7 answers
Cate
Student
Miami Gardens, Florida
1
Question
7 answers
Theophilus Mensah
Entrepreneur
48
Answers
Grambling, Louisiana
Updated
Theophilus’s Answer
Hey Cate!
This is my favorite question on this platform. I have answered this same question several times and I always love to share my experiences here! This is how I started my business 5 years ago. I started my e-commerce skincare and haircare business at the age of 16. Here’s a practical guide based on what worked for me and I think it would be helpful to you as well.
1. Start with a Purpose and Vision
First of all, you have to Identify a problem and think about how you will solve it. That's simply business. Every successful business begins with a clear purpose. Think about a problem you want your business to solve and how to monetize that problem. There could be a lot of people doing the same business you are doing but think about what you want to achieve and how your business will make a difference. When I started my business in 2019, my vision was more than just selling products; it was about helping people feel confident in themselves. I was always happy I was able to convince people to buy from me. Your purpose should be something that keeps you motivated and connected to your customers.
2. Research the Market
Understanding your target audience is essential. Who are you selling to? Who are they, what do they need, and what can you offer that others don’t? I researched competitors and trends, observing what customers valued and where the gaps were. Use this knowledge to shape your offerings and find a unique angle for your business.
3. Build a Strong Brand
Your brand is more than just a name; it’s your business’s identity. Choose a name and create an image that communicates your values and appeals to your audience. Build a brand that people will remember and feel connected to.
4. Establish Partnerships and Reliable Operations
Relationships are key. Finding the right suppliers and partners can make or break your operations. I partnered with suppliers who shared my quality standards and delivery partners who could ensure a seamless experience for customers worldwide. Take time to build these connections because they’re essential to delivering on your promises.
5. Engage with Customers Consistently
Growing a customer base isn’t just about advertising; it’s about real engagement. Let your customers trust you and be open! Always communicate and keep them updated. I used online platforms to connect directly with my audience, answer questions, and create trust. Whether it’s social media, emails, or other channels, engage with your customers in a way that makes them feel valued and keeps them coming back.
6. Stay Adaptable and Track Progress
Every business needs flexibility. I tracked my customer engagement and adjusted based on what worked and what didn’t. For example, offering a flexible payment plan helped me make my products more accessible. Track your metrics, learn from them, and be ready to pivot based on what your customers need.
Finally, Persevere Through Challenges
Starting a business isn’t always easy, and there will be challenges along the way. When I faced obstacles, staying focused on my vision kept me moving forward. If you believe in your purpose and stay committed to learning and growing, you’ll build a business that not only meets market needs but also reflects who you are.
Now this is how I funded my business
When I first started my business, I didn’t have a lot of money to work with. Instead, I found creative ways to use what I had and build from there.
1. Start with Product Photos and Test Interest
I began by taking quality pictures of products and posting them on social media platforms. I used these photos to attract customers before even buying the products. This allowed me to gauge interest and confirm demand without investing money upfront. By showcasing the products, I was able to create buzz and connect with customers before I even stocked inventory.
2. Use Customer Payments to Fund Wholesale Purchases
Once I had interested customers, I used their payments to buy the products at wholesale prices from trusted partners. This approach allowed me to finance each sale without needing upfront capital. It also meant I could access wholesale rates, which kept my costs low and increased my profit margins.
3. Reinvest Profits to Build Inventory
With each sale, I reinvested the profits back into the business. Once I had enough cash flow, I could start purchasing products in advance and stocking them myself. This allowed me to offer faster delivery to my customers and also buy larger quantities, further lowering my costs per item.
4. Build Customer Trust and Grow Steadily
By communicating openly with customers about my process and staying transparent about delivery times, I built a loyal customer base. I focused on customer satisfaction and reinvested profits consistently, which helped me grow steadily over time.
Starting small, being resourceful, and reinvesting profits allowed me to scale up without taking on debt. This approach might take longer, but it builds a strong foundation and keeps you financially stable as you grow.
How do you market?
Know how to market and know your style and choice of words! It is very crucial. Use positive words in your marketing.
