5 answers
Gia
Student
Miamisburg, Ohio
1
Question
Updated
758 views
What is some advice to start a business?
I’m starting a business with Lela give me advice.
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5 answers
Nada L
IT Software
100
Answers
Sydney, New South Wales, Australia
Updated
Nada’s Answer
Hi Gia,
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!
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!
Akerke Izetay
36
Answers
Almaty, Almaty Province, Kazakhstan
Updated
Akerke’s Answer
Hi Gia🤗
How to start your own business appears to every person from time to time, but only a few of them are translated into reality. Even fewer become successful. The natural question becomes: what is the secret of success?
Apparently, there are a number of principles, the observance of which makes the likelihood of building a profitable business much higher than in other cases. They can be expressed in a number of principles that all aspiring entrepreneurs should pay attention to.
Just do it. Even with a great idea, combined with a good understanding of the subject and a love for what they do, many people never start their own business. Or they abandon what they started halfway.
Often the reason is excessive slowness, fear of leaving a familiar and stable job, and simply the desire to get a good night's sleep. If you have a great idea that you think will work, take the plunge and take the plunge.
Yes, it can be difficult to make a decision, and even more difficult to stick to it during difficult times. But it's worth it.
Don't be afraid of partnerships. One of the common stereotypes about entrepreneurship is that the business owner is a “lone wolf” who copes with all problems on his own.
This is wrong. You can't be an expert in everything, and sometimes it's having a co-founder, like a friend you've known for a long time, that makes a business as viable as possible. If your partner is as interested in the common cause as you are, he can make a significant contribution to achieving common goals.
Focus, it gets results. This seems obvious, but sometimes it's easier said than done. You will be tempted to try a dozen new directions at once, but to be successful, you need to concentrate on one thing. It's impossible to make and sell handbags and car tires equally well. The main reason why people give up is because they tend to look at how far they have to go instead of looking at where they are along the way. Namely, a series of small wins can ultimately lead to big successes.
Learn to set goals and develop plans to achieve them. Focus on your chosen direction and learn to clearly formulate your priorities for the day, month and year ahead.
Do what you know. And know what you are doing. You shouldn’t start any business just because it promises profit; you need to do what you personally like. Otherwise, the very first difficulties and collapse of illusions will have dire consequences.
A business built around your strengths and abilities will have a greater chance of success. It is important not only to create a profitable business, but also to be happy in the process of running it and enjoy its growth day by day.
Control your expenses. Even if there are a lot of them at the start, if you mismanage the funds, very soon there will be a shortage of them. So forget about luxurious offices, a new car and other expenses that burn money. Your wallet is the life and blood of your company.
Don't be afraid to make mistakes. It is rightly said that only those who do nothing make no mistakes. You will never know what the result of your efforts will be until you do what you planned. And it’s usually scary only at the very beginning.
Excuses are much easier to find than motivation to act. But, as experience shows, people usually regret lost opportunities, not mistakes made. Moreover, the willingness to take risks is a necessary trait for an entrepreneur.
Learn to manage time. The skill of time management is invaluable for a person living in the fast pace of modern life. Time is perhaps the only limited resource, the volume of which is the same for each person. Everyone only has 24 hours a day, and the success of your business depends on how you manage them.
How to start your own business appears to every person from time to time, but only a few of them are translated into reality. Even fewer become successful. The natural question becomes: what is the secret of success?
Apparently, there are a number of principles, the observance of which makes the likelihood of building a profitable business much higher than in other cases. They can be expressed in a number of principles that all aspiring entrepreneurs should pay attention to.
Just do it. Even with a great idea, combined with a good understanding of the subject and a love for what they do, many people never start their own business. Or they abandon what they started halfway.
Often the reason is excessive slowness, fear of leaving a familiar and stable job, and simply the desire to get a good night's sleep. If you have a great idea that you think will work, take the plunge and take the plunge.
Yes, it can be difficult to make a decision, and even more difficult to stick to it during difficult times. But it's worth it.
Don't be afraid of partnerships. One of the common stereotypes about entrepreneurship is that the business owner is a “lone wolf” who copes with all problems on his own.
This is wrong. You can't be an expert in everything, and sometimes it's having a co-founder, like a friend you've known for a long time, that makes a business as viable as possible. If your partner is as interested in the common cause as you are, he can make a significant contribution to achieving common goals.
Focus, it gets results. This seems obvious, but sometimes it's easier said than done. You will be tempted to try a dozen new directions at once, but to be successful, you need to concentrate on one thing. It's impossible to make and sell handbags and car tires equally well. The main reason why people give up is because they tend to look at how far they have to go instead of looking at where they are along the way. Namely, a series of small wins can ultimately lead to big successes.
Learn to set goals and develop plans to achieve them. Focus on your chosen direction and learn to clearly formulate your priorities for the day, month and year ahead.
Do what you know. And know what you are doing. You shouldn’t start any business just because it promises profit; you need to do what you personally like. Otherwise, the very first difficulties and collapse of illusions will have dire consequences.
A business built around your strengths and abilities will have a greater chance of success. It is important not only to create a profitable business, but also to be happy in the process of running it and enjoy its growth day by day.
Control your expenses. Even if there are a lot of them at the start, if you mismanage the funds, very soon there will be a shortage of them. So forget about luxurious offices, a new car and other expenses that burn money. Your wallet is the life and blood of your company.
Don't be afraid to make mistakes. It is rightly said that only those who do nothing make no mistakes. You will never know what the result of your efforts will be until you do what you planned. And it’s usually scary only at the very beginning.
