How Should She Start This Small Business?

I met a young entrepreneur who saved about $7000 and left her job as a admin assistant making about $10/hr. She told she has a full business plan ready to go and she has some potential commitments from local investors about her new venture.

A few people in her family own bakeries so she wants to start a small shop just selling the goods (not preparing). In addition to desserts and fresh baked good, she wants to have a huge selection of international drip coffees.

I told her that the best advice I would give is to be sure that she has a second option that will bring in steady cash flow because business is not predictable, especially for start ups. I also told her that it is very noble of her to pursue her passion. We spoke more about solidifying her plan. What advice would you give this young entrepreneur?

Let's talk about it!

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You Are An Entrepreneur. Do You Believe That?

Everyone, everywhere has some kind of talent or special skill in some area of their life. Although most people have great talents and skills, they settle for a job in mainstream America. Working a 9-5 or working for 40 years for retirement.

If you have a great talent, you have a great business. Don't think of this in terms of Microsoft or Google, but think of it as that special niche that you can provide to the world better than anyone else. If you have never considered starting a small business, think again. When you develop your talents, you are growing your business. When you clock-in and out at your day job for a small pay, you are gathering start-up money from your investor.

Most people will scream when thinking about the risks of leaving a stable job to start a small business. Some people will think twice about why they work 30-45 dollars a week for another company; to increase their profits. Then there are those who realizes their natural talent and begin to use it to create value for people in the world.

My views on youth entrepreneurship is that everyone has some kind of talent and if they can discover what it is, and perfect it, customers will be eager to try their products and services. Aside from the talent or products oferred, one must study the basics of running a business, or outsource most functions.

I'm not saying to quit your job but if you love what you do, do it well. If possible, find customers who will pay you directly for what you can do. If you hate what you do on the job, you may hate it because it isn't your passion. Keep working at that job, but use it as source of income until you operate your business on the side.

The downfall to the fearful is that you may have a talent, product or idea that could revolutionize our world, but the courage to fulfill your dreams are drowned by the need for a simple paycheck. If you create something that people desire, they pay you to create more things to fulfill their needs.

Are you an employee or an employed entrepreneur? Let's talk about it!