By Naomi Johnson at lifebasedbusiness.net
If you’ve never opened your own business, you’re in for a real treat. Entrepreneurship is a great idea at any age, but it does take work to get up and running.
Start with a strong educational background.
Even if you already finished college, going back to school for an advanced degree is a smart idea for young entrepreneurs. The procedures of an MBA degree aren’t that different from earning your bachelor’s, but you’ll engage in stricter coursework where you’ll learn about strategy, management, leadership, business, and more.
Plan ahead.
Launching any type of new business takes planning, and lots of it. A few things that you can’t skip out on here include writing your business plan and doing market research. You also want to take care of getting your official business structure and opening a business bank account so that you can avoid commingling your funds. As a business owner, you’ll want to pay yourself from your business account. If you mix your money and have established an LLC, you may negate any liability protection that the LLC structure offers.
Master your designs.
When your business revolves around custom products, then you need the right design software to help you create images that best showcase your capabilities. Consider using 3-D design software. Whether this is a good fit or not depends on your needs. If it’s best to show your products in new lighting or with different textures, 3-D software is invaluable. It also allows you to visualize your products with all types of materials so that your customers can see an accurate depiction of what you do.
Launch a user-friendly website.
The world runs online, and your website matters more than you might think. Partner with a reputable digital agency like Pro104 INC and you’ll get a website that’s built based on your specifications and design to attract the right client at the right time. They’ll get to know you, your industry, and what you need from your site. Remember, your site must be quick, sleek, full of usable content, and, importantly, optimized for mobile users.
Build your support network.
As a young entrepreneur, your network should consist of people that can guide you and mentor you through your journey. To find the right business mentor, you can start with your industry. You might also look at mentorships available for women (4Word is a great organization) or ones reserved for minorities.
Be creative when it comes to networking. If you've lost touch with old friends and acquaintances, you can use an online portal to look for fellow high school graduates from Indianapolis and the surrounding area. Simply type in the person’s name, graduation date, and school, and you'll get quick results with options to reach out to long-ago classmates.
Surround yourself with the right people.
Your support network is crucial, but you also have to build your business with the right people. You’ll also want to make sure that you’re comfortable letting people go. This is easier said than done, however, and the BetterUp blog explains that poor job performance, not showing up to work, lying, and misconduct are all valid reasons for severing a working relationship.
Starting a new company isn’t always easy. Everyone has struggles, and everyone has successes and failures. But when you start strong with the right education, planning, a great website, detailed designs, and other stepping stones, you put yourself on the path toward success. While there is no guarantee that your first endeavor will be your best or last, you owe it to yourself to see just how far you can go as a young entrepreneur.
