8 answers
Kayden
Student
Yuma, Arizona
1
Question
Updated
871 views
How do I become a business owner/manager?
My parents own business and I want to own there business they do non emergency medical transportation.
Login to comment
8 answers
Anthony Kofi Hene-Amoah
Translation, Editing, Project Management, Research and Evangelism
176
Answers
Jema, Brong Ahafo Region
Updated
Anthony’s Answer
Hello!
Please, note the following, concerning how to become a business owner :-
1. Identify the type of business.
2. Much interest and knowledge in the business.
3. Diligence and Faithfulness in the business.
4. The required capital.
5. Availability of favourable marketing conditions.
6. The need for proper business management skills. For example, good Team Work, Communication, Approachable, excellent Accountability, etc.
Best regards.
Please, note the following, concerning how to become a business owner :-
1. Identify the type of business.
2. Much interest and knowledge in the business.
3. Diligence and Faithfulness in the business.
4. The required capital.
5. Availability of favourable marketing conditions.
6. The need for proper business management skills. For example, good Team Work, Communication, Approachable, excellent Accountability, etc.
Best regards.
I'm excited to put your great advice to good use!
Kayden
Robert Epstein
General Manager
85
Answers
Naples, Florida
Updated
Robert’s Answer
Hi Kayden,
It’s great that you have an interest in pursuing a business career. I’ve started 3 small medically related businesses and learned much along the way. The answers already given here are excellent and spell out all the important basics. Let me add one more thing: pick a likely successful one that you really love. It’s your love of the business (not just the money) that will help get you through the rough times that you will face. Best of luck!
It’s great that you have an interest in pursuing a business career. I’ve started 3 small medically related businesses and learned much along the way. The answers already given here are excellent and spell out all the important basics. Let me add one more thing: pick a likely successful one that you really love. It’s your love of the business (not just the money) that will help get you through the rough times that you will face. Best of luck!
Mbah Wai-Tanyi Aguh
Agronomist
56
Answers
New Rochelle, New York
Updated
Mbah Wai-Tanyi’s Answer
The path to becoming a business owner/manager involves a combination of education, experience, and skills. Here's a step-by-step guide to help you achieve your goal:
1. *Gain relevant education and training*:
- Pursue a degree in Business Administration, Management, or a related field.
- Consider an MBA or a Master's in Healthcare Administration for advanced knowledge.
2. *Learn from your parents' business*:
- Intern or work part-time at your parents' non-emergency medical transportation company.
- Observe and assist with daily operations, management, and decision-making.
3. *Acquire industry knowledge and certifications*:
- Study the non-emergency medical transportation industry, its regulations, and best practices.
- Obtain relevant certifications, such as the Certified Transportation Broker (CTB) or Certified Medical Transporter (CMT).
4. *Develop essential skills*:
- Leadership and management
- Communication and interpersonal skills
- Financial management and accounting
- Marketing and business development
- Problem-solving and adaptability
5. *Get hands-on experience*:
- Take on increasingly responsible roles within your parents' company.
- Assist with strategic planning, operations management, and decision-making.
6. *Network and build relationships*:
- Attend industry conferences and events.
- Connect with professionals in the non-emergency medical transportation field.
- Build relationships with potential partners, vendors, and clients.
7. *Create a succession plan*:
- Discuss your goals and aspirations with your parents.
- Develop a plan for transitioning ownership and management responsibilities.
8. *Prepare for ownership*:
- Learn about the financial aspects of the business, including accounting, budgeting, and funding.
- Understand the legal and regulatory requirements for owning and operating the business.
9. *Take the reins*:
- Gradually assume more responsibility and decision-making authority.
- Demonstrate your capabilities and commitment to leading the business.
Remember, becoming a successful business owner/manager takes time, effort, and dedication. Focus on building your skills, knowledge, and experience, and you'll be well-prepared to take over your parents' business.
1. *Gain relevant education and training*:
- Pursue a degree in Business Administration, Management, or a related field.
- Consider an MBA or a Master's in Healthcare Administration for advanced knowledge.
2. *Learn from your parents' business*:
- Intern or work part-time at your parents' non-emergency medical transportation company.
- Observe and assist with daily operations, management, and decision-making.
3. *Acquire industry knowledge and certifications*:
- Study the non-emergency medical transportation industry, its regulations, and best practices.
