To start a Business, what do I do? Where to go? What to even say?
I'm studying business at my secondary school, but they never taught me the mere basics. I'm just curious and I'd like to know more as to what to do. Sorry for all the questions:
Let's say I want to create a brand:
What are the first steps of creating a brand?
Do I call/tell anyone specifically to say ''I want a business''. Do I even say that?
Where do I go? By this I don't mean which city would give me the most opportunities, I mean is there any random building people go to to say ''I want a business''?
What If i want my own building? (Same questions)?
Once you start your brand/business, then what?
I know to start a business you also need people. How do you even collect these people??? Who are they paid by? Me? What if I'm just starting and have no money? Are they strangers?
I am so confused... I wish school taught me these kinds of things. I need people to tell me exactly what to do step by step, not make me spend 3 lessons on market research without even telling me how to start something first.
Let's say I want to create a brand:
What are the first steps of creating a brand?
Do I call/tell anyone specifically to say ''I want a business''. Do I even say that?
Where do I go? By this I don't mean which city would give me the most opportunities, I mean is there any random building people go to to say ''I want a business''?
What If i want my own building? (Same questions)?
Once you start your brand/business, then what?
I know to start a business you also need people. How do you even collect these people??? Who are they paid by? Me? What if I'm just starting and have no money? Are they strangers?
I am so confused... I wish school taught me these kinds of things. I need people to tell me exactly what to do step by step, not make me spend 3 lessons on market research without even telling me how to start something first.
Note: do not take any of the following as business advice. Always seek advice from a professional and experienced business advisors.
I recommend getting a job working under a businessperson to get the experience, or at least get advice from a business mentor. If you intend to start your own, then you might want to speak to a business advisor regarding setting up a business, as there are many places that offer start-up advice (google them for your local area).
I think UK law mandates that you need to be at least 18 to start your business, although it is said you can still start a business should you have someone who is at least 18 to sign off the decisions - see a solicitor regarding this first. It will probably be a good idea to do your A Levels or a Level 3 qualification before doing so, as it's difficult to do after you're 19.
The process can seem a bit murky because every business is different, and it's very difficult to gauge demand without going through it all beforehand.
When people start a business from scratch, it's usually just the founder (and his team maybe). The employees come on board later in the game, usually. Having said that, you can buy an existing business with everything figured out as well.
To hire people, you usually put up job posts on a website like Indeed. However, there are other ways such as networking, recieving speculative CVs, word of mouth, etc. The owner/director usually signs off payroll for employees, unless it's a big company where pay is managed by HR/payroll department. If you're hiring contractors/freelancers, you pay them after the job is done (and ideally you have signed a contract with them as well).
If you're starting with no money, you can either save up and start with what you have or seek funding. This can be via loans, share offerings, etc. - it comes under business finance. Having said that, most online business don't require a lot of money to start. There are ways to start a business with little to no money, but I wouldn't advise on it.
People will have different definitions of what a brand is (you can google the definition from a specialised business dictionary if you want). For me, it's the reputation of the company. The moment you interact with the public is when you start building your brand. There is no formal step by step training on this, as far as I know. A brand just comes into being once the reputation is widespread enough.
Wanting your own building is a good aspiration, but it' a bit of a stretch when you're starting out and have no business experience. A lot of businesses prefer to work remotely/at home because it cuts down on costs and there isn't really a need to have a building considering what technology we have. Unless you're running a factory or deal with a lot of paperwork where you need to be at a certain place to manage it all, I wouldn't even get an office (one can cost £400 -£1000 in rent per month not including business taxes, so imagine the cost of a building that houses 20 or so offices).
People start a business for various reasons. This can be from something as grand as changing the world, to something as small as earning a bit more money to supplement. Once you have established a business, it will depend on whether you want to continue meeting those business objectives/goals or change and do something else. If you're the CEO/director/owner, you're in the driving seat, but you're also liable to meet certain responsibilities (and there will be a lot of them).
Should you wish to go on business courses, I'd say there are 3 main types out there:
Having said that, there is no legal requirement that I know of that you need a certain qualification to start a business, but it pays to know something about business before starting. However, whatever course or material you learn, you need to be wary of whether it complies with UK laws.
In my opinion, the biggest headaches when starting a business are legal and accounting. On the business economics side of things, you will be concerned by efficiency, IT, marketing, and financial management.
For general advice when you are starting a business, I would recommend looking into the Federation of Small Business in the UK (there's a separate US organisation with the same name I think), where you can get a lot of advice and support to start a business for an annual subscription. However, I would recommend speaking to the business advisor for free sessions first when you come to this.
Like I said, the process of starting a business can be murky, but the above is my take on it.
I will try to answer your questions with my interpretation of things:
Let's say I want to create a brand:
What are the first steps of creating a brand?
A brand is the reputation of the business. It's one of those things you know exist, but there is not means that you can use to measure the substance of it. It's like saying how do you know your reputation exist.
I would just try to maintain good business practice (this can be good customer service, high quality products, etc.) and be consistent with it. Your brand will usually follow.
Do I call/tell anyone specifically to say ''I want a business''. Do I even say that?
I don't understand the question. Why do you need to call/tell anyone? You either have a business or you don't.
If you want to start a business, you need to make sales and deliver on your product/service.
If you want to buy a business, you need to do a lot of legal stuff e.g. contracts, deeds, etc. You can see a business broker for this, but I tend to prefer to do things with the owners directly.
Where do I go? By this I don't mean which city would give me the most opportunities, I mean is there any random building people go to to say ''I want a business''?
See your previous question.
Not sure what your school is teaching you.
What If i want my own building? (Same questions)?
