3 answers
Joshua
Student
Miami Gardens, Florida
13
Questions
Asked
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What advice do you have for a young entrepreneur?
#entrepreneur #buisness #entrepreneurship
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3 answers
Doc Frick
Career Coach and Mentor
1591
Answers
California, CA
Updated
Doc’s Answer
Joshua starting a business is an exciting prospect. Each year millions of people venture into the world of entrepreneurship and start their own companies. If you're ready to be your own boss, there are several steps you need to take to launch your company. It all starts with a good idea. What are you going to offer that will have value, create demand, and attract customers? This is one of the most vital steps for your success. Whether it's a product or service you plan to offer, you need to take time to ensure you will have enough business.
Next, make a business plan. There are many programs that will help you walk through the steps of creating a business plan. By going through these steps, you have a chance to think through the details of how your business will be organized. For example, will it be a sole-proprietorship, partnership, LLC, or corporation? Additionally, a business plan will help you consider how you'll finance your company and manage operations. Regardless of if you're the only employee or if you'll hire some help, you'll need professionals to help you get your business off the ground. If you need help with legal forms, find a good attorney to help you get started. If you have no accounting experience, find a bookkeeper to help organize your books. Be honest about areas where you need help and find qualified people to help you in those aspects.
Do your homework to see if there's a need for your product or service, if there's demand, and if you'll be able to create a solid business. There are many factors that determine if you have a good idea, including competition, uniqueness of the idea, geographic area, and target market, among others. Creating a demand for your product or service is critical to your success, tell everyone you know about your business. Network with potential customers, market to possible clients, and spread the word about your company. Ask for referrals and request that people tell their friends and family about your new business.
The sky is the limit Joshua
Next, make a business plan. There are many programs that will help you walk through the steps of creating a business plan. By going through these steps, you have a chance to think through the details of how your business will be organized. For example, will it be a sole-proprietorship, partnership, LLC, or corporation? Additionally, a business plan will help you consider how you'll finance your company and manage operations. Regardless of if you're the only employee or if you'll hire some help, you'll need professionals to help you get your business off the ground. If you need help with legal forms, find a good attorney to help you get started. If you have no accounting experience, find a bookkeeper to help organize your books. Be honest about areas where you need help and find qualified people to help you in those aspects.
Do your homework to see if there's a need for your product or service, if there's demand, and if you'll be able to create a solid business. There are many factors that determine if you have a good idea, including competition, uniqueness of the idea, geographic area, and target market, among others. Creating a demand for your product or service is critical to your success, tell everyone you know about your business. Network with potential customers, market to possible clients, and spread the word about your company. Ask for referrals and request that people tell their friends and family about your new business.
The sky is the limit Joshua
Kevin Blainey
Sales
4
Answers
Burlington, Ontario, Canada
Updated
Kevin’s Answer
Joshua, start small, my son recently started a window cleaning business, he built is personal brand door to door. With good service people spread the word, and the build trust in you. From their you can branch out into complimentary services like lawn mowing, weeding the gardens. Grow your business hire a few employees at first. Train them, focus on good customer service. Pretty soon you will have more work that you will know what to do with. Best of luck.
Rebecca Tang
Banking
1817
Answers
Hong Kong
Updated
Rebecca’s Answer
I am delighted that you have decided to be an entrepreneur. You will a lot of fun but it is also challenging.
Firstly, I would suggest you do more research and analysis on the industry that you would like to start your business. You can study the relevant subjects in the college and work in the industry on part time basis or a few years in full time after your graduation.
Also, you may need to analyze the industry on a number of aspects, e.g. how 's the competition, is there any entry barrier into the industry, any substitute of the product, etc.
You may also consider where you would start, e.g. online or physical, etc. I would suggest you can consider online first since the startup cost is lower.
Hope this helps! Good Luck!
Firstly, I would suggest you do more research and analysis on the industry that you would like to start your business. You can study the relevant subjects in the college and work in the industry on part time basis or a few years in full time after your graduation.
Also, you may need to analyze the industry on a number of aspects, e.g. how 's the competition, is there any entry barrier into the industry, any substitute of the product, etc.
You may also consider where you would start, e.g. online or physical, etc. I would suggest you can consider online first since the startup cost is lower.
Hope this helps! Good Luck!