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Best business model?

Discussion in 'General Business' started by Bungoh, May 13, 2021.

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  1. #1
    Hello there!

    I'm a teenager looking into what would the best business model be. Looking how to set one up with not too many expenses. and what I would do best in the beginning to get it successful later on.
     
    Bungoh, May 13, 2021 IP
  2. JoeSpirit

    JoeSpirit Well-Known Member

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    #2
    I suspect you'll get a wide variety of answers to this question.

    What you need to do is figure out which model is the best for you. Not all models match all entrepreneurs in my opinion.

    If you want to bootstrap your startup I'd advise that you first decide what niche you want to work with and then research affiliate marketing opportunities in that niche.

    Once you find your niche let me know and I'll see if I can point you toward some affiliate marketing options - if that's what you decide you want to do.
     
    JoeSpirit, May 13, 2021 IP
  3. Leadnetwork

    Leadnetwork Member

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    #3
    You should choose the niche firstly or traffic type that you wanna work with and then ask us about model
     
    Leadnetwork, May 17, 2021 IP
  4. sarahk

    sarahk iTamer Staff

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    #4
    You're a teenager who has left school and is looking for a full time business?
    Or are you using your spare hours after school, homework, and chores?
    Are you legally able to sign contracts or do you need a parent to co-sign with you?
    Through friends and family do you have access to any particular goods or services at a cheaper rate?
    Do you have any particular skills that you can utilise?

    If you have good graphic design skills then making up unique designs to sell via studio6, redbubble, casetify is by far the easiest way. Next up would be to actually create t-shirts with your designs and sell them at markets or via an online shop.

    Alternatively, you could sell your coding services but that will be a different "business model" - we really need to know more about you before we can recommend a business model. A friend got his start as a school kid breeding goldfish in massive tanks his parents let him put in their backyard. Koi are valuable in some countries (they're a noxious pest in NZ). I know another kid who spent a few years breeding "hand-reared" budgies and could charge a premium that the big breeders couldn't.
     
    sarahk, May 17, 2021 IP
  5. Vicky64

    Vicky64 Member

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    #5
    First know what you want do first if you want to get a great deal of business model to start off
     
    Vicky64, May 18, 2021 IP
  6. kenjory

    kenjory Peon

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    #6
    First of all, you should choose the field exactly or at least the traffic type that you want to use then you can look for a business model.
    Kodi nox
     
    Last edited: May 18, 2021
    kenjory, May 18, 2021 IP
  7. sarahk

    sarahk iTamer Staff

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    #7
    I'd have thought that picking the traffic type comes much later.
     
    sarahk, May 18, 2021 IP
  8. usaukclassifieds

    usaukclassifieds Well-Known Member

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    #8
    Every business is the finest business model since every business model necessitates marketing techniques, and your marketing tactics include your whole company.
     
    usaukclassifieds, May 19, 2021 IP
  9. sarahk

    sarahk iTamer Staff

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    #9
    You sure about that?
    I reckon there are some that aren't fine at all unless you are actually Bernie Maddof
     
    sarahk, May 19, 2021 IP
  10. Mar52ia

    Mar52ia Peon

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    #10
    Hi there,

    I would highly suggest doing a business plan. They help navigate where you are and where you are going. You can find some templates online for business plans, although if you are looking for grant funding or a loan from a bank, you should get help from a third-party that has been successful in getting funding.
     
    Last edited by a moderator: May 21, 2021
    Mar52ia, May 21, 2021 IP
  11. Nameshark

    Nameshark Member

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    #11
    Do yourself a favor and sit down and determine what you are passionate about. This can go a long ways to helping you succeed. Next do your homework and find out who your competition is. See what they are doing right and wrong. See if you can provide a better service or product. Once you do this write a business plan. There is online software such as liveplan that can guide you through the process and provide you with sample plans to help you out.

    Also make an appointment with your local SBA they have mentors that can help you with what is necessary to get going such as business license, business plan assistance, market analysis assistance, etc.

    This all seems daunting I am sure, but honestly a solid plan will help keep you focused and on track as you grow.

    One more thing is you mention you are a teen. Depending on your actual age you may need to get your parents involved with some portions of your business setup. Check local and state laws to determine the extent that they need to be involved if at all.

    You are on the right track though asking for advice that is a great first step.
     
    Nameshark, May 24, 2021 IP
  12. charleshubbard

    charleshubbard Greenhorn

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    #12
    Virtual Good Model is one of the best business models.
     
    charleshubbard, Sep 22, 2021 IP
  13. Mike1990.

    Mike1990. Peon

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    #13
    Hi, a good starting point could be to provide the market with a unique product or service that appeal to a specific target audience. In this way, your business model is quite simple and not too sophisticated. Then, you can choose to improve it by implementing different business growth strategies.
     
    Mike1990., Sep 22, 2021 IP
  14. VortexAlpha

    VortexAlpha Member

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    #14
    It depends on what you want to achieve and how many hours per day are you willing to put in your work. I would suggest that you first do some kind of research and see which niches you would want to target, to analyze the market a little bit, and then to set up the right strategy according to obtained information. It's really hard to give you some specific recommendation just like that, you have to dig in and do some serious research before you begin.
     
    VortexAlpha, Dec 21, 2021 IP