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What Is a best way to start a business?

I Want to start being an entrepreneur but I dont know where to start

business entrepreneur
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Daniel’s Answer

Hi Abrahim!

I would suggest the below 3 steps to help you start your own business.

1. You need to register your business with the Secretary of State (SOS). Most businesses register in the state where the business is actually located (HQ Address). At the same time you will need to decide the entity type for your business such as a LLC, Inc, LTD. Make sure you register with a state so your business can operate legally.

2. Come up with a business plan. This would include items such as operations, location, capital/funding, vision/mission statement etc. You can easily get lost in the weeds on this part. Don't get caught up in details that you can figure out later. Think big picture and ask yourself what is your business really trying to accomplish? That is always a good starting point on a business plan!

3. Lastly, come up with different business goals and set dates when you want to accomplish them. Setting a timeline will help you stay on track and know where you are in the process. It is very difficult but don't let yourself get caught up in the whirlwind of the "day to day." Meaning, set yourself and the business up with clear goals and do your best to not let the "daily fires" use up all your time. Inadvertently, you will have to attend to some of these daily fires but make sure you block off time to keep the vison of the company alive.

Out of the many business books I have read, if I could only suggest two business books to you, it would be the books below. Hope these thoughts help and good luck on the journey!

Daniel recommends the following next steps:

Read Dream Big by Bob Goff
Read the The 4 Disciplines of Execution: Achieving Your Wildly Important Goals by Chris McChesney, Sean Covey, and Jim Huling
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Anthony’s Answer

Hello,
Please, note the following on how to start a business :-
1. Have the type of business in
mind
2. Consider the extent of interest and knowledge you have, in the business.
3. Availability of favourable marketing conditions.
4. Favourable government policies.
5. Required finances/capital.

Best regards.
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Carmen’s Answer

Embarking on a business journey can be a thrilling yet intimidating experience! However, with a robust network of individuals in your desired field, ongoing learning, and a sunny disposition, you're already on the path to success! The significance of aligning yourself with people who are where you aspire to be cannot be overstated. Have you ever heard the saying, "Birds of a feather flock together"? Choose to mingle with those you admire. This gives you the opportunity to learn from their hurdles, tribulations, and victories. Furthermore, strive to expand your knowledge as much as possible in the field you wish to conquer. Depending on the nature of the business, it might take some time to firmly establish your roots. Therefore, I recommend gaining experience by working for someone else until you're confident in independently managing your own business. As your enterprise flourishes, you can gradually reduce your commitments elsewhere.
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Yanna’s Answer

Discover what truly excites you, then evaluate the market's supply and demand for the product or service you intend to offer. Conduct a SWOT analysis to understand your strengths, weaknesses, opportunities, and threats. Gather necessary funds and devise a strategic marketing plan. It's often beneficial to team up with a partner when starting a business. Don't forget to harness the power of technology to help grow your enterprise.
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Nada’s Answer

Hi Abrahim,

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!
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