You normally lease business premises. You can buy your own commercial building. Most of the time, you can google the listings to see what's available in your chosen area.
Once you start your brand/business, then what?
It depends what your goals are for the business. Do you want to grow the business? Do you want to sustain the business?
Why do you want to go into the business?
Some people start a business to sustain a living. Others build it to deliver a valuable widget. Others do it to fulfil a vision. Others just want the money.
I know to start a business you also need people. How do you even collect these people??? Who are they paid by? Me? What if I'm just starting and have no money? Are they strangers?
Need people is very dependent on the specific type of business. You can be a lone person going out and doing everything yourself (very stressful). You can also have a small team of people you either partner up with or hire.
"Collect" is such a dehumanising term. I hope you treat your staff like people. You hire people the same way you apply for jobs: either do it via word of mouth, advertise privately, or advertise using recruitment agencies.
If you hire people, the business pays for their labour. If you're a sole trader, you pay for them.
If you're starting and have no money, you have 2 options: either bootstrap your business and work on a shoestring budget (involves you being very creative) or raise the money (bank loans, loans, equity, etc.)
I don't know what your school is teaching you. From the above, it seems you're lacking in even the basics.
I recommend reading the following 2 books just for you to catch up on things:
If you're doing a GCSE in business, the above should have been covered. If you're doing A Level business studies, the above definitely should be covered.
I recommend getting a job working under a businessperson to get the experience, or at least get advice from a business mentor. If you intend to start your own, then you might want to speak to a business advisor regarding setting up a business, as there are many places that offer start-up advice (google them for your local area).
I think UK law mandates that you need to be at least 18 to start your business, although it is said you can still start a business should you have someone who is at least 18 to sign off the decisions - see a solicitor regarding this first. It will probably be a good idea to do your A Levels or a Level 3 qualification before doing so, as it's difficult to do after you're 19.
The process can seem a bit murky because every business is different, and it's very difficult to gauge demand without going through it all beforehand.
When people start a business from scratch, it's usually just the founder (and his team maybe). The employees come on board later in the game, usually. Having said that, you can buy an existing business with everything figured out as well.
To hire people, you usually put up job posts on a website like Indeed. However, there are other ways such as networking, recieving speculative CVs, word of mouth, etc. The owner/director usually signs off payroll for employees, unless it's a big company where pay is managed by HR/payroll department. If you're hiring contractors/freelancers, you pay them after the job is done (and ideally you have signed a contract with them as well).
If you're starting with no money, you can either save up and start with what you have or seek funding. This can be via loans, share offerings, etc. - it comes under business finance. Having said that, most online business don't require a lot of money to start. There are ways to start a business with little to no money, but I wouldn't advise on it.
People will have different definitions of what a brand is (you can google the definition from a specialised business dictionary if you want). For me, it's the reputation of the company. The moment you interact with the public is when you start building your brand. There is no formal step by step training on this, as far as I know. A brand just comes into being once the reputation is widespread enough.
Wanting your own building is a good aspiration, but it' a bit of a stretch when you're starting out and have no business experience. A lot of businesses prefer to work remotely/at home because it cuts down on costs and there isn't really a need to have a building considering what technology we have. Unless you're running a factory or deal with a lot of paperwork where you need to be at a certain place to manage it all, I wouldn't even get an office (one can cost £400 -£1000 in rent per month not including business taxes, so imagine the cost of a building that houses 20 or so offices).
People start a business for various reasons. This can be from something as grand as changing the world, to something as small as earning a bit more money to supplement. Once you have established a business, it will depend on whether you want to continue meeting those business objectives/goals or change and do something else. If you're the CEO/director/owner, you're in the driving seat, but you're also liable to meet certain responsibilities (and there will be a lot of them).
Should you wish to go on business courses, I'd say there are 3 main types out there:
1.
Academia - this is college and uni, where you will most learn about business theory and a bit of skill - essentially what you're doing at GCSE but more in depth. This can be a Level 3 qualification, Bachelor's in a business related subject, MBA, other master's in business related subjects, or even research doctoral degrees. There are occasional online/short/free courses on business held by universities, research institutions, and colleges
2.
Professional courses - there aren't courses that I know of that are specialised for entrepreneurs or business owners from a professional body, but you can take some and earn qualifications from professional bodies in accounting, HR, and marketing to get the fundamental knowledge you need to be a good manager/businessperson. The information in these qualifications/courses tend to have a bit of theory, but a lot of practical stuff.
3.
Courses by other people - this can be from people who just know a lot about business, people who have succeeded in business, or people just selling courses. The quality can vary wildly from complete misinformation and waste of money to the best material out there. You have to be very careful about learning this, as none of this is accredited by academia or professional bodies. However, the material you can get can be regarding business principles that can be applied to most businesses; most should be practical material, although there are a number that have business theory in them.
Having said that, there is no legal requirement that I know of that you need a certain qualification to start a business, but it pays to know something about business before starting. However, whatever course or material you learn, you need to be wary of whether it complies with UK laws.
In my opinion, the biggest headaches when starting a business are legal and accounting. On the business economics side of things, you will be concerned by efficiency, IT, marketing, and financial management.
For general advice when you are starting a business, I would recommend looking into the Federation of Small Business in the UK (there's a separate US organisation with the same name I think), where you can get a lot of advice and support to start a business for an annual subscription. However, I would recommend speaking to the business advisor for free sessions first when you come to this.
Like I said, the process of starting a business can be murky, but the above is my take on it.
I will try to answer your questions with my interpretation of things:
Let's say I want to create a brand:
What are the first steps of creating a brand?
