Forums: Discussions for entrepreneurs and small business.

Hey, what`s up guys? I`m from the Philippines and I`d just like to get your feedback on this, and any suggestions or advice are welcome.

Ever since I`ve started learning about entrepreneurship, I`ve always been excited about a particular segment of it: Cooking up business ideas. Within this month, I`ve probably thought up at least 4-6 ideas. My ideas aren`t kooky or anything, they`re actually very realistic and possible.

Based on the aforesaid, I`ve been thinking about starting a business revolving around it. I don`t think I`ll start selling ideas, because I know ideas are worth NOTHING. What I`m thinking about is creating an idea development center for young and aspiring entrepreneurs.

But here`s a problem: I`m only 19yrs. old and I don`t think anyone would believe me. Even though my ideas and insights are highly thought of by both my peers and mentors alike, I doubt that other people would trust me.

Does anyone have any advice on how to get over this "credibility obstacle"?

Thanks!


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Dimitri Roleda, dimitriroleda@gmail.com

It`s not easy, other than by getting older.

But a proven track record is definitely the most important thing, offer your services at a reduced rate to a few projects you think you`d enjoy working on.

Make them a success, get a testimonial, simple huh?

Honestly, the problem isn`t age in itself, it`s acquiring enough proof that you`re worth the investment.

Best of Luck...


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All right, thanks dude.

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Dimitri Roleda, dimitriroleda@gmail.com

Actually, creating an Idea Center would be fairly easy to accomplish, and with the right marketing could quickly turn into a money-maker. I`m thinking back in history to something called "Junior Achievement." This was (and is still) a way for adult business people to encourage young people to develop and engage in business.

Now consider that the people who organized and run JA grew up in a world prior to the Internet. Then consider the generation gap. Young people traditionally distrust older people, and tend to turn to their own peers and age group for "the truth" about things.

Bring it together, and you could build a Web site along the lines of Startup Nation Jr., or "MySpace" for business. In this case your age would be an advantage and a selling point. You`d have the "street creds" of being not only in the right age group, but having the business savvy to connect people to others.

The site might focus not so much on actually building a business right this instant, but on the preliminary aspects of business. So for example, a 19-yo has just finished high school and is going off to college. A 22-yo is in college, getting ready to finish. IF either of them have an active interest in business, this site of yours could connect the two for help in developing a business plan, basic market feasibility studies, and so forth.

Now consider the implications. If you can gather together a large volume of people in a demographic between 17-25, all focused on a future in business, imagine the advertising revenues you could bring in! ANY company would be looking for smart, savvy young people, already geared toward a business mentality!

Another area marketing companies constantly are searching is "what`s hot" for the younger folks---a large buying demographic. A secondary aspect of your Idea Center would be to provide an outlet to marketing companies for surveys on potential products. If your site population is heavily weighted toward people with a professional attitude, all of whom are in the "young generation," the site itself could provide feedback on which products are `cool` and which are not.

So instead of being the one giving advice and the likes, I`d be creating a network which allows the people in it to help each other. Kinda like this community we`re in, right? That`s an appealing path, but then all my revenues would be advertisement-based. I guess I could use that as a means to gain credibility and extra money.

I actually want to be the one actively involved in the counseling. I want my business` core product to be consultancies and networking as an augmented product.


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Dimitri Roleda, dimitriroleda@gmail.com

You would initially be an idea broker. You`d be bringing together people with complimentary ideas who otherwise wouldn`t know about their mutual existence.

For now, although you may want to be in the counselling side, you`re just not old enough to have the credibility. You could counsel young folks on issues directly related to youth, but not much else. With age DOES come experience, and advice without experience, knowledge, and wisdom, usually has little credibility.

Why not make your money first, acting as a broker of ideas, taking the advertising revenues, and also selling your demographic organization to companies looking for such groupings. Then, as you`ll be living and growing older during the process, when you have the capital to set up a more widespread counselling network, do so.

At 19 you`re going to have a hard time convincing 50-yearold business consultants that they should enroll in your network as the best venue to reach CEOs, CIOs, COOs, and executive level management people; the decision-makers in business. Since many entrepreneurs in today`s environment are older, having left lifetime careers, you`ll likely have credibility issues there as well, as a consultant.

Age ain`t nothin` but a number!!! Great people do great things atr any age. Good luck!!!

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www.EllayWestConcepts.net Ellay West Concepts (Freelance Commercial Writer)

Consider Alexander the Great, taught by Aristotle, who began his career at 16, and was proclaimed King of Macedon, by the army, at 20. Granted, it`s a different world these days, and being a world conqueror is harder than it used to be. But there are still lots of other ways to become accomplished. :-)

Interesting choice for a historical figure `cause Alexander the Great is actually my leader of choice. Granted, he was bull-headed but he was decisive and firm, he had character. I`ve actually learned a lot about the Do`s and Don`ts of leadership from studying about him and his endeavors.

So okay, it`s set. I`m going to create an online community such as this one, but then can anyone give me an estimate on how much I could earn from this type of business? Worst case please.


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Dimitri Roleda, dimitriroleda@gmail.com

Worst Case?! Ha! Worst case is that you`ll spend hundreds of hours working on your project incur a sizable debt, and then it will be a miserable flop. Is that really what you wanted to hear?  I didn`t think so but it`s something you will have to consider.

Follow the 10 steps to starting a business here. Talk to the higher ups here and you`ll continue to get advice from a lot of brilliant people such as Craig. Don`t be worried about your age. Age doesn`t even have to enter into  the conversation. People can find out how old you are when they finally meet you. Let them be surprised.

Craig is spot on with his advice. You`d do well to listen to him. 

Best of luck to you.

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~Eric
JE Design Group, LLC
If all you do is what you`ve done, then all you`ll get is what you`ve got.
www.jedesigngroup.com