 How can a teenager start her own business? |
I'm thinking along the lines of potted plants, but how would I handle the money transactions if it's online or by mail?
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ItsMe | At 23 yrs old, Am I crazy for wanting to quit my secure job and become an entrepreneur? Tell me what you think |
I'll be 23 in May, graduated with a finance degree, I have a job at a hedge fund backed by a billionaire business man (first job been here 6 mos). I dread the job, I do nothing all day, and when I do have work it's pure data entry. If ever promoted, I'll just be doing more data entry. Everyone says it's a great opportunity but I see it holding me back. The job makes me feel flat out worthless. I'm very creative, innovative, and driven. And this job uses none of those talents. I want to wake up and enjoy what I do, not dread the day ahead of me.
I've created a product and I want to start producing it and sell it. I feel with my creativity, drive to be successful, business smarts, and drive to pursue what makes me happy, I could make something happen. About to be 23, no debt, good sized trust fund, no gf or kids, I can quit in June, move back to Austin with my parents (free rent). Some people think I would be crazy to quit and pursue this. Any Advice? Suggestions? What do you think?
Additional Details
Thanks for all the great answers and advice!!! I think a lot of people are quick to judge and call you crazy because they are envious of those who want to leave the "security" of a 9 to 5 and pursue what really makes them happy in life. This corporate world is a joke. I have every reason to follow my dreams, I'm young, driven, creative, and have no real obligations, so the time is now. I have been and will continue to do a lot of research and reading to educate myself as much as possible before pursing my product and business. Thanks again for your motivation and encouragement!!! |
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Momof4-5 including my husband
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There are so many different home based business to start up. With what you have to work with, I suggest starting your own home based business. Things from Child Daycare Centers, Plumbing, scrapbooking, Telecommunications, fishing charters, Candle Making, Travel agents, Tax Preperations, Health etc etc etc. You can turn just about any type of business into a business that you run out of your home. Their are many different types of home based businesses. You can work in or out of your home.
Most home based business cost under $500 to start. So, if I were you, I'd start a home based business. It doesn't mean your stuck at home. You have options to work in or out of your home like I said. I think your on the right track. The income opportunity in business is incredible.
When starting a business, their is no money at first. You have to build it up. No matter what business you get involved in. The more effort you put into it and how hard your willing to work it, will depend on when you start making a sufficient amount of income. The more you put into it, the more you will get out of it. Some businesses are hard manual labor, while others are mainly phone and computer work.
In home based businesses, depending on which one you get involved in, it usually takes about 2 to 4 weeks to start making an average income. 4 to 6 weeks to increase that.
and 3 to 6 months to be self sufficient. If you put the time and effort into it. Most people start their business on the side if they don't have a cushion to live on while they build their business. This will allow you to build your business much quicker. But most people have full time jobs and run their business on the side. When their business reaches the income level they desire, they put their normal jobs down and continue to build their business with or without help. That part depends on you. This is what I would recommend you do. Start it part time and when you reach the level of income you desire, then put it down and take off with it.
Not knowing what you like to do, I'm not sure who to refer you over to. I can tell you what my husband and I have for the past 6 years and refer you over to my blog that I created on Home Based Businesses on my 360 page. Your more then welcome to go and take a look for some more ideas. We have built our home based business and it supports our entire family of 6 (we have 4 children ages 10, 6, 3 and 1)
We got involved in the Telecommunications industry, like I said a little over 6 years ago. We picked this one because the income opportunity is just incredible, as it is in most home based businesses. But in this, it seemed more practical. We partnered up with a 15 year old world wide company that offers services that people use every day and pay for anyway. Services like Local and Long distance telephone services, Internet, digital, video, VOIP, Satallite TV, and all the major cellular phone providers as well.
How many people do you know, or know of around the world that uses one or more of these services? I think just about everyone has one or more of these services. You save people money on services that they are already using and paying for, and offer them services that they don't have, but would like to. Every single month these people pay these bills that they are going to every month, you make a percentage. You get paid every single month for these services over and over again. The amount of money you can make in this business is just incredible.
If you'd like more information, your more then welcome to email me at anytime.
Tiffany |
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Schifreen
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Do both. For the next 6 months, develop and market the product in your spare time, but stick with the day job as a way of earning money. If, after 6 months, you see potential, leave the day job. |
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m p
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Dear P7- my 23 yr old friend!
What you have written has been a problem of every person with motivation ever since industrialisation had begun.
many may say its crazy to leave such a secure job at 23. I would say it is in fact the right age for "experimenting".
You have no gf,kids and no debt- plus you have a product and you know how to sell it. Many people would envy you now, since rarely people who want to start something don't have privileges like yours. So I suggest give it a try, not just to experiment but to make it a huge success.
As for business advice I dont know if you need it, but if you do, please clarify it in your question. |
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Unstoppable Dreams
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An entrepreneur is something you are. Being an entrepreneur is being creative in your own right. Many people interpret an entrepreneur as someone who goes out on a whim. That is not entirely true. Yes, an entrepreneur assumes risk. However most entrepreneurs are prepared for most business challenges. The challenges and decisions of which they are not prepared, they are quick to find the solution and implement.
I would encourage you to do what you desire. I would also suggest that you be collective in your thoughts and do due diligence in all your business ventures. You can find great resources and assistance at:
http://www.sba.gov
http://www.score.org
http://www.entrepreneur.com
BEST WISHES! |
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The Jesus
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Well, if you are going to do something crazy like quit your job and start your own company, do it when you are young! Worst case scenario? You dump a lot of money into this product and it doesn't work out. Then you can just get another data entry/finance job and pay off the debt you created - but at least you tried!! Nobody ever made it big by playing it safe, I say go for it!
