7 answers
Montreal
Student
Memphis, Tennessee
2
Questions
Asked
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How can I start my own business and become a entrepreneur
I am 6'2. I am a junior. I have 2 siblings 1 girl 1 boy. I would like to start my own business one day. #entrepreneurship #entrepreneur #startups
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7 answers
Nicole Nelson
Head of Sales and Operations
29
Answers
American Fork, Utah
Updated
Nicole’s Answer
Find a mentor! Find someone who has already walked this path that you can pick up the phone at any point and ask questions along the way. It will save you time and energy to have a go-to that has already walked your path.
James Constantine Frangos
Consultant Dietitian & Software Developer since 1972 => Nutrition Education => Health & Longevity => Self-Actualization.
6084
Answers
Gold Coast, Queensland, Australia
Updated
James Constantine’s Answer
Hello Montreal,
How to Start Your Own Business and Become an Entrepreneur
Starting your own business and becoming an entrepreneur can be an exciting and rewarding journey. Here are some steps you can take to kickstart your entrepreneurial aspirations:
1. Identify Your Passion and Idea: The first step in starting a business is to identify what you are passionate about. Think about your interests, skills, and experiences. Consider problems you see around you that you could potentially solve with a product or service.
2. Conduct Market Research: Once you have a business idea, it’s crucial to conduct market research to understand the demand for your product or service. Analyze your target market, competitors, and industry trends to validate your idea.
3. Create a Business Plan: A well-thought-out business plan is essential for any startup. It serves as a roadmap for your business and outlines your goals, target market, financial projections, marketing strategy, and more.
4. Secure Funding: Depending on the type of business you want to start, you may need funding to get it off the ground. Explore different options such as bootstrapping, seeking investors, applying for loans, or crowdfunding.
5. Choose a Business Structure: Decide on the legal structure of your business, whether it’s a sole proprietorship, partnership, limited liability company (LLC), or corporation. Each structure has its own implications for taxes, liability, and operations.
6. Register Your Business: Registering your business involves choosing a name and registering it with the appropriate government authorities. You may also need to obtain licenses or permits depending on the nature of your business.
7. Build Your Brand: Develop a strong brand identity that resonates with your target audience. This includes creating a logo, website, marketing materials, and establishing a presence on social media platforms.
8. Launch Your Business: Once everything is in place, it’s time to launch your business! Promote your products or services through various marketing channels and start building relationships with customers.
9. Stay Agile and Adapt: The entrepreneurial journey is full of challenges and uncertainties. Stay agile, be willing to adapt to changes in the market, listen to customer feedback, and continuously innovate to stay competitive.
10. Seek Mentorship and Networking Opportunities: Surround yourself with mentors, advisors, and fellow entrepreneurs who can provide guidance and support along the way. Networking events and entrepreneurship programs can also help you expand your knowledge and connections in the industry.
Becoming an entrepreneur requires dedication, hard work, resilience, and a willingness to take risks. By following these steps and staying committed to your vision, you can turn your dream of starting a business into a reality.
Top 3 Authoritative Sources Used:
Entrepreneur: A leading publication focused on entrepreneurship, startups, small business management, and growth strategies.
Small Business Administration (SBA): A U.S. government agency that provides resources and support for small businesses including funding options, business planning tools, and regulatory guidance.
Harvard Business Review: A renowned source for insights on management practices, leadership strategies, innovation trends in business that can be valuable for aspiring entrepreneurs looking to start their own ventures.
God Bless You,
JC.
How to Start Your Own Business and Become an Entrepreneur
Starting your own business and becoming an entrepreneur can be an exciting and rewarding journey. Here are some steps you can take to kickstart your entrepreneurial aspirations:
1. Identify Your Passion and Idea: The first step in starting a business is to identify what you are passionate about. Think about your interests, skills, and experiences. Consider problems you see around you that you could potentially solve with a product or service.
2. Conduct Market Research: Once you have a business idea, it’s crucial to conduct market research to understand the demand for your product or service. Analyze your target market, competitors, and industry trends to validate your idea.
3. Create a Business Plan: A well-thought-out business plan is essential for any startup. It serves as a roadmap for your business and outlines your goals, target market, financial projections, marketing strategy, and more.
4. Secure Funding: Depending on the type of business you want to start, you may need funding to get it off the ground. Explore different options such as bootstrapping, seeking investors, applying for loans, or crowdfunding.
