Planet13 - 7:02 pm on Jul 26, 2011 (gmt 0)
Do your market research!
There's a quote that is sometimes attributed to Ben Franklin, sometimes attributed to Abraham Lincoln, but it goes like this:
"If I had three hours to cut down a tree, I would spend the first two hours sharpening my axe."
also, even though I have been doing ecommerce for ten years or so, I am just learning about all sorts of tools that have, apparently, been around for a long time to help you source labor. they are gong to have to learn how they can leverage their time and resources effectively. they will simply NOT be able to do it ALL themselves.
You know what? I would actually encourage them to borrow money from a bank or credit union to finance their endeavor. Want to know why?
Because a bank or credit union will REQUIRE THAT YOU HAVE A GOOD BUSINESS PLAN before they will loan you a penny. And a good business plan is THE BEST THING YOU CAN HAVE when starting a business.
I wish somebody had told me that all those years ago...