That being said, you should do A LOT of research in the meantime while you still have a job and try to work out the details of exactly how much this is going to cost you and where to get the money for it. |
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Michael R
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I think you should create a solid business plan. Go to http://www.sba.gov and write a good business plan. You will have to know what your selling, how your selling, who your competition is, how your marketing, your expected sales, your target audience, apply for an EIN number with the IRS, are you going to have a website, company logo, slogan, name, ect. I would do all the research and writing of a business plan you can while your employed, so that when you do quit you will have a solid path to follow, hopefully to success.
While I am in school and working at a secure job below is my business I just started. It is helping me learn marketing techniques, how to create a website, search engine optimization (seo), meet business owners/references, and make some extra cash.
Good luck. |
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InnerVeda
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I came across your question and had to answer it as I have been there and done that. I had a good education, a stable corporate career of 10 + years, was at senior Director level position, a job that paid my bills BUT what it lacked was that it did not hold my interest any more and I wasn't growing and learning as a person, which was so important to me. So in my heart I knew it was time to move - what towards? Had no idea.
What made the decision tougher for me was that I was 10 years older than you are with no one to support me financially or otherwise. No back up plan if I failed, so to speak. Many thought I was crazy, heck even I did for a bit but I knew in my heart this was my chance and I Had to do it or I never will. The thought of switching jobs in that quest for eternal job satisfaction I knew was not my solution.
After figuring what I wanted to do for the rest of my life, it was time to take the necessary steps to put things into action. Which ofcourse I did and its been 7 years since. I have my own business and I have not looked back since or regretted my decision. Also just to let you know my line of work today is very different from what I went to school for and what my corporate career was about in my 20s.
The risk is great, no doubt about it. But rewards are immeasurable. Your words "creative, innovative and drive" are what had me going as well. What I also had was a belief in self and courage. I think this kind of step takes that. We all want to cling onto security and that keep us from learning in life, moving ahead and growing. So what if along the way you will make mistakes, we learn from that and keep improving and moving ahead.
I think you have all the ingredients in "you" to make the switch. You do need a good business plan and other logistics worked out for success in your business. So do pay attention to that.
Don't worry too much about what future will bring. If you will succeed or fail. Because sometime that "insecurity" or "fear" will keep you from leaping ahead. And also don't worry if you don't have ALL the answers ahead of time. It's a learning process.
May be you can even do the groundwork and start your business alongside your job. Make use of your free time their that way. And once things start showing you a more concrete promise, make the jump then.
Doing something you love for a living will be "one" of your long lasting key to happiness. Have to tell you its an envious position to be in :).
Email me directly if you need more guidance on how to go about this.
Good luck and much success! |
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Barry auh2o
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You'd be crazy to waste the next 40 some years of your life doing something you don't like. Don't waste yourlife being a corporate clone.
When the end of the work day comes around, do you want to be saying "Thank God" or, "What? Already!"
If you believe in yourself, follow your dreams. |
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Val
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No the term is smart not crazy, I did the same thing at 17 and never looked back. Email if you would like to hear my story and I do have a piece of advice.
Sincerely,
Val
fortunehtm@hotmail.com |
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Bethany
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You're young, you have nobody relying on you, and you have motivation. Go for it! Don't waste life doing something you hate. You only have one life, and it's short, so take chances and do what makes you happy.
Don't let what others think tie you to a job you hate. You sound like you've got a good head on your shoulders. |
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citymoose
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You are young enough that if it doesn't work, you can still rebound. If you don't do it, you'll always wonder "what if?". Continue to way the risks and make your choice. The idea of doing both is optimum if that works because you don't loose anything while exploring your options. If the entrepreneurial efforts don't work, you will still have your job. |
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raystar
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I think the most successful people take risk. I believe the younger you start to pursue, try out what works for you, with a sensible mind the quicker you find out how to make yourself better and the better off you are in the long run. Don' get me wrong I think that anyone can find success, at any age.
I guess if I had this senario I would save as much money as possible, living with my parents. All that money save to invest in future living to buy a house, or retail office to start my business.
There is all that time to save that money and use to invest in you dreams so when u move out of their house you are the owner of your own new house or business. Put the money you save in a high interest CD for 5 yrs use it to start your business. No gf or real responsibly. Who cares if you don't. Right now focus on making your credit Stellar so you don't need anyones help to buy anything later. Put your idea s in writing, copywrite your ideas and get a good lawyer to walk you through and give you advice. Then reaserch and read as much as you can about what you are creating what and who you need to make it happen and it always helps to researcj how all the Billionaires in life made it. Go to Forbes billionaires.
I just think that too many people out their are unhappy in their own job status but are too afraid to take risk or are at the age where they have too much too lose or are just fine with their current situation and that is it. You are young enough, have a finance degree, and seem smart enough what are you waiting for! hope you found this helpful. |
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Rosyroi
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First of all ask those who did pursue their dreams. Interview several people. They can give you pointers and help you with ideas how to start. these folk can also be your mentors. Having a Mentor to help you is a great asset. Getting a network of those who are in the business of helping each other helps. Reading up on your subject and others is helpful. Also learn about patent. Along the way you would need to find out how much money you would need to get your invention off the ground. Marketing can be very expensive before you even get startted selling your product. Save at least the minimum amount needed before quiting your boring job. Hope this helps in some small way. |
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