A brand is the reputation of the business. It's one of those things you know exist, but there is not means that you can use to measure the substance of it. It's like saying how do you know your reputation exist.
I would just try to maintain good business practice (this can be good customer service, high quality products, etc.) and be consistent with it. Your brand will usually follow.
Do I call/tell anyone specifically to say ''I want a business''. Do I even say that?
I don't understand the question. Why do you need to call/tell anyone? You either have a business or you don't.
If you want to start a business, you need to make sales and deliver on your product/service.
If you want to buy a business, you need to do a lot of legal stuff e.g. contracts, deeds, etc. You can see a business broker for this, but I tend to prefer to do things with the owners directly.
Where do I go? By this I don't mean which city would give me the most opportunities, I mean is there any random building people go to to say ''I want a business''?
See your previous question.
Not sure what your school is teaching you.
What If i want my own building? (Same questions)?
You normally lease business premises. You can buy your own commercial building. Most of the time, you can google the listings to see what's available in your chosen area.
Once you start your brand/business, then what?
It depends what your goals are for the business. Do you want to grow the business? Do you want to sustain the business?
Why do you want to go into the business?
Some people start a business to sustain a living. Others build it to deliver a valuable widget. Others do it to fulfil a vision. Others just want the money.
I know to start a business you also need people. How do you even collect these people??? Who are they paid by? Me? What if I'm just starting and have no money? Are they strangers?
Need people is very dependent on the specific type of business. You can be a lone person going out and doing everything yourself (very stressful). You can also have a small team of people you either partner up with or hire.
"Collect" is such a dehumanising term. I hope you treat your staff like people. You hire people the same way you apply for jobs: either do it via word of mouth, advertise privately, or advertise using recruitment agencies.
If you hire people, the business pays for their labour. If you're a sole trader, you pay for them.
If you're starting and have no money, you have 2 options: either bootstrap your business and work on a shoestring budget (involves you being very creative) or raise the money (bank loans, loans, equity, etc.)
I don't know what your school is teaching you. From the above, it seems you're lacking in even the basics.
I recommend reading the following 2 books just for you to catch up on things:
•
The Personal MBA: A World-Class Business Education in a Single Volume by Josh Kaufman
•
The Ten-day MBA by Steven Silbiger
If you're doing a GCSE in business, the above should have been covered. If you're doing A Level business studies, the above definitely should be covered.
(edited 2 years ago)
Original post by MindMax2000
Note: do not take any of the following as business advice. Always seek advice from a professional and experienced business advisors.
I recommend getting a job working under a businessperson to get the experience, or at least get advice from a business mentor. If you intend to start your own, then you might want to speak to a business advisor regarding setting up a business, as there are many places that offer start-up advice (google them for your local area).
I think UK law mandates that you need to be at least 18 to start your business, although it is said you can still start a business should you have someone who is at least 18 to sign off the decisions - see a solicitor regarding this first. It will probably be a good idea to do your A Levels or a Level 3 qualification before doing so, as it's difficult to do after you're 19.
The process can seem a bit murky because every business is different, and it's very difficult to gauge demand without going through it all beforehand.
When people start a business from scratch, it's usually just the founder (and his team maybe). The employees come on board later in the game, usually. Having said that, you can buy an existing business with everything figured out as well.
To hire people, you usually put up job posts on a website like Indeed. However, there are other ways such as networking, recieving speculative CVs, word of mouth, etc. The owner/director usually signs off payroll for employees, unless it's a big company where pay is managed by HR/payroll department. If you're hiring contractors/freelancers, you pay them after the job is done (and ideally you have signed a contract with them as well).
If you're starting with no money, you can either save up and start with what you have or seek funding. This can be via loans, share offerings, etc. - it comes under business finance. Having said that, most online business don't require a lot of money to start. There are ways to start a business with little to no money, but I wouldn't advise on it.
People will have different definitions of what a brand is (you can google the definition from a specialised business dictionary if you want). For me, it's the reputation of the company. The moment you interact with the public is when you start building your brand. There is no formal step by step training on this, as far as I know. A brand just comes into being once the reputation is widespread enough.
Wanting your own building is a good aspiration, but it' a bit of a stretch when you're starting out and have no business experience. A lot of businesses prefer to work remotely/at home because it cuts down on costs and there isn't really a need to have a building considering what technology we have. Unless you're running a factory or deal with a lot of paperwork where you need to be at a certain place to manage it all, I wouldn't even get an office (one can cost £400 -£1000 in rent per month not including business taxes, so imagine the cost of a building that houses 20 or so offices).
People start a business for various reasons. This can be from something as grand as changing the world, to something as small as earning a bit more money to supplement. Once you have established a business, it will depend on whether you want to continue meeting those business objectives/goals or change and do something else. If you're the CEO/director/owner, you're in the driving seat, but you're also liable to meet certain responsibilities (and there will be a lot of them).
Should you wish to go on business courses, I'd say there are 3 main types out there:
Having said that, there is no legal requirement that I know of that you need a certain qualification to start a business, but it pays to know something about business before starting. However, whatever course or material you learn, you need to be wary of whether it complies with UK laws.
In my opinion, the biggest headaches in my opinion when starting a business is the legal and accounting. On the business economics side of things, you will be concerned by efficiency, IT, marketing, and financial management.
For general advice when you are starting a business, I would recommend looking into the Federation of Small Business in the UK (there's a separate US organisation with the same name I think), where you can get a lot of advice and support to start a business for an annual subscription. However, I would recommend speaking to the business advisor for free sessions first when you come to this.
Like I said, the process of starting a business can be murky, but the above is my take on it.
