As a 18 year old wanna-be founder, what are the next steps?

Business Strategist

As a 18 year old wanna-be founder, what are the next steps I have to take?

Reply Mumbai : 9820174108

DEPENDS on what you would be wanting to do as "founder" and in what field.

Keep Smiling .... Hemant Agarwal


Online Legal Service

To start with any business, few necessary draw clear lines for short term and long term goals.

First, you need to define the activity range. Although, you may include variety of products or services in next few years, you need to focus on one core product or product line that will define the direction of work in next few years. Before choosing core product or product line, survey of demand and actual requirement is necessary.

Know what is your cost. When you start the business, even from home, you have to spend x amount of money. This outflow is required to be anticipated in advance, as it is the base of next step.

Arrange your Finance. After all, money is blood for business. You need to plan how much finance is required to start the business. This will be the first need as without cost and expenses, there is no return. The reliable and sufficient source are required to be found and planned.

Hire carefully. The team of employees or say, co-workers in start-up climb towards business goal with collective efforts. It is not necessary to hire one on full-time basis. If the requirement is temporary, find associates or free-lancers. This will save unnecessary cost also.

Register your business. Business registration is essential and necessary. Business registration provides recognition to your business, which is most essential for its long term growth. Consult a professional to choose correct business structure for your business and its requirements. Registration such as patent, trademark or copyright might also be necessary for your business and do ask and analyse the upsides of such registrations.

Business planning does not end with this five steps, it is ongoing process and also depends on the scale and activity of business.




Your are not logged in . Please login to post replies

Click here to Login / Register  


  Search Forum



Post a Suggestion for LCI Team
Post a Legal Query
Forensics & Evidence     |    x