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bravo2red bravo2red is offline
Starting Out
Join Date: Jan 2012
Posts: 19
Tips for Young Entrepreneurs!

Hi Guys,

If you guys met a young entrepreneur today who was starting a business, any business. What 5 tips would you give him or her?

Thanks,
Daniel!
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dan_plan's Avatar dan_plan dan_plan is offline
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Join Date: Mar 2011
Location: London, N226AD
Posts: 421
Hi Daniel.

1. A business without a great product/service can't survive
2. Don't pay for any advertisement - use social media, PR and creativity
3. Read great business books
4. Listen to your early customers
5. Follow your vision
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meisage meisage is offline
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Join Date: Apr 2011
Posts: 196
It's not just about Money but it's also about your PASSION. Loving what you are doing, makes you think to strive for the BEST!
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amyemhale amyemhale is offline
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Join Date: Jan 2012
Posts: 3
Hi Daniel, I would agree with the great points already made - especially what meisage said about passion- that is essential - you have to be in love with your idea! I think being determined is important but as is listening to potential customers and doing lots of market research before you begin to make sure there is a market for your product or service.
Also to always ask people for help and advice!
Hope this helps,
Amy

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mTech mTech is offline
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Join Date: Feb 2012
Posts: 105
I am a young start up entrepreneur and, at first, found it hard to get together all the necessary means to start my business.

What I would say to any fellow young entrepreneur would be "Ask Questions" and "Ask around". I'm not necessarily one of the most sociable among the bunch, but I've found, after sitting back and looking at what I can do to improve both myself and my business prospects, is that by just talking to people- even those who you don't necessarily turn to for help/ guidance, people seem to want to understand what you're about. This could be anyone from the guy behind the kiosk at your local newsagents to a school teacher/ headteacher or even someone who you just see that certain spark in, especially those who are close to you. For example, my business consists of many aspects from design, consultation and promotions/marketing to the actual manufacture of the product.

I could not do all these by myself and as a result chose to turn to my friends (15 and 16 year old students) and as my business start up starts to develop, I have made it an objective to keep these people in the know. But, just today, one of these friends- who I actually put in charge of the somewhat amateurish online marketing- said exactly these word to me after I explained to him that he doesnt have to do it just because we a friends. Those words were "No, of course I want to. I want to make you successful"... I was taken back. I'm not that trusting of people and just to here those words made the hairs on the back of my neck stand up. Even if my business is extremely small at the moment.

But the point I'm trying to make is that no matter who you are or what you do, people want to see youngsters strive and succeed in what they do.

Just think... When you sit and listen to someone speaking to a large group of people, you honestly do sit there (or at least I do) and pray for their success in that speech. You don't want to see them stutter and flail all over the place in a cold sweat. Or do you!?
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mTech mTech is offline
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Join Date: Feb 2012
Posts: 105
"Read great business books"
A great business book that is incredibly well known is "FT Business Start-ups..."
http://www.amazon.co.uk/Financial-Ti.../dp/0273761994

They update annually and contains information on EVERYTHING you need to start a business from PAYE Forms and employment to Auditing and Tax information

Good luck to anyone who wants to start a business.

I would also say: "Do it ASAP"- starting a business that is
Although the economy is flat in many countries at the moment, be optimistic. Just remember that the market has to pick up at some point and these are the times when long term investments become extremely popular.
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elliot poulter elliot poulter is offline
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Join Date: Feb 2011
Location: Loughborough. High Wycombe and London
Posts: 4
I've been running a business - UNILIBRI - for a year now and I would say the 5 most important things are:

1. Think big - there are so many million/billion dollar companies waiting to be made...go for it. I remember an investor saying "If you can make Google then why would you make Doogle first?" - i.e. you don't need to play it safe if it's your first business!
2. Commit - if you're an aspiring young entrepreneur then this is the perfect time to take a risk. Go for it with everything you've got.
3. Hire people who are smarter than you
4. Build your network - go to lots of events, meet people and meet them again. Make proper connections as this can come in handy later on.
5. Love it - if you're not passionate about what you are doing then it won't work in the long run.
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MarthaCooke MarthaCooke is offline
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Join Date: Apr 2012
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Good job it's really interesting!..thanks 4 tips
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amac's Avatar amac amac is offline
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Join Date: Jan 2012
Posts: 118
Quote:
i really want to start a business to do with IT and I really like making things and planning things but i cannot add these up to get an idea, i had made a mind map full of ideas but each of them were either done my loads others or not good



any ideas
Work in IT. You will not only build your own skills but you'll meet other likeminded people. You'll find many of the startup success stories in IT were actually teams of people building new technologies or services.
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anthony13 anthony13 is offline
Starting Out
Join Date: Aug 2011
Posts: 9
Create a landline number for your mobile

Hey Entrepreneurs,

Our following website helps new businesses to setup landline numbers and divert these calls to their mobiles. It's value for money and helps you to project a more professional image. These can be used on business cards and other marketing materials.

We use it ourselves and it works really well.

Just use the form on the website to sign up and we will sort you out a number to divert.



All the best,


Anthony
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DanOates DanOates is offline
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Join Date: Nov 2011
Posts: 7
Quote:
Originally Posted by danielprempeh View Post
i really want to start a business to do with IT and I really like making things and planning things but i cannot add these up to get an idea, i had made a mind map full of ideas but each of them were either done my loads others or not good



any ideas
Hi Daniel,

I think I may be able to help there, I have some ideas, but am lacking the IT skills to go about it, perhaps we could could get in contact.

Message me if your interested. Cheers
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nemesis nemesis is offline
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Join Date: Oct 2003
Location: Aberdeen
Posts: 362
having made a decade of mistakes you will maybe take my advice witha pinch of salt however

1. come up with a product, perfect that product and then get it in a state that can be easily understood but above all make sure there is a market for the product
2. Sell this product, perfect the sales pitch and pipeline before moving on to another product
3. Watch your margins. Sometimes a job is worth turning down if the margin is too low. Make sure you have a clear understanding of the complete cost of your product. you cant afford to take a loss at the start
4. NETWORK. it's free, its better than PR and advertising put together. sell yourself. I often do business with a person now. I trust that person to not only deliver their product but to tell me in advance of any issues. I go back to the same people time and time again. as an example one of my relationships netted a company £500k of business in January with me. They bothered with me when i was junior to my line and could only pass a few hundred their way
5. Do everything you do well, to the best of your ability. this ties in with point 3. If you undercharge the temptation is to cut corners. never do this as the damage can be irrepairable


Im getting too much valuable experience to start my own business at the moment but when i do thats how i think i would like to run mine
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natasha natasha is offline
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Location: Walthamstow, London
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I would also say definately do something that you are passionate about, because when times get tough this is what will pull you through.
Secondly would be to Research,research, research! Finally would be to have a plan.
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"Make no small plans for they have no power to stir the soul." (Niccolo Machiavelli)

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georgebrown georgebrown is offline
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Join Date: May 2013
Location: California
Posts: 16
Re:

i would suggest him:
1) To innovate
2) To Explore
3) Verify his Niche Market.
4) Hire a good accounting service if it is a large scale business.
5) Publicize you products and service to the maximum extent.
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hmelissa hmelissa is offline
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Join Date: Jul 2013
Posts: 4
Please advise if a book for beginners in business. How to find your sphere? What do you say?
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