Can anyone recommend some books about starting your own business?

[raccoon]

Or buying/taking over an existing business?

I know there's tons of stuff out there. I don't plan to start a business just now, I just figure if I should lose my job, at my age going into my own business is about the only thing I can do.

[Cassandra]

1. The E-Myth...

Also, this was recommended to me (I'm in a creative business):
"The 4-Hour Workweek, Expanded and Updated: Expanded and Updated, With Over 100 New Pages of Cutting-Edge Content."
Timothy Ferriss

[zeos3]

10. +1

The Guerilla Marketing book, mentioned below, was also helpful.

[Sherman A1]

2. I would look at

Guerrilla Marketing for one series, they were pretty good as I recall.

I ran my own niche hobby/game store for 18 years and wouldn't really advise anyone to try something of that nature. If the situation is forced upon you, that is different of course.

[Fumesucker]

5. +1 on Guerrilla Marketing..

I also like Don Lancaster's "The Incredible Secret Money Machine"..

http://www.amazon.com/Incredible-Secret-Money-Machine-II/dp/1882193652

[no_hypocrisy]

3. Small Business for Dummies; Home-Based Business for Dummies.

These are primers to get you started.

[old mark]

4. Racoon, look into some courses at a community college rather than books -

I did location animal photography for over 5 years, losing maybe $30000 in the process. I finally had a talk with a guy who had a beautiful studio, great reputation, etc, who told me that he STILL was not self supporting after over 10 years-he worked at the local steel mill to support his family and the business.

It is NOT what it is put up to be... many of the successful small business owners I know either have other income or inherited a going business. To start from scratch is climbing a very high mountain, and some people are really not suited to it. I KNOW I am not - I have tried it at least 5 times.
That said, there used to be a thing called a SCORE program that can assign you a counsellor to help you through your early problems or just give you some coaching...Service Corps Of Retired Executives IIRC, through the Small Business Administration, if any of this is still in existance.
FWIW, you will get no help from any Federal agency and less than that from a bank.

mark

[Sherman A1]

7. Agreed & Well Said

Another thing to consider is turing a hobby into a business. I was speaking with a former photographer a few weeks ago, he had gone from hobbyist to commercial photographer to out of the business, having not picked up a camera if 5 years. I did the same thing with hobby/gaming. Turn your hobby or passion into a business and you can easily lose your hobby.

[old mark]

8. Exactly what happened to me...I LOVED photography, now I find it annoying,

especially that digital bullshit...I still have a 35mm outfit in a closet somewhere, lenses from 35mm to 250mm macro...I don't even remember what brand of camera it is...I do remember that I didn't like Nikons, though...


mark

[Bonhomme Richard]

6. Reading a book or two is OK but........

I would recommend you concentrate on what you would like to do, think about how you could do it better than others, and take a tentative leap while you are still working. Start it as a side business. Think about friends that have their own businesses. Is there any way you can tap into their experience? I can tell you from my experience (I have been working for myself for the past ten years) that your biggest hurdle is going to be having the guts to take that first step. The worst time to try to start a business is when you are actually out of work with zero income. You will need money for marketing, inventory, etc, etc.. It will also be more difficult, actually impossible, to get a line of credit from a bank if you do not have a steady income.
I started my business in my mid forties in the industrial distribution field as that was my background in sales. What started as distribution morphed into a manufacturing business (I had zero experience) when I was asked if I could make something for some one I met. I said sure without thinking about the fact that I never made a damn thing in my life, made what he had asked for which led to other things including a patent. I ended up with a product that helps the environment, saves the taxpayers a lot of money, and gives me a living, though I admit that things are tight right now.
The whole point of this is that once you start you have no idea which direction you may end up going. Good, bad, or indifferent. Opportunities do pop up. Take a chance. I had always thought why not do this. I will ride the wave as long as I can and if things go sour then I can always get a job like everyone else.

[old mark]

9. I ended up going back to college in my mid 40's for social work, got a civil service job...

Retired 3 years ago, still paying off my college loans. They get you one way or another, but we had no money and no job prospects, so school was the best choice and it turned out well for us.

I really agree that you should never try to start a business without 3 times as much money as you think you could possibly need...NOT when you are broke and out of work...that can get suicidal.


mark