Ryan Weir founded his business venture in his late 20’s. While
experience is a very important factor in the business world, if young
people possess an entrepreneurial spirit and a great work ethic, they
can successfully develop a venture fairly early into their professional
life, or maybe even during their teenage years.
Business Structure
One
of the first things that needs to be considered is business structure.
Do you want to create your business alone, or do you want it to be a
partnership?
Business Plan
A quality business plan
addresses all of the important questions that need to be answered in
order to find early success, which is key. The business plan has to
involve the mission of the company, the value it wishes to represent,
the specifics of the targeted customer base, the direction it wants to
follow, and even a basic assessment of the competition, another major
reason why many companies fail early into the process.
Business Network
Any
up-and-coming business needs to build its own network. This includes
planned networking events like a product introduction, but also basic
advertising like the creation and distribution of business cards and
flyers.
Logistics
What are the logistical
requirements of your company? Do you have a top-notch physical location,
or an existing online presence? It is very important to figure out the
logistics, as it is often this aspect that makes or breaks an
up-and-coming business.
Ryan Weir has first-hand experience about the steep requirements that new companies have to meet in order to survive and grow.
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