5. Choose a Business Structure: Decide on the legal structure of your business, whether it’s a sole proprietorship, partnership, limited liability company (LLC), or corporation. Each structure has its own implications for taxes, liability, and operations.
6. Register Your Business: Registering your business involves choosing a name and registering it with the appropriate government authorities. You may also need to obtain licenses or permits depending on the nature of your business.
7. Build Your Brand: Develop a strong brand identity that resonates with your target audience. This includes creating a logo, website, marketing materials, and establishing a presence on social media platforms.
8. Launch Your Business: Once everything is in place, it’s time to launch your business! Promote your products or services through various marketing channels and start building relationships with customers.
9. Stay Agile and Adapt: The entrepreneurial journey is full of challenges and uncertainties. Stay agile, be willing to adapt to changes in the market, listen to customer feedback, and continuously innovate to stay competitive.
10. Seek Mentorship and Networking Opportunities: Surround yourself with mentors, advisors, and fellow entrepreneurs who can provide guidance and support along the way. Networking events and entrepreneurship programs can also help you expand your knowledge and connections in the industry.
Becoming an entrepreneur requires dedication, hard work, resilience, and a willingness to take risks. By following these steps and staying committed to your vision, you can turn your dream of starting a business into a reality.
Top 3 Authoritative Sources Used:
Entrepreneur: A leading publication focused on entrepreneurship, startups, small business management, and growth strategies.
Small Business Administration (SBA): A U.S. government agency that provides resources and support for small businesses including funding options, business planning tools, and regulatory guidance.
Harvard Business Review: A renowned source for insights on management practices, leadership strategies, innovation trends in business that can be valuable for aspiring entrepreneurs looking to start their own ventures.
God Bless You,
JC.
Eliot Popper
Financial Advisor
1
Answer
Boca Raton
Updated
Eliot’s Answer
Hi,
I would focus on your grades and schoolwork. It is very important to master your math and financial skills. Also, go to college and graduate with a Bachelor's and possibly Master's Degree. Always focus on how you can be better and never lose your determination. We live in an amazing world and you can achieve anything when you are focused.
Sincerely,
Eliot
I would focus on your grades and schoolwork. It is very important to master your math and financial skills. Also, go to college and graduate with a Bachelor's and possibly Master's Degree. Always focus on how you can be better and never lose your determination. We live in an amazing world and you can achieve anything when you are focused.
Sincerely,
Eliot
Ryan Nichols
Compensation Analyst
8
Answers
Boston, Massachusetts
Updated
Ryan’s Answer
You have a great attitude for becoming an entrepreneur. Try hard in school, learn as much as you can in a field that interests you. Look for opportunities in your area that you can fill the need for, learn new skills and gain valuable work experience. Have conversations with people that are in the career you want to be in to learn how they got to where they are. Many professionals are very willing to make the time for an informational interview.
Excellent advice Ryan!
Amy Keefner
Simeon Snow
Risk Assurance
1790
Answers
Houston, Texas
Updated
Simeon’s Answer
You'll want to develop a detailed business plan. Understand your costs including insurance, leasing, taxes, employees costs, advertising, etc. There are business plan softwares that you can purchase that will guide you through this process. Do a market analysis to see what the demand is for the industry you're looking to get into and if you have a unique way of breaking into the market. Talk to people from the industry to see what challenges are unique to that industry.
Matthew Washington
Talent Acquisition Advisor
2
Answers
Denver, Colorado
Updated
Matthew’s Answer
Hi Montreal,
First, ask yourself what you want to do. What business could you start, that if you didn't get paid to do it, you'd still be happy doing it?
Second, does this provide some value to humanity? Does this allow you the opportunity to help others or just make money. While you need money to survive, money alone will not make you happy.
Third, Have a plan and execute it. Think through all the possibilities, Be open to other possibilities, Value valuable input from people you trust. Don't be a know it all. Learning and growing is a lifelong journey.
Fourth, Don't be afraid to fail. Failure are the bricks that pave the way to success. Some plans fail and need to be changed or a product needs a redesign. You might even have to part ways with business partners. This is all part of the process.
Fifth, Work on yourself. Be the best version of yourself. Do personal development. Listen to motivational speakers. Surround yourself with people and friends that provide value, support and uplift you and your ideas.
Sixth - have fun. Don't take life to serious. It will be a lot of hard work but know what is important to you in life and embrace that during the difficult times. Share your knowledge with others.