Compare these;
Imagine you sell a drink with a tag of 20% fat and I also sell the same drink with a tag of 80% fat-free. Which one sounds positive?
Let us break it down:
1. 20% Fat vs. 80% Fat-Free
a. “20% Fat” emphasizes the undesirable aspect, drawing attention to something people may want to avoid.
b. “80% Fat-Free” focuses on the positive, framing the product as a healthier option.
2. 100% Protein vs. Every Spoonful Contains Protein
a. “100% Protein” might sound overwhelming or unrealistic, as people often expect a mix of nutrients in food.
b. “Every Spoonful Contains Protein” suggests consistency and encourages the customer to visualize the nutritional benefit.
These are the key takeaways for Marketing:
Use Positive Framing: Focus on benefits or appealing attributes.
Be Relatable: Help customers imagine the experience or benefit (like enjoying a spoonful of protein-packed cornflakes).
Simplify Your Language: Use words that are easy to understand and emotionally engaging.
When done right, these techniques build trust and make your business stand out! All the best! See you again.
Remember consistency is key👍
This is my favorite question on this platform. I have answered this same question several times and I always love to share my experiences here! This is how I started my business 5 years ago. I started my e-commerce skincare and haircare business at the age of 16. Here’s a practical guide based on what worked for me and I think it would be helpful to you as well.
1. Start with a Purpose and Vision
First of all, you have to Identify a problem and think about how you will solve it. That's simply business. Every successful business begins with a clear purpose. Think about a problem you want your business to solve and how to monetize that problem. There could be a lot of people doing the same business you are doing but think about what you want to achieve and how your business will make a difference. When I started my business in 2019, my vision was more than just selling products; it was about helping people feel confident in themselves. I was always happy I was able to convince people to buy from me. Your purpose should be something that keeps you motivated and connected to your customers.
2. Research the Market
Understanding your target audience is essential. Who are you selling to? Who are they, what do they need, and what can you offer that others don’t? I researched competitors and trends, observing what customers valued and where the gaps were. Use this knowledge to shape your offerings and find a unique angle for your business.
3. Build a Strong Brand
Your brand is more than just a name; it’s your business’s identity. Choose a name and create an image that communicates your values and appeals to your audience. Build a brand that people will remember and feel connected to.
4. Establish Partnerships and Reliable Operations
Relationships are key. Finding the right suppliers and partners can make or break your operations. I partnered with suppliers who shared my quality standards and delivery partners who could ensure a seamless experience for customers worldwide. Take time to build these connections because they’re essential to delivering on your promises.
5. Engage with Customers Consistently
Growing a customer base isn’t just about advertising; it’s about real engagement. Let your customers trust you and be open! Always communicate and keep them updated. I used online platforms to connect directly with my audience, answer questions, and create trust. Whether it’s social media, emails, or other channels, engage with your customers in a way that makes them feel valued and keeps them coming back.
6. Stay Adaptable and Track Progress
Every business needs flexibility. I tracked my customer engagement and adjusted based on what worked and what didn’t. For example, offering a flexible payment plan helped me make my products more accessible. Track your metrics, learn from them, and be ready to pivot based on what your customers need.
Finally, Persevere Through Challenges
Starting a business isn’t always easy, and there will be challenges along the way. When I faced obstacles, staying focused on my vision kept me moving forward. If you believe in your purpose and stay committed to learning and growing, you’ll build a business that not only meets market needs but also reflects who you are.
Now this is how I funded my business
When I first started my business, I didn’t have a lot of money to work with. Instead, I found creative ways to use what I had and build from there.
1. Start with Product Photos and Test Interest
I began by taking quality pictures of products and posting them on social media platforms. I used these photos to attract customers before even buying the products. This allowed me to gauge interest and confirm demand without investing money upfront. By showcasing the products, I was able to create buzz and connect with customers before I even stocked inventory.