I recommend getting a job working under a businessperson to get the experience, or at least get advice from a business mentor. If you intend to start your own, then you might want to speak to a business advisor regarding setting up a business, as there are many places that offer start-up advice (google them for your local area).
I think UK law mandates that you need to be at least 18 to start your business, although it is said you can still start a business should you have someone who is at least 18 to sign off the decisions - see a solicitor regarding this first. It will probably be a good idea to do your A Levels or a Level 3 qualification before doing so, as it's difficult to do after you're 19.
The process can seem a bit murky because every business is different, and it's very difficult to gauge demand without going through it all beforehand.
When people start a business from scratch, it's usually just the founder (and his team maybe). The employees come on board later in the game, usually. Having said that, you can buy an existing business with everything figured out as well.
To hire people, you usually put up job posts on a website like Indeed. However, there are other ways such as networking, recieving speculative CVs, word of mouth, etc. The owner/director usually signs off payroll for employees, unless it's a big company where pay is managed by HR/payroll department. If you're hiring contractors/freelancers, you pay them after the job is done (and ideally you have signed a contract with them as well).
If you're starting with no money, you can either save up and start with what you have or seek funding. This can be via loans, share offerings, etc. - it comes under business finance. Having said that, most online business don't require a lot of money to start. There are ways to start a business with little to no money, but I wouldn't advise on it.
People will have different definitions of what a brand is (you can google the definition from a specialised business dictionary if you want). For me, it's the reputation of the company. The moment you interact with the public is when you start building your brand. There is no formal step by step training on this, as far as I know. A brand just comes into being once the reputation is widespread enough.
Wanting your own building is a good aspiration, but it' a bit of a stretch when you're starting out and have no business experience. A lot of businesses prefer to work remotely/at home because it cuts down on costs and there isn't really a need to have a building considering what technology we have. Unless you're running a factory or deal with a lot of paperwork where you need to be at a certain place to manage it all, I wouldn't even get an office (one can cost £400 -£1000 in rent per month not including business taxes, so imagine the cost of a building that houses 20 or so offices).
People start a business for various reasons. This can be from something as grand as changing the world, to something as small as earning a bit more money to supplement. Once you have established a business, it will depend on whether you want to continue meeting those business objectives/goals or change and do something else. If you're the CEO/director/owner, you're in the driving seat, but you're also liable to meet certain responsibilities (and there will be a lot of them).
Should you wish to go on business courses, I'd say there are 3 main types out there:
1.
Academia - this is college and uni, where you will most learn about business theory and a bit of skill - essentially what you're doing at GCSE but more in depth. This can be a Level 3 qualification, Bachelor's in a business related subject, MBA, other master's in business related subjects, or even research doctoral degrees. There are occasional online/short/free courses on business held by universities, research institutions, and colleges
2.
Professional courses - there aren't courses that I know of that are specialised for entrepreneurs or business owners from a professional body, but you can take some and earn qualifications from professional bodies in accounting, HR, and marketing to get the fundamental knowledge you need to be a good manager/businessperson. The information in these qualifications/courses tend to have a bit of theory, but a lot of practical stuff.
3.
Courses by other people - this can be from people who just know a lot about business, people who have succeeded in business, or people just selling courses. The quality can vary wildly from complete misinformation and waste of money to the best material out there. You have to be very careful about learning this, as none of this is accredited by academia or professional bodies. However, the material you can get can be regarding business principles that can be applied to most businesses; most should be practical material, although there are a number that have business theory in them.
Having said that, there is no legal requirement that I know of that you need a certain qualification to start a business, but it pays to know something about business before starting. However, whatever course or material you learn, you need to be wary of whether it complies with UK laws.
In my opinion, the biggest headaches in my opinion when starting a business is the legal and accounting. On the business economics side of things, you will be concerned by efficiency, IT, marketing, and financial management.
For general advice when you are starting a business, I would recommend looking into the Federation of Small Business in the UK (there's a separate US organisation with the same name I think), where you can get a lot of advice and support to start a business for an annual subscription. However, I would recommend speaking to the business advisor for free sessions first when you come to this.
Like I said, the process of starting a business can be murky, but the above is my take on it.
That is so much more than I expected- thank you so much! You are an angel in human form. Not just that but the way you elucidated all your points was really easily comprehensible! You are better than my own teacher. I want a career in the healthcare industry, particularly dentistry- but I wanted extra knowledge about business because business is everywhere, it was my back up plan too. Again, all the information you shared is greatly appreciated. Thank you, angel trapped in human form!
Reply 3
Hi @Sha.xo527,
We ran a webinar last week with an entrepreneur called Alex Salmon who spoke about setting up his own businesses; he even set one up this year, during the pandemic! I think you may find it an interesting watch:
https://attendee.gotowebinar.com/recording/4017412488532352001
An introduction to Alex Salmon: Alex Salmon understands business. He is a serial business entrepreneur. He has started and sold many successful businesses within and outside of the UK. He is of a mixed heritage: Jamaican father & English mother and grew up in East London and in Florida, United States of America. He is an international business tycoon and was the number 1 Sales Executive for the state of Florida In the United States for one of the largest direct sales companies in the world for three years running. He opened his own Franchise in East London which became number 1 in the UK and number 3 worldwide with over £35 million pounds annual turnover and is often headhunted by major American brands for his endorsement for the UK market. Alex develops and sells multi million pounds businesses regularly and trains business owners around the globe and mentors them into business success. Salmon is the territory Director for a number of businesses in the UK and has just started another new business within this uncertain and chaotic pandemic environment.
