10 Steps to Becoming an Entrepreneur at the age of 18

Step 1Find the right business for you.

Entrepreneurship is a broad term, and you can be an entrepreneur in just about any area. However, you will have to pick a field to work in and business to start. Find a business that won’t only be successful, but is something that you are passionate about. Entrepreneurship is hard work, so you want to focus your attention on something you care about.

Step 2 Determine if you should get an education. 

You don’t need to have any type of formal education to be an entrepreneur, but that doesn’t mean you should ignore education entirely. If you want to start a tech company, experience in business, computer programming and marketing could all be valuable. Also, some industries will likely require some type of education, such as your own accounting or law firm.

Step 3 Plan your business. 

Before you begin your business, you need to have a business plan. A business plan lays out any objectives you have as well as your strategy for achieving those objectives. This plan is important for getting investors on board, as well as measuring how successful your business is.

Step 4 Find your target group/audience.

Not every business appeals to everyone. The age, gender, income, race and culture of your target group will play a large role in determining where you open up shop – or if you even need to have a physical address for business. Research which group fits your business model best, and then gear everything to attract that demographic.

Step 5 Network. 

While networking is important in all fields, it may be most important for entrepreneurs. Networking is how you meet other people that might have skills you can use in your business. You can also find potential investors through networking to help get your business model off the ground. Your network can also support your business once you open, helping send new customers your way.

Step 6 Sell your idea. 

Consumers want products, but they don’t always know which product to pick. Your job as an entrepreneur is to convince people that whatever you’re selling is the best option available. You’ll have to find out what makes your product unique and then sell it based off the value it adds.

Step 7 Market 

You should be focused on marketing before, during and after you start your business. You may have the best restaurant in the city, but nobody will visit if they don't know it exists. Marketing is tricky, but if you should be able to focus your marketing efforts on your target audience. For example, millennials may be more likely to see an ad on social media than on a billboard downtown.

Step 8 Build a Strong Savings Habit. 

For you to be able to start a business at such an early age, you would need some funds. Sometimes, your parents may be unable to provide the funds you need to start a business, or may not even understand why you are looking to start a business when you should be focused on your studies.

This means that you would need to find ways to raise funds on your own. You can do this by starting your own piggy bank savings scheme. Start dropping any extra cash you get from your parents or from gifts from family and friends in your piggy bank until you have something tangible to start a business of your own.

You may have to pass on some luxuries or fun activities that kids your age would usually be engaged in. If you really want to become an entrepreneur at a young age, you would have to make a lot of financial sacrifices to be able to raise seed money because it is unlikely that any financial institution would be willing to offer loans to an inexperienced teenager.

Step 9. Look for Problems You Can Help Your Friends Solve. 

A young teenager once started, and made a lot of money from offering wristwatch repair services to his friends and colleagues at school. He started with helping his friends fix their wristwatches each anytime it malfunctioned, and gradually, he became known as the go-to guy for wristwatch repairs all around school.

There are lots of things that your friends and colleagues may not know how to do on their own, and you can capitalize on these and start a business that helps to solve their problems.

Step 10  Use Your Holidays Wisely. 

Look for things you can sell during your holidays. Holidays are a very great time for you to develop and hone your business skills. For instance, you can buy some nice looking beach hats, swim suits or refreshments, and sell them around places where tourists and holiday makers often visit.



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