2. Use Customer Payments to Fund Wholesale Purchases
Once I had interested customers, I used their payments to buy the products at wholesale prices from trusted partners. This approach allowed me to finance each sale without needing upfront capital. It also meant I could access wholesale rates, which kept my costs low and increased my profit margins.
3. Reinvest Profits to Build Inventory
With each sale, I reinvested the profits back into the business. Once I had enough cash flow, I could start purchasing products in advance and stocking them myself. This allowed me to offer faster delivery to my customers and also buy larger quantities, further lowering my costs per item.
4. Build Customer Trust and Grow Steadily
By communicating openly with customers about my process and staying transparent about delivery times, I built a loyal customer base. I focused on customer satisfaction and reinvested profits consistently, which helped me grow steadily over time.
Starting small, being resourceful, and reinvesting profits allowed me to scale up without taking on debt. This approach might take longer, but it builds a strong foundation and keeps you financially stable as you grow.
How do you market?
Know how to market and know your style and choice of words! It is very crucial. Use positive words in your marketing.
Compare these;
Imagine you sell a drink with a tag of 20% fat and I also sell the same drink with a tag of 80% fat-free. Which one sounds positive?
Let us break it down:
1. 20% Fat vs. 80% Fat-Free
a. “20% Fat” emphasizes the undesirable aspect, drawing attention to something people may want to avoid.
b. “80% Fat-Free” focuses on the positive, framing the product as a healthier option.
2. 100% Protein vs. Every Spoonful Contains Protein
a. “100% Protein” might sound overwhelming or unrealistic, as people often expect a mix of nutrients in food.
b. “Every Spoonful Contains Protein” suggests consistency and encourages the customer to visualize the nutritional benefit.
These are the key takeaways for Marketing:
Use Positive Framing: Focus on benefits or appealing attributes.
Be Relatable: Help customers imagine the experience or benefit (like enjoying a spoonful of protein-packed cornflakes).
Simplify Your Language: Use words that are easy to understand and emotionally engaging.
When done right, these techniques build trust and make your business stand out! All the best! See you again.
Remember consistency is key👍
David Chou
Project Management
8
Answers
Los Angeles, California
Updated
David’s Answer
To kick-start your entrepreneurial journey, you first need a sparkling business idea. After that, it's essential to dive into market research to grasp who your potential customers are and identify your competition. Next, it's time to craft a comprehensive business plan. This plan should outline your ultimate goal, your strategies for generating income, and an analysis of your competitors. Finally, you'll need to secure the necessary funding for your venture and establish your business operations. Remember, every step is a learning experience and a step closer to success. Keep going!
James Constantine Frangos
Consultant Dietitian & Software Developer since 1972 => Nutrition Education => Health & Longevity => Self-Actualization.
6510
Answers
Gold Coast, Queensland, Australia
Updated
James Constantine’s Answer
Hello Cate!
How to Start a Business from Scratch
Starting a business from scratch can be an exciting yet challenging endeavor. It involves careful planning, research, and execution. Below is a step-by-step guide to help you navigate the process of launching your own business.
1. Identify Your Business Idea
The first step in starting a business is to identify a viable business idea. This could stem from your interests, skills, or market needs. Consider the following:
Market Research: Analyze current trends and demands in the market. Look for gaps that your business could fill.
Personal Passion: Choose something you are passionate about; this will keep you motivated during tough times.
Feasibility: Assess whether your idea is practical and if it can generate profit.
2. Create a Business Plan
A well-thought-out business plan serves as a roadmap for your business. It outlines your goals, strategies, and financial projections. Key components include:
Executive Summary: A brief overview of your business concept.
Market Analysis: Detailed information about your target market and competition.
Marketing Strategy: How you plan to attract and retain customers.
Financial Projections: Estimated income, expenses, and profitability over time.
3. Choose Your Business Structure
Decide on the legal structure of your business, which will affect taxes, liability, and registration requirements. Common structures include:
Sole Proprietorship: Owned by one person; simplest form but offers no personal liability protection.
Partnership: Owned by two or more people; profits are shared among partners.
Corporation (C-Corp or S-Corp): More complex structure that provides liability protection but requires more regulatory compliance.
