So you want to know how to start a business at 18 but have no clue where to start. Below is a step-by-step guide that includes the best ways to start a business at 18 in 2022.
At 18, you are just entering adulthood and might be looking for alternative ways to make a living that does not include working 40 hours a week for somebody else.
Starting a business at 18 is not something that can be done overnight. However, if you are willing to put in the time and effort to grow a successful business, this is the article for you.
If you are looking to start a business as an 18-year-old, you will need to identify your audience, create a website, and learn how to advertise on social media. Setting goals and reinvesting into your business are other important aspects of starting a business at 18.
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What Business Can I Start At the Age of 18?
One of the best businesses to start at 18 is a dropshipping business. It’s a great business to start at 18 because you do not need to purchase any inventory until you start making sales.
Dropshipping typically involves finding a supplier and product that you can sell for a marked-up price. However, one thing to consider when starting a dropshipping business is advertising expenses.
Advertising can be done in one of two ways; paid or free advertising. An example of paid advertising would be Facebook ads.
Free advertising would include using social media to promote your product or business. This typically involves spending time growing an Instagram, TikTok, or even Pinterest account to get traffic to your online store.
Most teenagers have more time on their hands than money so using free advertising to start a dropshipping business is usually recommended.
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Can I Own a Business at 18?
At 18 years old you can indeed start and own your own business. You can start whatever type of business you want at 18. Whether this is a t-shirt store, dropshipping business, or even a blog.
Some businesses are easier to grow than others and some require more upfront investment. This being said, there are plenty of online businesses that you can own at 18 and start making money.
How Do I Start a Successful Business at 18?
In order to start a successful business at 18, you need to start learning by doing. This means you need to start getting the experience needed to run a profitable business.
Anyone can binge-watch a ton of business YouTube videos without actually starting their own business. But learning on the job is invaluable and often an unappreciated way of learning.
If you want to start your own successful business at 18 you need to take a leap of faith and start.
Pick a business that you find interesting and learn everything about it. Online businesses are typically the easiest to start and require very little or no upfront investment.
How to Start a Business at 18 in 2022
Here are the 9 best ways to start a business at 18 in 2022.
1. Identify Your Audience
Understanding who your audience is and identifying them is one of the most important steps to starting a business.
Without properly identifying your audience you would not be able to properly market your product or service to them.
For example, if you are selling a product meant for college students you would only want to market to students in college (usually 18 to 22-year-olds).
Spending time or money advertising to people outside your target audience’s demographic would not be worthwhile.
2. Use the Right Accounting Software
Every business has to do some sort of accounting in one way or another. This might be as tracking your business’s income and expenses.
Proper accounting can be a huge help when it comes to making business decisions as well. Overall, accounting helps you run a more organized business.
This is why using the right accounting software can make or break a business. If you are planning on starting your own business I highly recommend using FreshBooks.
3. Create a Website
Public image is very important when it comes to businesses. No matter what type of business you plan on running, you need to create a website for it.
Web hosting is very affordable and is a worthwhile investment to help you maintain a professional public image.
It’s super easy to get started as well. Creating a website for your business could be as easy as picking a theme and creating a couple of pages of content. This would most likely include a homepage page that talks about your business and what its purpose is.
In the age of technology and the internet, a website is most definitely needed. It provides a simple and easy way for your potential customers to learn more about your business and what you do.
4. Advertise on Social Media
Every business needs to be taking advantage of social media in 2022. If you are planning on starting a business at 18 you do not want to miss out on this opportunity to market your business for free.
Social media makes it easy to advertise your business to others without paying a single cent. Of course, some social media platforms are better than others for certain businesses.
TikTok and YouTube on the other hand are more video-focused but can be equally effective marketing tools.
Pick a social media platform that you feel your business can do well on and start learning everything about it.
Feel free to check out our social media articles for more information.
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5. Send Professional Invoices
If you are looking to start a business at 18 you will need to send professional invoices to your clients. Your clients are anyone who might have purchased your product or service.
If you want to start a profitable business, you need to run your business professionally. Using invoicing software like FreshBooks, you can make and send professional invoices in a matter of seconds.
At 18 you most likely do not have a ton of money to invest in a business. If this is the case, consider starting a dropshipping business.
With a dropshipping business, you do not need to keep any inventory on hand. The only time you ever need to purchase inventory is when you get a confirmed sale.
It’s not nearly as hard to start a dropshipping business compared to other online businesses available. Most simply start a Shopify store and pick a theme for their online store.
It’s important that you use a great theme as a beginner dropshipper. It makes it easy to start and with the theme’s high conversion rates, you could be making sales in no time!
But probably the most important part of starting a dropshipping store is which product you choose to sell. A product can either make or break a dropshipping business.
Dropshipping is a business that has made many teens go from their minimum wage jobs to earning thousands of dollars in sales a day!
7. Set Goals
Every business needs to set goals. Especially at 18 when you have the whole world ahead of you.
Goals keep you focused and on task so you take the necessary steps to successfully run a profitable business.
It is suggested to have both long and short-term goals. The short-term goals helping you along as you make your way to completing the more long-term, ambitious goals.
8. Outsource Freelance Work
We currently live in a gig economy. Businesses are often choosing to hire freelancers in an effort to outsource some of their work.
Whether it be for graphic design work, website design, or freelance writing, it can all be outsourced.
If your business is getting to the point where you are making enough money and can afford to outsource work, it is something to consider.
After you reach a certain point in your entrepreneurial journey, you will find that your time is more important than money.
9. Reinvest into the Business
Last but certainly not least is reinvesting back into the business. The most common form of reinvesting back into your business is by reinvesting profits.
You might want to reinvest into your business by getting better web hosting, outsourcing work, or even investing in better marketing.
Your business’s first profits should be reinvested into assets that will help your business become more efficient and grow at a more rapid rate.
Starting a business at 18 and becoming an entrepreneur is entirely possible. If you are willing to put in the time and effort needed to grow a successful business, it can be done.
By following the nine tips listed above, you have the framework of how to start a business at 18. Now, if you are serious about starting your own business, it’s time to take that leap of faith and get started!
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