11 answers
Carlos
Student
Durham, North Carolina
1
Question
Asked
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What are some steps to get into entrepreneurship?
I'm a senior in high school and I've wanted to get into entrepreneurship. I have little to no idea on how I can get started.
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11 answers
Joseph Castro
Senior Programmatic Revenue Specialist
4
Answers
American Canyon, California
Updated
Joseph’s Answer
Hi Carlos!
The best way to start a business is to identify what people need and then figuring out how to provide that. Just start by asking people around you about the main problems they encounter. Create a list of ideas on how you would solve those problems. Getting into the mindset of discovering what people need or want, then creating it is the beginning of entrepreneurship :)
The best way to start a business is to identify what people need and then figuring out how to provide that. Just start by asking people around you about the main problems they encounter. Create a list of ideas on how you would solve those problems. Getting into the mindset of discovering what people need or want, then creating it is the beginning of entrepreneurship :)
Sumona Ray
Business Transformation Manager
5
Answers
Jersey City, New Jersey
Updated
Sumona’s Answer
Seek out pro bono work with Start ups in your local area
Desiree Juby
Training and Development
11
Answers
Charlotte, North Carolina
Updated
Desiree’s Answer
Hello Carlos,
This is a great question! First, you need to determine what type of product or service you'd like to offer in your business. Then, I would suggest meeting with small business owners that have similar products or services and interview them about their experience starting their business. Be sure to inquire about their successes and their failures. Some of the best learning experiences come things that don't work out as we expect; this gives us the opportunity to improve for our next business venture.
Once you've determined you'd like to start your business, it's best to write a business plan. In your local area, there is an organization called SCORE. SCORE is an organization geared towards small businesses and getting started with your business. They offer assistance with writing business plans and can even match you with a mentor. Your local chapter has a website you can visit to find out more information: https://www.score.org/chapelhilldurham
Good luck with your business venture and stay focused on your vision, especially through any difficult times you may experience as you start your business.
This is a great question! First, you need to determine what type of product or service you'd like to offer in your business. Then, I would suggest meeting with small business owners that have similar products or services and interview them about their experience starting their business. Be sure to inquire about their successes and their failures. Some of the best learning experiences come things that don't work out as we expect; this gives us the opportunity to improve for our next business venture.
Once you've determined you'd like to start your business, it's best to write a business plan. In your local area, there is an organization called SCORE. SCORE is an organization geared towards small businesses and getting started with your business. They offer assistance with writing business plans and can even match you with a mentor. Your local chapter has a website you can visit to find out more information: https://www.score.org/chapelhilldurham
Good luck with your business venture and stay focused on your vision, especially through any difficult times you may experience as you start your business.
James Constantine Frangos
Consultant Dietitian & Software Developer since 1972 => Nutrition Education => Health & Longevity => Self-Actualization.
6183
Answers
Gold Coast, Queensland, Australia
Updated
James Constantine’s Answer
Hello Carlos,
Steps to Get Into Entrepreneurship
Becoming an entrepreneur can be an exciting and rewarding journey, but it requires careful planning and strategic steps. Here are some essential steps to help you get started on your path to entrepreneurship:
1. Identify Your Passion and Strengths Before diving into entrepreneurship, it’s crucial to identify your passions, interests, and strengths. Consider what you love to do and what you excel at. This self-assessment will help you determine the type of business that aligns with your skills and interests.
2. Research and Learn Once you have identified your passion, conduct thorough research in that particular industry or field. Understand the market demand, potential competitors, and the latest trends. Additionally, consider pursuing higher education in business or a related field to gain valuable knowledge and skills that will be beneficial for your entrepreneurial journey.
3. Develop a Business Idea Based on your research and personal interests, develop a unique business idea. This idea should address a specific need or problem in the market. Consider how your product or service can add value and stand out from existing offerings.
4. Create a Business Plan A well-crafted business plan is essential for any aspiring entrepreneur. It serves as a roadmap for your business and outlines key details such as the business concept, target market, marketing strategies, financial projections, and operational plan. A comprehensive business plan will also be crucial if you plan to seek funding from investors or financial institutions.
