What are the first steps in starting your own business?
I am an eighth grader and am looking into starting my own real estate business. I want to start my business wherever real estate will be thriving. I want to know want the best majors are to take in college in order to be an entrepreneur. I want to know what are the best classes in collage to take in order for me to be prepared to start my own business. #business #entrepreneur #college #real-estate
One place to start is research. Find similar business like the one you're thinking of in the marketplace and research them. When researching, use all platforms to research - Google, Twitter, Facebook, Instagram, LinkedIn... Find ways that you can offer the same products/services but with a twist. Be original and offer something that others are not. Give someone a reason to do business with you instead of a competitor.
When naming your business, to a trademark search to make sure you aren't using someone else's name.
Regarding class in college to take to become an entrepreneur- I can say that as a business owner I WISH I would have taken business classes! I'm sure your college admissions team can help plan out classes to take but I suggest taking a little bit of everything... including marketing, sales, finance. There is a lot of things you can learn from a mentor and by taking the right classes. Another avenue would be to research your local small business administration and see what classes they have available as well.
Good luck to you and continue to pursue your dreams!
Shaun recommends the following next steps:
Start an outline.
It can be something as simple as "Beginning, Middle, End Result". Outlines establish direction, basically the "what" portion of the issue.
Think of it like GPS guidance: you plug in where you want to go, you put in your starting position, and then the middle gets figured out.
As you fill it out, research what types of High School classes will best help you prepare for when you graduate? Will you need college classes? Will they help you reach your goal? What business classes can you take prior to graduating high school that could help? can you start reviewing and reading, thus familiarizing yourself with real estate guidelines now? Who can you talk to about the profession?
An outline can help direct you as you fill in the middle directions to get to where you want to go. This works well for everything from essays to completing chores.
People who have a purpose behind their work tend to be more successful because they are passionate and curious to learn new ways to be the best.
Find the need
In your case, it's real estate. But also try to figure out what location fits your purpose. What type of people are you looking to help. How will your business give back to the community.
Now you will be able to talk to an advisor about your goal, and they can point you in the right direction in terms of the education you may need.
Lastly, I say network with anyone who is familiar with the business. See if you can shadow someone, and learn the business. Get as much experience as you can.
But I do have a suggestion for you... look at the state requirements for being a licensed real estate professional. Each state has different requirements. Those requirements usually involve some sort of real-estate-based education that might not be offered in a college course.
There are college curriculums specifically some community colleges that offer a program of study in Business Management: Entrepreneurship. The course of study is more streamlined to an education in entrepreneurship however also has the traditional business courses that you would need such as Business Law, Accounting, Marketing etc.
There are also AAS Business Degrees from Community Colleges that are more Generic however still give you all the pertinent classes you would need. This would be the path I would choose as life changes and you could always transfer these credits to a University in the future and work toward a Bachelors degree in Business.
Focusing back on your career in Real estate; most all states offer real estate sales agent training course (s). It's a mandatory 40-60 hours depending on your state and it provides you with the education and training on how to pass your Real Estate Salesperson Exam. The training is a mandatory prerequisite that allows you to take your state exam. Once you successfully pass and have your license you can affiliate with a Broker and they provide a mentor and additional training while you learn.
Once you have had your sales license for a required number of years you can then study and take the Brokers License exam. To open your own real estate business or office you must have a Licensed Broker on staff. This could be you or someone you hire to take this role.
I hope this helps, what I have tried to do is provide a few different options for you to consider.
Before you do anything, make sure to take advantage of every free online resource to learn as much as possible about your field of interest. Then, talk to people who are successful in that field within your family, family friends or community. Use all of that knowledge to form a targeted strategy for launching a business. Save up some money and get people to invest in your idea.
Remember, you will face challenges at every step of the process. You have to get comfortable with failing early so you can learn from those mistakes and do better in the future.