Amy
We ran a webinar last week with an entrepreneur called Alex Salmon who spoke about setting up his own businesses; he even set one up this year, during the pandemic! I think you may find it an interesting watch:
https://attendee.gotowebinar.com/recording/4017412488532352001
An introduction to Alex Salmon: Alex Salmon understands business. He is a serial business entrepreneur. He has started and sold many successful businesses within and outside of the UK. He is of a mixed heritage: Jamaican father & English mother and grew up in East London and in Florida, United States of America. He is an international business tycoon and was the number 1 Sales Executive for the state of Florida In the United States for one of the largest direct sales companies in the world for three years running. He opened his own Franchise in East London which became number 1 in the UK and number 3 worldwide with over £35 million pounds annual turnover and is often headhunted by major American brands for his endorsement for the UK market. Alex develops and sells multi million pounds businesses regularly and trains business owners around the globe and mentors them into business success. Salmon is the territory Director for a number of businesses in the UK and has just started another new business within this uncertain and chaotic pandemic environment.
Amy
Reply 4
Original post by MindMax2000
Note: do not take any of the following as business advice. Always seek advice from a professional and experienced business advisors.
I recommend getting a job working under a businessperson to get the experience, or at least get advice from a business mentor. If you intend to start your own, then you might want to speak to a business advisor regarding setting up a business, as there are many places that offer start-up advice (google them for your local area).
I think UK law mandates that you need to be at least 18 to start your business, although it is said you can still start a business should you have someone who is at least 18 to sign off the decisions - see a solicitor regarding this first. It will probably be a good idea to do your A Levels or a Level 3 qualification before doing so, as it's difficult to do after you're 19.
The process can seem a bit murky because every business is different, and it's very difficult to gauge demand without going through it all beforehand.
When people start a business from scratch, it's usually just the founder (and his team maybe). The employees come on board later in the game, usually. Having said that, you can buy an existing business with everything figured out as well.
To hire people, you usually put up job posts on a website like Indeed. However, there are other ways such as networking, recieving speculative CVs, word of mouth, etc. The owner/director usually signs off payroll for employees, unless it's a big company where pay is managed by HR/payroll department. If you're hiring contractors/freelancers, you pay them after the job is done (and ideally you have signed a contract with them as well).
If you're starting with no money, you can either save up and start with what you have or seek funding. This can be via loans, share offerings, etc. - it comes under business finance. Having said that, most online business don't require a lot of money to start. There are ways to start a business with little to no money, but I wouldn't advise on it.
People will have different definitions of what a brand is (you can google the definition from a specialised business dictionary if you want). For me, it's the reputation of the company. The moment you interact with the public is when you start building your brand. There is no formal step by step training on this, as far as I know. A brand just comes into being once the reputation is widespread enough.
Wanting your own building is a good aspiration, but it' a bit of a stretch when you're starting out and have no business experience. A lot of businesses prefer to work remotely/at home because it cuts down on costs and there isn't really a need to have a building considering what technology we have. Unless you're running a factory or deal with a lot of paperwork where you need to be at a certain place to manage it all, I wouldn't even get an office (one can cost £400 -£1000 in rent per month not including business taxes, so imagine the cost of a building that houses 20 or so offices).
People start a business for various reasons. This can be from something as grand as changing the world, to something as small as earning a bit more money to supplement. Once you have established a business, it will depend on whether you want to continue meeting those business objectives/goals or change and do something else. If you're the CEO/director/owner, you're in the driving seat, but you're also liable to meet certain responsibilities (and there will be a lot of them).
Should you wish to go on business courses, I'd say there are 3 main types out there:
Having said that, there is no legal requirement that I know of that you need a certain qualification to start a business, but it pays to know something about business before starting. However, whatever course or material you learn, you need to be wary of whether it complies with UK laws.
In my opinion, the biggest headaches when starting a business are legal and accounting. On the business economics side of things, you will be concerned by efficiency, IT, marketing, and financial management.
For general advice when you are starting a business, I would recommend looking into the Federation of Small Business in the UK (there's a separate US organisation with the same name I think), where you can get a lot of advice and support to start a business for an annual subscription. However, I would recommend speaking to the business advisor for free sessions first when you come to this.
Like I said, the process of starting a business can be murky, but the above is my take on it.
I will try to answer your questions with my interpretation of things:
Let's say I want to create a brand:
What are the first steps of creating a brand?
A brand is the reputation of the business. It's one of those things you know exist, but there is not means that you can use to measure the substance of it. It's like saying how do you know your reputation exist.
I would just try to maintain good business practice (this can be good customer service, high quality products, etc.) and be consistent with it. Your brand will usually follow.
Do I call/tell anyone specifically to say ''I want a business''. Do I even say that?
I don't understand the question. Why do you need to call/tell anyone? You either have a business or you don't.
If you want to start a business, you need to make sales and deliver on your product/service.
If you want to buy a business, you need to do a lot of legal stuff e.g. contracts, deeds, etc. You can see a business broker for this, but I tend to prefer to do things with the owners directly.
Where do I go? By this I don't mean which city would give me the most opportunities, I mean is there any random building people go to to say ''I want a business''?
See your previous question.
Not sure what your school is teaching you.
What If i want my own building? (Same questions)?
You normally lease business premises. You can buy your own commercial building. Most of the time, you can google the listings to see what's available in your chosen area.
Once you start your brand/business, then what?
It depends what your goals are for the business. Do you want to grow the business? Do you want to sustain the business?
Why do you want to go into the business?
Some people start a business to sustain a living. Others build it to deliver a valuable widget. Others do it to fulfil a vision. Others just want the money.
I know to start a business you also need people. How do you even collect these people??? Who are they paid by? Me? What if I'm just starting and have no money? Are they strangers?