And most important to remember - Successful people have balance in their life in 4 main areas. Mental, spiritual, financial and physical. Feed your mind with knowledge and protect what you think, take care of your body and stay healthy, believe in something higher than yourself to explore the possibilities of your purpose and lastly, have a healthy relationship with money (read books on this topic) and what it is really meant to do for you.
I would say good luck but there is no such thing. Just work hard for what you want my friend!
Oh yeah, be nice to your siblings and teach them everything you learn so they can spread knowledge to the next person as well.
First, ask yourself what you want to do. What business could you start, that if you didn't get paid to do it, you'd still be happy doing it?
Second, does this provide some value to humanity? Does this allow you the opportunity to help others or just make money. While you need money to survive, money alone will not make you happy.
Third, Have a plan and execute it. Think through all the possibilities, Be open to other possibilities, Value valuable input from people you trust. Don't be a know it all. Learning and growing is a lifelong journey.
Fourth, Don't be afraid to fail. Failure are the bricks that pave the way to success. Some plans fail and need to be changed or a product needs a redesign. You might even have to part ways with business partners. This is all part of the process.
Fifth, Work on yourself. Be the best version of yourself. Do personal development. Listen to motivational speakers. Surround yourself with people and friends that provide value, support and uplift you and your ideas.
Sixth - have fun. Don't take life to serious. It will be a lot of hard work but know what is important to you in life and embrace that during the difficult times. Share your knowledge with others.
And most important to remember - Successful people have balance in their life in 4 main areas. Mental, spiritual, financial and physical. Feed your mind with knowledge and protect what you think, take care of your body and stay healthy, believe in something higher than yourself to explore the possibilities of your purpose and lastly, have a healthy relationship with money (read books on this topic) and what it is really meant to do for you.
I would say good luck but there is no such thing. Just work hard for what you want my friend!
Oh yeah, be nice to your siblings and teach them everything you learn so they can spread knowledge to the next person as well.
Tom Behan
Humble retired marketing wizard
94
Answers
Seattle, Washington
Updated
Tom’s Answer
Hi Montreal, welcome to the club of future entrepreneurs! Here's a couple occasionally successful routes to that end, one you can start immediately.
1. Look at the products and services around you. What DON'T you see? What's MISSING? What's missing that could be a red hot product. Be thinking all the time...what's missing. Someone used that approach and invented the skate board, the tooth brush, the electric fan, Twinkies!!
2. Can you deliver a product or service that already exists but yours is one that is BETTER or FASTER or CHEAPER. That's how you muscle ahead in most businesses.
3. Join a larger company and look around, see what you could invent or suggest that would improve their business. If that idea works and could also be used by many other businesses then quit your job and start a company delivering that new idea. I've seen this happen a lot.
There are a lot of land mines between where you are today and becoming a gazillionaire, but drive and dedication are important. And so is one more thing. This is important and it happened to me.
If you are the owner of a start-up business and it is not going well, it is important to know when to quit. I pushed that decision out too far and when I did it was costly. There isn't a formula to know when to bail, just common sense. That's the tough part. Applying common sense when your heart is screaming stay! and your brain says, 'dude, eject!'
But I have a hunch you'll do well. Good luck Montreal.
PS. I'm 6'3" Ha! :)
1. Look at the products and services around you. What DON'T you see? What's MISSING? What's missing that could be a red hot product. Be thinking all the time...what's missing. Someone used that approach and invented the skate board, the tooth brush, the electric fan, Twinkies!!
2. Can you deliver a product or service that already exists but yours is one that is BETTER or FASTER or CHEAPER. That's how you muscle ahead in most businesses.
3. Join a larger company and look around, see what you could invent or suggest that would improve their business. If that idea works and could also be used by many other businesses then quit your job and start a company delivering that new idea. I've seen this happen a lot.
There are a lot of land mines between where you are today and becoming a gazillionaire, but drive and dedication are important. And so is one more thing. This is important and it happened to me.
If you are the owner of a start-up business and it is not going well, it is important to know when to quit. I pushed that decision out too far and when I did it was costly. There isn't a formula to know when to bail, just common sense. That's the tough part. Applying common sense when your heart is screaming stay! and your brain says, 'dude, eject!'
But I have a hunch you'll do well. Good luck Montreal.
PS. I'm 6'3" Ha! :)