If you still clueless of what or where you want to invest, if money is not the problem, is the things that interest you most that bring joy to you. Because if you are passionate in what you are dealing with, it will succeed. Fear is common, but it shouldn't stop you from achieving what you want and do.
Without mentioning on what kind of business you really are planning to pursue on. I can give you a few tips though.
So to start a business, you first really need to have a capital, a starting amount for your business. And this applies to both offline and online businesses.
Another important matter would be budgeting. It is very important in a business to actually know how to handle money. Now, the usual computation will always be "Cash - Expenses = Capital, Income, or Excess Cash;" but the most advisable computation would be "Cash - Savings - Expenses = Capital, Income, or Excess Cash." You see, the good thing about the second computation is the existence of your "Savings" which can be used as either an extra income or for payment of your business liabilities and/or expenses.
Next one would be the products that you are planning to sell. Whether it be offline or online business, we all know that the best products to sell would be those trendy and new products that you surely know will eventually boom in a short span of time. However, there is a bit of a difference when it comes to offline businesses because this type of business actually requires you to have your own location on where to actually have this business happen but before even choosing the right place you still have to check on whether such place is accessible for your desired customers. And once you have that location, you then have to think again if your desired business will be demandable in such location. And if not, you either stay there and think of another business or go and look for another location which you think could be great for your business.
The business will depend if you want to start it online or offline. You have to identify a market gap so that when you start a business, you are sure you will have people come to you to buy what you sell.
You need enough money to invest in the business. You also need a trusted supplier who will always bring products to you when your stock is over. You need to check the climate conditions and if they might likely affect your business.
You can choose to sell products for men, women, children or everyone in general.
You can do drop shipping, aleanna0926. Try to find a niche which you find interesting about or is a trending item for your online store. Through Shopify you're basically ready to go since they have a pre-made template for your website and from there you can add products which you may drop ship from AliExpress, EBay or Amazon. Finding the perfect niche and group of people who are really into your products can help you grow your business even faster.
It is great that you are thinking of starting a business at your age. If you are afraid you can't handle a business well, don't worry, all businessmen had their worries before they succeed in the business world. You'll be fine. I can give you some tips:
1.) What are the current trends?
You must consider observing the market and ask yourself. What are the hot items today? If I sell or resell these, will anyone buy?"
You should know your budget or purchase of products.
Where will you sell your products? Physical store or Online Shop. Online shops are the trendiest nowadays. People can easily browse your shop's page and pick their item to buy and receive it a day or two after.
It's not a business if you don't spend money. You must consider budget for your operating expenses and other expenses like packaging of your products, shipping, transportation and others.
A well-promoted business is a business that becomes successful. You should think of ways on how to reach the public or much bigger audience. From them, there maybe some potential buyer.
Do not overprice products. The buyers can compare prices with your competitors. Be wise.
- Skills to work for someone or any companies.
- Products to sell.
Other than that you need to have a website to present what about your business to your customers and start selling your products there. If you don't have a website, you can use social media to sell but this requires you have a good knowledge about social network marketing to find potential customers.
That is great!
First think on what do like or where are you good at? Passion is the most important thing that you should have before you open any business. Make sure you really love and willing to sacrifice for it.
Secondly, set your mind and know yourself. It will be easy for you to handle any challenges in opening a business.
Third, have a thorough research about the product, target market, and costs.
I'm sorry, I know you a suggestion on what will be a good product. The truth is only you can answer that. Remember this just enjoy and be passionate about it and the answer to all of your questions will follows.
@aleanna0926 it will depend on what type of business you want to start. Since you mention reselling, here are some points you need to take note in order to start a reselling business:
1. Type of reseller business.
2. Your knowledge of that particular type of reseller business.
3. Your market.
4. Your competitors.
5. The feasibility.
Meanwhile, you can try to enroll a course or attend some pieces of training related to reselling. Also, there are a bunch of available information and e-books available online that you can study. good luck to you.
Hello. Just like you I also want to start a business of my own. At present I am trying to gather tips as to how I can do business online since I prefer a similar kind of business. One thing I can share with you is that you choose a business or line that interests you a lot and you love doing. Like for me, I like baking, so I might start advertising my baked goodies via my Facebook account (it's free anyway ). I can spend a lot of time doing it, creating new flavors every now and then and sharing it with the friends and co-workers (aside from my family who loves my baked goodies too). So whether I succeed in doing it online or just offline, it doesn't matter, because what's important is I love doing it and I am willing to always improve my skills in baking. Good luck!
Starting a business at a very young age will teach you a lot about being responsible and it's good that you are into it. Well they say that running a business is not for everyone, but how will you know if you are for it if you will not try for once.
The first thing you should do is gather your resources, ensure that you have enough funds to run your business. Try to check whether you have a good location for your business. Always gather information from your family and friends, try to brainstorm with them, answering all the "what if?" and always have a back-up plan for it.
Being a young entrepreneur will not be easy, ready yourself physically, mentally, financially and spiritually. Educate yourself by attending seminars related to your business style, meet-up with business minded people and be open minded by the ideas being presented to you.
Lastly, pray for it, let the will of God guide you in every decision you will make, let God manage your finances and I assure He will provide you with everything.