Limited Liability Company (LLC): Combines benefits of sole proprietorships and corporations regarding liability protection and tax flexibility.
Consult with a legal professional to determine the best structure for your needs.
4. Register Your Business
Once you’ve chosen a name and structure for your business, you’ll need to register it with the appropriate government authorities:
Choose a Business Name: Ensure it’s unique and not already in use by another entity.
Register with State Authorities: Depending on your location, you may need to register with state or local governments.
Obtain Necessary Licenses/Permits: Research what licenses or permits are required for your specific industry.
5. Set Up Your Finances
Establishing sound financial practices is crucial for any new business:
Open a Business Bank Account: Keep personal finances separate from business finances.
Set Up Accounting Systems: Use accounting software or hire an accountant to manage finances effectively.
Understand Tax Obligations: Familiarize yourself with federal, state, and local tax requirements relevant to your business.
6. Develop Your Brand Identity
Creating a strong brand identity helps differentiate your business from competitors:
Logo Design: Invest in professional logo design that reflects your brand values.
Website Development: Build an online presence through a professional website showcasing products/services.
Social Media Presence: Utilize social media platforms to engage with potential customers.
7. Launch Your Business
With everything in place, it’s time to launch:
Marketing Campaigns: Implement marketing strategies outlined in your plan to attract customers (e.g., social media ads, email marketing).
Networking Events: Attend industry-related events to connect with potential clients and partners.
After launching, continuously monitor performance metrics against goals set in your business plan.
8. Evaluate and Adapt
Post-launch evaluation is essential for long-term success:
Customer Feedback: Regularly seek feedback from customers to improve products/services.
Financial Review: Analyze financial performance periodically; adjust budgets as necessary based on actual performance versus projections.
By following these steps diligently while remaining adaptable to changes in the market environment, you can successfully start and grow a thriving business from scratch.
Top 3 Authoritative Sources Used in Answering this Question:
U.S. Small Business Administration (SBA) - The SBA provides comprehensive resources on how to start and manage small businesses including guides on writing business plans and understanding legal structures.
Score.org (Service Corps of Retired Executives) - SCORE offers free mentoring services along with workshops that cover various aspects of starting a small business including marketing strategies and financial management.
Entrepreneur.com - This publication features articles written by experts covering all facets of entrepreneurship including startup advice, market analysis techniques, and branding strategies tailored for new businesses.
Probability the answer is correct: 95%
God Bless You, Richly!
James Constantine,
The Little Old Aussie Battler.
How to Start a Business from Scratch
Starting a business from scratch can be an exciting yet challenging endeavor. It involves careful planning, research, and execution. Below is a step-by-step guide to help you navigate the process of launching your own business.
1. Identify Your Business Idea
The first step in starting a business is to identify a viable business idea. This could stem from your interests, skills, or market needs. Consider the following:
Market Research: Analyze current trends and demands in the market. Look for gaps that your business could fill.
Personal Passion: Choose something you are passionate about; this will keep you motivated during tough times.
Feasibility: Assess whether your idea is practical and if it can generate profit.
2. Create a Business Plan
A well-thought-out business plan serves as a roadmap for your business. It outlines your goals, strategies, and financial projections. Key components include:
Executive Summary: A brief overview of your business concept.
Market Analysis: Detailed information about your target market and competition.
Marketing Strategy: How you plan to attract and retain customers.
Financial Projections: Estimated income, expenses, and profitability over time.
3. Choose Your Business Structure
Decide on the legal structure of your business, which will affect taxes, liability, and registration requirements. Common structures include:
Sole Proprietorship: Owned by one person; simplest form but offers no personal liability protection.
Partnership: Owned by two or more people; profits are shared among partners.
Corporation (C-Corp or S-Corp): More complex structure that provides liability protection but requires more regulatory compliance.
Limited Liability Company (LLC): Combines benefits of sole proprietorships and corporations regarding liability protection and tax flexibility.
Consult with a legal professional to determine the best structure for your needs.
