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lamont
07-02-2006, 10:20 PM
Hi everyone, few questions. I am 20 years of age and have a few questions that hopefully some members of the forum could help me with.

Firstly when setting up a business, what do people think the best methods are, meaning which either a retail shop or a website???

As I am only 20 is there much hope for people to take me seriously in starting my own business. I have never liked working for other people in any job, and usually come up with little business ideas.

I strive to be my own boss and have my own chain of shops, I have high hopes and want to work hard to achieve any goals in my mind.

Thanks all, any help welcome.

Widgey
07-02-2006, 10:27 PM
Well no doubt people will probably tell you that you should start an online store, but I wouldn't if I were you!

I'm 20 as well and when I was 18 after working for 3 years in a shop, I thought it would be a good idea to start my own and created a business plan and took it to the bank and they said YES!! to my amazement!

But after sitting and thinking about it, I didn't really want to do it, so scrapped the idea!!

But whatever you do, don't let age be a factor! You're not exactly without work experience at all by the age of 20, so go for whatever you want to do!! Just do it better than other people!!

Wish ya all the best

Paul

lamont
07-02-2006, 10:31 PM
thanx for the reply, what was your business idea sorry to ask? Ive seen a few articles bout writing a business plan all seems a little confusing thats why I have sort of kept putting things off thinking theres no way I could do it, but theres always something there that keeps the my business ideas in my head.

Baz Hillen
07-02-2006, 10:41 PM
Originally posted by paulmorrissey
Well no doubt people will probably tell you that you should start an online store, but I wouldn't if I were you!

I'm 20 as well and when I was 18 after working for 3 years in a shop, I thought it would be a good idea to start my own and created a business plan and took it to the bank and they said YES!! to my amazement!

But after sitting and thinking about it, I didn't really want to do it, so scrapped the idea!!

But whatever you do, don't let age be a factor! You're not exactly without work experience at all by the age of 20, so go for whatever you want to do!! Just do it better than other people!!

Wish ya all the best

Paul

Hi Paul

Just curious why you wouldn't start an online store ? can be a relatively straight forward way of entering the business/entreprenurial world for younger people.

Regards
Baz

Inzvestor
07-02-2006, 10:42 PM
The right answer will depend on the industry you are in.

You don't always need an online store, and in many instances companies have no online presence at all. Whilst this may hamper future growth opportunities, many bumble along without it..

What industry are you hopeing to operate in?
What is your target market?

These two questions should help determine the path you take.

lamont
07-02-2006, 11:03 PM
Hoping to get into the designer fashion market ie, Diesel, Playboy, Miss Sixty, Evisu, Replay. Aiming at the 18+ market trying to offer something new etc.