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what do u need to be a business owner ?
I want to finish high school and go to college. I am asking this question because i want to own my own business of apartments in the future. #company-culture
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Mark’s Answer
While there is no "official" listing of what you need to start a business there are certainly elements that will be very important to get things started:
- Make a decision on what specific industry you want your business to be in
- Assess the risks and opportunities in that industry by researching and speaking to others in the industry
- Build a business plan with timelines and milestones on how you will run the business and gain advice/counsel on the plan from others
- Decide who your target customer base will be and how you will market to them and attract them
- Leverage tools that are available to help you start a business (Legal Zoom, Yahoo Business Maker, etc.)
- Gain the financial backing/support necessary to start which might require a loan
- Decide if you will go into business yourself, with partners, with employees, etc. and then the type of business (Ex: LLC or Sole Prop)
- Understand the competition in the industry you choose and decide how you will differentiate yourself for your customers
- Create a mission statement / vision to guide your business decisions
- Be bold and be aggressive
This is just an initial list of things to consider and think about when opening a business, and will take you down many roads. It is important to stay focused and stay on track. My biggest piece of advice here is that "people buy from people" so make sure you take excellent care of your customers and create best in class memorable experiences.
Best of luck to you!
- Make a decision on what specific industry you want your business to be in
- Assess the risks and opportunities in that industry by researching and speaking to others in the industry
- Build a business plan with timelines and milestones on how you will run the business and gain advice/counsel on the plan from others
- Decide who your target customer base will be and how you will market to them and attract them
- Leverage tools that are available to help you start a business (Legal Zoom, Yahoo Business Maker, etc.)
- Gain the financial backing/support necessary to start which might require a loan
- Decide if you will go into business yourself, with partners, with employees, etc. and then the type of business (Ex: LLC or Sole Prop)
- Understand the competition in the industry you choose and decide how you will differentiate yourself for your customers
- Create a mission statement / vision to guide your business decisions
- Be bold and be aggressive
This is just an initial list of things to consider and think about when opening a business, and will take you down many roads. It is important to stay focused and stay on track. My biggest piece of advice here is that "people buy from people" so make sure you take excellent care of your customers and create best in class memorable experiences.
Best of luck to you!
Updated
Shonda’s Answer
Technically, you don't need a degree to own your own business, but I would at least attend the community college to get a better understanding of the money management side of entrepreneurship, the start up cost, securing investors, zones/codes, etc.