- Obtain relevant certifications, such as the Certified Transportation Broker (CTB) or Certified Medical Transporter (CMT).
4. *Develop essential skills*:
- Leadership and management
- Communication and interpersonal skills
- Financial management and accounting
- Marketing and business development
- Problem-solving and adaptability
5. *Get hands-on experience*:
- Take on increasingly responsible roles within your parents' company.
- Assist with strategic planning, operations management, and decision-making.
6. *Network and build relationships*:
- Attend industry conferences and events.
- Connect with professionals in the non-emergency medical transportation field.
- Build relationships with potential partners, vendors, and clients.
7. *Create a succession plan*:
- Discuss your goals and aspirations with your parents.
- Develop a plan for transitioning ownership and management responsibilities.
8. *Prepare for ownership*:
- Learn about the financial aspects of the business, including accounting, budgeting, and funding.
- Understand the legal and regulatory requirements for owning and operating the business.
9. *Take the reins*:
- Gradually assume more responsibility and decision-making authority.
- Demonstrate your capabilities and commitment to leading the business.
Remember, becoming a successful business owner/manager takes time, effort, and dedication. Focus on building your skills, knowledge, and experience, and you'll be well-prepared to take over your parents' business.
Adaobi Ogheneovo B.SC Acct, MPA , IBM
CLIENT MANAGER
65
Answers
Saint John, New Brunswick, Canada
Updated
Adaobi’s Answer
Becoming a Business Owner
1. **Find a Business Idea**: Align with your interests and market demand.
2. **Market Research**: Understand your market and competitors.
3. **Business Plan**: Outline goals, strategies, and finances.
4. **Secure Funding**: Explore savings, loans, or investors.
5. **Register Your Business**: Choose a structure and register.
6. **Set Up Operations**: Find a location and get permits.
7. **Market Your Business**: Develop a marketing strategy.
8. **Manage Finances**: Track finances and comply with taxes.
9. **Grow**: Look for expansion opportunities.
Becoming a Business Manager
1. **Get Credentials**: Degree in business or management.
2. **Build Experience**: Gain leadership and operational skills.
3. **Develop Skills**: Focus on finance, leadership, and communication.
4. **Network**: Connect with industry professionals.
5. **Seek Mentorship**: Find mentors for guidance.
6. **Stay Updated**: Keep learning and stay current with trends.
1. **Find a Business Idea**: Align with your interests and market demand.
2. **Market Research**: Understand your market and competitors.
3. **Business Plan**: Outline goals, strategies, and finances.
4. **Secure Funding**: Explore savings, loans, or investors.
5. **Register Your Business**: Choose a structure and register.
6. **Set Up Operations**: Find a location and get permits.
7. **Market Your Business**: Develop a marketing strategy.
8. **Manage Finances**: Track finances and comply with taxes.
9. **Grow**: Look for expansion opportunities.
Becoming a Business Manager
1. **Get Credentials**: Degree in business or management.
2. **Build Experience**: Gain leadership and operational skills.
3. **Develop Skills**: Focus on finance, leadership, and communication.
4. **Network**: Connect with industry professionals.
5. **Seek Mentorship**: Find mentors for guidance.
6. **Stay Updated**: Keep learning and stay current with trends.
Thank you for the advice, Adaobi.
Kayden
Harry Clapeck
Manufacturing
28
Answers
Scottsdale, Arizona
Updated
Harry’s Answer
Hi Kayden. It's good that you are planning ahead.
My suggestions are that you start to learn about business. Your parents probably learned things via the school of hard knocks. You have the time to invest in learning the ins and outs of running a business. Plan on going to AZ Western College and take some general business classes along with basic accounting and marketing. A management class won't hurt you either. Once you get your business knowledge (I recommend getting a degree but it isn't necessary), you can start to learn how they run the business and what problems they might encounter. Mirror their activities, watch closely and ask questions, EG: why did you do that? What happens if you do this? You are fortunate that you won't have to "reinvent the wheel", they have started it for you. You can learn as you go.
There may be the opportunity to expand the business so you want to be prepared. The business learning can help with that. It also will assist you in "putting out fires."
Good luck Kayden
Harry Clapeck
My suggestions are that you start to learn about business. Your parents probably learned things via the school of hard knocks. You have the time to invest in learning the ins and outs of running a business. Plan on going to AZ Western College and take some general business classes along with basic accounting and marketing. A management class won't hurt you either. Once you get your business knowledge (I recommend getting a degree but it isn't necessary), you can start to learn how they run the business and what problems they might encounter. Mirror their activities, watch closely and ask questions, EG: why did you do that? What happens if you do this? You are fortunate that you won't have to "reinvent the wheel", they have started it for you. You can learn as you go.
