2 16 Year olds want to do something ..

Discussion in 'Starting a Business' started by Entré, Jan 10, 2010.

  1. Entré

    Entré
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    Hi
    I am Liam Doherty and I am turning 16 in around 20 days or so. My friend is already 16 at the moment. We recently started our 5th year at high school - In Scotland - but have left.

    We are both going to college though in February to do computing.

    Now what we want is a great life. Rich. We want adventures ect. Now we would settle for a good job, nice home in Scotland but we want to risk it all and live.

    So we want to make a business, a profitable business. So I had an idea - one that could work. I was recently holidaying in Egypt and I got to know the locals, they are very friendly and the sun is great. The place is awesome. I love the country. I spoke to the locals who worked at the hotel, and they were paid £300 LE Egyptian pounds a month. Which is £35 rougly. Now that is NOTHING. Honestly. I felt sorry for them, but now I can see opportunity.

    So we plan to work for a year while college, and then next year we should have like 15-20k combined which is: 130K In Egypt. That is enough to do SOMETHING with.

    We were thinking;

    • Make a factory, and distribute products for companies in UK, USA, Canada or AUS.. Any of those
    • Make our own product and distribute it there or abroad..

    To be honest, that is all we have. And even then we are inexperienced and wouldn't know exactly where to start. But hey, we can do it. We know we can.

    So do you guys have any advice or ideas for us? Help.
     
  2. Fergal

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    Liam I admire your drive and ambition and I sincerely hope that it works out for you. I'd love to be 16 again and there is a huge world of opportunity open to you.

    In relation to where you would start, I would suggest that you try to focus on a business that interests you. The fact that you are both going to study computing would suggest that you have an interest in that area. Starting a business in a field that interests and inspires you and where you have some knowledge, will make life easier and give you more commitment to your business.

    Would you consider starting a business in the computing / IT field?

    Have you got any hobbies or interests that you could develop into a business?

    I know from some of your previous posts that you have owned forums in the past. Have you considered establishing and developing an online business?

    Are you determined to operate your business in Egypt or are you open to other opportunities at home and abroad?

    If you can please post back with some of your thoughts we will do our best to help you and point you in the right direction.
     
  3. DEADMAN

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    I suppose it's still the time that you both get on reading and gain more education status. I believe computing is a best source of income in near future. You may start with,
    - Computer Repairing Business
    - Computer Software Selling
    - Selling Music, DVD, Movies etc.
    - Computer Programmer or Teacher.

    All the best as you may need more instruction on using that much amount of money. Be wise and read well.
     
  4. Entré

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    Thanks to you both, I am thinking about everything that you have said.

    I am not determined to operate in Egypt however, it will be a lot cheaper.

    With the correct investment I suppose that we could start an ISP. The ISPs in Egypt have very poor connections and we could try and bring them our technology.

    There is a whole lot of research I have to do over the next year.
     
  5. Fergal

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    I admire your ambition Entré, good for you. You might consider other low cost countries in addition to Egypt. Countries like China and India have huge markets with increasing interest in the Internet and low cost bases.

    Good luck with everything and please post back occasionally to update us on your progress and to ask any business questions you may have.
     
  6. Deborah

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    Find a need

    You're on the right track. You can find so much information on the internet these days that you really can learn what you need to, to start a business.

    My advice is, as you go about using computers and learning about them, look for a need, something that you wish worked a certain way, something that you might be able to solve for other people. If you have the need, so do a lot of other people.

    For instance, a friend of mine was stuyding for an architectural certification class. There were no reference books to help pull all of the information together so that he had one big reference to study. So as he found information he needed to study for the class, he started compiling it into a study guide. Once he passed the test, he started selling the study guide to others who were taking the test. It was hugely popular!

    Look for a need to fill.
     
  7. Entré

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    I will Fergal and thank you very much Deborah for that.
     

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