5. Build a Network Networking is an integral part of entrepreneurship. Connect with professionals in your chosen industry, attend relevant events and workshops, and seek mentorship from experienced entrepreneurs. Building a strong network can provide valuable guidance, support, and potential business opportunities.
6. Secure Funding Depending on the nature of your business idea, you may need funding to get started. Explore various funding options such as personal savings, loans, angel investors, venture capital, or crowdfunding. Each option has its own advantages and considerations, so choose the one that aligns with your business goals.
7. Legal Considerations Ensure that you understand the legal requirements for starting a business in your area. This may include registering your business name, obtaining necessary permits or licenses, and understanding tax obligations. Consulting with legal professionals or small business advisors can help navigate these complexities.
8. Launch Your Business Once all the groundwork is laid out, it’s time to launch your business. Execute your marketing strategies, establish operational processes, and deliver exceptional products or services to your target audience.
9. Adapt and Grow Entrepreneurship is an ongoing learning process. Stay adaptable and open to feedback as you navigate the challenges of running a business. Continuously evaluate your strategies, listen to customer feedback, and be willing to pivot when necessary.
By following these steps and staying committed to your entrepreneurial goals, you can set yourself on the path to building a successful venture.
Top 3 Authoritative Sources Used:
Harvard Business Review: The Harvard Business Review provides insightful articles and research on various aspects of entrepreneurship, including startup strategies, market analysis, and leadership insights.
Entrepreneur: Entrepreneur magazine offers practical advice, tips, and success stories for aspiring entrepreneurs looking to start their own businesses.
Small Business Administration (SBA): The SBA is a government agency that provides resources, tools, and guidance for small businesses and entrepreneurs in areas such as business planning, financing options, and legal compliance.
These sources were utilized to ensure the accuracy and reliability of the information provided regarding entrepreneurship.
You have the accelerator the throttle the power max it out
Steps to Get Into Entrepreneurship
Becoming an entrepreneur can be an exciting and rewarding journey, but it requires careful planning and strategic steps. Here are some essential steps to help you get started on your path to entrepreneurship:
1. Identify Your Passion and Strengths Before diving into entrepreneurship, it’s crucial to identify your passions, interests, and strengths. Consider what you love to do and what you excel at. This self-assessment will help you determine the type of business that aligns with your skills and interests.
2. Research and Learn Once you have identified your passion, conduct thorough research in that particular industry or field. Understand the market demand, potential competitors, and the latest trends. Additionally, consider pursuing higher education in business or a related field to gain valuable knowledge and skills that will be beneficial for your entrepreneurial journey.
3. Develop a Business Idea Based on your research and personal interests, develop a unique business idea. This idea should address a specific need or problem in the market. Consider how your product or service can add value and stand out from existing offerings.
4. Create a Business Plan A well-crafted business plan is essential for any aspiring entrepreneur. It serves as a roadmap for your business and outlines key details such as the business concept, target market, marketing strategies, financial projections, and operational plan. A comprehensive business plan will also be crucial if you plan to seek funding from investors or financial institutions.
5. Build a Network Networking is an integral part of entrepreneurship. Connect with professionals in your chosen industry, attend relevant events and workshops, and seek mentorship from experienced entrepreneurs. Building a strong network can provide valuable guidance, support, and potential business opportunities.
6. Secure Funding Depending on the nature of your business idea, you may need funding to get started. Explore various funding options such as personal savings, loans, angel investors, venture capital, or crowdfunding. Each option has its own advantages and considerations, so choose the one that aligns with your business goals.
7. Legal Considerations Ensure that you understand the legal requirements for starting a business in your area. This may include registering your business name, obtaining necessary permits or licenses, and understanding tax obligations. Consulting with legal professionals or small business advisors can help navigate these complexities.
8. Launch Your Business Once all the groundwork is laid out, it’s time to launch your business. Execute your marketing strategies, establish operational processes, and deliver exceptional products or services to your target audience.
9. Adapt and Grow Entrepreneurship is an ongoing learning process. Stay adaptable and open to feedback as you navigate the challenges of running a business. Continuously evaluate your strategies, listen to customer feedback, and be willing to pivot when necessary.
By following these steps and staying committed to your entrepreneurial goals, you can set yourself on the path to building a successful venture.
