3 answers
1
Question
3 answers
Updated
Nik’s Answer
Hi Zamari, it's great that you are thinking about a business. Here are some suggestions:
- As you are under 18, you will need a parent or guardian to sign off on any legal documents related to your business (especially what structure it will be). You may also need licenses, permits etc.
- Think about what you are passionate about, what are you good at and most importantly, what problem is your business going to solve for people. If you can think of something that covers all 3 aspects, you will be well on your way.
- Do some market research. This is very important. Has someone else done something similar that you can learn from? Maybe ask or test your idea (product/service) to see the feedback.
- It will be helpful to write a business plan.
- Learn about social media marketing and how you can get word of your business out to the world.
- Start small and keep learning all the way.
- Don't be afraid to fail. This is very important. Failing is Learning.
- Remember, starting a business takes time and effort. But if you are passionate about your idea and you are willing to work hard, you will be successful.
- As you are under 18, you will need a parent or guardian to sign off on any legal documents related to your business (especially what structure it will be). You may also need licenses, permits etc.
- Think about what you are passionate about, what are you good at and most importantly, what problem is your business going to solve for people. If you can think of something that covers all 3 aspects, you will be well on your way.
- Do some market research. This is very important. Has someone else done something similar that you can learn from? Maybe ask or test your idea (product/service) to see the feedback.
- It will be helpful to write a business plan.
- Learn about social media marketing and how you can get word of your business out to the world.
- Start small and keep learning all the way.
- Don't be afraid to fail. This is very important. Failing is Learning.
- Remember, starting a business takes time and effort. But if you are passionate about your idea and you are willing to work hard, you will be successful.
Katherine Avery
Run a music studio and teach private music lessons; teach college-level religion classes
350
Answers
Updated
Katherine’s Answer
Two resources that might help you are this workbook (https://www.churchofjesuschrist.org/bc/content/ldsorg/topics/self-reliance/2017/14678_sgmb_book_eng.pdf?lang=eng) and the book From Paycheck to Purpose by Ken Coleman. They could help you figure out what you want to do now, and what you want to plan to do in the next few years.
Updated
Fred’s Answer
1) Decide what your business will be.
2) Start doing it.
That's all there is to it, really. You can commit to it to varying degrees. Maybe research how to write a business plan. Maybe put together a website. Maybe research competitors, and figure out what your competitive advantage is/will be. If you get serious, you would want to apply for a business license, register any trademarks, and register as a corporation to protect your assets (and since you are a minor, your parent's assets as well).
Basically, you want to provide goods or services that there is a demand for, and make yours better than anyone else's. You can compete on cost (this is generally called the 'race to the bottom'), quality, brand, or something else, but you have to make YOURS distinct somehow. If people have a choice between two or more providers, you want them to choose yours.
2) Start doing it.
That's all there is to it, really. You can commit to it to varying degrees. Maybe research how to write a business plan. Maybe put together a website. Maybe research competitors, and figure out what your competitive advantage is/will be. If you get serious, you would want to apply for a business license, register any trademarks, and register as a corporation to protect your assets (and since you are a minor, your parent's assets as well).
Basically, you want to provide goods or services that there is a demand for, and make yours better than anyone else's. You can compete on cost (this is generally called the 'race to the bottom'), quality, brand, or something else, but you have to make YOURS distinct somehow. If people have a choice between two or more providers, you want them to choose yours.