4. Register Your Business
Once you’ve chosen a name and structure for your business, you’ll need to register it with the appropriate government authorities:
Choose a Business Name: Ensure it’s unique and not already in use by another entity.
Register with State Authorities: Depending on your location, you may need to register with state or local governments.
Obtain Necessary Licenses/Permits: Research what licenses or permits are required for your specific industry.
5. Set Up Your Finances
Establishing sound financial practices is crucial for any new business:
Open a Business Bank Account: Keep personal finances separate from business finances.
Set Up Accounting Systems: Use accounting software or hire an accountant to manage finances effectively.
Understand Tax Obligations: Familiarize yourself with federal, state, and local tax requirements relevant to your business.
6. Develop Your Brand Identity
Creating a strong brand identity helps differentiate your business from competitors:
Logo Design: Invest in professional logo design that reflects your brand values.
Website Development: Build an online presence through a professional website showcasing products/services.
Social Media Presence: Utilize social media platforms to engage with potential customers.
7. Launch Your Business
With everything in place, it’s time to launch:
Marketing Campaigns: Implement marketing strategies outlined in your plan to attract customers (e.g., social media ads, email marketing).
Networking Events: Attend industry-related events to connect with potential clients and partners.
After launching, continuously monitor performance metrics against goals set in your business plan.
8. Evaluate and Adapt
Post-launch evaluation is essential for long-term success:
Customer Feedback: Regularly seek feedback from customers to improve products/services.
Financial Review: Analyze financial performance periodically; adjust budgets as necessary based on actual performance versus projections.
By following these steps diligently while remaining adaptable to changes in the market environment, you can successfully start and grow a thriving business from scratch.
Top 3 Authoritative Sources Used in Answering this Question:
U.S. Small Business Administration (SBA) - The SBA provides comprehensive resources on how to start and manage small businesses including guides on writing business plans and understanding legal structures.
Score.org (Service Corps of Retired Executives) - SCORE offers free mentoring services along with workshops that cover various aspects of starting a small business including marketing strategies and financial management.
Entrepreneur.com - This publication features articles written by experts covering all facets of entrepreneurship including startup advice, market analysis techniques, and branding strategies tailored for new businesses.
Probability the answer is correct: 95%
God Bless You, Richly!
James Constantine,
The Little Old Aussie Battler.
Eddy H
Consultant
27
Answers
Seattle, Washington
Updated
Eddy’s Answer
Starting a business from scratch requires careful planning, determination, and strategic execution. Begin by identifying a clear business idea based on your passions, skills, and market demand. Conduct thorough market research to understand your target audience, competition, and industry trends. Create a detailed business plan outlining your goals, value proposition, funding requirements, and marketing strategies. Secure funding through personal savings, investors, or loans, and choose a suitable business structure, such as a sole proprietorship, partnership, or limited company. Register your business, obtain necessary licenses, and set up operations, including a website, social media presence, and any physical infrastructure. Focus on delivering exceptional products or services while continuously refining your approach based on customer feedback. Starting small and growing sustainably can help you build a strong foundation for long-term success.
Wishing you best of luck as you try this out!
Wishing you best of luck as you try this out!
Nada L
IT Software
123
Answers
Sydney, New South Wales, Australia
Updated
Nada’s Answer
Hey Cate,
It's inspiring that you're thinking about starting a business from scratch right out of school! It takes guts, creativity, and a whole lot of hustle, but it can be incredibly rewarding. Here's some advice to guide you on your journey:
1. Idea Phase:
* Identify a Problem: What frustrates you? What do you wish existed? Often, the best business ideas come from solving a problem you've experienced yourself.
* Validate Your Idea: Talk to potential customers. Would they pay for your solution? Don't be afraid to get feedback early on.
* Start Small, Think Big: You don't need a groundbreaking invention. Sometimes, a simple idea executed well can be incredibly successful.
2. Planning and Preparation:
* Create a Business Plan: It doesn't have to be a formal document, but outline your goals, target market, revenue model, and how you'll reach customers.
