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what are some good ways to start a business ?
#business #entrepreneur #nailtech
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Nada’s Answer
Hi Jayla,
It's awesome that you're diving into the world of entrepreneurship right out of school! Starting a business requires a mix of passion, grit, and the right tools.
Here's a breakdown of the essentials to get you started:
1. The Idea Toolkit:
* Problem-solving lens: The best businesses solve problems. Look around – what frustrates people? What needs improvement? Your idea should offer a solution or fill a gap.
* Idea validation: Don't just assume your idea is great. Talk to potential customers. Get feedback. Would they actually pay for what you're offering?
* Niche focus: It's tempting to try to be everything to everyone, but starting with a specific niche helps you target your marketing and stand out.
2. Planning :
* Lean Business Plan: No need for a 100-page document, but outline your goals, target market, how you'll make money, and your marketing strategy.
* Market Research: Who are your competitors? What are their prices? How can you differentiate yourself? Knowledge is power!
* Legal and Financial Foundation: Choose a business structure (sole proprietorship, LLC, etc.), get necessary licenses, and understand basic accounting.
3. The Digital Toolbox:
* Website or Online Platform: This is your virtual storefront. Make it user-friendly, whether it's your own website or an Etsy shop.
* Social Media Presence: Where does your target audience hang out online? Focus your efforts on those platforms.
* Content Creation Tools: You'll need ways to create engaging content – Canva for visuals, video editing software, or even just a good phone camera.
4. Customer Connection:
* Email Marketing: Build an email list and use it to connect with potential and current customers (Mailchimp, ConvertKit are popular options).
* Customer Relationship Management (CRM): A system to keep track of customer interactions and build relationships (HubSpot, Zoho are examples).
* Excellent Communication: Respond to inquiries promptly, be helpful, and build trust with your audience.
5. The Growth Accelerator:
* Analytics and Tracking: Use tools like Google Analytics to understand how people find your business and what they do on your website.
* Networking and Collaboration: Connect with other entrepreneurs, potential mentors, and industry professionals.
* Continuous Learning: The business world is always evolving. Stay updated on trends, learn new skills, and adapt.
Resources for Young Entrepreneurs:
* Small business development centers (SBDCs): Free or low-cost counseling and training.
* SCORE: Free mentoring and resources from experienced business professionals.
* Online business courses: Platforms like Coursera, Udemy, and Skillshare offer a wealth of knowledge.
Starting a business is a marathon, not a sprint. Be patient, persistent, and passionate about what you're doing. Good luck!
It's awesome that you're diving into the world of entrepreneurship right out of school! Starting a business requires a mix of passion, grit, and the right tools.
Here's a breakdown of the essentials to get you started:
1. The Idea Toolkit:
* Problem-solving lens: The best businesses solve problems. Look around – what frustrates people? What needs improvement? Your idea should offer a solution or fill a gap.
* Idea validation: Don't just assume your idea is great. Talk to potential customers. Get feedback. Would they actually pay for what you're offering?
* Niche focus: It's tempting to try to be everything to everyone, but starting with a specific niche helps you target your marketing and stand out.
2. Planning :
* Lean Business Plan: No need for a 100-page document, but outline your goals, target market, how you'll make money, and your marketing strategy.
* Market Research: Who are your competitors? What are their prices? How can you differentiate yourself? Knowledge is power!
* Legal and Financial Foundation: Choose a business structure (sole proprietorship, LLC, etc.), get necessary licenses, and understand basic accounting.
3. The Digital Toolbox:
* Website or Online Platform: This is your virtual storefront. Make it user-friendly, whether it's your own website or an Etsy shop.
* Social Media Presence: Where does your target audience hang out online? Focus your efforts on those platforms.
* Content Creation Tools: You'll need ways to create engaging content – Canva for visuals, video editing software, or even just a good phone camera.
4. Customer Connection:
* Email Marketing: Build an email list and use it to connect with potential and current customers (Mailchimp, ConvertKit are popular options).
* Customer Relationship Management (CRM): A system to keep track of customer interactions and build relationships (HubSpot, Zoho are examples).
* Excellent Communication: Respond to inquiries promptly, be helpful, and build trust with your audience.
5. The Growth Accelerator:
* Analytics and Tracking: Use tools like Google Analytics to understand how people find your business and what they do on your website.
* Networking and Collaboration: Connect with other entrepreneurs, potential mentors, and industry professionals.
