4 answers
Shianne
Student
Athens, Texas
3
Questions
Asked
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I want to start a business but I'm not sure where to start?
I wan to be a pediatrician but I realize that to get into a good school you need good grades, money for your tuition and a solid GPA. I'm currently going to be a sophmore in high school, and I want to have a little side hustle to earn some money. The thing I'm stuck on is that I don't know where to start.
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4 answers
Iván Cárdenas Valenzuela
Catalog manager
7
Answers
Guadalajara
Updated
Iván’s Answer
Starting a business can be an exciting but challenging endeavor. Here are some steps to help you get started:
Idea Generation and Research:
Identify your passions, skills, and interests. What do you enjoy doing or what problem would you like to solve?
Research the market to understand the demand for your product or service. Who are your potential competitors? What is your unique value proposition?
Business Planning:
Create a business plan. Outline your business idea, target audience, competitive landscape, marketing strategy, financial projections, and operational plan.
Decide on the legal structure of your business (sole proprietorship, partnership, LLC, corporation) and register it according to your country's regulations.
Market Research and Target Audience:
Understand your target audience's needs, preferences, and behaviors. This will help you tailor your offerings to their requirements.
Develop buyer personas to create a clear picture of your ideal customers.
Product or Service Development:
Develop your product or service based on the needs and preferences of your target audience.
Focus on creating value and solving problems for your customers.
Branding and Identity:
Create a memorable and appropriate brand name, logo, and visual identity that resonate with your target audience.
Develop a brand message that communicates your value proposition.
Marketing and Promotion:
Develop a marketing plan that includes both online and offline strategies.
Utilize social media, content marketing, email marketing, SEO, and potentially paid advertising to reach your target audience.
Financial Planning and Funding:
Estimate your startup costs and create a budget for your business operations.
Explore funding options such as personal savings, loans, angel investors, venture capital, or crowdfunding.
Legal and Regulatory Considerations:
Obtain any necessary licenses and permits for your business.
Comply with tax regulations and other legal requirements in your jurisdiction.
Setting Up Operations:
Establish your physical or online presence, such as a storefront, website, or online marketplace.
Set up your business processes, from procurement to customer service.
Launch and Iterate:
Launch your business and gather feedback from early customers.
Be prepared to adapt and refine your offerings based on customer feedback and changing market conditions.
Remember that starting a business requires careful planning, dedication, and perseverance. Surround yourself with a supportive network, and don't hesitate to seek advice from mentors or professionals in your industry. Each step might take time, so be patient and stay focused on your goals.
Idea Generation and Research:
Identify your passions, skills, and interests. What do you enjoy doing or what problem would you like to solve?
Research the market to understand the demand for your product or service. Who are your potential competitors? What is your unique value proposition?
Business Planning:
Create a business plan. Outline your business idea, target audience, competitive landscape, marketing strategy, financial projections, and operational plan.
Decide on the legal structure of your business (sole proprietorship, partnership, LLC, corporation) and register it according to your country's regulations.
Market Research and Target Audience:
Understand your target audience's needs, preferences, and behaviors. This will help you tailor your offerings to their requirements.
Develop buyer personas to create a clear picture of your ideal customers.
Product or Service Development:
Develop your product or service based on the needs and preferences of your target audience.
Focus on creating value and solving problems for your customers.
Branding and Identity:
Create a memorable and appropriate brand name, logo, and visual identity that resonate with your target audience.
Develop a brand message that communicates your value proposition.
Marketing and Promotion:
Develop a marketing plan that includes both online and offline strategies.
Utilize social media, content marketing, email marketing, SEO, and potentially paid advertising to reach your target audience.
Financial Planning and Funding:
Estimate your startup costs and create a budget for your business operations.
Explore funding options such as personal savings, loans, angel investors, venture capital, or crowdfunding.
Legal and Regulatory Considerations:
Obtain any necessary licenses and permits for your business.
Comply with tax regulations and other legal requirements in your jurisdiction.
Setting Up Operations:
Establish your physical or online presence, such as a storefront, website, or online marketplace.
Set up your business processes, from procurement to customer service.
Launch and Iterate:
Launch your business and gather feedback from early customers.
Be prepared to adapt and refine your offerings based on customer feedback and changing market conditions.
Remember that starting a business requires careful planning, dedication, and perseverance. Surround yourself with a supportive network, and don't hesitate to seek advice from mentors or professionals in your industry. Each step might take time, so be patient and stay focused on your goals.
David L. Rojas Kalbach
Financial Advisor/Wealth Management Consultant/Financial Planner
6
Answers
San Juan, Puerto Rico
Updated
David’s Answer
Hello,
I was once in your shoes, and I can assure you, earning some money is beneficial, but your primary focus should be on excelling in school. This will pave the way for you to secure grants, which you won't have to repay, making your college and medical school journey more financially manageable.
