The Student News Site of Tarrant County College

The Collegian

The Student News Site of Tarrant County College

The Collegian

The Student News Site of Tarrant County College

The Collegian

Owner reveals secrets to starting business

By Michael Riddick/reporter

South students received tips and advice on starting their own business Nov. 4 from the chief executive officer of Knowledge for Success Inc.

Toni Allison presented Is Owning Your Own Business for You?, co-sponsored by Women in New Roles and career services.

Key points included emphasis on conducting market research, handling competition, managing finances and obtaining licensing.

Would-be entrepreneurs face numerous obstacles, Allison said. The biggest is their own fear of what to do if their business is successful.

“Learn to get past the fear of success,” she said.

Allison warned against doing business with family and friends.

“Friends and family are not your customers,” she said.

But Allison also advised the audience to have “set hours” if deciding to deal with them.

Allison told the audience to be prepared to work 24 hours a day for their prospective businesses to possibly be successful.

Government grant money to start a business does not exist, Allison said.

“You can’t get money unless you have money,” she said.

Allison estimated that 30 percent of total startup cost would be needed before the Small Business Association will discuss loans with someone. She outlined the steps to getting an Assumed Name Certificate from the County Clerk’s office, noting the cost of $20 as one of the most inexpensive business expenses.

Allison described herself as a “serial entrepreneur” with over 40 years of business ownership. She began working in a family-owned business at 16. From there, she had 20 years of bar ownership, followed by owning a health food store for five and a half years.

Knowledge for Success Inc. is a nonprofit organization helping small business owners and startups grow and maintain their businesses. Services include networking workshops and business plan creation.

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