* Continuous Learning: The business world is always evolving. Stay updated on trends, learn new skills, and adapt.
Resources for Young Entrepreneurs:
* Small business development centers (SBDCs): Free or low-cost counseling and training.
* SCORE: Free mentoring and resources from experienced business professionals.
* Online business courses: Platforms like Coursera, Udemy, and Skillshare offer a wealth of knowledge.
Starting a business is a marathon, not a sprint. Be patient, persistent, and passionate about what you're doing. Good luck!
Updated
Michele’s Answer
Hi Jayla.
Good for you for having an entrepreneurial curiosity! You are doing one of the most important first steps by just asking how and doing your research. There are several things you should consider - three of these are what your business will be, where it will be able to thrive, and what is needed to get it rolling.
What will your business be? It needs to be something you know how to do well and like doing. Something where you have the skills and expertise. It may require schooling or certification to learn the occupation or the trade. To be an owner and offer a business service to someone else, you will also need to be willing to dedicate a lot of time to doing this work. Until your business is up and thriving, which can take a long time, you have to be willing to put in the hours and the good old fashioned elbow grease to get the work done in addition to managing the business aspect of it. Make sure you have a passion for your chosen field as well as an expert level of knowledge.
Where will it thrive? Once you know what you want to do, it's important to understand where you can do it successfully. As an example, if you want to open a dry cleaning service, you have to fill a need for the service. If there are 2 other dry cleaners in your neighborhood, you may have to go to another area where they don't have as much access to dry cleaning services in order to fill a need. In addition to finding a community where the service is needed, you have to consider where you can go to grow that business over time.
What do you need to get it rolling? After you have a business concept and a target market, you will need financial support. The best way to get financial support is to have a good solid business plan that allows you to secure a loan or other financing support, like an investor. The strength of your business plan will help determine what financial support is available to you. There may even be grant money available.
A good way to work through all of these things is to partner with your local Small Business Administration or a Small Business Incubator. These are organizations that are designed to help new business ventures get started - working through business plans, helping identify target markets, etc. and may even be aware of areas that cater to building new business. there is also a lot of research that you can do on-line about how to start up a business.
Find your passion first, then follow your dreams. You can do anything you set your mind to do! Good luck.
Good for you for having an entrepreneurial curiosity! You are doing one of the most important first steps by just asking how and doing your research. There are several things you should consider - three of these are what your business will be, where it will be able to thrive, and what is needed to get it rolling.
What will your business be? It needs to be something you know how to do well and like doing. Something where you have the skills and expertise. It may require schooling or certification to learn the occupation or the trade. To be an owner and offer a business service to someone else, you will also need to be willing to dedicate a lot of time to doing this work. Until your business is up and thriving, which can take a long time, you have to be willing to put in the hours and the good old fashioned elbow grease to get the work done in addition to managing the business aspect of it. Make sure you have a passion for your chosen field as well as an expert level of knowledge.
Where will it thrive? Once you know what you want to do, it's important to understand where you can do it successfully. As an example, if you want to open a dry cleaning service, you have to fill a need for the service. If there are 2 other dry cleaners in your neighborhood, you may have to go to another area where they don't have as much access to dry cleaning services in order to fill a need. In addition to finding a community where the service is needed, you have to consider where you can go to grow that business over time.
What do you need to get it rolling? After you have a business concept and a target market, you will need financial support. The best way to get financial support is to have a good solid business plan that allows you to secure a loan or other financing support, like an investor. The strength of your business plan will help determine what financial support is available to you. There may even be grant money available.
A good way to work through all of these things is to partner with your local Small Business Administration or a Small Business Incubator. These are organizations that are designed to help new business ventures get started - working through business plans, helping identify target markets, etc. and may even be aware of areas that cater to building new business. there is also a lot of research that you can do on-line about how to start up a business.
Find your passion first, then follow your dreams. You can do anything you set your mind to do! Good luck.
Updated
Eriyaana’s Answer
One of the most important steps in starting a business is creating a business plan. A business plan is a tedious task but very helpful for creating what your business is in terms of products/services, financials, etc.
Updated
Pro’s Answer
Networking is very important for finding customers/clients who will be interested in what you have to offer. Find groups/associations related to your products or services and hand out business cards!
Updated
Don’s Answer
I suggest working in the field that is of interest to you for a few years and learn as much as you can before starting out on your own. Get to know the suppliers, customers, how to go to market, etc. That will give you a good base to start from.