If you're contemplating starting a business, remember it requires careful planning, initial investment, dedication, and long hours. Ensure it's something you're skilled at and can provide a solution to people's needs, desires, or wants. Be prepared to devote 1-2 hours each day to it, consistently, after completing your schoolwork. Commit fully to it, save every penny possible, and practice extreme frugality. Avoid spending your money on unnecessary items.
Always question yourself; Do I need this? Do I want this? Do I deserve this? There's a significant difference between these questions. Most of the time, we can live without what we want or think we deserve, but our needs are more fundamental. If you don't need it, then it's something you shouldn't spend your hard-earned money on.
Consider working part-time for someone who needs extra help. This will give you a chance to learn about the work environment, its operations, and management, and you can use these lessons and the money earned for future ventures. This is exactly what I did when I was young.
Before graduating from high school, I mowed lawns, farmed peppers, washed cars, worked at a bakery, was an assistant chef at a restaurant, and worked in construction. When I went to university, I had money to support myself while I studied. I also worked while studying, but my priority was always academics first, then work.
I hope this advice is helpful. Keep moving forward with your ideas and thoughts, but remember, progress is only made when you act on your thoughts and ideas.
Best of luck to you.
I was once in your shoes, and I can assure you, earning some money is beneficial, but your primary focus should be on excelling in school. This will pave the way for you to secure grants, which you won't have to repay, making your college and medical school journey more financially manageable.
If you're contemplating starting a business, remember it requires careful planning, initial investment, dedication, and long hours. Ensure it's something you're skilled at and can provide a solution to people's needs, desires, or wants. Be prepared to devote 1-2 hours each day to it, consistently, after completing your schoolwork. Commit fully to it, save every penny possible, and practice extreme frugality. Avoid spending your money on unnecessary items.
Always question yourself; Do I need this? Do I want this? Do I deserve this? There's a significant difference between these questions. Most of the time, we can live without what we want or think we deserve, but our needs are more fundamental. If you don't need it, then it's something you shouldn't spend your hard-earned money on.
Consider working part-time for someone who needs extra help. This will give you a chance to learn about the work environment, its operations, and management, and you can use these lessons and the money earned for future ventures. This is exactly what I did when I was young.
Before graduating from high school, I mowed lawns, farmed peppers, washed cars, worked at a bakery, was an assistant chef at a restaurant, and worked in construction. When I went to university, I had money to support myself while I studied. I also worked while studying, but my priority was always academics first, then work.
I hope this advice is helpful. Keep moving forward with your ideas and thoughts, but remember, progress is only made when you act on your thoughts and ideas.
Best of luck to you.
I appreciate you taking the time to answer this.
Shianne
Jerome Dees Jr.
Sales Professional and Networking Expert
500
Answers
San Francisco, California
Updated
Jerome’s Answer
I started a catering company to help pay my way through college. It was a lot of work, but helped me get through.
What are things you enjoy or things that you are good at?
You can always mow lawns, babysit, offer to take trash to curbs, walk dogs, etc.
Are you good at a subject in school? Maybe you could offer tutoring for those in lower grades.
Hope this helps.
What are things you enjoy or things that you are good at?
You can always mow lawns, babysit, offer to take trash to curbs, walk dogs, etc.
Are you good at a subject in school? Maybe you could offer tutoring for those in lower grades.
Hope this helps.
I am really grateful you took the time to answer this question.
Shianne
Han-Bee Ryu
Freelance Marketer
16
Answers
Centerville, Utah
Updated
Han-Bee’s Answer
Hey Shianne,
It's super cool that you're already thinking about your future - way to go! I absolutely love Jerome's suggestions, but felt it would be helpful to contribute to the list.
Here are a couple of easy-to-start side hustles that won't break the bank.
- Sell digital downloadables or other products on Etsy.
- Consider Freelancing! Check out Upwork or Fiverr to see the different types of freelance work others are doing.
If freelancing piques your interest, I'd definitely suggest checking out Keeper Tax. They've got some handy resources to help you understand deductions and self-employment tax: https://www.keepertax.com/free-resources
I wish you all the best in your exciting adventures!
Check out Etsy for Business Ideas.
Check out Upwork or Fiverr for Freelance opportunities.
It's super cool that you're already thinking about your future - way to go! I absolutely love Jerome's suggestions, but felt it would be helpful to contribute to the list.
Here are a couple of easy-to-start side hustles that won't break the bank.
- Sell digital downloadables or other products on Etsy.
- Consider Freelancing! Check out Upwork or Fiverr to see the different types of freelance work others are doing.
If freelancing piques your interest, I'd definitely suggest checking out Keeper Tax. They've got some handy resources to help you understand deductions and self-employment tax: https://www.keepertax.com/free-resources
I wish you all the best in your exciting adventures!
Han-Bee recommends the following next steps:
I am really grateful you took the time to answer this question.
Shianne