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Creating a business is not for everyone and you're not lazy or horrible if you do not want to create a business (the article also says this). However, I think the article is worth reading if you are a member of this generation and if you are thinking about starting your own business. The article does mention that brick-and-mortar businesses are pretty difficult, but there are some businesses which require less start-up funds.
Creating a business is not for everyone and you're not lazy or horrible if you do not want to create a business (the article also says this). However, I think the article is worth reading if you are a member of this generation and if you are thinking about starting your own business. The article does mention that brick-and-mortar businesses are pretty difficult, but there are some businesses which require less start-up funds.
Thanks for the article. I'll take a look at it in a bit.
I started a small business growing up, quite by accident. Unfortunately, expanding would require a crap-ton of capital and a crap-ton of usable land and nobody was willing to give a 15 year old girl a loan
I would love to start up in the dairy business again, but regulations have gotten so stringent that it's nearly impossible to keep up. Plus, land and taxes kill most of your profit.
Seed money is tough to get these days. I already have a part-time business I've been doing for a few years. Getting money to expand is next to impossible. I've looked at a few franchise opportunities as well. The thing is a lot of your business owners that start up were all ready making a comfortable living wage salary prior to starting up their businesses. Getting an angel investment company, a bank, or even a relative to lend you money when you can't even get hired for a minimum wage job is a tough task. Getting a business loan is like getting any other loan, they want to see your income.
I've been in the process of starting my own business, but unfortunately it's one that takes a while to become profitable... I'm breeding exotic snakes, and unless you have HUGE start-up funds, you have to build up your collection from the bottom. Hopefully in a few years it'll start to turn a profit, and then I'll be getting paid for doing something I love - doesn't get much better than that.
I've also thought about starting a pet-sitting business, since I've been doing the work for 10+ years (with a large company), and it's always in high demand. But I honestly don't think I have the business sense for that, so I'd probably need a partner to help with certain aspects... mostly the finances/legalities and client scheduling, since I can see myself getting lost in those details.
Sarting your own buisness is an overated pipedream for the vast majority of americans imo.Be pepared to fail and operate at a slim or negative profit margin.Most of the lucrativre startups are already in the works by a venture capitalist who has much more money and experience in starting and maintaining a profitable buisness.
Sarting your own buisness is an overated pipedream for the vast majority of americans imo.Be pepared to fail and operate at a slim or negative profit margin.Most of the lucrativre startups are already in the works by a venture capitalist who has much more money and experience in starting and maintaining a profitable buisness.
The key word above is DREAM... it is a dream for many people, and you can't succeed if you don't try! I don't recommend putting your life savings into a business, and obviously you need to understand the risks - but some people are willing to take the risk, as the payoffs can be great. Maybe not financially, but who doesn't want to be their own boss, and make a living doing something they love?
Keep in mind, there are also many different "business ventures" one can attempt... and some are less risky than others. For example the snake breeding I mentioned above, which is essentially a hobby that I'd be investing in regardless. I'm already keeping and caring for these animals, and just hope to turn a small profit (or at least cover the expenses) by selling their offspring. I'm not looking to make millions, and will probably still keep my day job.
Sarting your own buisness is an overated pipedream for the vast majority of americans imo.Be pepared to fail and operate at a slim or negative profit margin.Most of the lucrativre startups are already in the works by a venture capitalist who has much more money and experience in starting and maintaining a profitable buisness.
I disagree. Who at the outset has the resources/time to compete on a large level? Most businesses in most economies are SME (small and medium enterprise) so there are plenty of niches available. My dad runs a defensive driving business, and it's unlike a venture capitalist will buy him out lol. Venture capitalists by definition seek out high risk/high return projects, or expend large amounts of capital into a new business.
Another thing is that most small businesses in the USA are mom and pop stores, 7/11 type places, small offices, etc. No venture capitalist will touch these things for obvious reasons. Not every business idea will be revolutionary or ground-breaking, and frankly not all business owners may reach the big leagues in terms of company size, but that's fine. A business of 50 people, whilst small in grand terms, can still be profitable and be valued highly be a target market.
FYI: My father is a venture capitalist (since retiring from corporate management), and he actually offered to invest in my future business... but you're right, generally he's only interested in larger projects, mostly within the biotechnology field. He normally wouldn't invest in a small-time business, but the rules are different for his daughter.
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