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Advice For Young Entrepreneurs: How To Get Started In Business

By Myles Bunyard | August 14, 20130 Comment

 Lots of people want to have successful careers as small-business owners or entrepreneurs, but many fail.

You can succeed, however, if:

1. Do what you really love. You simply can’t quickly the develop the passion for a project that isn’t close to your heart. While more experienced entrepreneurs can rely on their business skills and develop a passion for the purpose of the business as it moves on, inexperienced business owners must know and love their businesses to succeed.

2. Clearly understand what you want. Decide in advance if you’re willing to leave school if your business takes off, whether you’re looking at the project as only a source of pocket money and how much of your free time you’re willing to devote. You don’t want to create a business that’s too big in concept for you to manage with your available resources.

3. Try something original. Don’t be limited by what’s been done before. Early in your business career is the time to try radical concepts. You’ll still have many years of career time to develop stability. Early on, you want to create business paths that reinvent the business pathway rather than simply ride along in someone else’s tracks.

4. Set things up right. That means following the law related to registering your business, recordkeeping and paying your taxes. If the business takes off, you want it to be built on a firm foundation. Get help with administrative and legal hassles if you don’t have the experience or desire to tackle these aspects of your business yourself.

5. Take advantage of uniquely available resources. If you’re a student entrepreneur, you have access to a university’s high-speed Internet, advanced printing capabilities and a wide range of professors and staff members who will enjoy helping you and are obliged to do so. Don’t try to go it alone when you’re surrounding by better resources than you’ll have at any other time in your life.

With these five tips in mind, you can start a successful business even if you don’t have much experience to call on.Category: EntrepreneurFinancialInvestingMyles Bunyard Tags: Investing, Myles Bunyard, Young entrepreneur

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