Graduating and starting my own business

Probably a year before I was confortable it could reliably bring in income.

IDK what you mean internship. If you mean you offering places Id say no - never expand staff until you are losing exisitng customers. If you mean doing one yourself you should already be experienced (even if not an expert) in that field. If you need an internship youre not yet experienced enough

First go here and to your relevant country: doingbusiness.org/data/exploretopics/starting-a-business
>I ain't clicking on that
You damn well are, it's an OECD website that gives you details on what procedures and paper work you need to fill in and related costs to register a company on almost every country on earth!

Now, I'm not a entrepreneur (yet, I'm putting something together) but I grew up around a couple of them. So my knowledge is from observation less than hands on.
>Should I get a job first?
Yes. Hell yes. So many reasons, but mainly financial security for yourself.

I think most of it is just asking the right questions. The single most important question is
>Who is my customer and what problem am I solving for them?

Here's what Charlie Munger says you have to ask, and Kelly Cutrone says similar things:
>How do we allocate our…
>TIME?
>WORK?
>ATTENTION?
>MONEY?
>Can we identify the few things that really matter?

Evaluate new business ideas, use 4 criteria as filters:
>Can I understand it?
>Does it look like it has some kind of sustainable competitive advantage?
>Is the management composed of able and honest people?
>Is the price right?

Other questions include
>Who are my competitors?
>What are they doing that I like/don't like?
>How big is this market?
>What's my pricepoint?
>What is different/unique about us and how much value is that worth to the customer?

The single most important thing is that you actually know there is a DEMAND or a MARKET for your product. So many people think they have this miracle idea, a superior product and they bring it out and people couldn't care less. You have to either pound pavement and get interest or see the genuine interest.

Will read this des. Thank you.

I already have a group of brainlets which do STEM degrees who I can contact.

I'm willing to take risks as I dont have much to lose. What are the best ways to gain experience?

Thank you user. I have considered many of these things already, but I'm not sure the tech behind my idea is mainstream enough yet.

>but I'm not sure the tech behind my idea is mainstream enough yet
Is that a production problem or a market problem?

I don't want to spill the beans on here, but the basics involve using cryptocurrency as a means of funding. I think there will be demand in the future for this product, however, currently, most normies do not fully understand crypto.

Therefore, I think it is a market problem.

start day trading.

>I think there will be demand in the future for this product, however, currently, most normies do not fully understand crypto.
Why isn't there demand for it now?
Why do you need to market to normies? Why not market to the crypto converted? Or the soon-to-be crypto converts who are just buying their first bitcoin?

I guess there is more of a market there when I think about it. I'm really not that bothered if it fails, I'd rather have done it than not done it.

I mean, "normies" is way WAAAAAAY tooo big of a term. Remember, I said you need to work out who your customer is. Get specific - think about identities or core behaviors. And that will suggest itself based on what problem your product solves.

Take Coke Zero, they don't market it in Vogue or on model's instagrams, because Diet Coke is the "feminene" drink. Coke Zero is probably marketed closer to Red Bull, at racing events, sports events, to video gamers. Diet Coke is marketed towards the gym crowd, fashion conscious women etc.

Both Normie products - very VERY different ways of splitting the market.

TL;DR - get specific about who your customer is - maximum ROI on marketing resources.

1. Get into crypto
2. Make shitton of money
3. ???
4. Retire

I started my own business out of college selling on Amazon FBA. It's doing quite well now and Ive automated almost everything.
One thing that helped the most is that I surrounded myself with really smart and driven people. I'm kind of lazy by nature and smoked weed all day in college. Always smart enough to be a strict b+ student with minimal effort.
I had some friends that are super driven and also entrepreneurs. They always wired crazy hard and slowly it influenced me by osmosis.
I spent last year traveling and working on my business remotely. I highly recommend going somewhere like Chiang Mai, Thailand where living is cheap and quality of life is great. There is an enormous entrepreneuer community here and it's really easy to find a bunch of really smart people. You'll learn a lot about running a business and a lot about yourself too. That year spent traveling and working was probably the most productive time I had while also experiencing something completely new everyday. Cured my depression desu.
Good luck op I am rooting for you

This is true, there is a wide range of people who it can be marketed to. I know what problem it solves that is a key selling point for the product.

>Take Coke Zero, they don't market it in Vogue or on model's instagrams, because Diet Coke is the "feminene" drink. Coke Zero is probably marketed closer to Red Bull, at racing events, sports events, to video gamers. Diet Coke is marketed towards the gym crowd, fashion-conscious women etc.

Good thinking user. I will put this to my team once they have been fully assembled.

Sounds like the perfect set up user, I hope it remains profitable for you. I have laid the foundations for this before, but never went through with it due to work/time constraints, it is something I will do as a side hustle soon. What do you sell?

>One thing that helped the most is that I surrounded myself with really smart and driven people. I'm kind of lazy by nature and smoked weed all day in college. Always smart enough to be a strict b+ student with minimal effort.
I had some friends that are super driven and also entrepreneurs. They always wired crazy hard and slowly it influenced me by osmosis.

Good idea. I'm already pretty driven due to being jolted awake by certain situations.

>highly recommend going somewhere like Chiang Mai, Thailand

Thailand sounds great, I've heard good things. I will definitely consider this. Thank you for the advice. The professional life sounds good but I don't want to be working until 67.

Those dub dubs!
>One thing that helped the most is that I surrounded myself with really smart and driven people.
> They always wired crazy hard and slowly it influenced me by osmosis.
I think I remember reading some meme life advice book that said: You are the average of your friendship group.
And that part it got right!

It also synchs up with what Ray Dalio says about "triangulating" opinions - he says you need to "stress test" your theories.
>"Triangulate your view. Never make any important decisions without asking at least three believable people. Don’t ask them for their conclusions or just do what they tell you to do. Understand, visualize, and assess their reasoning to see if it makes sense to you. Ask them to probe your own reasoning. That’s critical to your learning as well as to your successful handling of your responsibilities."

Personally I really dig that part about reverse engineering both their thought process and your own.

I feel like we need more threads on this board like this one. Crypto is great but this is actually useful.

jesus, this.

Im sure there used to be a general about this stuff.

>tfw my wife could EASILY look like a 90% copy of SJU if she just wanted to get slimmer.
So close, so close...

Sara Jean Underwood is the definition of perfect. 10/10 would bang.