I want to start a small company and gradually get bigger?

Question

any tips on how to do this-I'm in HS and want to make some money. But, more than money, I want to start something, like a product or service that people would buy or use. Any suggestions?? thanx guys

Answer 1

I like your question ,as it show you do understand the smaller you start the bigger you get ... i personally know a multi belionair who started his career with a shoe lace work shop regarding that he was a  construction engineering collage graduate ... now he has companies and factories in almost any field you can think of all over the world...

i  myselfe am taking small steps on the same direction on the other side of the planet in Egypt so you can consider my answer more of a review of my owen plans rather than a fiction based advice

1- believe in your selfe  ( and get anybody who gives you negative massages like ,you cant do it ,who do you think you are ,or your plans are silly out of your mind )

2-start redescovering your abilities .. on a sheet of paper write dowen your destinctive skills and your education back ground and your personal qualities and your experiences  ... these are your tools to build a new life so see what is missing to give you a strong start like for example you should read about accounting and taxation , marketing,management,team work and human resources,advertising, and most of all you should read about crisess management and finally read and ask about sucsess stories and concentrate on there planing strategies and the deficulties thy faced and how thy managed to over come it

ok ... now that your tools are ready ..  pick up a field you like >>> dont read about it and start now !!!!!!!!!

wait !!!

3-first you have to work for some one else in the same field even if you do have the money to start it on your owen so you make sure when you start it on your owen you can avoid any unwanted losses or extra expenses you could have simply avoided if you had the practical experience you have to take a closer practical look at it and start analysis of every detail and know whats good and whats bad about it from inside

..for at least six month you well use the 3 magical " L"  words in this field ( Look , Listen ,and Learn)  (that means you never ever speak about your intention of working in the same field on your owen it would be more fun if you consider your selfe an undercover agent but be honest and obediant to any orders no matter how silly or stupid because what might seam to be silly to you now might be very usefull in the future when you are boss  loool)  build up your owen vision and guess what by now you well have had a range of friends in the field and not only you well have an idea about its paper work but also you must have a vision on how to improve it to save and follow up your cash flow better and avoid any unpleasent event of someone stealing your money with out you knowing about it..

4- now that you are done ... there is a golden role NEVER try to destroy the people who helped you build up your career by taking there customers . or by acting stupid in a crises believe me it well by time turn around and come back at you ..i have seen it happen before

5- think of the proper place to start your work as you can do the very same work with different outcome accourding to where and when you do it

6- always be honest to make clean money and keep regular customers

7- always have a stand by plan for possible trubles because it well save you money and time wasted on an unwanted surprise

finally i wish you all the best of luck and for myselfe as well !!!

Answer 2

1) Read, Read, Read! Whatever you do, start learning as much as you can about anything with business.

2) Business Plan- You can download these easily. Fed Ex reviews theirs every January. When I work with someone, I ask to see their business plan; separates the men from the boys, if you would.

3) Make a list of everything you can do & everything you can't.

4) Do what you love, the money will follow.

Answer 3

Start something New or improve something

A) Business- whatever motivates you and yes the money will follow, (learn about corporations, LLC and varies entity's). Do a test run and see how you product is received. Also know your market (a saturated market can either get you bought out by he big boys) if you have a market base of customers.

B) Learn the Velocity of money, rule 72, passive investments (Real Estate- great tax advantages) also never hold Real Estate in a Corporation (taxes).

C) Know purchase other investments

Services that can work:

Janitorial Franchise- Low cost but quick to recover investment

Car Detailing- Low cost but Medium profitability

Answer 4

You need to do a niche research.

Join forums and online groups to see what

people want and need.

But most importanly is NEED.  People wont spend a dime to prevent

a disease but you brake a leg to cure it.

That should be a good tip for you.