Young or New Entrepreneur? What are your top 3 most pressing problems or questions?

**evolvingentrepreneur** · 01-06-2010 03:58 PM

As a 31 year old entrepreneur that has started 9 companies over the past 7 years, I have accumulated a solid foundation of business knowledge, skill and wisdom.

That said, I'm always excited to share what I know with those less experienced or younger than me because I've been where they have been.

So, if you are a young or new entrepreneur, what are your top 3 most pressing problems or questions that have you stuck, confused, frustrated, or otherwise paralyzed or blocked?

In other words, what is keeping you in a state of inaction, procrastination, or just ineffective action? Or, what is holding you back from getting what you want right now?

I've been there so I know how painful it can be to not know what to do and to fear that what you do decide to do will result in catastrophic failure.

Let me know what ails you and perhaps I, and the other intelligent and experienced senior members on this forum, can help you get to the next step.

**Lukas** · 01-06-2010 04:39 PM

My three problems (this is my first business) are:

Paying people online, I am 14, and I am in Canada, so I can't link a debit card, nor would my parents assist me with this I think, though I haven't really approached them. Thinking of approaching them makes me nervous.

Advertising, no funds, so all advertising has to be free.

It is also hard to find Djs within Canada (The genre I am looking for) so i have to go to people I have never met in Europe, which can be hard to find as well.

~Lukas

**ndawson293** · 01-06-2010 06:16 PM

Originally Posted by Lukas

My three problems (this is my first business) are:

Paying people online, I am 14, and I am in Canada, so I can't link a debit card, nor would my parents assist me with this I think, though I haven't really approached them. Thinking of approaching them makes me nervous.

Advertising, no funds, so all advertising has to be free.

It is also hard to find Djs within Canada (The genre I am looking for) so i have to go to people I have never met in Europe, which can be hard to find as well.

~Lukas

Use PayPal, I have been using it since I was your age. It will allow you to send/receive money online, the problem I see for you is getting the funds arranged in the first place. Have you tried to get a debit card, once again, at 14 Barclays gave me a debit card that was possible to use online, I live in the UK though so maybe in Canada, banks don't work the same.

**Lukas** · 01-06-2010 07:59 PM

Originally Posted by ndawson293

Use PayPal, I have been using it since I was your age. It will allow you to send/receive money online, the problem I see for you is getting the funds arranged in the first place. Have you tried to get a debit card, once again, at 14 Barclays gave me a debit card that was possible to use online, I live in the UK though so maybe in Canada, banks don't work the same.

I do have paypal, which I use to receive funds, but my business also involves paying people, which is a real hassle. I do have a debit card, though here in canada, they are not able to be hooked up to paypal.

**broyaz** · 01-06-2010 08:01 PM

Throw up some network ads (Adsense) to your site and hook that up to your PayPal account. Only spend what you make.

**Lukas** · 01-06-2010 08:07 PM

Originally Posted by broyaz

Throw up some network ads (Adsense) to your site and hook that up to your PayPal account. Only spend what you make.

I would, but, to sign up for Adsense you have to be 18, and Google does do checks on that.

**ikjosh** · 01-06-2010 09:24 PM

Originally Posted by broyaz

Throw up some network ads (Adsense) to your site and hook that up to your PayPal account. Only spend what you make.

He's not going to make much money off that

You should approach your parents - I am certain they'd help you in some way. Don't be nervous, you can do it.

**Lukas** · 01-06-2010 09:31 PM

Originally Posted by ikjosh

He's not going to make much money off that

You should approach your parents - I am certain they'd help you in some way. Don't be nervous, you can do it.

My parents recently split, and my mom doesn't have much money, and she is going to school.

I may ask my dad next time I go to his house, after he gets back from his trip. I just don't know exactly what to do. He is a stock broker, and he has started a few businesses himself, and helped start others, so he does know some stuff.

Should I sit down with him, show him my site, and what I am doing, then ask him about the Adsense (I can work under his name on it), as well as paypal funds - for example, I pay him cash, and he uses his Paypal? Or what?

Sorry, I'm kind of lost here.

**skyhigh007** · 01-07-2010 09:58 AM

1.Do you consider a person who is helping out his friend's startup company from the beginning of filing trade marks to all the way to selling the actual product as an entrepreneur? I did everything except the idea, design, and money.

2. How do you make better decisions when you have little information and no previous experiences ?

3. How do you make more sales when your target audience is not accepting your product ?

Thanks

**mtnjkwe** · 01-07-2010 12:36 PM

My answer to
2. No decision is actually the best! The preferable decision is the one whose pros outweigh the cons !
3. -Survey your audience and find out what is wrong
-Restructure your marketing
-Change audience
-Rebrand and redesign your product.
1. Yes , I'll consider that person as an entrepreneur!

Hope I helped!

**skyhigh007** · 01-07-2010 12:47 PM

Thanks for the answers! What should I put on my resume ? Administrative Assistant ?

**killer2021** · 01-09-2010 10:54 PM

number one problem I consistently have is MARKETING.

I know my product is significantly better than the competition(cheaper and more features), however, if the consumers don't know who I am and how my product can help them then it doesn't matter how great my product is!

My product replaces very expensive textbooks (100-150$) and prep books and combines both into one 10$ subscription site. However, people are still asking, "what is the best textbook and what is the best prep book?" instead of "What is the best online course for...?" Then they end up spending 150$+ for something I can offer for only 10$. Aww the irony of it all.

**EC44** · 01-11-2010 06:32 PM

Originally Posted by Lukas

I do have paypal, which I use to receive funds, but my business also involves paying people, which is a real hassle. I do have a debit card, though here in canada, they are not able to be hooked up to paypal.

That's a lie; I currently send and receive 1000's to and from paypal via my bank account. I am also located in Canada.

**jake_russell** · 01-12-2010 09:12 AM

It may be a lie or it may have been that he misunderstands the rules. There is no reason to come in here berating someone and offering no advice. Maybe you meant no harm but in the business world, especiall startups, your word is sometimes all you have so be careful when you call someone a liar.

I say go to your dad with all of your thoughts on paper and a plan for where you want the business to go. He will probably ask you what he can do. Have a list. Be prepared to say... In order to grow this business I need this, this, and this. Most likely, if you have a good idea and plan you will get the help you need. Best of luck

**evolvingentrepreneur** · 01-12-2010 09:55 AM

Originally Posted by skyhigh007

1.Do you consider a person who is helping out his friend's startup company from the beginning of filing trade marks to all the way to selling the actual product as an entrepreneur? I did everything except the idea, design, and money.

2. How do you make better decisions when you have little information and no previous experiences ?

3. How do you make more sales when your target audience is not accepting your product ?

Thanks

Answers:

1. This will sound harsh...but who cares. Don't get obsessed with titles or labels because they are inherently limiting. Focus on the result you want.

2. Ask 3-5 other people that have already done what you want to do...you might even find a mentor this way. Most people love to share their experiences and talk about themselves. Find or create a mastermind group comprised of others with similar goals and interests. This is critical.

3. Check your product or your positioning. Common mistake entrepreneurs make: thinking their product is the best thing since sliced bread. Doesn't matter what you think. The market votes with your wallet. Is there a possibility your product has no market? If not, check your message. Study direct marketing. Buy Dan Kennedy's Ultimate Sales Letter and Ultimate Marketing Plan.