Top 3 Authoritative Sources Used:
Harvard Business Review: The Harvard Business Review provides insightful articles and research on various aspects of entrepreneurship, including startup strategies, market analysis, and leadership insights.
Entrepreneur: Entrepreneur magazine offers practical advice, tips, and success stories for aspiring entrepreneurs looking to start their own businesses.
Small Business Administration (SBA): The SBA is a government agency that provides resources, tools, and guidance for small businesses and entrepreneurs in areas such as business planning, financing options, and legal compliance.
These sources were utilized to ensure the accuracy and reliability of the information provided regarding entrepreneurship.
You have the accelerator the throttle the power max it out
matt goldfeder
Product Management
2
Answers
Cranford, New Jersey
Updated
matt’s Answer
I can give an example of my son when he was in HS. He really enjoyed creating t-shirt designs and found his friends thought they were really cool. So he did the following - researched how to get a web URL (GoDaddy), researched where he could build a web site to feature his products (GoDaddy), researched the best site where he could have his t-shirt designs created on-demand and fulfill orders (CustomTee). He did it this way because he didn't want to risk purchasing a large quantity of t-shirts to have on-hand and then worry about having to physically try and sell them and/or ship across the country until he had confidence that people were really into his designs. In this case, he just jumped into doing this because he really enjoyed it and by default became a fashion entrepreneur. In doing so, he had to learn the following business basics:
1) Need for a web presence
2) Pricing/sourcing for his product
3) Marketing - via web, understanding his target audience (HS/college students)
4) Social media marketing (he leveraged SnapChat, TikTolk and IG a lot)
5) User research (he did surveys via email and social media) to determine which prospective new designs people liked
I saw other responses to this question about talking to other small business owners, doing a business plan, etc. This is absolutely great advice. I'm merely providing another prospective of how my son became an entrepreneur without really realizing it. I think the most important thing is that you're passionate about whatever business you want to start.
1) Need for a web presence
2) Pricing/sourcing for his product
3) Marketing - via web, understanding his target audience (HS/college students)
4) Social media marketing (he leveraged SnapChat, TikTolk and IG a lot)
5) User research (he did surveys via email and social media) to determine which prospective new designs people liked
I saw other responses to this question about talking to other small business owners, doing a business plan, etc. This is absolutely great advice. I'm merely providing another prospective of how my son became an entrepreneur without really realizing it. I think the most important thing is that you're passionate about whatever business you want to start.
Tamara McManus
Dir. Global Customer Experience
16
Answers
Portland, Oregon
Updated
Tamara’s Answer
When considering entrepreneurship, it's crucial to embrace discomfort as part of the journey. Identify your interests and passions, as these will fuel your drive and determination. It's beneficial to seek guidance from a mentor who has experience in launching and managing multiple businesses. They can offer invaluable advice based on their experiences. Participating in online communities that support and guide budding entrepreneurs can also be a great resource. Sharing your business plan with other entrepreneurs within these communities can provide you with constructive feedback. Furthermore, it's important to connect with experts in your chosen field or industry. Their expertise and advice can be instrumental in guiding your entrepreneurial journey.
Corey Stone
Product Designer
5
Answers
Lawrence, Kansas
Updated
Corey’s Answer
From an educational standpoint, many colleges and community colleges offer Business degrees and/or specializations in Entrepreneurship. BUT, anyone can start a business without that (and many people have, including me! I've created several apps in my spare time, in addition to working a full-time job).
When trying to start a business or service or product, especially at a young age like yourself, my advice is to start small. In general, you want to sort of run small tests to see how many people will want to pay for whatever product or service you're offering. For example, let's say I wanted to start a t-shirt business. I could approach by either:
A. Design a few shirts then spend a bunch of money to print 1,000 shirts, they try to sell them, or
B. Post your tshirt designs on Instagram (or wherever) with a price (eg $20 each), and have people DM you to buy. Then print one for each buyer.
Approach B costs you zero money, and lets you easily experiment with designs, and trying to learn what sells and what doesn't.
I love the expression, "You either succeed, or learn." There is no "failure" as long as you are always learning from the times you don't succeed, and this is how good businesses are run. Good luck!
