Bill Bartmann Business Talk – Part 3 – Bill Bartmann Talks about New Business Start-ups

Feb. 25, 2009 - PRLog -- Tulsa, OK – Bill Bartmann continues his second interview series about essentials for business owners as he discusses early planning procedures of business start-ups.  Bill Bartmann said, “All successful businesses are started with an idea and motivation.  Many entertain the idea of less work for more money.  Though most business industries do not offer this benefit, I have no doubt about there being a few savvy entrepreneurs who have mastered this one.  Even if one expects to work less for more money, one must be willing to work hard and dedicate very long days, at first, to successfully establish a new business and build it from the ground, up.”  

Bill explained that whatever one’s reasons are for going into business, proper preparation is the key to gaining success and satisfaction from the business.  “Making the right choices in the beginning of your venture into business ownership will determine your degree of success or chances of failure,” said Bartmann.

One of the first steps to beginning business is the idea; what kind of business will you go into?  Bill Bartmann discussed some the choices, including a small home-based business, requiring less of an initial investment and reducing overhead by the expenses associated with leasing a building.  He also answered questions about opening a retail business, the costs of buying or leasing a building, and most importantly, how to choose a location and the market the business will attract.  Bill said, “To be successful you must understand what your business is about and if there is a need for your products or services in the area.  Location is crucial.  You want to be where the competition is low and the demand is high.”

Bill Bartmann offered tips on reducing the overhead cost when starting a new business, especially if one does not have a lot of capital or lines of credit.  He explained how some savvy entrepreneurs negotiate the terms of a new lease with a property owner.  “You might find that property owners are willing to agree to a profit split for use of space and become silent partners in your business.  With a well-prepared business plan in hand when negotiating with a landowner, you are presenting yourself as a serious business professional,” Bartmann explained.

Bill Bartmann offered suggestions to obtaining inventory and supplies and on developing a business relationship with vendors.  “Savvy entrepreneurs understand that many vendors may face competition and they welcome the chance to gain your future business as they extend credit to you to help you get started.  Bill said, “Be sure to show good faith by allocating as much of your profits as possible to making payments to the vendor to gain their trust as your business grows, and then you begin placing larger orders.”  

Starting a new business can be very demanding; operating a business has its pitfalls; business ownership can be a challenging process with its share of risks and rewards.  Bill Bartmann has experienced the ups and downs of business ownership as he has going from homeless to billionaire to bankrupt to billionaire again.  Bill Bartmann has developed an online course to help entrepreneurs make a good start in business and then successfully grow the business; learn more at http://www.billionaireu.com

Contact:

Bill Bartmann
8556-C E 101st Street
Tulsa, OK  74133
918-388-3328
bill@billbartmann.com


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