Hi Guys....is nice to see all the new and future entrepreneur over here...

I started buynow.com.my since 1999 with RM5k capital.....me and my wife at the age of 29

today we are doing 4-5 mil a year revenue.....

I made money and i lose money.....thus, i think the following are what i THINK are important...and hope it help!
**again, very personal experince...you extract what good for you and your business.

1. invest into you - reading and keep learning
why some co made money, another loss money? all the same nature of business, same roll in that location.
This is a lot to do which what you know, how you do it and who you know.

2. Capital
Most people start business thinking about the capital....but if you don't have experience, and you took 200k to start something....likely you will lose it. Then you will start blaming into some others factor. (e.g. economic, business environment, your partner, your staff etc) last blame on yourself.

Let start small...said anything below 20k, and you can made 3k a month.....i consider that good return, then you can scale up to 40k or 80k...but the keys are....profit all the way....

**i start my business with 5k and made 3-5k a month....and we growth...then i manage to raise 1 mil from banks.....and i losse money....strange right!!!

3. Business philosophy - if you are not making money.....likely you have a wrong philosophy

focus -
instead of too many different business, too many locaton, too many people and problem, why not 1-2 location, 1 business but double the profit?

Activity level -
Most small business owner think they want to grow big....real big. Then we put in a lot of effort and money and try new things, people, concepts....and losses money.

Let think differently, ask your self this question:
1. Owner - you are responsible to double or triple your current income / profit.....how to you do it?

2. staff - they are to support you, your activities.....not sales and profit.....(or maybe partial, especially less than 10 people company)
more info on future update:
diy@computerrepairdiy.com