Need people is very dependent on the specific type of business. You can be a lone person going out and doing everything yourself (very stressful). You can also have a small team of people you either partner up with or hire.
"Collect" is such a dehumanising term. I hope you treat your staff like people. You hire people the same way you apply for jobs: either do it via word of mouth, advertise privately, or advertise using recruitment agencies.
If you hire people, the business pays for their labour. If you're a sole trader, you pay for them.
If you're starting and have no money, you have 2 options: either bootstrap your business and work on a shoestring budget (involves you being very creative) or raise the money (bank loans, loans, equity, etc.)
I don't know what your school is teaching you. From the above, it seems you're lacking in even the basics.
I recommend reading the following 2 books just for you to catch up on things:
If you're doing a GCSE in business, the above should have been covered. If you're doing A Level business studies, the above definitely should be covered.
I recommend getting a job working under a businessperson to get the experience, or at least get advice from a business mentor. If you intend to start your own, then you might want to speak to a business advisor regarding setting up a business, as there are many places that offer start-up advice (google them for your local area).
I think UK law mandates that you need to be at least 18 to start your business, although it is said you can still start a business should you have someone who is at least 18 to sign off the decisions - see a solicitor regarding this first. It will probably be a good idea to do your A Levels or a Level 3 qualification before doing so, as it's difficult to do after you're 19.
The process can seem a bit murky because every business is different, and it's very difficult to gauge demand without going through it all beforehand.
When people start a business from scratch, it's usually just the founder (and his team maybe). The employees come on board later in the game, usually. Having said that, you can buy an existing business with everything figured out as well.
To hire people, you usually put up job posts on a website like Indeed. However, there are other ways such as networking, recieving speculative CVs, word of mouth, etc. The owner/director usually signs off payroll for employees, unless it's a big company where pay is managed by HR/payroll department. If you're hiring contractors/freelancers, you pay them after the job is done (and ideally you have signed a contract with them as well).
If you're starting with no money, you can either save up and start with what you have or seek funding. This can be via loans, share offerings, etc. - it comes under business finance. Having said that, most online business don't require a lot of money to start. There are ways to start a business with little to no money, but I wouldn't advise on it.
People will have different definitions of what a brand is (you can google the definition from a specialised business dictionary if you want). For me, it's the reputation of the company. The moment you interact with the public is when you start building your brand. There is no formal step by step training on this, as far as I know. A brand just comes into being once the reputation is widespread enough.
Wanting your own building is a good aspiration, but it' a bit of a stretch when you're starting out and have no business experience. A lot of businesses prefer to work remotely/at home because it cuts down on costs and there isn't really a need to have a building considering what technology we have. Unless you're running a factory or deal with a lot of paperwork where you need to be at a certain place to manage it all, I wouldn't even get an office (one can cost £400 -£1000 in rent per month not including business taxes, so imagine the cost of a building that houses 20 or so offices).
People start a business for various reasons. This can be from something as grand as changing the world, to something as small as earning a bit more money to supplement. Once you have established a business, it will depend on whether you want to continue meeting those business objectives/goals or change and do something else. If you're the CEO/director/owner, you're in the driving seat, but you're also liable to meet certain responsibilities (and there will be a lot of them).
Should you wish to go on business courses, I'd say there are 3 main types out there:
1.
Academia - this is college and uni, where you will most learn about business theory and a bit of skill - essentially what you're doing at GCSE but more in depth. This can be a Level 3 qualification, Bachelor's in a business related subject, MBA, other master's in business related subjects, or even research doctoral degrees. There are occasional online/short/free courses on business held by universities, research institutions, and colleges
2.
Professional courses - there aren't courses that I know of that are specialised for entrepreneurs or business owners from a professional body, but you can take some and earn qualifications from professional bodies in accounting, HR, and marketing to get the fundamental knowledge you need to be a good manager/businessperson. The information in these qualifications/courses tend to have a bit of theory, but a lot of practical stuff.
3.
Courses by other people - this can be from people who just know a lot about business, people who have succeeded in business, or people just selling courses. The quality can vary wildly from complete misinformation and waste of money to the best material out there. You have to be very careful about learning this, as none of this is accredited by academia or professional bodies. However, the material you can get can be regarding business principles that can be applied to most businesses; most should be practical material, although there are a number that have business theory in them.
Having said that, there is no legal requirement that I know of that you need a certain qualification to start a business, but it pays to know something about business before starting. However, whatever course or material you learn, you need to be wary of whether it complies with UK laws.
In my opinion, the biggest headaches when starting a business are legal and accounting. On the business economics side of things, you will be concerned by efficiency, IT, marketing, and financial management.
For general advice when you are starting a business, I would recommend looking into the Federation of Small Business in the UK (there's a separate US organisation with the same name I think), where you can get a lot of advice and support to start a business for an annual subscription. However, I would recommend speaking to the business advisor for free sessions first when you come to this.
Like I said, the process of starting a business can be murky, but the above is my take on it.
I will try to answer your questions with my interpretation of things:
Let's say I want to create a brand:
What are the first steps of creating a brand?
A brand is the reputation of the business. It's one of those things you know exist, but there is not means that you can use to measure the substance of it. It's like saying how do you know your reputation exist.
I would just try to maintain good business practice (this can be good customer service, high quality products, etc.) and be consistent with it. Your brand will usually follow.
Do I call/tell anyone specifically to say ''I want a business''. Do I even say that?
I don't understand the question. Why do you need to call/tell anyone? You either have a business or you don't.
If you want to start a business, you need to make sales and deliver on your product/service.