There may be the opportunity to expand the business so you want to be prepared. The business learning can help with that. It also will assist you in "putting out fires."
Good luck Kayden
Harry Clapeck
Thanks, can't wait to put this advice into action!
Kayden
Helanda Crespin
Content Writer and Editor
7
Answers
Dallas, Texas
Updated
Helanda’s Answer
Kayden,
If I may be frank in my answer to your question: "How do I become a business owner/manager." I must begin by asking, "Are you interested in your family's business or is it an easier route toward business ownership"? These two questions are important to answer. Self-assessment is based on honesty.
Brief story, when I began my educational career, everyone told me to choose a career field that paid well. I took this advice to heart, studied Accounting, and later began work at a well-established hotel corporation. The outcome: I was great at my position but I hated it. Do you get where I am going? Choosing a career based on ease or someone's ideas of success may become a burden down the road. In the end, your decision in business must be founded on a self-assessment that you can live with. You'll be working for more than half of your life. Think about your ambitions as a jump off to your wildest dreams and work back into reality.
Reality may look like, gaining more education, finding a business mentor, researching the medical industry for gaps in patient healthcare.
I suggest that you talk to your parents about their worse experience in maintaining a successful business. They are your closet research participants.
Complete thorough research in medical transportation. Begin with questions about what is wrong with emergency medical transportation.
Get familiar with your community's medical needs. When you know what the need is, your business can develop a product or service to fill it.
Work for another company in the same business as your family. This work experience will help you gain insight from another perspective. But tread lightly here, your parents may disagree.
Stay open to other options and opportunities. While you are researching and gaining more experience, you may stumble on something more interesting.
If I may be frank in my answer to your question: "How do I become a business owner/manager." I must begin by asking, "Are you interested in your family's business or is it an easier route toward business ownership"? These two questions are important to answer. Self-assessment is based on honesty.
Brief story, when I began my educational career, everyone told me to choose a career field that paid well. I took this advice to heart, studied Accounting, and later began work at a well-established hotel corporation. The outcome: I was great at my position but I hated it. Do you get where I am going? Choosing a career based on ease or someone's ideas of success may become a burden down the road. In the end, your decision in business must be founded on a self-assessment that you can live with. You'll be working for more than half of your life. Think about your ambitions as a jump off to your wildest dreams and work back into reality.
Reality may look like, gaining more education, finding a business mentor, researching the medical industry for gaps in patient healthcare.
Helanda recommends the following next steps:
Katherine Avery
Run a music studio and teach private music lessons; teach college-level religion classes
350
Answers
Spanish Fork, Utah
Updated
Katherine’s Answer
Hey Kayden,
I think you might get some help from Dave Ramsey's book EntreLeadership, and also maybe this workbook (https://www.churchofjesuschrist.org/bc/content/ldsorg/topics/self-reliance/2017/14678_sgmb_book_eng.pdf?lang=eng.
Good luck with keeping things running!
I think you might get some help from Dave Ramsey's book EntreLeadership, and also maybe this workbook (https://www.churchofjesuschrist.org/bc/content/ldsorg/topics/self-reliance/2017/14678_sgmb_book_eng.pdf?lang=eng.
Good luck with keeping things running!
Rebecca Tang
Banking
1858
Answers
Hong Kong
Updated
Rebecca’s Answer
Thank you for your question. I am glad that you want to become an entrepreneur. Have you thought about what industry you want to start your business.
Below are my suggestions:
1. Think about the industry you have interest or you have strength
2. Do some analysis on the industry, eg entry criteria, competition status, any alternative or substitute, etc
3. Attend industry related courses and management courses
4. Work in the industry some time to understand the business model and establish people network
5. Start the business online first if possible
Hope this helps! Good luck!
May Almighty God bless you!
Below are my suggestions:
1. Think about the industry you have interest or you have strength
2. Do some analysis on the industry, eg entry criteria, competition status, any alternative or substitute, etc
3. Attend industry related courses and management courses
4. Work in the industry some time to understand the business model and establish people network
5. Start the business online first if possible
Hope this helps! Good luck!
May Almighty God bless you!