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How would I start my own business at 16?
Lawrence
16
Nyc
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2 answers
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Daniel’s Answer
Hi Lawrence!
I would suggest the below 3 steps to help you start your own business.
1. You need to register your business with the Secretary of State (SOS). Most businesses register in the state where the business is actually located (HQ Address). At the same time you will need to decide the entity type for your business such as a LLC, Inc, LTD. Make sure you register with a state so your business can operate legally.
2. Come up with a business plan. This would include items such as operations, location, capital/funding, vision/mission statement etc. You can easily get lost in the weeds on this part. Don't get caught up in details that you can figure out later. Think big picture and ask yourself what is your business really trying to accomplish? That is always a good starting point on a business plan!
3. Lastly, come up with different business goals and set dates when you want to accomplish them. Setting a timeline will help you stay on track and know where you are in the process. It is very difficult but don't let yourself get caught up in the whirlwind of the "day to day." Meaning, set yourself and the business up with clear goals and do your best to not let the "daily fires" use up all your time. Inadvertently, you will have to attend to some of these daily fires but make sure you block off time to keep the vison of the company alive.
Out of the many business books I have read, if I could only suggest two books to you, it would be the books below. Hope these thoughts help and good luck on the journey!
Read Dream Big by Bob Goff
Read the The 4 Disciplines of Execution: Achieving Your Wildly Important Goals by Chris McChesney, Sean Covey, and Jim Huling
I would suggest the below 3 steps to help you start your own business.
1. You need to register your business with the Secretary of State (SOS). Most businesses register in the state where the business is actually located (HQ Address). At the same time you will need to decide the entity type for your business such as a LLC, Inc, LTD. Make sure you register with a state so your business can operate legally.
2. Come up with a business plan. This would include items such as operations, location, capital/funding, vision/mission statement etc. You can easily get lost in the weeds on this part. Don't get caught up in details that you can figure out later. Think big picture and ask yourself what is your business really trying to accomplish? That is always a good starting point on a business plan!
3. Lastly, come up with different business goals and set dates when you want to accomplish them. Setting a timeline will help you stay on track and know where you are in the process. It is very difficult but don't let yourself get caught up in the whirlwind of the "day to day." Meaning, set yourself and the business up with clear goals and do your best to not let the "daily fires" use up all your time. Inadvertently, you will have to attend to some of these daily fires but make sure you block off time to keep the vison of the company alive.
Out of the many business books I have read, if I could only suggest two books to you, it would be the books below. Hope these thoughts help and good luck on the journey!
Daniel recommends the following next steps:
Updated
Claude’s Answer
How would I start my own business at 16?
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Check out this website: https://www.shopify.com/blog/48360837-how-to-start-a-business-before-you-graduate-10-kidpreneurs-to-inspire-you
It talks about some of the things you will need to consider:
- Is a parent or guardian aware of your aspirations?
- What type of business do you want to start?
- Will your business be an in-person one, or online?
- Where did you get the idea?
- What need for customers does it fulfill?
- Are there currently other businesses like the one you are intending to start?
There are an abundance of resources online you can look into. Also, if you are still in school, talk to your teachers and guidance counselors for insight and assistance.
- Have you puit together a business plan?
- etc.
-------------------------------------------------------
Check out this website: https://www.shopify.com/blog/48360837-how-to-start-a-business-before-you-graduate-10-kidpreneurs-to-inspire-you
It talks about some of the things you will need to consider:
- Is a parent or guardian aware of your aspirations?
- What type of business do you want to start?
- Will your business be an in-person one, or online?
- Where did you get the idea?
- What need for customers does it fulfill?
- Are there currently other businesses like the one you are intending to start?
There are an abundance of resources online you can look into. Also, if you are still in school, talk to your teachers and guidance counselors for insight and assistance.
- Have you puit together a business plan?
- etc.