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Ask HN: Advice for a 17 year old

2 points by Scottles 14y ago

Hey there guys and gals, I've been a fairly frequent reader here for quite a while, and I wondered if anyone could shed some light. I've been out of work for the past year, and I wondered if anyone had any practical advice, or resources they could point me towards, as I'm looking to create a small startup. (Background with marketing/drop-shipping amongst other things) I'm not sure what I want to do, but if anyone could give me some wise words, or point me in the right direction it would be greatly appreciated. My apologies in advance if this isn't the way posts are usually done here.

arkitaip 14y ago
Why do you want to start your own business? How would you define the success of your business (lots of money, lots of free time, individual growth, being able to do something you love despite financial hardship, etc)? If you're strapped for cash my advice for the near future, 1-2 years, is to get a job/freelancing gig with a steady income. This gives you the resources to peruse your business dreams on your spare time without having to constantly experience poverty. Because it takes months to launch a business and even longer before it becomes profitable. As for the business you want to start, research (including business prototyping, e.g. testing business ideas in real-life but on a small scale) the hell out of the industry/niche you're getting into and base your business ideas on hard data; only execute on the best idea and do so furiously. No one has THE formula for finding great business ideas but you will need a structured approach for evaluating your ideas, preferably so that you can be reasonably sure (at the very least more accurate than a coin flip) that it will be successful per your wants (x income per year? Six months vacation per year? Millionaire within x years?). Sometimes the best you can do is to realize that a certain idea should be abandoned (e.g. market too crowded, profits too small).
- Scottles 14y ago
  I want to start my own business so I can learn new things, and improve on skills I already have. I'd define it as having been successful (short-term) if it provided me a semi-steady income, and I was enjoying myself.. And if I was able to save up enough to head abroad for a year at 18, as it's something I have always been passionate about. I understand there's no quick fix, I was more looking for some good advice on where to start. :)

2 points by Scottles 14y ago

arkitaip 14y ago

Why do you want to start your own business? How would you define the success of your business (lots of money, lots of free time, individual growth, being able to do something you love despite financial hardship, etc)? If you're strapped for cash my advice for the near future, 1-2 years, is to get a job/freelancing gig with a steady income. This gives you the resources to peruse your business dreams on your spare time without having to constantly experience poverty. Because it takes months to launch a business and even longer before it becomes profitable. As for the business you want to start, research (including business prototyping, e.g. testing business ideas in real-life but on a small scale) the hell out of the industry/niche you're getting into and base your business ideas on hard data; only execute on the best idea and do so furiously. No one has THE formula for finding great business ideas but you will need a structured approach for evaluating your ideas, preferably so that you can be reasonably sure (at the very least more accurate than a coin flip) that it will be successful per your wants (x income per year? Six months vacation per year? Millionaire within x years?). Sometimes the best you can do is to realize that a certain idea should be abandoned (e.g. market too crowded, profits too small).

Scottles 14y ago
I want to start my own business so I can learn new things, and improve on skills I already have. I'd define it as having been successful (short-term) if it provided me a semi-steady income, and I was enjoying myself.. And if I was able to save up enough to head abroad for a year at 18, as it's something I have always been passionate about. I understand there's no quick fix, I was more looking for some good advice on where to start. :)