Many people believe starting a business is a mysterious process. They know they want to start a business, but they don't know the first steps to take. If you want to start your own business first you need to ask your self where your good at? Can you really handle a business on your own? Do you need to shell out money before you can do your business? How and when your going to start? what kind of business is good to work on? A lot of young people start a business without considering those factors. So before we do action to what we want to achieve have those questions answered first. Those answer will lead you to a good way on starting your own business.
Starting your own business as young as possible is really good but a lot works needs to be done and learn.
I would assume you have an idea of what you wanted to build on, since you mentioned reselling, I gather you'll be venturing online selling. Before anything else, putting up a business is like raising a kid. You have to nurture and help the kid grow and manage on its own later on with limited supervision. That's business. And like raising a kid, it will take your time and resources while building it. So before you go through that process, make sure you have enough dedication and passion to pursue it till it picks up and generate income. And then manage it till it can sustain itself and grow. You need to be decided and firm when starting up a business because even though you'll start it small, time and money is of essence. You should be completely sure about it. Now that you have established that within yourself, the next step is your passion. Assess yourself what you love doing. And ask yourself if you can turn something about what you're passionate about. When your answer is yes, then build from there and look at others who do business that is similar in what you'd like to do. Alternatively, if you can't think of what you're passionate about, try searching for something that's fast-moving in selling globally and locally. then go from there and look for best suppliers in terms of pricing and quality.
I hope this helps a little bit. Cheers and goodluck.
If you are a blogger and having a blog with a decent traffic then resell web hosting packages from big companies can give you big profits.
If you know about programming or writing web content then go with upwork or freelancer sites, they can hire you for web projects.
This all depends the direction you would like to go there are so many options when starting a business. You can invest with another big company as a part of there team. You can purchase items, refurbish, or up fit to be able to sell. It is important to create a direction, and it would not hurt to make a five to ten year plan. If your business turns profit and continues after five years you know you have something long lasting, keep it going. Having a plan of what you are wanting to invest is important too. There is always the option to gain share holders to help you if you are planning to open a large company. Good luck to you and I hope you can find the right direction to go when investing.
You didn't state whether you have enough funds to start up, If you are financially okay then you can start by opening a website and a blog if you are too busy with other daily targets, you can pay freelancers to help you out with it and they will help you generate traffics to your blog then you could get approved by Google AdSense then tne money starts to generate.
If you don't have that much funds to start and you are in search for money making avenues you can go start selling banners and AdSense on Google or some just by clicking on it you can generate it.
There is the freelancers forum where you get to write or design on blogs/forums /websites and get paid through earning of points which then extends to the earnings at the portal, apart from this method one thing I like is the fact that you can sell your works or get clients through advertising yourself there so this is double opportunities. I want you to try this website (forum wheel, postloop) in this sites you get to earn money through commenting on blogs and forums and you tend to have points too, but you will go through some processes before you are approved.
The ball is in ylur court, it is left for you to decide which one you want, when doing online business you have to work with paitence, money does not come that way easily. You have to work hard and not relent even though you are frustrated, you will have to put efforts in it, at the end you will reap enough earnings(just a friendly advice).
For you to open a business, you need to know these things.
First is doing something you like, when opening a business the first thing for me that you need to consider is if you love the kind of business you want to open. For example, you love makeup and you know allot about it, I suggest that open a business that focuses on makeup, because if you know what is your selling you can easy sell it.
Second is finishing what you started, if you start selling makeup just continue selling it even if the sales of your product is weak, always remember that having a business don't guarantee you a standard income, it is true that many people became rich because of their business, but they don't become rich in just a short period of time. Many successful business man or women today start from zero, so they work hard for them to be in that place of success.
Third is you need to be there running your business 24/7 as possible. Having a business is not easy, you need to allot most of your time running it. You need to observe how your business is running, you need to be hand-on every simple time, because is you just give it to your staff it will hard for you to know is they doing the right thing and if they doing their job right. It doesn't mean that you don't trust your staff you are just protecting your business.
The last tip that I can share with you is you need to introduce your business to the public, there are many ways for you to introduce your business. One of the best ways to introduce your business to the public is by using the internet (social media) many of us have a social media account and for me if you introduce your business using it many people will notice it, share it and try it.
Starting a business is an interesting venture for someone who wants to improve their financial status. In my opinion, before we go to choosing the products or merchandise, whether you want a physical or online store or combination of both and before we even conceptualize the kind if business we want to put up, we first need to consider what type of personality we have with respect to business. For me, there are three types: Passion-driven , Business-driven , and combination of both which I would like to call PasBiz-Driven. We need to determine where we belong among these types.
1. Passion-driven - people who have passion over a certain field of interest (e.g., music, sports, luxury brand, etc.) but have limited knowledge in how business works.
2. Business-driven - people who are naturally business minded. Those who have the ability to sell almost or anything they can get their hands on.
3. PasBiz-driven - you can guess what it means, and you're probably right. They are those who fall somewhere between the first two types.
Being able to know where you fall among these, will give and solid starting point in business, and this will help you sustain and achieve your business goal in the future.