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I want to find out how to make my own business

I'm a sophomore in high school. I want to create and online business for local people around me. I want the business to reflect positivity in my community. business-management entrepreneur business-development

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Judi’s Answer

Creating and managing your own business is very challenging, but can be very rewarding both personally and financially! There is much for you to think about including deciding what you want to sell and how you want to distribute your products. Will your online business involve food? If so you will need to know food and safety laws. Will your online business sell services? You will need to know your local market and competition. Depending on what you sell you may need a business license or permit. This side of the business world can be daunting but there are free resources that can give you advice about the mechanics of opening a business. Start your research with trusted sources like the Small Business Administration (www.sba.gov) that has lots of online resources to guide you through creating a business plan, launching and managing your business. Local governments also offer assistance like www.commerce.idaho.gov.

No matter what you decide, pick something that you love to do! Don’t just focus on the money. Your passion about your business will contribute to your success - good luck!
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Adan’s Answer

Hey Shelby, I think it’s great you want to start your own online business. A great strategy would be to first identify what exactly the business goal and purpose is. When thinking of different businesses to create, something to think about is the entrepreneurial motto, “find a need, fill a need.” So you should ask yourself, is this business solving some type of problem or making things easier for people? Find a way to start small with a minimal viable project (MVP), this should be your intended business but broken down into it’s simplest form. For example, if you wanted to start a restaurant, your MVP would be to make food out of your house and sell it to friends and family. You would then identify feedback from this group and continue to grow, so maybe you would start marketing the food beyond your friends and family and to different groups on social media. Starting off with an MVP will let you know if your business has the potential to grow into something bigger. Good luck with all that you’re doing!
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Rebecca’s Answer

I am glad to hear that you would like to start your business. I would suggest a few steps below to start with :
1. Identify the industry(ies) you have interest in
2. You may explore more or analyze on the industry to narrow down to 1-2 industry, e.g. entry criteria, market competition, any substitutes, etc. Speak to someone who are in the industry if you have a chance
3. Choose the relevant subjects in your college course
4. If you can a chance, try to work in the industry to understand the business model and the practice.
5. Try to start the business online in small scale. You may need to fine tune the process and business model at the beginning from time to time.
Hope this helps! Good Luck!
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Maria’s Answer

Hi Shelby!

Small business owners are the heart of every community, so it's great to hear you are thinking of following this path. I agree with the advice given to you on this thread, and would add that there are many non profit community organizations that focus on helping small business owners understand how to start a business. SBA.gov is a great site and SCORE is another great community resource.

Good luck!
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