The Student Room Group

Advice on starting a business??

(edited 1 year ago)
So what exactly do you want?
Just mainly how I can start a business and from there I can grow.


Posted from TSR Mobile
Original post by Tolula
Just mainly how I can start a business and from there I can grow.


Posted from TSR Mobile


You'll need a more specific question than that. There are thousands of websites telling you how to start a business so I suggest you read through them then come back with any questions you have.

Try Entrepreneur, Start ups etc.
Original post by Tolula
Hi my name is tolu oloba. I am 17 years old, for about 2 and a half years I have been considering starting a business. I feel like I'm in a point in my life where I don't know what to do but starting a business has always taken my interest as I also want to challenge myself to do amazing things for the future, it's really hard for me as my parents put so much pressure on me to got to uni and get a degree and I always told them I wanted to start a business but they don't take me serious. I would really love the support the from family and friends only one of my friends know and my cousin knows about my idea. I have a passion for beauty products, clothes and food but I'm still deciding what I want to venture in.. I feel I need someone in my life to guide and assist me about the business world and see if I am really cut out for this, I really am passionate to start my own business from scratch I have no penny to my name, well do I have many saved aside but not the amount that I need to start a business. Sorry for this bit I am hoping that someone can please advice me on how to start one. Thank you.


Posted from TSR Mobile


Interesting, I guess you could try to find a mentor to help you with this sort of thing. If there are companies in the beauty/clothes/food industry that you think are doing something along the lines of what you want to do, try calling them up and maybe getting some work experience and then from there you could get a mentor.
Reply 5
Original post by Tolula
Hi my name is tolu oloba. I am 17 years old, for about 2 and a half years I have been considering starting a business. I feel like I'm in a point in my life where I don't know what to do but starting a business has always taken my interest as I also want to challenge myself to do amazing things for the future, it's really hard for me as my parents put so much pressure on me to got to uni and get a degree and I always told them I wanted to start a business but they don't take me serious. I would really love the support the from family and friends only one of my friends know and my cousin knows about my idea. I have a passion for beauty products, clothes and food but I'm still deciding what I want to venture in.. I feel I need someone in my life to guide and assist me about the business world and see if I am really cut out for this, I really am passionate to start my own business from scratch I have no penny to my name, well do I have many saved aside but not the amount that I need to start a business. Sorry for this bit I am hoping that someone can please advice me on how to start one. Thank you.


Posted from TSR Mobile



The first thing you need when it comes to starting a business is actually interest in it, nothing is worst than trying to sell something you have no passion about.

There will always be "nay-sayers" and quite often the one who would say nay are your parents or persons closest to you. As someone who has several businesses I generally say to tell the nay sayers thanks for your time but watch me do it, if I fail I'll come to you for some consolation :smile:

Generally if it is something small then try it first on a small scale especially if it isn't capital intensive. If it is capital intensive and money you can't really afford to lose easily then it is best to go work for someone in the industry you're thinking of starting something in for a couple of years to ensure you understand the ins and outs of the business before you put money into something.

A good resource for anyone thinking of starting their own business is Startup Britain :smile: Google it :biggrin:
Original post by Alfissti
The first thing you need when it comes to starting a business is actually interest in it, nothing is worst than trying to sell something you have no passion about.


I have to disagree a little with that. Of course, you need an interest in the product but you need to be able to let go once it gets to the point where you're running and growing a business, instead of designing and selling the product. If you have such a big passion for the product, will you really be able to take a step back and let someone else sell it whilst you try and keep the numbers under control or deal with other issues?
Original post by Runninground
I have to disagree a little with that. Of course, you need an interest in the product but you need to be able to let go once it gets to the point where you're running and growing a business, instead of designing and selling the product. If you have such a big passion for the product, will you really be able to take a step back and let someone else sell it whilst you try and keep the numbers under control or deal with other issues?


Well Said ! I think it's important also to either find a pragmatic way to finance your passion, or find a way to bridge something you enjoy with a system to get compensation. I think when you go into business say for yourself, you may have to do things that you don't really want to do, like odd hours here and there or things that you're not exactly the best at.
Wow thanks for the advice! There is so much to take in!! In terms of working under someone I not quiet comfortable with that :/ I really know I have a great interest in beauty products aside from food and clothes that's all a life style for me. I thought this through it's just I think I need the confidence to do this!


Posted from TSR Mobile
Original post by Tolula
Wow thanks for the advice! There is so much to take in!! In terms of working under someone I not quiet comfortable with that :/ I really know I have a great interest in beauty products aside from food and clothes that's all a life style for me. I thought this through it's just I think I need the confidence to do this!


Confidence is a very tricky thing to deal with. I know exactly what it feels like. I have wanted to start so many businesses but never really had the confidence/ being able to go from the not telling anyone about the idea (planning it) to the 'spending your own money on it' stage.

However I am trying to launch a small business at the moment and I have bought a domain. Just buying that domain has made me much more determined to give this one a real go and not just let it die out like the other ideas i've had.
OP, can you be any more specific in what field you want to start your business in? And if you don't know yet, what fields are you interested in, what are you good at? Will it be a tech startup, or, say, a bakery? I think your question is too broad for you to get any meaningful advice because the category of "a business" is so broad.
Reply 11
Original post by Runninground
I have to disagree a little with that. Of course, you need an interest in the product but you need to be able to let go once it gets to the point where you're running and growing a business, instead of designing and selling the product. If you have such a big passion for the product, will you really be able to take a step back and let someone else sell it whilst you try and keep the numbers under control or deal with other issues?


