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How can I own my own business?

Hello, my name is Shane. I am 17 and I am currently a senior in high school. I was wondering how I would get to owning my own my business. Do I need to go to college? How long does it take to own a business? Any certifications I need to own my own business? Do I need to go to college to own my own business? business CEO entrepenuer

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Lina’s Answer

Kimberly has some great points above!

Shane, becoming an entrepreneur is definitely an exciting career path. I'm sure you're quite aware, but successful entrepreneurs faced a lot of failures prior to becoming successful. While you do not need to go to college, going to college and receiving a degree related to business, such as finance, accounting, or entrepreneur track, will help you tremendously as you prepare to launch your own business. These courses will provide you the skillsets that you will need and also give you an opportunity to seek like minded people that could potentially be your investor, business partner, and / or clients. Creating a business doesn't need anything special, you can easily google how to form your own LLC, pay the necessary fees, and have a business. However, creating a successful business isn't as simple as that. Like Kimberly said, do you have a business idea? Products? Capital to actually get the business up and running? The tenacity to continue if things do not go well? Back up plans?

I highly suggest you go to college and work on your business on the side. Every successful entrepreneur has their failures, which become their life long experience and learning life lessons. Best of luck!!!
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Kimberly’s Answer

Shane, this is a great question and you’re probably an energetic person with a lot of ideas that could fuel a great business. There are courses you can take and even college programs that can teach you about business, becoming and entrepreneur, and what makes businesses successful. Whether you decide to take the structured courses/programs or not, creating a business and then making it successful requires a lot of research, before, during and after you start the business. It also requires hard work but the benefits can be quite rewarding if you do your research, create a business plan, seek advice and counsel, and work hard.

So, if you have a business idea (or two), here are few things to think about:
1. Research the need for your product/service. Are there people and companies doing what you want to do? Your idea doesn’t have to be novel to do well as you could be building on an existing product or service
2. How will you market your product/service to generate customers? Who is your targeted audience and why do they need your products/services?
3. Understand the financial/commercial components of creating the product/service; How much can you sell the product/service for and how much does it cost you to deliver the product/service? Will you make money?
4. Where will you get the capital (money) to start your business, make the products or create the services?
5. Put all of the above into a business plan and seek advice and counsel. It doesn’t matter how many people agree or disagree with your business idea, seeking advice and counsel gives you the opportunity to listen for ways to improve your ideas and business before diving in and having to abandon the idea.

There is an abundant amount of information available on the internet, just by using the google search engine for the topics listed above. Google turned out to be a great business idea after years of not having any users. You can do it! Go for it!