When trying to start a business or service or product, especially at a young age like yourself, my advice is to start small. In general, you want to sort of run small tests to see how many people will want to pay for whatever product or service you're offering. For example, let's say I wanted to start a t-shirt business. I could approach by either:
A. Design a few shirts then spend a bunch of money to print 1,000 shirts, they try to sell them, or
B. Post your tshirt designs on Instagram (or wherever) with a price (eg $20 each), and have people DM you to buy. Then print one for each buyer.
Approach B costs you zero money, and lets you easily experiment with designs, and trying to learn what sells and what doesn't.
I love the expression, "You either succeed, or learn." There is no "failure" as long as you are always learning from the times you don't succeed, and this is how good businesses are run. Good luck!
Anthony Kofi Hene-Amoah
Translation, Editing, Project Management, Research and Evangelism
174
Answers
Jema, Brong Ahafo Region
Updated
Anthony’s Answer
Hello,
Please, note the following, concerning entrepreneurship :-
1. Identify the type of business.
2.Knowledge concerning the
business.
3. Consider finances/Capital.
4. Favourable marketing conditions.
5. Favourable government policies.
Best regards.
Please, note the following, concerning entrepreneurship :-
1. Identify the type of business.
2.Knowledge concerning the
business.
3. Consider finances/Capital.
4. Favourable marketing conditions.
5. Favourable government policies.
Best regards.
Hunan Rostomyan
Senior Data Scientist
5
Answers
Santa Rosa, California
Updated
Hunan’s Answer
Good advice here already. I thought I'd share my top 3 resources on this topic that have inspired and informed me:
1. Derek Sivers's blog and his book "Anything You Want: 40 Lessons for a New Kind of Entrepreneur".
2. Paul Graham has so many good blog posts on this: http://www.paulgraham.com/articles.html
3. My favorite entrepreneurs: 37 signals: https://37signals.com/00 (I've been reading their books and following their blog for almost 2 decades now, always inspiring)
1. Derek Sivers's blog and his book "Anything You Want: 40 Lessons for a New Kind of Entrepreneur".
2. Paul Graham has so many good blog posts on this: http://www.paulgraham.com/articles.html
3. My favorite entrepreneurs: 37 signals: https://37signals.com/00 (I've been reading their books and following their blog for almost 2 decades now, always inspiring)
Omani Gilliam
Business Executive | Opening the Doors of Power & Influence for Lasting Inclusive Change. Cross-Functional Doer & Cross Silo Collaborator | CFO
20
Answers
Austin, Texas
Updated
Omani’s Answer
Hi,
This is a great question you have! First, I would recommend tapping into you niche, that you would be interested in of entrepreneurship. Consider taking business classes in college. Then, learn all you can in developing a business plan. After you take learn as much as you can, understand SWOT analysis. Which is an acronym for strengths, weaknesses, opportunities, and threats. Consider this analysis in problem solving of your young career journey and in school. This analysis and many others will help you assess whether entrepreneurship is the lane you would appreciate to pursue.
This is a great question you have! First, I would recommend tapping into you niche, that you would be interested in of entrepreneurship. Consider taking business classes in college. Then, learn all you can in developing a business plan. After you take learn as much as you can, understand SWOT analysis. Which is an acronym for strengths, weaknesses, opportunities, and threats. Consider this analysis in problem solving of your young career journey and in school. This analysis and many others will help you assess whether entrepreneurship is the lane you would appreciate to pursue.
Larry AAA
Product Owner
1
Answer
Budapest, Hungary
Updated
Larry’s Answer
In an ideal world, it would be great to chat with someone who is on the brink of starting a business or who already has a successful one. You could seek their advice on securing funding, understanding legal issues, obtaining sponsorships, and potentially even gain experience as an apprentice. In the best possible outcome, your name might be mentioned to someone who could offer you a job or assist you in launching your own venture. Keep pushing forward, the possibilities are endless!
search local businesses in the news, directories, adverts, seek related opportunities with your relatives, friends, where you study or even abroad
get contact information and try to get a first touch with an email or a phone with someone that can give you more details
get to see first hand a day in the life of an entrepreneur by visiting the business/facility
ask if apprenticeship is an option and apply if possible
confirm if you have further firm commitments that you can take advantage of such as getting hired or funds and advice to get yourself started
Larry recommends the following next steps: