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What steps would you take in order to become an entrepreneur?

I've wanted to become an entrepreneur since I was young, but I am not sure how I would go about " starting a company." Also, I know that I want to start a business, but I am not yet sure what field I want to work in, or what service or product my business could offer. How would I start a company? What do I need to start a company? Do I need any credentials to start a company? #business #entrepreneurship #entrepreneur #investors #startups

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Hi JC, This is a such great question! I see you are in Daly City, California. There is so much going on in the area of entrepreneurship!!! Why is this? Well it is because there have been so many new technologies created to help entrepreneurs track inventory, create applications, reach customers all over the world using social media, and just in time logistics. You are living in an incredible time to be an entrepreneur. You can literally run a company from anywhere in the world if you have an Internet connection. It's really important to learn some basic things about business. There is actually an organization in your area that teaches entrepreneurship to kids and young adults. Here are some links that might be helpful: https://www.juniorachievement.org/web/ja-usa/home https://www.juniorachievement.org/web/ja-norcal Search the site, see what interests you. Keep a journal or bookmark all the things that seem interesting to you. Then also search/Google the word "entrepreneur" and "best ted talks on entrepreneurship". Entrepreneurs learn to become entrepreneurs by listening and learning from all kinds of other entrepreneurs. It's really important to have a good business background so that you can manage your business and make sound financial decisions. If you are more of an idea/creative person, you still need a foundation in business - speak the language of business - but you might want to work/partner with someone who has these business skills. Start small. Start with $20 - $40 dollars as seed capital. Start by making something or selling something. It could be as simple as starting your own lawn business or cookie baking business. By starting small you will learn first hand how to make a budget, price your product, sell your product, market your product, and hopefully turn a profit. If you don't succeed at first, figure out what isn't working. Talk to other entrepreneurs. Keep a journal of what works and what doesn't. Try a new business model or a new idea. Consider an internship in entrepreneurship in Daly City. Google "entrepreneur internships in Daly City". See if something looks interesting. If you don't find something you like, research businesses you like or admire. You asked some great questions: why not try out a couple of different internships to figure out what industries and products you like. Think about what products or services that you are very excited about. Choose and industry that you feel strongly about. Maybe you love working on video games, or designing apps, or cutting hair, or making art. These are all things that require entrepreneurship. Whatever you decide to pursue, make a resume and go talk to someone about becoming an intern or shadowing an entrepreneur for a day. Entrepreneurs hear the word "no" a lot. What makes an entrepreneur different is that entrepreneurs figure out how to get to "yes" . It might take many tries, a different direction, or a major change, but they keep going. Also, if you get a "no", thank the person for their time and ask them for 3 ideas/contacts that they think could help you solve the question or get to "yes." There are many entrepreneurs who have learned to become entrepreneurs by teaching themselves or mentoring with other entrepreneurs. There are also entrepreneurs who have degrees in business, healthcare, science, technology, engineering, and math (STEM) and these areas are going to be amazing cutting opportunities. A business degree is super helpful and you can find courses in high school, community college, college, and beyond. Some of the decision about what degree you need is driven by what industry you choose and whether there is a licensing requirement. Also, entrepreneurs have to follow standard business practices, pay taxes and payroll, so definitely work on the business courses. Combining a business degree with another technical area can give you a big competitive edge. Partnering with team mates that are experts in different fields and work really well together can be very valuable and rewarding. Assess your strengths and interests and add these to your journal/bookmarks. I hope this helps you start your journey to becoming an entrepreneur. This is such an amazing area and I know you will learn so much by pursuing this career. #stem, #entrepreneurship, #business, #startups
Last updated Jan 11 at 08:21 PM

I've been involved in several startups, and I can share some basic guidelines that I think will quickly summarize what I've learned. First, you need to address a need -- i. e., solve a problem -- that people consider valuable to solve. Without solving a problem, a business is doomed to failure. One approach is called "Design Thinking". Again, material on this approach is readily available, but to give you the essentials, you don't just solve a problem, but you spend as much effort as possible to understand the environment, concerns, goals and experience of the customer. For example, if you're solving a problem for a baker, you don't simply look for a product, like an oven, that you can sell. You interview, observe, learn, experience as much about what the baker does and what challenges he or she encounters, even throughout their day. A good analogy would be the difference between someone reading an article about things a baker uses in the business as compared to being in a family business of a bakery. Second, you need to be passionate about the goal, because a business will be competing against others, and those others will most likely include people that live and breathe what you're trying to get into. This will also make the fact that approximately 86 percent of startups never turn a profit, so this is not a trivial thing. Third, get as much advice as possible. Don't get caught up in being overly optimistic. Or pessimistic. If someone says you have sure-fire idea, find someone else who will criticize it. You need realism from folks who have the most knowledge, experience, and contacts to others with such experience. And listen. I've seen businesses fail miserably because the task got overwhelming, the people lost focus, they blundered around kludging new things into the business, and generally exhausted the patience of their financial backers. And the fourth thing -- something that many people ignore due to the effort and stress and fear -- fail soon, fail often, fail quickly. This means prototyping. Being too conservative, too cautious, not trying new ideas and, worse, not learning from failures and changing the newest version of your product or service or system to take advantage of what you learn is a recipe for failure of the business. So, as Edison said, "I haven't failed -- I've succeeded in finding a thousand ways this won't work." Failure isn't failure but learning to succeed.

Last updated Sep 10 at 10:19 PM

<span style="color: rgba(0, 0, 0, 0.75);">Research, learn, adapt. When you're building something from scratch, it's inevitable make some mistakes. Being flexible and able to adapt to the unexpected will help you stay focused on what matters, rather than allowing yourself to get derailed over the little things.</span>

Last updated May 12 at 03:38 PM
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