* Research Your Market: Who are your competitors? What are their strengths and weaknesses? How can you differentiate yourself?
* Legal and Financial Basics: Choose a business structure (sole proprietorship, LLC, etc.), get any necessary licenses and permits, and understand basic accounting.
3. Building Your Brand:
* Choose a Name and Logo: Your brand is your identity. Make it memorable and relevant to your business.
* Build an Online Presence: Create a website or social media profiles to showcase your business and connect with potential customers.
* Content is King: Share valuable content related to your industry or niche to attract and engage your audience.
4. Getting Your First Customers:
* Tap Your Network: Tell your friends, family, and former teachers about your business.
* Leverage Social Media: Use platforms like Instagram, Facebook, or TikTok to reach your target audience.
* Offer Excellent Customer Service: Happy customers are your best marketing tool.
5. Growth Strategies:
* Word-of-Mouth Marketing: Encourage satisfied customers to spread the word.
* Partnerships: Collaborate with other businesses or influencers to reach a wider audience.
* Content Marketing: Create blog posts, videos, or social media content that provides value to your audience and attracts new customers.
* Paid Advertising: Consider using online advertising platforms (like Google Ads or social media ads) to reach a larger audience.
6. Essential Skills for Success:
* Sales and Marketing: Learn how to effectively promote your business and convert leads into customers.
* Financial Management: Track your income and expenses, manage your cash flow, and make smart financial decisions.
* Customer Service: Provide excellent customer service to build loyalty and get repeat business.
* Resilience and Perseverance: Building a business is hard work. Be prepared for setbacks and stay focused on your goals.
Resources:
* Small business development centers (SBDCs): These centers offer free or low-cost counseling and training to small business owners.
* SCORE: This nonprofit organization provides free mentoring and resources to entrepreneurs.
* Online business courses: Platforms like Coursera, Udemy, and Skillshare offer a wide range of courses on starting and running a business.
Starting a business from nothing is an incredible journey. Embrace the challenges, learn from your mistakes, and never stop believing in your vision. Good luck!
It's inspiring that you're thinking about starting a business from scratch right out of school! It takes guts, creativity, and a whole lot of hustle, but it can be incredibly rewarding. Here's some advice to guide you on your journey:
1. Idea Phase:
* Identify a Problem: What frustrates you? What do you wish existed? Often, the best business ideas come from solving a problem you've experienced yourself.
* Validate Your Idea: Talk to potential customers. Would they pay for your solution? Don't be afraid to get feedback early on.
* Start Small, Think Big: You don't need a groundbreaking invention. Sometimes, a simple idea executed well can be incredibly successful.
2. Planning and Preparation:
* Create a Business Plan: It doesn't have to be a formal document, but outline your goals, target market, revenue model, and how you'll reach customers.
* Research Your Market: Who are your competitors? What are their strengths and weaknesses? How can you differentiate yourself?
* Legal and Financial Basics: Choose a business structure (sole proprietorship, LLC, etc.), get any necessary licenses and permits, and understand basic accounting.
3. Building Your Brand:
* Choose a Name and Logo: Your brand is your identity. Make it memorable and relevant to your business.
* Build an Online Presence: Create a website or social media profiles to showcase your business and connect with potential customers.
* Content is King: Share valuable content related to your industry or niche to attract and engage your audience.
4. Getting Your First Customers:
* Tap Your Network: Tell your friends, family, and former teachers about your business.
* Leverage Social Media: Use platforms like Instagram, Facebook, or TikTok to reach your target audience.
* Offer Excellent Customer Service: Happy customers are your best marketing tool.
5. Growth Strategies:
* Word-of-Mouth Marketing: Encourage satisfied customers to spread the word.
* Partnerships: Collaborate with other businesses or influencers to reach a wider audience.
* Content Marketing: Create blog posts, videos, or social media content that provides value to your audience and attracts new customers.
* Paid Advertising: Consider using online advertising platforms (like Google Ads or social media ads) to reach a larger audience.
