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What should I do to help start my own company ?

I need advice about company start ups

career business career-path entrepreneur startup
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Praveen’s Answer

On a sheet of paper, jot down ideas for 30 days. Begin working on the idea that you believe is achievable and will assist you in launching a company you're passionate about. This will also enable you to help many people by providing job opportunities.
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Jeffrey’s Answer

Many people will tell you to simply begin by choosing a type of business you want to start - this is wrong. Your first step is to determine a service/good that people need (not just want, but actually need). You are much more likely to succeed if you're the only supplier in your market so use all of your brain power to think of something simple that isn't yet supplied. Your second step is to determine which of your business ideas are actually feasible for you to accomplish.

When determining which business idea is feasible for you to accomplish, you can consider the following:
1. Can you afford the startup costs?
2. Do you have physical space to perform the business?
3. Do you have enough time or need a partner to work with you to accomplish your business?
4. Do you have the knowledge to track your accounting in this field of business?

If you're not already rich, you'll most likely have to start with either apparel or food items. If you can find a niche in apparel or foods, they're often simple businesses that can be operated with one or two people.

And finally, find a mentor through LinkedIn who has a related business. Get used to constantly learning and pushing excellence in everything you do.
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Rekha’s Answer

If you are in the Bay area - Ycombinator.com has some excellent resources for VC Funding for tech startups.
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Dave’s Answer

Get good people around you. Find people that don't always agree with you, but have different skills that compliment yours. Healthy teams are critical, and diversity of thoughts and ideas is the foundation of a great team
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Ernesto’s Answer

I would determine first what is the needs in the area you live in, this could be discovered by relating the question to your own experiences or interviewing people. Once you establish a list of potential needs you might have solutions for I would do research on what types of regulations are required to comply with, this includes researching what state and local taxes are required to be paid.
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Oscar’s Answer

There are various forms of company ownership, with the most popular and secure option being a Limited Liability Company (LLC). This type of ownership safeguards your personal assets while conducting business. After establishing an LLC and selecting a name, consider your business goals. Do you plan to sell items on the internet? If yes, what kind of products do you have in mind? It's a good idea to identify a solution for a widespread issue and build your business around that concept.
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Terrie’s Answer

Hi Bhumika, great question. First determine the type of business you want to pursue. Make sure it's something you are passionate about and will want to continue for years to come! Second, do some research on other similar businesses and how successful they have been, and what has made them successful. Learn the challenges, the high points, and low points, and what it took for them to be successful! Acquire the essentials training for launching your own business and begin one-step at a time. Hope this helps! Best of Luck!
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Rekha’s Answer

Besides the fantastic tips mentioned earlier, there are user-friendly services such as LegalZoom that make starting an LLC incredibly easy and affordable.
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Amber’s Answer

If you've narrowed down the type of business or niche you want to work in, find people out there who've already done it and try to shadow them. Also, frequently in today's world there are courses available on how to start xyz business. The courses will likely be a fee, but that usually pays for itself after you've started your business!

Other important steps are to come up with a name, register your business with the state you live in, file for your EIN with the IRS, and build your website/other marketing tools such as business cards.

It will be important to do market research within your network and see what kind of need you can meet for others. It's also important to not be salesy when pitching yourself but to listen to your customers and find out what they need and then show them how you can solve that need.

Good luck!
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Robert’s Answer

Hello! You've asked a fantastic question. First, figure out the product or service your company will offer to customers. Then, thoroughly research the specific market your product or service belongs to. Next, determine how your product or service will stand out or add extra value compared to existing products.

After completing your research, you'll need to create an action plan:
1. Determine how to secure funding (personal loans, business loans, family loans, etc.). This is crucial for covering all startup expenses.
2. Plan how to produce your product or service. It's essential to ensure you can meet customer demands consistently. This involves understanding production time, labor requirements, material costs, and any other expenses related to developing and delivering your product or service.
3. Figure out how to network with others to support your business operations. Networking guarantees access to all the external resources necessary for maintaining your operations.

Lastly, the most critical aspect of a startup is determination and persistence. Operating a business demands a significant amount of time and dedication.
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Brooke’s Answer

Creating a services business is your fastest way to build a solo company ( freelance ) that will start making money right away. Being a virtual assistant, using websites like upwork.com to find freelance work. When I got started, I had a part time employer job, until I had enough graphic design freelance work that would pay my bills, then I went full time freelance! I then did that for several years, until I had so much work, I needed sub-contractors to help with the work needing to get done by clients I had. Then, we grew to a full marketing agency. So just know you can start small, one step at a time, being the business, then growing from there. Its possible to boot strap it and build a company without any venture capital.
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Shivani’s Answer

Over the course of a 1-3 months, write out any ideas that come to mind while trying to answer the following questions.
1. What am I passionate about?
2. What can I address in the community that needs to be addressed?
3. How can I monetize on this idea.

Some other next steps would be to create a social media handle, buy the domain, and start to design a brand strategy. I hope this helps!
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Bhumika’s Answer

First, consider the type of business you'd like to establish. Next, determine if you have the necessary funds to invest in it. Acquire the essential skills for launching a business and begin on a small scale. Avoid haste in your journey to become a successful entrepreneur. Thoroughly investigate the industry and market to gain valuable insights.
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