I am a young teen, who is starting a small business with a friend, and I was wondering if there are any specific pieces of advice you would give me to help me start out.
There is no difference in advice based on age. There are six basic business skills you will need to have, either your own or through hiring help. Knowing that very few business owners ever master more than two themselves, be prepared to find the other talents. Marketing, Sales, Organization, People, Efficiency, and Leadership.
Learn the product needs or business need and update your plans as quickly as possible.
My honest advice - just build stuff online. Get SOMETHING live. You'll find that as you start working on one thing, you'll pivot to another direction, then another direction and your final product will be completely different than what you had originally planned - but that's how innovation happens.
Don't try to copy a specific functionality or aesthetic either - carve your own path, have fun and solve a real problem a real person is having.
Get data and dive in!
Never follow the pack - create your own path.
There are some points to consider for entrepreneurs.
1 - Start a Business you are passionate and knowledgeable about.
2 - Pick a business idea that has a big market opportunity.
3 - Raise much startup funding.
4 - Constantly monitor your finances.
5 - Research competition.
6 - Ask advice from other entrepreneurs.
7 - Hire the right peoples.
8 - Never stop networking.
9 - Provide best customer service.
10 - Hire an experienced startup attorney.
11 - Get comfortable with public speaking.
12 - Focus on building a great products or services.
I'm not sure that you have a job, but I just wrote an article that could potentially be helpful. In my opinion, same rule applies: be prepared!
First and foremost thing you need to understand that is that time and budget are not your friends!
you need to device ways to work around these issues
lucky for you there are now numerous options available for you like hiring freelancer to create your projects, or hiring dedicated team of experts or acquire a ready made solution like white label software
and last but not the least try to develop solution which would genuinely help your customers and solve their problems.
Best of Luck!
Well, you should learn everything that you need to succeed from people who are already successful in the venture you wanna start...Learn from their mistakes,choose your business partners like you are choosing your life partner and learn..
I will suggest that you both be sincere with each other. Put all cards on the table right from the start. Nothing should be hidden to be treated later. Best of luck.
Measure twice, cut once....