23 year old wanna be entrepreneur! HELP?

will.in.cork

Hey. I am a 23 year old graduate of Chemical Engineering and just back from travelling. At the moment I work part time in a shop and have been applying for a job for quite a while now even when travelling to use my degree with no luck. Business has always interested, especially online as its low start up cost and flexible (correct me here if I wrong).

My question is how do I go about become an entrepreneur. Yes a very very vague question! But my plan is to get a full time job with or without my degree, I have an interview next week without my degree, generate some savings and either design and sell my own product online or else take an existing product and sell that or else provide some sort of a service. The key is finding a niche in the market so I’m told which I’m trying every day. All I need is a few helpful tips some all ye intelligent people out there!:rolleyes:

P.S. Apologies about the long post. Thanks in advance.:cool:

SolarNexus

Hey, I'm 25 and just recently graduated in a similar position in so much as I am currently in the process of starting up my own business.

Now, while I'm sure the rest of the members in this forum will be more helpful than I, it goes without saying to check out the stickied posts in this forum at the top, but here's my 2c:

Find something that people want to buy, that you can sell them, and sell it to them.

Finding a niche is hard, but if you are the customer its much easier. For example, target people like you with similar tastes or sensibilities, then you know the market, the the demographic and countless more invaluable stuff that otherwise you would have to learn. You'll already have a leg-up. If your a computer nerd, target nerds/geeks; if your into something else, focus on that.

I would like to discourage you from designing and trying to sell your own products if possible, unless you are experienced in either the designing or the selling or both. Its a very hard task releasing products into the market these days, particularly because its so saturated with so many ideas that unless yours is truly a breakthrough, it'll be hard to make much of an impact. Take a look at any dragons den episode with inventors in it, they rarely make an investment for this very reason.

As for starting online, well I'd say its a misnomer to say its cheap to start a business online - it sure can be, cheaper than any other way, but if you don't know how it works (buying web space, getting a website developed etc), the costs can soon mount up (a well made website can cost upwards of 2,000 eur). So I guess what I'm saying is if this is the route you want to go down, really investigate it thoroughly first, there's a huge number of cowboys out there trying to be web designers and will quote you anything to get the job and just screw you over. Incidentally I know some good web designers if you want to go down that route, I can put you into contact if you like.

I think that's all for now, I'll just close this off with saying that if your going to go into business for yourself, do yourself the biggest favor you can do and only go into business if the work your going to do is something you love. You need to love what your doing to push through the last mile stretch(es) and to be that 10-20% that actually succeed instead of fail. Plus it'll be much more enjoyable if you like what your doing instead of just chasing the pot of gold.

hope that helps

ezeway

I suggest you to start with affiliate marketing and see how you get on. It's definitely cheapest way to start something online.

Poly

I would suggest a business area that would compliment your qualifications,
did you specialise is any area of chemicals?
There's a few niche opportunities in certain industries.

will.in.cork

Hey guys,

Thanks for the replies! Plenty of food for thought! I'll try out the ideas given.

- Take up some new hobbies and you'l start seeing business ideas in them

KroITsolutions

I would suggest you start by developing a sound business plan. The development of the plan will really make you think, and give you a good foundation on which to build the business. It will help you to discover what it is exactly that you want to do.

byrne0f56789

Just do something that you enjoy. Also, keep an open mind and remember that you can't please everybody all of the time. You just need enough people to like your product to make a profit. Even if it's only 1% of the population.

will.in.cork

GREAT replies guys!

Keep em coming!

Deleted User

Deleted User wrote: »

- Take up some new hobbies and you'l start seeing business ideas in them

This man is talking sense, listen to him. It's true.

will.in.cork

will.in.cork wrote: »

GREAT replies guys!

Keep em coming!

Is that sarcasm by the way???

PhatPiggins

Deleted User wrote: »

This man is talking sense, listen to him. It's true.

How is your own thing going? You were very gung ho there for a while.

Sorry to hijack the thread OP.

will.in.cork

Romalda wrote: »

Find a Network Marketing company that you like and start there. Low joining cost (sometimes none at all) and it will all depend on your efforts and learning skills. I think that's a good start

Romalda;
Is that the same as affiliate marketing? Just done a quick search on it and it seems to have the same concept. Have you done this before?

Cheers for the reply.

PhatPiggins

PhatPiggins wrote: »

How is your own thing going? You were very gung ho there for a while.

Sorry to hijack the thread OP.

I'm working in an industry that I'm passionate about which is good and is teaching me all I need to know. However i'm not an entrepreneur though, yet.