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How do you start entrepreneurship?
I want to learn more in creating and starting my own business.
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Howard’s Answer
Hi Breanna,
Hope all is well and I like your question.
Becoming an entrepreneur is a very wonderful undertaking but it can also be very challenging. You might want to start by brainstorming to discover your business idea and how it will be profitable. You then must develop the particular product, get it patented and make sure you try it out with many people to see what their views might be. You will then need to establish a strong business plan (you can google business plan) to make sure that you have met all the criteria for a profitable product or idea. You will also need to find a secure funding area for your business before you can institute it. Once that is completed and you have achieved all the necessary steps, you can then start your entrepreneurship objective. Best wishes.
Sincerely,
Professor C
Hope all is well and I like your question.
Becoming an entrepreneur is a very wonderful undertaking but it can also be very challenging. You might want to start by brainstorming to discover your business idea and how it will be profitable. You then must develop the particular product, get it patented and make sure you try it out with many people to see what their views might be. You will then need to establish a strong business plan (you can google business plan) to make sure that you have met all the criteria for a profitable product or idea. You will also need to find a secure funding area for your business before you can institute it. Once that is completed and you have achieved all the necessary steps, you can then start your entrepreneurship objective. Best wishes.
Sincerely,
Professor C
Updated
Jonathan’s Answer
In his excellent book, "How I Built This", based on the interviews with successful entrepreneurs for his popular podcast of the same name, author Guy Raz said that most of the businesses start the same way (I'm paraphrasing):
1. A person has a problem, and starts to work on a solution
2. This becomes a hobby
3. In exploring their new hobby, they get feedback that maybe lots of other people have this problem, but the way they're solving it is too hard or expensive to replicate, or it isn't quite right. They start to tinker.
4. Now that they're full blown tinkering, and are learning more about whether there's a market for this - they've got a bunch of kind of life decisions to make.
5. For the people on Guy Raz's show, we know how the story ends. The big bets they took paid off, and they found a path to making a product the market really wanted, and much of the story is about learning how to make enough of it before running out of money, etc.
So, how do you start this? Keep thinking about a problem you have or are knowledgeable about, that you might want to solve in a better way than what's out there now. Pull on that thread until you're sure you don't want to do it anymore, or you have something like an opportunity to make a little money by solving it for other people. That gets you to step 4, and step 4 is where you want to be. That's the best feeling in the world. When you look back on your life, it will mostly be to reflect on the decisions you made at moments like step 4. Do I do this or not? Do I ask the person out or not? Do I apply for that school or not?
But it takes work and curiosity and applying yourself to get there.
1. A person has a problem, and starts to work on a solution
2. This becomes a hobby
3. In exploring their new hobby, they get feedback that maybe lots of other people have this problem, but the way they're solving it is too hard or expensive to replicate, or it isn't quite right. They start to tinker.
4. Now that they're full blown tinkering, and are learning more about whether there's a market for this - they've got a bunch of kind of life decisions to make.
5. For the people on Guy Raz's show, we know how the story ends. The big bets they took paid off, and they found a path to making a product the market really wanted, and much of the story is about learning how to make enough of it before running out of money, etc.
So, how do you start this? Keep thinking about a problem you have or are knowledgeable about, that you might want to solve in a better way than what's out there now. Pull on that thread until you're sure you don't want to do it anymore, or you have something like an opportunity to make a little money by solving it for other people. That gets you to step 4, and step 4 is where you want to be. That's the best feeling in the world. When you look back on your life, it will mostly be to reflect on the decisions you made at moments like step 4. Do I do this or not? Do I ask the person out or not? Do I apply for that school or not?
But it takes work and curiosity and applying yourself to get there.
Updated
Shandy’s Answer
Hello there. I absolutely agree with the other advice and that is to read, read, read. Readers are leaders and fortunately you are growing up in a time where if you don't prefer traditional books you can listen to audiobooks. :-)
To pursue your own business it is also good to shadow local business operations to learn not only what TO do but what NOT to do. Even if you aren't of working age, you can try to see if a local business such as a fast food restaurant or grocery store, would let you spend a couple of hours seeing how their business is run. Experience is a great teacher. I also recommend classes on how to actually manage money. Businesses are designed to not only be profitable, but to address a consumer need. Good luck!
To pursue your own business it is also good to shadow local business operations to learn not only what TO do but what NOT to do. Even if you aren't of working age, you can try to see if a local business such as a fast food restaurant or grocery store, would let you spend a couple of hours seeing how their business is run. Experience is a great teacher. I also recommend classes on how to actually manage money. Businesses are designed to not only be profitable, but to address a consumer need. Good luck!