Question

how would i start my own business?

i want to start my own company. i have an idea of what we would produce/ the services we would supply. im only 17 though and still in high school but i have been chosen to work for British airways next year when i get my a&p licenses. any ways the thing is lets suppose your income is around 40k-60k a yr how would you start your business/company as a 20 year old with that income, given that you have no other expenses because your still living at home.

1 year ago - 3 answers

Best Answer

Chosen by Asker

This is the same thing I did. I started a busines while I was working for someone else. My suggestion is that you start small. You've got a steady source of income and minimal expenses at your age- which is good. My biggest difficulty at 20 was that I wasn't very focused, I got easily distracted by girls, bars, partying, etc. hopefully you're more level headed and focused than me. Anyway back to your question, as you run your business you learn important things, that you never consider until you run a business. How to deal with customers, launch new products, build brand / product recognition, advertising, marketings, sales. You just learn loads of stuff and since you're working you can afford to make some mistakes along the way. Just stay focused. The biggest stress is when you leave your work and your business becomes you only income. That can be stressfull for two reason, 1 you don't have the income of the job and business and 2 you only have the income of the business. So, if the business sales drop or change you may be in for a rough ride. I know I'm rabbling so enough.

Good luck with you new business.

Source(s):

1 year ago

Other Answers

you get a small business loan, make the necessary purchases and get started :P

by Joseph Ducreux - 1 year ago

If you have idea, right approach and clear with your goals mission visions then it is very for to run business in right direction.Firstly i would like to share with you that you need to make your process better by adopting new technology and marketing plans although money is the important factor but after investing you should how to rotate invested capital so that you can get better outcomes.Before starting any business you need analysis internal and external factors associated with your business if all factor's are favorable then you can plan to start a new business.
www.bworkflow.com provides best business solutions, business process improvement services, process workflow software etc.

Source(s)

by Robin - 1 year ago