Need Advice on Starting a Business – What Do You Think?

[Asp3ct]

Need Advice on Starting a Business – What Do You Think?

Hello everyone,

First of all, sorry for my bad English as it is not my first language.
I'm thinking of starting a company where I submit tenders to get deals. I've got some savings to keep things going for a year even if I don't make a profit right away. I've done tenders before and I have prior experience because I worked for a company that did exactly the same but of course they had good connections as they were in the business for some time, but I want to hear what you all think.
I am starting this company because I can't submit the tenders as an individual.
Is it a good idea to jump into this? Any advice or things to watch out for? Your thoughts would mean a lot to me!

Thank you

 

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[Nick T]

Need Advice on Starting a Business – What Do You Think?

Hello everyone,

First of all, sorry for my bad English as it is not my first language.
I'm thinking of starting a company where I submit tenders to get deals. I've got some savings to keep things going for a year even if I don't make a profit right away. I've done tenders before and I have prior experience because I worked for a company that did exactly the same but of course they had good connections as they were in the business for some time, but I want to hear what you all think.
I am starting this company because I can't submit the tenders as an individual.
Is it a good idea to jump into this? Any advice or things to watch out for? Your thoughts would mean a lot to me!

Thank you

If all you need is to incorporate (become a business) in your country there is no barrier to entry. However, it sounds like the connections are the barrier to entry. Why don't you just find industry connections to work with? They are also who will fund you because they understand the business, and you can keep your savings while getting to scale strategically. Resourcefulness > Resources

Five Commandments of Unscripted Entrepreneurship
"Businesses should fulfill a real need, have barriers to entry that protect against competition, give the entrepreneur control, be scalable beyond linear effort, and allow for the detachment of time from income. Read Unscripted , if you have not...

If I understand you right, you said...

"Help me start a company that allows me to leverage my experience in submitting tenders and my available savings, so I can successfully secure business deals and achieve financial independence, despite lacking the industry connections that established companies benefit from." ( Note: You could try solving this problem for others )

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