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11 Replies Last post: Aug 13, 2009 8:06 AM by phanio

Young entrepreneur seeking mentor!

Jun 25, 2008 5:52 PM

Click to view waacst's profile Professional waacst 3 posts since
Jun 25, 2008
Hello, I am a young man seeking to start a new hobby store in Livingston, Montana.
I have the starts of a business plan but I am unsure where to turn for investors, capital, loans, etc.
Looking for someone possibly to take me under their wing, sort of speak, and looking for a heads up on how I should go about officially inquiring into the matter... The business does not exist at this current time nor have I taken the steps such as a business liscence and such, but I would like to make sure I am taking the proper steps to make sure that it will be possible to accomplish my goal.. before I go about taking the legal steps... Please Help!
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Click to view waacst's profile Professional waacst 3 posts since
Jun 25, 2008
1. Re: Young entrepreneur seeking mentor! Jun 25, 2008 8:10 PM
i guess i better revise this.... just looking for someone to give me pointers and get me started in the right direction! Please Help!!
Click to view LUCKIEST's profile SCORE LUCKIEST 7,912 posts since
Aug 6, 2007
2. Re: Young entrepreneur seeking mentor! Jun 25, 2008 8:20 PM
Young entrepreneur seeking mentor, Welcome.

I am a SCORE counselor and YES SCORE does mentor people in business.

How can I help?? SCORE and I can also help with your business plan.

When do you plan on starting this business??

LUCKIEST
Click to view waacst's profile Professional waacst 3 posts since
Jun 25, 2008
3. Re: Young entrepreneur seeking mentor! Jun 25, 2008 8:48 PM
in response to: LUCKIEST
well to be honest i havent decided when to start yet... i havent gotten that far.. but I know i am not ready to apply for any kind of liscensing or anything.. right now it is simply an idea in my head that I know I want to do and am very serious about... What I am looking for is some help on what I should do to get myself started, what steps I should take... i have never attempted this before and i guess you could say that im clueless!.... i know how to run it but i dont know how to start it!
Click to view LUCKIEST's profile SCORE LUCKIEST 7,912 posts since
Aug 6, 2007
4. Re: Young entrepreneur seeking mentor! Jun 25, 2008 9:01 PM
in response to: waacst
Young entrepreneur seeking mentor

Where to start, Start by developing a Business Plan. A Bus Plan services as a tool
to get you started.
You can get info on a Bus Plan at a Book Store, Library or SCORE.
SCORE is FREE

Again LUCKIEST
Click to view iEntrepreneur's profile Professional iEntrepreneur 3 posts since
May 21, 2009
5. Re: Young entrepreneur seeking mentor! May 21, 2009 4:11 PM
in response to: waacst
Hey, I am a Graduate Student in Entrepreneurship. I have many ideas in my mind but didn't know how to make those an opportunity. That's why I am attending this program, and believe me, it is changing my world of understanding. I know there are prospective entrepreneurs around who have ideas but do not know how to make them big. That is why I have started a system of learning and experience, covering all the aspects of my graduate studies in entrepreneurship deliverable to those young aspiring entrepreneurs. My website is located at http://www.ientrepreneurship.net Please take a look at that and tell me if you need more help. Also, there are no shortcuts to success. You need to know ins and outs of business as well. Everything is covered on there.
Click to view toplayer's profile Professional toplayer 8 posts since
May 21, 2009
6. Advertise your business free in kanelplace.com May 21, 2009 4:13 PM
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Click to view fiorza's profile Professional fiorza 3 posts since
May 19, 2009
7. Re: Young entrepreneur seeking mentor! May 21, 2009 5:09 PM
A good first step is to purchase a domain name for your company. You can also start learning some simple HTML and JavaScript. This will allow you to more effectively advertise your business so that your future customers can easily find you. Also, consider finding a partner with complementary skills. You can efficiently divide tasks, bring different perspectives to challenges that you face, and most importantly share your joys and frustrations as you build your business.

Fiorza Luxe
http://www.fiorza.com
Click to view spacebrown's profile Start-up spacebrown 2 posts since
Aug 12, 2009
8. Re: Young entrepreneur seeking mentor! Aug 12, 2009 3:15 PM
in response to: waacst
These are some tips for for you.
Have an unalterable determination, GRIT in other words
Have a good support system
Have a greater purpose. Just making money is a poor cause.
These three basic tips will help you bootstrap your own business.
Hope To Help!
www.bootstrapbusiness.org
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Click to view TheSoloGuide's profile Mogul TheSoloGuide 104 posts since
Jul 7, 2009
9. Re: Young entrepreneur seeking mentor! Aug 12, 2009 3:34 PM

waacst:


I wrote a recent post on my blog titled, "The Home Based Business: It Is What you Make It".


Here's the link:


http://thesologuide.com/1224/the-home-based-business-it-is-what-you-make-it/


Now although it is titled for a home based business, I give 12 criteria to commit to for launching and growing a successful business. They are:

  1. Create a business that integrates with your life plans of personal and economic goals.
  2. Be passionate about your business and the market that you are servicing.
  3. Build a business that is an extension of your strengths and experience. Know your weaknesses. Have them covered by others, but manage the results.
  4. Research your market (overall industry, competitors and customers). Make sure that the market is large enough to meet your financial goals (determine what phase of the s-curve it is in).
  5. Have a business plan. Create a plan based upon a unique value proposition for your market at a reasonable price.
  6. Make sure that you are well funded.
  7. Get involved within your industry. Build a network of mentors, business associates and joint venture partners.
  8. Know your financial limits. Don't operate beyond your means.
  9. Take action. Stay involved. Don't let your business coast on autopilot.
  10. Provide a consistent, beneficial experience for your customers.
  11. Review your business and market on a regular basis.
  12. Make definitive choices and adapt quickly to the changes in your market.

After reading this, let me know if you have any questions.


Hope this helps.


Doug Dolan

The Solopreneur's Guide

http://thesologuide.com/

Click to view Sassyjo's profile Authority Sassyjo 7 posts since
Aug 5, 2009
10. Re: Young entrepreneur seeking mentor! Aug 13, 2009 8:01 AM
in response to: TheSoloGuide
You know Sologuide, besides number 6 holding me back. I believe mine is sitting on number 9. I'm on autopilot. I don't like that feeling. I have even gone and asked a few business owners if they know of anyone who would like to invest in a small business with me. Well that is in the works so hopefully i will hear something there. I just don't have the funding, but i have everything else. I just have to wait and see.
Click to view phanio's profile Mogul phanio 461 posts since
Apr 7, 2009
11. Re: Young entrepreneur seeking mentor! Aug 13, 2009 8:10 AM
in response to: Sassyjo
If funding is holding you back - how much are you seeking? And, what are the funds to be used for? There are many options for new businesses but they depend on the amount you are seeking and the purpose of those funds.

Business Money Today
www.BusinessMoneyToday.com