I'm 21 years old and I want to start a small business first. Any ideas?

Question

I'm sick and tired of working for other people's benefits. Any ideas on what kind of business with a low profit? any suggestions?

I need some serious and matured answers please. thanks in advance.

Answer 1

Hey,

being that you are 21 years old, you've got a headstart in the game! meaning you've got TIME on your side to build your wealth and stay out of the rat race. now there are a lot of busnesses to choose from, and the thing is you have to first figure out which is the one you'll be best able to leverage your time with, make the best return on your initial investment and have it continually grow your income.

As for where to start: by learning and researching. Go to your local library and access books from the business section. Attend business seminars, go and evaluate business plans, and create a business plan/goal statement for yourself, have a plan of action. map it out first, then move on it. Also, if you can identify a business person who can be a mentor to you, so tht you can learn to duplicate his/her efforts, that is an immense way to learn.

Have you read Robert Kiyosaki's Rich Dad, Poor Dad?
I'm a business owner, and this book has definitely helped boost my business.

I can let you know about trainings as well, if you'd like. feel free to email me back. ([e-mail])

Good luck and Congratulations on making a smart move in venturing into making money for yourself and not someone else.

Answer 2

By researching the prospect of starting your own business -- what it entails, what you need to know, helpful hints, etc -- you'll feel better prepared to take that plunge.

I found some book titles that are relevant to your specific question:

* Generation, Inc: The 100 Best Businesses for Young Entrepreneurs by Elina Furman, Leah Furman
* The Young Entrepreneur's Guide to Starting and Running a Business (Completely Revised and Updated) by Steve Mariotti
* The Young Entrepreneur's Edge: Using Your Ambition, Independence, and Youth to Launch a Successful Business (Princeton Review Series) by Jennifer Kushell
* Upstart Start-Ups!: How 34 Young Entrepreneurs Overcame Youth, Inexperience, and Lack of Money to Create Thriving Businesses by Ron Lieber

I also posted some article links in the source box.

Hope that helps! I wish you much success & happiness in all your ventures!

Answer 3

First and foremost, figure out what you are passionate about. To be successful in anything, I believe you need to enjoy it and be passionate. Congratulations to you for wanting to start something for yourself at your age. That's really great...start now and with consistent work, you can have incredible success and results long term.

Working from home can be much less expensive than trying to start a retail business or something like that. Do your homework. There are a lot of scams out there, but are also a lot of legitimate businesses. I work from home to allow me to be a stay at home mom. It takes dedication, motivation, consistent and persistent effort. Anything you do on your own will require a positive mindset...and each day, you choose to commit yourself to it again and again. If you have any questions, or just want to pick my brain, feel free to email. I wish you the best!

Laura
www.TimeForDreaming.com

Answer 4

Hi, I'm a 23 year old stay at home mom with two sucessfull businesses. Don't want to get spammed for giving out to much info, but I'd love to share what I do with you. You may want to try it, if not, I know of some other businesses that may be more ideal for you with low starting cost. You can reply to this or email me at [e-mail] I'll also send my number via email if you'd like to talk in more detail. Best of luck...

Answer 5

Be passionate about your endeavor and do focus groups around it to make sure it's really a good idea that will sell.

Answer 6

Courier service......call up lawyers and other business people.
Make sure you have reliable transportation

Answer 7

There are lot of things you can do on the net. Take a look here http://www.moneyaside.com for tips.