Getting Started

[phoenixb90]

Hey everyone, I'm a 20 year old college student who recently decided to start a business. The problem is, I'm having trouble deciding what type of business to start. I'm curious what type of factors you and others look for when starting a business. Why did you or would you start your own business? Any advice or insight would be appreciated and helpful for me to make my own decision.

[Foostar]

Hey everyone, I'm a 20 year old college student who recently decided to start a business. The problem is, I'm having trouble deciding what type of business to start. I'm curious what type of factors you and others look for when starting a business. Why did you or would you start your own business? Any advice or insight would be appreciated and helpful for me to make my own decision.

Hey phoenixb90, my name is Aaron Foster. I'm too a 19 year old college student who started a business right out of college for speculative and charismatic reasons. The business I started out of high school was a Junk Hauling Service because it was easy to setup and very mobile. This basis of my business wasn't for me to create a business that could last me a lifetime, but a business that I can learn from and use the core principles that I learned from my business to build bigger, better, and more desirable companies. One advice that I would give to you is to assess and observe the business you are trying to get into. For example, you should be looking at the startup costs, observation of other companies in your industry, the amount of money needed to run the business, and what kind future you see in the new business. This is necessary in a business so that you can accomplish goals and objectives. Most importantly, the thing that all new business's need is TIME. A business owner should be putting in 40-60+ hours a week to run a successful business.

Once again, this is just my advice on building a new business. No disrespect towards you or your future endeavors.

If you have any questions regarding my post, just give me a private message and I will most certainly give you some feed back!

CHEERS!

[phoenixb90]

Thanks for the help! I will pm you because I do have another question for you

[napoleonwill]

Foosters advice was great. Think about niche services that your community needs. There is always a lit of people needing said sevice and you can help them out. You dont need much money to start a business. Having less money actually forces you to think harder. Thr best way to do it is start with no money at all.

[flintheart]

Agree. The first thing that you need to decide is your niche market. Choose a niche that interest you and you think you can give your 100% to it. A business that doesn't attract you can't go well as you will get bored or tired after sometime. So think about your niche and then research on it to know the basic requirements of it. This will include the investment required, and other things. Make you to have a good business plan. You can discuss this with the pioneers to that business or searching and communicating or internet as its also a good way to gain knowledge.

Also if you are short of investment then you can consider going for franchise as it's also a nice option to get some money for future investment.
PM me if you have any query.

[The ENTREPRENEUR]

I am currently doing the same thing, find a product that caters to the niche you are already in... aka college kids. Invent or improve a product you use daily or pretty often, patent, market it, make millions....

[Entrepreneur88]

I personally would start at looking at what your passionate or enthusiastic about. When you are really committed to an idea you will have no problem putting in the extra time and energy to make it work each and every day. Grant-it you need a good niche and there MUST be some type of market already in exsitance to add to your bottom line; not to say that no market means no money, just that its much more work to get people to buy into at first without a GREAT slaes pich.
Do your research and look at what your abilities are, what resources you have or could get over the next year or so.