4 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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4 answers
Doc Frick
Career Coach and Mentor
1616
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
1860
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!
Nada L
IT Software
100
Answers
Sydney, New South Wales, Australia
Updated
Nada’s Answer
Hello Joshua!
It's exciting you're considering the entrepreneurial path right out of school! It takes courage, creativity, and a whole lot of hustle, but the rewards can be immense.
Here's some guidance to help you on your journey:
1. Nurture the Entrepreneurial Mindset:
* Embrace Curiosity: Always be learning, questioning, and exploring new ideas. The world is full of opportunities for those who are curious.
* Become a Problem Solver: Entrepreneurship is about finding solutions to problems. Train your mind to identify needs and think creatively about how to address them.
* Cultivate Resilience: Setbacks are inevitable. Develop the grit and determination to bounce back from challenges and keep moving forward.
* Embrace Risk (Smartly): Calculated risks are part of the game. Learn to assess potential downsides and make informed decisions.
* Build a Strong Network: Connect with other entrepreneurs, mentors, and potential collaborators. Surround yourself with people who inspire and support you.
2. Essential Skills to Develop:
* Sales and Marketing: Learn how to effectively promote your ideas and persuade people to believe in your vision.
* Financial Literacy: Understand basic accounting, cash flow management, and how to make smart financial decisions.
* Communication Skills: Master the art of clear and persuasive communication, both written and verbal.
* Time Management: Learn to prioritize tasks, manage your time effectively, and stay organized.
* Leadership: Even if you're starting solo, develop leadership skills to inspire and motivate yourself and others in the future.
3. Taking the First Steps:
* Identify Your Passion: What are you truly passionate about? What problems do you want to solve? Your business should align with your interests and values.
* Validate Your Idea: Don't assume your idea is great just because you like it. Talk to potential customers, get feedback, and refine your concept.
* Start Small, Think Big: You don't need a world-changing idea right away. Focus on solving a specific problem for a specific group of people.
* Create a Simple Business Plan: Outline your goals, target market, revenue model, and marketing strategy. It doesn't have to be a formal document, but it helps to have a roadmap.
4. Resources for Young Entrepreneurs:
* Mentorship Programs: Seek guidance from experienced entrepreneurs who can offer advice and support.
* Small Business Development Centers (SBDCs): These centers offer free or low-cost counseling, training, and resources for small business owners.
* SCORE: This nonprofit organization provides free mentoring and resources to entrepreneurs.
* Online Courses and Communities: Platforms like Coursera, Udemy, and Skillshare offer a wealth of knowledge on entrepreneurship.
Important Reminders:
* Continuous Learning: The business world is constantly evolving. Stay curious, keep learning, and adapt to new trends and technologies.
* Embrace Failure as a Learning Opportunity: Not every venture will be successful. Learn from your mistakes, adapt, and keep trying.
* Believe in Yourself: Entrepreneurship is a journey with ups and downs. Believe in your abilities, stay persistent, and never give up on your dreams.
Starting your entrepreneurial journey right out of school is a bold and exciting move. With passion, dedication, and the right mindset, you can achieve great things. Good luck!
It's exciting you're considering the entrepreneurial path right out of school! It takes courage, creativity, and a whole lot of hustle, but the rewards can be immense.
Here's some guidance to help you on your journey:
1. Nurture the Entrepreneurial Mindset:
* Embrace Curiosity: Always be learning, questioning, and exploring new ideas. The world is full of opportunities for those who are curious.
* Become a Problem Solver: Entrepreneurship is about finding solutions to problems. Train your mind to identify needs and think creatively about how to address them.
* Cultivate Resilience: Setbacks are inevitable. Develop the grit and determination to bounce back from challenges and keep moving forward.
* Embrace Risk (Smartly): Calculated risks are part of the game. Learn to assess potential downsides and make informed decisions.
* Build a Strong Network: Connect with other entrepreneurs, mentors, and potential collaborators. Surround yourself with people who inspire and support you.
2. Essential Skills to Develop:
* Sales and Marketing: Learn how to effectively promote your ideas and persuade people to believe in your vision.
* Financial Literacy: Understand basic accounting, cash flow management, and how to make smart financial decisions.
* Communication Skills: Master the art of clear and persuasive communication, both written and verbal.
* Time Management: Learn to prioritize tasks, manage your time effectively, and stay organized.
* Leadership: Even if you're starting solo, develop leadership skills to inspire and motivate yourself and others in the future.
3. Taking the First Steps:
* Identify Your Passion: What are you truly passionate about? What problems do you want to solve? Your business should align with your interests and values.
* Validate Your Idea: Don't assume your idea is great just because you like it. Talk to potential customers, get feedback, and refine your concept.
* Start Small, Think Big: You don't need a world-changing idea right away. Focus on solving a specific problem for a specific group of people.
* Create a Simple Business Plan: Outline your goals, target market, revenue model, and marketing strategy. It doesn't have to be a formal document, but it helps to have a roadmap.
4. Resources for Young Entrepreneurs:
* Mentorship Programs: Seek guidance from experienced entrepreneurs who can offer advice and support.
* Small Business Development Centers (SBDCs): These centers offer free or low-cost counseling, training, and resources for small business owners.
* SCORE: This nonprofit organization provides free mentoring and resources to entrepreneurs.
* Online Courses and Communities: Platforms like Coursera, Udemy, and Skillshare offer a wealth of knowledge on entrepreneurship.
Important Reminders:
* Continuous Learning: The business world is constantly evolving. Stay curious, keep learning, and adapt to new trends and technologies.
* Embrace Failure as a Learning Opportunity: Not every venture will be successful. Learn from your mistakes, adapt, and keep trying.
* Believe in Yourself: Entrepreneurship is a journey with ups and downs. Believe in your abilities, stay persistent, and never give up on your dreams.
Starting your entrepreneurial journey right out of school is a bold and exciting move. With passion, dedication, and the right mindset, you can achieve great things. Good luck!