2 answers
3
Asked 438 views

How can I feel confident in my decisions as an entrepreneur with no formal education that I’m taking all the necessary steps to ensure my business has all the necessary components #Spring25?

Digital Products
Dropshipping

business entrepreneur entrepreneurship
Answer This

+25 Karma if successful
From: You
To: Friend
Subject: Career question for you
3

2 answers

0
Updated
Share a link to this answer
Share a link to this answer

Donna’s Answer

Tiana;

How enterprising you are to be starting your own business so young. Even with formal education you can not be sure that you have covered all the required components and factors that go into running a business. Sometimes you have to venture out on a RISK basis because you simply don't have the capitol to cover all bases.

Hopefully though you are partnered with a strong Mentor, who can help you on this journey.

If not I have included a few sites below which you should review.

Donna recommends the following next steps:

https://www.sba.gov/federal-contracting/contracting-assistance-programs/sba-mentor-protege-program
https://www.score.org/greaterbaltimore
https://www.score.org/women-entrepreneurs
https://amabaltimore.org/signature-programs/mentorship-program/
https://www.umventures.org/for-inventors/resources/consulting-mentoring
0
0
Updated
Share a link to this answer
Share a link to this answer

Brian’s Answer

Starting a business requires comfort with failure. No formal education required, but you always want to be learning. The trick is to invest the least amount necessary to learn if you're onto something good. Maybe 95 out of a 100 ideas don't work out. If you have a great plan and get good at it, maybe that's 80 out of a 100 ideas that fail.

How might you test 20 ideas a week without burning out? Imperfect ideas are the best kind to test. Here's an approach you might take:

1. Research a market or category where you see business opportunity.
2. Interview potential customers in that market to understand their wants and needs and see if you can find common, important desires that are going unsatisfied in the market.
3. Get feedback on several ways to solve those needs.
4. Identify your riskiest assumptions, then explore if you can overcome them with the least effort and cost possible
5. When it works, you'll know it.

It never has to be perfect to find out if it's good. Test lots of imperfect ideas to explore demand and your ability to meet it.
0