If you run your own business you will know how to differentiate between the 2 and believe it or not the secret to effective management of a business is often all about delegation or if it is still at infancy to know what the market wants and meet it first.
Hey Tolu,

I echo some of the others posters, it would be good to hear what sort of business it is you are looking at starting.

I would like to just weigh in with my 2c, and I apologies for the length of this post in advance. I know exactly how you feel, I spent my entire teen years coming up with various business ideas and ways to reinvent certain industries. I admit, a lot of the ideas that I came up with at the time would be seen by many as insane and it is for that reason that I didn't disclose my entrepreneurial bug to my friends and family.

It wasn't until I got to the point in my life that I had to make the decision between university or work that I sat down to evaluate what it was I actually wanted to gain. I fretted between the idea of working for myself and a degree for a good year before I finally made my decision.

After completing my UCAS application to head off to university, I saw with my finger on the button to send my application. But I couldn't do it, I complete withdrew my application that I had been working on for months. I let a lot of people in my family down, who had hoped I would be the first of us to go to university but I knew I would gain more experience from working.

I went through various jobs from retail to working in Ibiza for part of the season, giving me plenty of experience with different environments. When I returned from my semi season in Ibiza, I was unemployed for around 4 months. Rather than spend this time doing nothing, I started working on one business idea that I had developed a true passion for. My mum quickly noticed a change in my character, I became more determined to succeed, so she confronted me about what I was actually doing. This was the first time I had sat down with her to discuss my desire to pursue a lifestyle as an entrepreneur.

She told me I was crazy and that I should focus on getting a real job and this was a real set back for me. Like you, I just wanted to support of my family behind me. So I went and got myself a job working in a telephone office so I had my own income coming in, but I wanted to succeed so much more now to give my mum a reason to be proud of me.

I worked away on a business plan for this venture for months, whilst I worked at the phone office and it in March last year I took the biggest step of my life by putting myself out there. I identified a company that I wanted to work with to launch this new venture as they shared a similar ethos to me and it seemed like the ideal fit. So I stalked the CEO of the company down on LinkedIn and Twitter and sent him a message asking to get his thoughts on my business plan and the venture in general.

A few days later, I was actively chatting to this gentleman through E-mail and Twitter, and I could tell he had some interest in the proposal. So I suggested setting up a meeting for us to chat about it in more depth, to which he agreed to do with his equal business partner. A month or so passed and I found myself embarking on a mammoth road trip to drive from Sussex to Manchester to meet with these two guys to discuss a project I had been working on in my bedroom for months beforehand.

I honestly didn't know what to expect, I was so naive to the concept of business at this point. But the guys were impressed and agreed with me to launch this new venture with me. I was overjoyed, so naturally the first thing I wanted to do was share my happiness with my family. Needless to say they were not as keen on the project as I, as it involved me leaving a well paid job at home with the support of my family and moving to a city the other side of the country where I knew nobody.

The day soon came around that I left my old job and the next morning I found myself on a coach at Gatwick Airport with my mum in floods of tears ready to leave for Manchester. It was that moment that she told me she was proud of the decision I had made and that my future was now all in my own hands.

So where do I find myself today? Well, my venture is now a reality. I work for one of the most exciting and ambitious 18-30 year old events and travel company, I have the opportunity to do things that 12 months ago I would have never even dreamed possible and I have the full backing and support of my family and friends that had not long ago doubted my ambitions and dreams.

I hope that this post helps you out greatly, everything you want to do in your life is in your hands. Nobody is going to come and hand you your business, you have to work tirelessly to achieve your ambitions. You need to put yourself out there and you need to have a clear vision of what your personal goals are. Why do you want to be an entrepreneur? Is it to be wealthy rich or knowledge rich? My personal answer is a mixture of the two, I am incredible fortunate to be doing what I love and to be able to make a living from that is the icing on the cake.

If I can offer you any more help or tips, feel free to drop me a private message. All the best with your future, I hope it is bright for you
Original post by InvasionJosh
x

Great read, well done on making your business work :tongue: I have a couple of ideas that I'm planning on finding out whether they're physically possible, I hope if they are that I have the guts to develop them like you have :yep:
Original post by benplumley
Great read, well done on making your business work :tongue: I have a couple of ideas that I'm planning on finding out whether they're physically possible, I hope if they are that I have the guts to develop them like you have :yep:


Thanks Ben - Just believe in yourself. As cliche as that sounds, what held me back was not giving myself enough credit for what I had worked on. It can seem like a daunting prospect, with no clear path to success, but you have to take the risks to succeed

Feel free to drop me a PM if you would like to get an opinion on any ideas you may have
Original post by Tolula
Wow thanks for the advice! There is so much to take in!! In terms of working under someone I not quiet comfortable with that :/ I really know I have a great interest in beauty products aside from food and clothes that's all a life style for me. I thought this through it's just I think I need the confidence to do this!


Posted from TSR Mobile


I also like to do start up . When i am Third year of college i begin to make my start up . Until now for my understand , do start is excite and hard . it is excite that the future is unknow and you make it yourself . But most of time it is hard , start up make business , make effort and work hard is not enough . It need resource and LUCK . For begin, my advices is here :
1, talke to as more as possible people . expecially the guys have succeed .
2, contact the market . first need to learn how to sell . It is really important learn how to sell things . the process will help you imporove your marketing sence , undstanding what is going to popular .And understand what client thinking .
3, find a small project to start , invest some money but don't too much . Because 90% the begining will fail .
(edited 10 years ago)
Reply 16
Find a co-founder, it's not needed, but it's so exiting making a business with a co-founder. It doesn't need to be a friend. I'm currently setting up an eCommerce marketplace and I'm by myself since finding the perfect co-founder is hard.

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