Excuses are much easier to find than motivation to act. But, as experience shows, people usually regret lost opportunities, not mistakes made. Moreover, the willingness to take risks is a necessary trait for an entrepreneur.
Learn to manage time. The skill of time management is invaluable for a person living in the fast pace of modern life. Time is perhaps the only limited resource, the volume of which is the same for each person. Everyone only has 24 hours a day, and the success of your business depends on how you manage them.
Yuritza G Nino de Daall
Quality Assurance / Process Improvement / Project Manager
53
Answers
Flowery Branch, Georgia
Updated
Yuritza G’s Answer
Hi there!!! Starting a business is like embarking on a thrilling adventure! First things first, before you dive into the details, take a moment with Lela to really brainstorm and clarify your vision. What do you both want to achieve with your business? What sets you apart from others? Having a clear understanding of your goals and values will lay a strong foundation for everything that follows.
Next up, let's talk about research. It might not sound like the most exciting part, but trust me, it's crucial! Take the time to really get to know your market— who are your potential customers? What are their needs and pain points? By understanding your audience inside and out, you'll be better equipped to tailor your products or services to meet their demands.
Lastly, don't forget to build a support network. Starting a business can be both thrilling and daunting, so surround yourselves with mentors, friends, and fellow entrepreneurs who can offer guidance, support, and a listening ear when you need it most. Remember, you don't have to go it alone! With a clear vision, thorough research, and a strong support system, you and Lela are well on your way to turning your business dreams into reality.
Believe in yourselves, stay focused on your goals, and never underestimate the power of perseverance. Starting a business is no small feat, but with determination, passion, and a solid plan in place, you've got what it takes to succeed. So go ahead, take that leap of faith, and watch as your business blossoms into something truly extraordinary. You've got this!
Next up, let's talk about research. It might not sound like the most exciting part, but trust me, it's crucial! Take the time to really get to know your market— who are your potential customers? What are their needs and pain points? By understanding your audience inside and out, you'll be better equipped to tailor your products or services to meet their demands.
Lastly, don't forget to build a support network. Starting a business can be both thrilling and daunting, so surround yourselves with mentors, friends, and fellow entrepreneurs who can offer guidance, support, and a listening ear when you need it most. Remember, you don't have to go it alone! With a clear vision, thorough research, and a strong support system, you and Lela are well on your way to turning your business dreams into reality.
Believe in yourselves, stay focused on your goals, and never underestimate the power of perseverance. Starting a business is no small feat, but with determination, passion, and a solid plan in place, you've got what it takes to succeed. So go ahead, take that leap of faith, and watch as your business blossoms into something truly extraordinary. You've got this!
Faith Sani
43
Answers
Updated
Faith’s Answer
Starting a business can be an exciting and challenging endeavor. Here are some tips to consider as you begin this journey with Lela:
1. Clearly define your business idea: Ensure that you and Lela have a clear understanding of the products or services you will offer, your target market, and your unique value proposition.
2. Develop a detailed business plan: Create a comprehensive business plan that outlines your business goals, target market, financial projections, marketing strategies, and operational plan.
3. Determine roles and responsibilities: Clearly define each person's role in the business, including decision-making processes, responsibilities, and expectations.
4. Build a strong team: Surround yourself with a team of skilled and dedicated individuals who can contribute to the success of your business.
5. Focus on marketing and branding: Develop a strong brand identity and marketing strategy to promote your business and attract customers.
6. Manage finances effectively: Keep track of your expenses, revenue, and cash flow to ensure financial stability and growth.
7. Seek mentorship and advice: Connect with experienced entrepreneurs, industry experts, or small business advisors for guidance and support.
Remember, starting a business requires hard work, dedication, and perseverance. Stay focused, adaptable, and willing to learn from your experiences as you navigate the challenges and opportunities of entrepreneurship with Lela.
1. Clearly define your business idea: Ensure that you and Lela have a clear understanding of the products or services you will offer, your target market, and your unique value proposition.
2. Develop a detailed business plan: Create a comprehensive business plan that outlines your business goals, target market, financial projections, marketing strategies, and operational plan.
3. Determine roles and responsibilities: Clearly define each person's role in the business, including decision-making processes, responsibilities, and expectations.
4. Build a strong team: Surround yourself with a team of skilled and dedicated individuals who can contribute to the success of your business.
5. Focus on marketing and branding: Develop a strong brand identity and marketing strategy to promote your business and attract customers.
6. Manage finances effectively: Keep track of your expenses, revenue, and cash flow to ensure financial stability and growth.
7. Seek mentorship and advice: Connect with experienced entrepreneurs, industry experts, or small business advisors for guidance and support.
Remember, starting a business requires hard work, dedication, and perseverance. Stay focused, adaptable, and willing to learn from your experiences as you navigate the challenges and opportunities of entrepreneurship with Lela.
Loved reading this, thanks!
Favour
Jerome Dees Jr.
Sales Professional and Networking Expert
613
Answers
San Francisco, California
Updated
Jerome’s Answer
The good news is that there are SO many resources out there. You can get free business tips from SCORE. You can join programs like NFTE that will coach you and give you the chance to win funding for your business.
I'd say my biggest piece of advice would be to find a mentor who is in the space you are entering. There are many things you won't know (and that's ok), but being wise enough to get help will save you time, money and frustration.
I'd say my biggest piece of advice would be to find a mentor who is in the space you are entering. There are many things you won't know (and that's ok), but being wise enough to get help will save you time, money and frustration.