Owning Your Own Business May Help in More Ways Than You Know.
Who dreams of financial freedom? Being able to make it out of the rat race, and focusing more on living life than surviving in it? Me, I do. Owning your own business may give you that freedom. Being a broke full-time college student, still living with family, and working a full-time job isn’t very appetizing… However, it’s the life that many young people are still living regardless of if their 18 or even 24.
So, why are people starting their own business? Between losing jobs from the pandemic of Covid-19, jobs wages being so low, and bills that have to be paid many people are turning towards starting their own business as a means of financial support.
With funds being so low, how can I start my business? There are many ways you can start your business that benefits you while your funds are low. Firstly, start with your niche. Your niche is a targetable product(s) or service that is beneficial to the sellers’ market. For example, selling glass water bottles. Glass water bottles are more durable than plastic water bottles, they help with the earths ecosystem and promotes less pollution, their easy to clean, and can regulate liquid temperatures such as hot coffee and cold water at long periods of time. Very marketable and beneficial to others. I think you have a business you can run. Secondly, you may be wondering, how can I afford the inventory? Well, the answer is drop shipping. Drop shipping allows you to sell your products to your customers without actually having the inventory stored in your home, making a business-to-business transaction with the merchant you can customize and sell your products with.
What if my business doesn’t take off and pay all of my bills? When first starting a business, there may be lots of doubts at first. However, the true battle is staying motivated enough to be consistent and not giving up on yourself. Try focusing on selling to 10 customers within a 1-to-2-month time frame starting out. Selling 10 glass water bottles to 10 customers priced at $8 each with leave you with $80; enough to pay for gas and be able to put some of that money in your savings. Definitely worth a shot.
Nothing is ever easy when first starting out. You must have an idea, plan, plan some more, execute your actions, and stay consistent. The goal behind starting your own business is to have the financial freedom to be able to support yourself. That support may be in forms of saving for your own place, paying off student’s loans, being able to spend more time with your children, and even helping others out. Owning your own business has more perks than you know.
7 thoughts on “Story Focus Sheet”
Hello Alex. I completely agree with you and owning a business gives a person way more financial freedom. I like how you added in the information about people losing their jobs due to the pandemic because that has had some serious consequences on our society. It’s a smart idea to turn towards owning a business, especially during this time.
Hi Alex. I think this is a really good topic because many college students want to be financially free and starting a business is a great way of achieving that. I think that we all get intimidated of having a business but you have to crawl before you can walk and you have to start somewhere.I think that this will be the motivation that some people are looking for if they are thinking about starting a business.
Hi Alex! Can I start off by saying you just described my life perfectly. My dad currently owns his own business with my stepmom and they have owned it for over 10 years now. This story is definitely going to be one college students would read because I feel like we are all in the same boat. I can feel your inspiration already, so excited for you to go further with this.
Hi Alex, first of all, great job with the layout of this post! It really caught my eye with the position of the image. I agree with you that owning your own business would help but at the same time, owning your own business can bring financial stability but at the same time it can bring financial struggle as well if your business isn’t doing well. Anyways absolutely great post, good job!
I think the topic of building your own business sounds fascinating. So many people attempt to start up their own businesses, but then end up failing. It’ll be interesting to see some of the ways people can start up their businesses and succeed. It’s also good advice to start up a business with your niche, trying to do what sounds the most profitable when you have no knowledge in that field could be disastrous.
I Enjoyed reading your blog
I think it is one of the most important topics that students are interested in. After graduation, the students need a source of income other than work. Also, it’s a nice opportunity to get experience.
Hello Alex, I solely relate to the idea of having a long/short term after graduation even now due to the COVID-19 pandemic, which has caused a lot of working people to lose their jobs for their own safety. But, it affects the income from which they live, and I think it is important to have a plan of action to where they can get on their feet, and become successful in the job or homeworking job so they can at least not be unemployed. Great view and blog about this important topic!