4 answers
1
Question
Asked
496 views
How can i start my own business?
Im 16 in the 11th grade and was wondering how to start your own business
#business #management #marketing
Login to comment
4 answers
Updated
Srilu’s Answer
Its good to see you are interested in knowing the answer to this question...but there is no cookie cut answer to this. I can tell you what could help in starting a business:
1. Build a skill or talent on which the business can be based. E.g. if you are good at baking, try your hand at starting a made-to-order bakery.
2. Research a niche market in your area of interest & try to fill in that gap.
3. Speak to like minded people who share the same interests as you to brainstorm & come up with a business idea.
Not all business have to be or meant to be the next unicorn, even having lemonade stand on a hot summer afternoon is a business idea. Let your passion, interest & skills guide you!
1. Build a skill or talent on which the business can be based. E.g. if you are good at baking, try your hand at starting a made-to-order bakery.
2. Research a niche market in your area of interest & try to fill in that gap.
3. Speak to like minded people who share the same interests as you to brainstorm & come up with a business idea.
Not all business have to be or meant to be the next unicorn, even having lemonade stand on a hot summer afternoon is a business idea. Let your passion, interest & skills guide you!
Thank you!
Brianna
Updated
Colin’s Answer
Hi Brianna,
This is a great question, and I feel like I could write an essay as a response. Focusing on entrepreneurship, especially at a young age, is a great career decision. At least for me, the most important aspect of starting a business has been to focus on what you're good at.
Most people have at least one thing, regardless of how obscure it is, that they're really good at AND able to be excited about. It might be running a restaurant, or painting, or programming, or anything else you're into - whatever it is, find that thing. If you're not passionate about what you're doing, you'll have a hard time succeeding.
After, and only after, you know what you want to do, should you worry about how to ensure it's monetizable, profitable, and start to think on the business side. Running payroll, registering a business entity, hiring people, etc. are all important steps, but they're all secondary to finding your passion. If you need a recommendation, I've had success using Stripe Atlas (https://stripe.com/atlas) for this in the past.
From there, just start working - there will be very long times where it seems like nothing is happening. No one starts a business and has instant success, and that's ok. If you're passionate about what you do, and genuinely enjoy it, the time flies.
This is a great question, and I feel like I could write an essay as a response. Focusing on entrepreneurship, especially at a young age, is a great career decision. At least for me, the most important aspect of starting a business has been to focus on what you're good at.
Most people have at least one thing, regardless of how obscure it is, that they're really good at AND able to be excited about. It might be running a restaurant, or painting, or programming, or anything else you're into - whatever it is, find that thing. If you're not passionate about what you're doing, you'll have a hard time succeeding.
After, and only after, you know what you want to do, should you worry about how to ensure it's monetizable, profitable, and start to think on the business side. Running payroll, registering a business entity, hiring people, etc. are all important steps, but they're all secondary to finding your passion. If you need a recommendation, I've had success using Stripe Atlas (https://stripe.com/atlas) for this in the past.
From there, just start working - there will be very long times where it seems like nothing is happening. No one starts a business and has instant success, and that's ok. If you're passionate about what you do, and genuinely enjoy it, the time flies.
Updated
Aloysius’s Answer
Brianna, firstly let me appreciate you for your thinking- simply amazed that you're thinking about this in your teens! I loved the inputs you've received thus far from Srilu and here are my suggestions:
1) You need to spend time to unpack your true passion, motivation for going into business
2) Explore places like Start-up businesses, online or brick and mortar establishments (to gain some perspective from the locations you're interested to launch)
3)Make a firm resolve to continue to strive despite the ebbs and the flow that the business life would bring you
4) Grow you understanding of money matters, and business matters.
Sure hope you find these links useful:
Practical Business Skills:
https://www.practicalmoneyskills.com/
Practical Money Skills:
https://www.practicalmoneyskills.com/
Good luck and do feel to reach out if you already have your top 2-3 business ideas and feel you need additional guidance.
Best wishes to your entrepreneurial spirit, may your passion ignite further.
1) You need to spend time to unpack your true passion, motivation for going into business
2) Explore places like Start-up businesses, online or brick and mortar establishments (to gain some perspective from the locations you're interested to launch)
3)Make a firm resolve to continue to strive despite the ebbs and the flow that the business life would bring you
4) Grow you understanding of money matters, and business matters.
Sure hope you find these links useful:
Practical Business Skills:
https://www.practicalmoneyskills.com/
Practical Money Skills:
https://www.practicalmoneyskills.com/
Good luck and do feel to reach out if you already have your top 2-3 business ideas and feel you need additional guidance.
Best wishes to your entrepreneurial spirit, may your passion ignite further.
Updated
Lisa’s Answer
Hi Brianne,
It is so exciting to see high school students taking the initiative to pursue their passions! I can definitely list out some things you can do to start the process of establishing your own business:
1) Brainstorming what your business's mission is. Thinking more about what you want your business to focus on, what is the structure of the business, what is the purpose of the business and the goals is definitely the first step.
2) Reaching out to people around you (mentors, family, teachers, faculty at school, community members, students, etc.) and asking for advice/support to push-start this idea. Starting your own business takes a lot of time and resources, and talking to people will help kick off this process!
3) Brainstorm how you want to run/govern your business! Every business needs strong leadership, so spreading the word and getting more helping hands to help start your business is key!
I recognize that these three points take a long time to figure out. Some advice I can give you is not to give up and start small scale before going all in! There will definitely be times where things get hard/frustrating, but learning from your mistakes and turning them into lessons will be key to having a successful business! Wishing you the best of luck! :)
It is so exciting to see high school students taking the initiative to pursue their passions! I can definitely list out some things you can do to start the process of establishing your own business:
1) Brainstorming what your business's mission is. Thinking more about what you want your business to focus on, what is the structure of the business, what is the purpose of the business and the goals is definitely the first step.
2) Reaching out to people around you (mentors, family, teachers, faculty at school, community members, students, etc.) and asking for advice/support to push-start this idea. Starting your own business takes a lot of time and resources, and talking to people will help kick off this process!
3) Brainstorm how you want to run/govern your business! Every business needs strong leadership, so spreading the word and getting more helping hands to help start your business is key!
I recognize that these three points take a long time to figure out. Some advice I can give you is not to give up and start small scale before going all in! There will definitely be times where things get hard/frustrating, but learning from your mistakes and turning them into lessons will be key to having a successful business! Wishing you the best of luck! :)