If you want to buy a business, you need to do a lot of legal stuff e.g. contracts, deeds, etc. You can see a business broker for this, but I tend to prefer to do things with the owners directly.
Where do I go? By this I don't mean which city would give me the most opportunities, I mean is there any random building people go to to say ''I want a business''?
See your previous question.
Not sure what your school is teaching you.
What If i want my own building? (Same questions)?
You normally lease business premises. You can buy your own commercial building. Most of the time, you can google the listings to see what's available in your chosen area.
Once you start your brand/business, then what?
It depends what your goals are for the business. Do you want to grow the business? Do you want to sustain the business?
Why do you want to go into the business?
Some people start a business to sustain a living. Others build it to deliver a valuable widget. Others do it to fulfil a vision. Others just want the money.
I know to start a business you also need people. How do you even collect these people??? Who are they paid by? Me? What if I'm just starting and have no money? Are they strangers?
Need people is very dependent on the specific type of business. You can be a lone person going out and doing everything yourself (very stressful). You can also have a small team of people you either partner up with or hire.
"Collect" is such a dehumanising term. I hope you treat your staff like people. You hire people the same way you apply for jobs: either do it via word of mouth, advertise privately, or advertise using recruitment agencies.
If you hire people, the business pays for their labour. If you're a sole trader, you pay for them.
If you're starting and have no money, you have 2 options: either bootstrap your business and work on a shoestring budget (involves you being very creative) or raise the money (bank loans, loans, equity, etc.)
I don't know what your school is teaching you. From the above, it seems you're lacking in even the basics.
I recommend reading the following 2 books just for you to catch up on things:
•
The Personal MBA: A World-Class Business Education in a Single Volume by Josh Kaufman
•
The Ten-day MBA by Steven Silbiger
If you're doing a GCSE in business, the above should have been covered. If you're doing A Level business studies, the above definitely should be covered.
I know this is a year old but I just want to thank you for all this information - I found it incredibly useful. I'm so lucky to have come across this thread.
lemme introduce myself. I'm on a gap year rn and will be studying Computer Science at Uni in Sept. BUT I'M interested in owning a business in the future (ideally straight after Uni) so I want to gain as much as knowledge as I possibly can before finishing uni.
Do you have any recommendations for me? What should I do be doing now and even whilst I'm at Uni to best prepare for the future?
Also, I didn't choose to study Business at Uni cuz I felt like getting a degree isn't necessary to be a successful entrepreneur and I could gain the same knowledge even if I didn't study it at Uni. I chose Computer Science cuz it's a challenging degree and it's got lots of problem solving which will help with entrepreneurship.
Pls lmk if you have tips for me, any mentors that you know of, anything at all.
Reply 5
Hi,
the link doesn't work. I really want to watch it. Is there any other way I could watch it.
the link doesn't work. I really want to watch it. Is there any other way I could watch it.
Original post by Sha.xo527
I'm studying business at my secondary school, but they never taught me the mere basics. I'm just curious and I'd like to know more as to what to do. Sorry for all the questions:
Let's say I want to create a brand:
What are the first steps of creating a brand?
Do I call/tell anyone specifically to say ''I want a business''. Do I even say that?
Where do I go? By this I don't mean which city would give me the most opportunities, I mean is there any random building people go to to say ''I want a business''?
What If i want my own building? (Same questions)?
Once you start your brand/business, then what?
I know to start a business you also need people. How do you even collect these people??? Who are they paid by? Me? What if I'm just starting and have no money? Are they strangers?
I am so confused... I wish school taught me these kinds of things. I need people to tell me exactly what to do step by step, not make me spend 3 lessons on market research without even telling me how to start something first.
Let's say I want to create a brand:
What are the first steps of creating a brand?
Do I call/tell anyone specifically to say ''I want a business''. Do I even say that?
Where do I go? By this I don't mean which city would give me the most opportunities, I mean is there any random building people go to to say ''I want a business''?
What If i want my own building? (Same questions)?
Once you start your brand/business, then what?
I know to start a business you also need people. How do you even collect these people??? Who are they paid by? Me? What if I'm just starting and have no money? Are they strangers?
I am so confused... I wish school taught me these kinds of things. I need people to tell me exactly what to do step by step, not make me spend 3 lessons on market research without even telling me how to start something first.
I;ve nearly finished Btec business and learned about developing a marketting campaign, this is stuff after you've set up and how to make yourself know.
You need to what you're business will be about and you're target audience. Who is the product/business aimed for, why, what does that age group like. What social media would they use.
For example, if you were doing beauty products, the target audience would be teenagers and young people, they might need it for work or school. Social media channels they would use would be TikTok and Instagram.
Now thats figured out, you will be able to make the plan. Look into ways for if you could hire someone to do the social media advertising, if not you could do it yourself.
Make a social media account that follows your audience e.g.
Facebook - age 40+
Instagram 13-25
TikTok 13-19
YouTube 13+
X (formerly known as Twitter) 30+
These are just estimations.
Make sure you set up with your business name, location of shops or online links, public account etc. You will probably have to pay the social media for advertisements and sponsorships.
If you want TV advertisements or newpaper/brochure you would have to contact whoever like BBC or Daily Mail etc.
The more you push out content about your business the more people will be aware of it but dont overdo it because people will says 'oh, its that advert again, or that business again' and you dont want to gain a bad reputation.
Hope this helps
Original post by Fndjdidisjb
Hi,
I know this is a year old but I just want to thank you for all this information - I found it incredibly useful. I'm so lucky to have come across this thread.
lemme introduce myself. I'm on a gap year rn and will be studying Computer Science at Uni in Sept. BUT I'M interested in owning a business in the future (ideally straight after Uni) so I want to gain as much as knowledge as I possibly can before finishing uni.
