10 Tips for a Starting a Computer Business

Many people dream of running their own successful business. However, those dreams never include the sweat, blood and tears that are part of getting there. Here are 10 reality based tips for starting a computer business.

1. Love what you do – This is by far the most important thing in almost every business. Dont ever do it “just for the money”.

2. Have sufficient start up funds – It is possible to start up a computer business for as low as $500 which should cover your business registration, initial visit to your accountant to get setup legally and some business cards. However, the most important start up funds are the ones you need to support yourself while you build up your client base, which leads me into my next tip.

3. Start your own business while you are still employed – It may be many months before your business starts becoming profitable so its a good idea to have another job to cover your living expenses during that time.

4. Be good with money – Managing money isnt just “one of those things that you do” in business. It is what business is all about. If you cant manage your own funds now, you probably shouldnt be starting a business.

5. Start on a shoestring – Dont go renting a big officespace if you can start your business from home. Dont buy lots of expensive office furniture and electronics. A computer, fax machine, basic printer, internet connection, a phone and a basic toolkit should be enough for most businesses.

6. Understand how you will make a profit – Work out how much you will need to charge for your products and services in order to make a substantial profit. Take into account costs such as your advertising, utilities and rent. From there you can determine how much money you need to make each month to survive.

7. Get and keep the competitive edge – Perhaps you can strike up a special deal with your supplier to get items cheaper than your competitors. Be a professional on the products you are selling or have the friendliest staff.

8. Dont go it alone – Unless you are a accountant, a lawyer or a designer then you should hire professionals to do those tasks. In the long run, if you try and do it yourself you will waste more time and money than if you originally paid a professional to do it. Rememer your time isnt free anymore.

It is also a good idea to have someone you can bounce ideas off. Its especially important to have someone who will play devils advocate for you.

9. Be Professional – Everything you do should be professional. Your business cards, the way you act and even the way you dress. This shows your clients that you are a professional running a serious business.

10. Prepare for the worst – What would you do if your house/office burnt down right now? Would your customer database be backed up elsewhere or would it perish? Do you have adequate insurance if a clients computer perished in a fire, along with all its data?