Hi I’m 21 F I want to start my own business but I have no idea where to start . People have told me to start with online but I don’t use social media much and I have no idea what to do . What should I do ? Any suggestions…
Hi I’m 21 F I want to start my own business but I have no idea where to start . People have told me to start with online but I don’t use social media much and I have no idea what to do . What should I do ? Any suggestions…
You will probably get a lot of comments but I’ll just start here. Please don’t over romanticize “being your own boss” or “having your own busines.” Its not that you are young but from your statement it doesn’t seem like you have a passion or actual experience that normally lends it self to a successful or even low-money but rewarding business. I’ve had several businesses started in my twenties but they were a product of passion and I invested a lot of money into the ventures. All were ok but it’s a lot of hard work and sacrifice, even though I was working from home. Get a job in a field that interests you and observe how the busines works very carefullly. Also if you do jump into a business try to do a lot of research yourself l(not random redditors) on insurance, taxes, cost of good and services, logistics, and what your product even is and why people would hire or buy things from you. What differentiates your product and how are you going to market it? What makes you different from the many others who have the same idea?
This, listen to this. My wife and I started a nonprofit when she was 19 that is now multi-million a year, 20 years later, but you have to start a business that you are passionate about. And I worked to support it for years and years.
What? This always confused me. How do non-profits make $? If they’re a non-profit to begin with? What is non-profit about them?
There is a huge general misconception about the term non-profit. It doesn’t mean that people can’t make money on it, making big salaries, even lavish offices, perks and sucking money into the organization. There could be an entire reddit sub on this topic, how NGO, non-profit, Fair Trade descriptions are misconstrued to mean that it’s altruistic or people are working there in poverty. I know many who have quit good jobs in regular publicly traded corporations and make more money in NGO work.
There’s two ways to approach starting your own business. Either you have such a crazy passion for it that you’ll work to the bone and force being successful, this tends to mean 16 hour days, lots of wasted money and lessons learned, and whole lot of head aches. But if you’re smart and, quite frankly, lucky, you can make it happen.
Other option, and the one I recommend to the majority of young entrepreneurs, is to get a job in the field you are looking to enter.
Waste someone else’s money learning and get paid for the learning phase, yes it’s less rewarding but most people end up far better off. I worked in my field for 5 years before starting my own thing, and when I started I got off to a great start and only made a few mistakes compared to starting from scratch.
I even tell my staff if they ever want to do it on their own one day, just learn and make mistakes with my resources before moving on. If you’re good, and have a caring mentor, they’ll probably even open up some doors for you.