Do you have any recommendations for me? What should I do be doing now and even whilst I'm at Uni to best prepare for the future?
Also, I didn't choose to study Business at Uni cuz I felt like getting a degree isn't necessary to be a successful entrepreneur and I could gain the same knowledge even if I didn't study it at Uni. I chose Computer Science cuz it's a challenging degree and it's got lots of problem solving which will help with entrepreneurship.
Pls lmk if you have tips for me, any mentors that you know of, anything at all.
I know this is a year old but I just want to thank you for all this information - I found it incredibly useful. I'm so lucky to have come across this thread.
lemme introduce myself. I'm on a gap year rn and will be studying Computer Science at Uni in Sept. BUT I'M interested in owning a business in the future (ideally straight after Uni) so I want to gain as much as knowledge as I possibly can before finishing uni.
Do you have any recommendations for me? What should I do be doing now and even whilst I'm at Uni to best prepare for the future?
Also, I didn't choose to study Business at Uni cuz I felt like getting a degree isn't necessary to be a successful entrepreneur and I could gain the same knowledge even if I didn't study it at Uni. I chose Computer Science cuz it's a challenging degree and it's got lots of problem solving which will help with entrepreneurship.
Pls lmk if you have tips for me, any mentors that you know of, anything at all.
I'm glad that you found this useful. Technically, the thread's 3 years old, but it's a minor detail.
BUT I'M interested in owning a business in the future (ideally straight after Uni) so I want to gain as much as knowledge as I possibly can before finishing uni.Do you have any recommendations for me?
Depending on who you ask, owning a business is different to starting and running a business. If you mean owning a business, do you intend to let everything be streamlined and automated?
In terms of gaining knowledge, there is a plethora of sources that you can look into. However, if you just want the fundamental theoretical knowledge most people get from a business degree, then consider looking into A Level Business Studies (any exam board) or consider doing CIMA BA Certificate (see: https://myfuture.cimaglobal.com/the-cima-certificate-in-business-accounting/)
If you want courses on specific aspects of business, then you would need to be specific. I follow a long list of entrepreneurs, businesspeople, and business theorists, all with different takes and specialisms. It will take a long time for me to narrow things down.
What should I do be doing now and even whilst I'm at Uni to best prepare for the future?
•
Gaining working business knowledge from the sources either mentioned earlier in the thread or from the qualifications above (you don't need to sit the exams, just read the material).
•
Network with as many business people and professionals as you can - business is a teams sport, and the more people you know who you can rely on, the easier it will get. At the very least, I would recommend finding a business mentor to help you through the initial years.
•
Attend university entrepreneurship programs or workshops - personally, I consider them to be of limited help, but what it does introduce you to is the plethora of resources available for small businesses. They are also decent places to find people who are willing to support entrepreneurs.
•
Federation of Small Business - it's my go to for business and legal advice. It's a nonprofit and there is an annual subscription of about £195, which is a bargain in terms of legal and accounting fees you would pay for the same advice. See: https://www.fsb.org.uk/join-us.html. (I would join up to a year before you are ready to start your business, not years before though.)
•
I think it's also a good time to do a lot of self reflection regarding your business e.g. why do you want to start a business? What would your business be in (I don't assume that you are just interested in the IT sector, since you can almost go into any irrespective of your degree)? How do you want to set it up? What would you need to set up such a business? Where do you see the business going in X years' time?
I didn't choose to study Business at Uni cuz I felt like getting a degree isn't necessary to be a successful entrepreneur and I could gain the same knowledge even if I didn't study it at Uni
I agree. What you would find if you speak to some of the business students at uni is that a lot of the information that they do give you are theoretical and that you are more or less repeating A Level Business Studies.
In fact, a number of big name entrepreneurs don't have degrees or barely have O Levels/GCSEs. Some of them are as young as 7. Although the exceptions aren't the norm, it's becoming pretty common now.
So long you know good sources of the information that you need to run a business, then you can almost say it's a good substitute.
I chose Computer Science cuz it's a challenging degree and it's got lots of problem solving which will help with entrepreneurship.
That depends on the type of problem. If it's a technical problem, then I have little doubt the skills in a computer science degree would be of benefit (especially if it's to do with maths). If it's a people problem, then you tackle it differently.
I'd take it step-by-step.
First, research your industry, target market, and competition to define your brand identity.
Then, register your business and establish a legal structure.
Securing funding, either through investors or your own savings, will be a must. As you build your team, focus on hiring skilled, reliable people who align with your brand's values. And don't forget to prioritize online reputation management, so monitor your digital presence and address any issues.
Btw, I think that taking entrepreneurship classes can also be helpful.
First, research your industry, target market, and competition to define your brand identity.
Then, register your business and establish a legal structure.
Securing funding, either through investors or your own savings, will be a must. As you build your team, focus on hiring skilled, reliable people who align with your brand's values. And don't forget to prioritize online reputation management, so monitor your digital presence and address any issues.
Btw, I think that taking entrepreneurship classes can also be helpful.
(edited 11 months ago)
Reply 10
Oh, it's a very time-consuming and complex process, but it's very important not to rush and to work on each step carefully. There is a lot of good advice here, and I'd like to add one more. When it comes to software, there may be a need to create a custom one. Yes, it will cost you, but it's better to spend money on something that will satisfy all your needs and benefit the business. Here is one very informative article https://ddi-dev.com/blog/it-news/software-development-project-plan-a-full-guide-2024/ which provides information about creating a software development plat, questions you need to think about and so on. It's a very important step, and it's better to know some info about it in advance.
(edited 10 months ago)
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