6. Essential Skills for Success:
* Sales and Marketing: Learn how to effectively promote your business and convert leads into customers.
* Financial Management: Track your income and expenses, manage your cash flow, and make smart financial decisions.
* Customer Service: Provide excellent customer service to build loyalty and get repeat business.
* Resilience and Perseverance: Building a business is hard work. Be prepared for setbacks and stay focused on your goals.
Resources:
* Small business development centers (SBDCs): These centers offer free or low-cost counseling and training to small business owners.
* SCORE: This nonprofit organization provides free mentoring and resources to entrepreneurs.
* Online business courses: Platforms like Coursera, Udemy, and Skillshare offer a wide range of courses on starting and running a business.
Starting a business from nothing is an incredible journey. Embrace the challenges, learn from your mistakes, and never stop believing in your vision. Good luck!
Rebecca Tang
Banking
1867
Answers
Hong Kong
Updated
Rebecca’s Answer
Thank you for your question. I am glad to hear that you would like to become an entrepreneur. Have you thought about what industry you have interest?
Below are my suggestions:
1. Think about what industry you have interest or strength
2. Do some analysis on the industry, eg entry criteria, competition status, any alternative or substitute
3. Attend industry related courses and management courses
4. Work industry some time to understand the business model and establish people network
5. Start the business online first if possible
6. Establish long term business development plan with short term milestones. Review it regularly and make adjustments if necessary
Hope this helps! Good luck!
May Almighty God bless you!
Below are my suggestions:
1. Think about what industry you have interest or strength
2. Do some analysis on the industry, eg entry criteria, competition status, any alternative or substitute
3. Attend industry related courses and management courses
4. Work industry some time to understand the business model and establish people network
5. Start the business online first if possible
6. Establish long term business development plan with short term milestones. Review it regularly and make adjustments if necessary
Hope this helps! Good luck!
May Almighty God bless you!
deborah kania, bfa, mba
Marketing
72
Answers
New Bern, North Carolina
Updated
deborah’s Answer
Hello Cate! I like that you like business :) The other answers are really good and helpful to you regarding steps needed to start a business. I want to highlight a few essential steps that cannot be skipped:
Business planning - This is just getting answers for many questions required to be prepared to successfully launch and operate your business.
Risk-Tolerant Mindset - Willingness to take chances and make mistakes, and learn, when first start working in your new business. Business plans help reduce risks, but when you start the business there will be situations that you could not have anticipated in the business planning stage. And a mindset that looks at challenges as opportunities.
Comfort and desire to learn and do these things well - bookkeeping/recordkeeping, selling, and customer service. These are are even more important that the product product or service you are providing. You have to have the same level of passion for managing the business as for the product/service you are passionate about
Build a team - No entrepreneur can be successful alone. You may have employees or not. In addition, build relationship with other entrepreneurs, and advisors (financial, legal, business), and others who have to support you (family, friends).
Use all the learning and support resources available to you - Education/training, mentoring, etc. Near you: https://business.fiu.edu/faculty-and-research/centers-institutes/sbdc/, online: https://www.sba.gov/, https://www.score.org/
Good luck!
Business planning - This is just getting answers for many questions required to be prepared to successfully launch and operate your business.
Risk-Tolerant Mindset - Willingness to take chances and make mistakes, and learn, when first start working in your new business. Business plans help reduce risks, but when you start the business there will be situations that you could not have anticipated in the business planning stage. And a mindset that looks at challenges as opportunities.
Comfort and desire to learn and do these things well - bookkeeping/recordkeeping, selling, and customer service. These are are even more important that the product product or service you are providing. You have to have the same level of passion for managing the business as for the product/service you are passionate about
Build a team - No entrepreneur can be successful alone. You may have employees or not. In addition, build relationship with other entrepreneurs, and advisors (financial, legal, business), and others who have to support you (family, friends).
Use all the learning and support resources available to you - Education/training, mentoring, etc. Near you: https://business.fiu.edu/faculty-and-research/centers-institutes/sbdc/, online: https://www.sba.gov/, https://www.score.org/
Good luck!