if someone else’s attorney contacts you.
Don’t hire an accountant. Quickbooks Simple Start will get you going.
Don’t get a loan. To get a loan from anyone, even your family, will require that you do too many items on this list. And besides, if you get a loan, you know work for the bank — not for yourself.
Don’t hire anyone. Don’t hire someone if you can do it yourself. For everything else, use contractors and give them 1099.
Don’t get a business license. I’m not advocating that anyone cheat the government. Once you can sell your product/service, go out immediately and get all of the necessary business licenses and permits in your jurisdiction.
Don’t try to patent anything. It takes 1.5 to 2.5 years to get a patent. Who knows what the market will look like then.
Don’t design a logo. You are your own brand, you don’t need a logo.
Don’t waste time picking a business name. As a sole proprietor, you already have a business name: your own!
Don’t advertise. Advertising costs money, and takes time to perfect. Selling takes only you.
Don’t buy office supplies. If you need a pencil, get one out of the kitchen or your son’s backpack. You are working from home, aren’t you?
Don’t buy any equipment. Outsource everything. Fedex Kinkos can handle all of your printing, and instead of splurging on a postal meter head down the post office. Need something big? Rent it! If it’s not something you can rent by the day, maybe there’s another local business with one. Can you rent it during their off hours in the middle of the night?
Don’t try to find a partner. What do you need a parter for? Capital? Don’t take loans. Need someone with some sales experience? If you the inventor of your product/service can’t sell it — no one will be able to.
Don’t join the Chamber of Commerce. Chambers of Commerce have great mixers where you can meet and network with other local business people. Right now, you don’t need to network, you need to sell! Plus, you can always go as a visitor.
Don’t tell all of your friends about the business that you’re going to start someday soon. Every minute that you spend telling someone you love about your future business is one less minute you have to either try to find someone to buy your product/service or to refine it. Plus, everyone knows an “entrepreneur” that is all talk and no action: don’t be one yourself.
Don’t write a business plan. Sure you need to know what you’re going to do and how you’re going to make money, but don’t waste time formatting it into a structured plan.
Don’t get a business telephone number or mailing address. You have a cellphone, use it. If someone needs to mail you something, have them send it to your house. You’re working there, remember.
Read more:http://www.business-opportunities.biz/2007/04/11/20-things-not-to-do-before-starting-a-business/

Mog TV

A new online social-network called Mog not only enables members to meet other people with similar musical tastes, but also view music videos based on the songs in your music library, reports Wilson Rothman in The New York Times (3/29/07). “Imagine if YouTube knew what songs were in your music collection … it’s the ultimate mash-up,” says David Hyman, Mog’s ceo. It’s actually just one of a number of online services that promise to build communities — and sell new music — based on what your music collection says about you. You’ve probably already heard of Pandora, where musicologists suggest other artists you might like based on those you identify as your favorites.

Or perhaps you’ve stumbled across Last.fm, which is premised not on expert opinion but rather “the wisdom of the crowd.” You download software that first analyzes the songs on your computer, and then creates your own personal “radio station” by correlating your collection to some “65 million tracks by 8 million artists” worldwide as found on other people’s computers. Last.fm then takes things a step further, by creating a community out of its 15 million users, who can “contact others whose musical tastes correspond significantly” with their own. A newer entry is Slacker.com, which offers a free software player and sells a portable device you can use to take your personalized music with you.
For more:http://mog.com/

Goodreads

Goodreads provides an online platform for discussing just that. Booklovers can share recommendations for their favourite page-turners with friends, online acquaintances and other like-minded bibliophiles. Unlike the reviews found at sites like Amazon.com, Goodreads write-ups have a more personal touch since the site is built around a networking concept.

Users can sign up in just a few simple steps and immediately begin entering reviews. Books are rated on a five-star system, ranging from one star for “didn't like it” to five for “it was amazing.” Members can discuss what they loved or didn't love about books they've read, see right away what the consensus was among fellow reviewers and even comment on one another's reviews. Moreover, they can catalogue their collections on virtual bookshelves that can be customized to reflect their own personalities. Default shelf names are “Read,” “To-Read” and “Currently-Reading,” but it only takes a moment to add new shelves, and users can have fun with their category designations.

The business model for Goodreads and its siblings is based on racking up referral fees from online book stores like Amazon.com and Barnes & Noble. As the websites grow, they’ll also become highly valuable tools for the publishing industry, which could lead to additional sources of revenue. Since reading books isn’t limited to English-speakers, this is definitely a concept to copy to other countries or languages that don’t yet have their own (popular) online social network for readers. For more inspiration, check out Shelfari, Bookjetty and BuchPfade, to name a few.

Website: www.goodreads.com