starting a business in high school

Discussion in 'Starting a Business' started by rmwinters8, Mar 19, 2015.

  1. rmwinters8

    rmwinters8
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    Hi everyone.

    There is this guy at my school who, at the ripe age of 12, started a tech company with only $100 to start. I'm not at all sure how, but now, 4 years later, his company is worth nearly $4 million and growing. He was and always has been the sole owner and decision maker in the company, and I just don't understand how he was able to do this at all, let alone at his age. This has led me to want to start a business as well, but I have no experience in starting a company and have no idea how I would go about starting one and running one. I'm not just wanting this because I think it is a way to get rich quick or think it won't require any hard work. I also don't think that the kid mentioned above was anything short of amazing. However, I think I am fully capable of doing it so long as I have the required knowledge, but that's why I'm here. How, with a budget similar in size to the one above, does one go about starting a company? What is the first step? I have an idea, but what do I do with it?

    I would really appreciate if I didn't get any responses that tried to deter me from doing this because of inexperience. I am just asking for ways to start this thing and get some experience under my belt. If it fails, it fails, but it doesn't really matter because I'm a freshman in high school and no failure can knock me down for too long; I'm risking nothing.

    If anyone has any other resources that could help me with this process such as articles, books, or anything else that could provide assistance to me, it would be greatly appreciated.

    Thank you all for your advice. Cheers.
     
  2. Joseph.Shivell

    Joseph.Shivell
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    Because you requested that we not do it, I am not going to try to convince you not to do this because of inexperience. What will do is tell you that you are going into this with the wrong attitude. When the young man you mentioned started his business he probably did not go into it not caring if it failed or not. Of course, failure was, and is for you, a possibility, but not caring whether the business fails or not is not a good way to start. You did not go into the specific type of business he started, but it was probably something he was interested in, so he wanted it to succeed from the beginning, and was willing to do whatever was necessary to make it a success. Are you? It is going to take a lot of time and effort to build your business. Are you willing to make sacrifices, making the business a priority above everything else - except school? This is how you start a business with $100 and build it into a $4 million company. I didn't go into specifics about what to do with your idea because finding that out is your job - not ours. Go to the library and do research. Get books from the local bookstore. Search the internet. Are there any small businesses in your neighborhood, where you can ask the owners how they started? Ask them. You need to be willing to do the work yourself, whatever it takes. Only then are you ready to start your own business. Good Luck!
     
  3. atlantisrocks

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    Don't worry about "inexperience." You will gain experience as you go along. Then you will be "experienced."

    The idea is to do what you like to do, but do it for a profit. Get good at it and start helping others. Start doing things for free if you must. But, get that experience so you can show others what you can do -- what you have done!

    Here are some stories to help you understand what you need to do and how to get started:

    http://yourblackworld.net/2013/09/03/15-year-old-starts-tech-company-hes-now-a-millionaire/
    http://www.businessinsider.com/bow-tie-company-started-by-boy-2014-9
    http://www.inc.com/john-boitnott/40-young-people-who-became-millionaires-before-they-were-20.html
     
  4. daytrader

    daytrader
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    I say go do what you wanted to do, learn the skills you ever want to learn. if you end up liking editing videos, then maybe take a course and make it your business.
     
  5. brickshazel

    brickshazel
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    Its all about about the hardwork. If you really love what you're doing then you would have a brighter future ahead of you. Atlantisrocks is right, you eventually gain experience as you go along. All successful business persons were once "inexperience".
     
  6. sapett

    sapett
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    Your first business is likely to fail without any sort of experience. And so will the next, and the next, and the next. But don't let that stop you! The only way to experience the success the person you described has experienced so far is to 1) learn from your mistakes and failures to gain experience, and 2) enjoy what you're doing and have a passion for it.
     
  7. Ethan2

    Ethan2
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    I don't agree with the idea that just jump in a business without any knowledge about it. My quote is: Understand yourself, understand competitors, win the game!
    Prepare for it, in the first step, work for a company in the factor you like, learn from it. When you have enough knowledge, experience, start your own!
    Regrads,
     
  8. Samuelsemos

    Samuelsemos
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    Before running a business few things you need to consider like, which business you want to start, how much money you have to invest. These two things if you know about your business sure you will go to achieve your goal because it is in your hand to achieve. Once you have started your business experience you will gain experience as you go along.
     
  9. bburkeconsulting

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    Find something that you enjoy, then it doesn't matter how much you make.... then if you can find a niche to make money off it, that's just the icing on the cake.
     
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  10. Annjoseph

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    Before starting a buisness, please be confident to make it success. You should have the clear cut idea about the buisness. Do something different in your buisness. Once you success then you will win in life
     
    #10 Annjoseph, Apr 20, 2016
    Last edited by a moderator: Apr 20, 2016
  11. Host.AG

    Host.AG
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    I am not sure that guy asked anyone how to do it. Just find ideas worth the money and work for them. it is ofcourse more easy to say it than do it, but the world is a big place, I am sure you will find your great ideea.
     
  12. CorporateViking

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    Your first step is going to be something internal. It's understanding what sacrifices are you willing to make to be successful. You will need to put your idea down in paper (or an email to yourself) detailing the whole project from start to finish so that when other people ask, in one to two sentences you can completely explain the project.

    I think you for sure CAN do it.

    There is a concept of numbers that makes this entire scenario really simple.

    Out of 100 people only 5 make it to be independently successful, 1 of which is considered "Rich". This number has already been studied extensively with a single motivating factor. At first you'd think it was the market or the project, those come and go, usually on an S curve. The trick is actually the ability to take intrusive thoughts, that is the random thoughts that pop in your head about movies, relationships, video games, books, etc etc etc, and replace them with thoughts that equate to you growing as a person or becoming more financially successful.

    An easy way to militarize these thoughts is simple by writing your Obituary. It might seem early to do, but simply write your Biggest most Ideal Obituary. When you read back on it, you'll know whats important to you. If in your obituary it didn't say, Was a loving and caring father/mother. Well you know that isn't an instinctual priority for you. If it doesn't say your wealthy, than it's not important to you. Look at what IS important to you at the completion of your life and reverse engineer what you have to do to be there 60 years from now.

    Earl Nightingale
     

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