Suppose you are 18 years old, and you want to start an internet business. Which e-business would you attempt to do?

You have no university degree (which is de facto not needed), no experience but you are a born entrepreneur. What kind of e-business would be successful now? And Why?

Mel, that's the issue. You don't have the experience as an 18 yr old guy (or girl), but you want to set up an e-bizz. With our knowledge, what do we think would be the best pick for an 18 year old? And that best pick for the 18yr old person, how would we, as mature business people, think about that?

Almost zero capital access, and trying to get a living out of it.

Good points Brian and Les. The lack of money will result in a kind of e-bizz as this 18 yr old will not have the means to finance the working capital.

Some people imply that the 18 yr old is a he. Would it be different if the 18 year old is a girl?

Lot's of excellent answers so far. The punch line I see in the A's, is that the 18 year old should focus on a niche market, based on his/her experience and focussing on the same age group. After making a SWOT of him/her-self, doing the same for the market potential, drawing up a business plan etc... Should the 18yr old also perform a market study, an old fashioned one, just asking around on the street, etc... There is a reason why this is important, which I will tell you later.

(1) If I had the answer for this question, the right one that is, I'd like to be doing right now rather than giving it away for free :)

Even though a college degree is not a must to start a web site (we all know that even a monkey can set it up nowadays) for the breadth of experience and understanding of how the world turns, would be a good starting point for a web entrepreneur. I hold two degrees in engineering but owe my understanding of economy to the two semesters worth of basic economics courses I took. How in the world an 18 years old figure it out on his or her own ??
Messages from Mel Burslan (1):

(2) Obviously, part of the gig, is to self educate, there are thousands of blog and opinion sites, probably almost as many about specific technologies and that is all in the free. There are also hundreds of books, not just about internet starts but also specific niches, like ringtones, local music, poetry, hand crafts, jewelry.

You do not specify, but two crossing factors in these considerations, how much capital access do you have, and how much income do you need, enough to make a living? or can you make this a nano or micro business for your education while living on other resources. Besides capital resources, what is the value of your circle of friends.

Almost any sales of goods is going to require capital to stock and deliver, but some intellectual property, like music or publicity can fairly inexpensive in you go locally. Worthy of some consideration are the long tail theories of IP goods, even a music composition that sells a few copies per year, for cents per copy, has a lifespan longer than yours. Note, there are a number of complexities to the music business, fractional ownership by composer/songwriters, and performers also systems for labeling and tracking product.
Messages from Les DeGroff (1):

(3) I'd question why the 18 year old is limiting the possibilities to an internet business. Depending on how you define "Internet business" you may be looking mostly at failed businesses (pets.com, anyone?). I would expect the person (regardless of age) to identify a problem and then build a business around the solution, which could be in any form.

That said, unless you are a teen, I doubt you can achieve the same unique perspective. And it's that perspective and lack of experience (the "best pick" idea) that serves as his/her greatest advantage over established businesses.
Messages from Brian Curtis (1):

(4) Assuming that said 18-yo has limited skills and capital, and plenty of time, any business that relies on shoe leather works. That's why there are so many young car salespeople and realtors. If limited to e-business, I would say something that is relatively labor intensive. There has to be some factor that makes it not worth it for someone that is more skilled to pursue.
Messages from Johnny Kwan (1):

(5) Hi Frank,

If you are a born entrepreneur, then you should be able to identify where you can make a buck :-) Age, money, degree and experience should not be an obstacle then. Look who started facebook :-)

Links:


Messages from Victor Polyushko (1):

(6) I'm not 18, but not too far from it to forget what it was like.

Key point: 18 year olds have nothing to sell in all practicality. They have their time, and their ideas, but they don't have much else.

The makers of facebook didn't need much to start, but once it was running it became profitable and people would be willing to invest. However these were still college students and probably smarter than average ones at that.

An 18 year old entrepreneur will most likely sell their services. That applies on the web and off, so they either work at a restaurant or work on websites, either way they provide a service and not a product. The one issue is that websites are both services and products in a sense, but lets regard them as services in this case because the 18 year old would have no money to invest to make a full product.

So I see it as almost impossible for someone to setup an e-commerce site without having a product. I can only imagine products with a few attributes: reusable, resellable, and requires little or no resources. I've already said a product could be something for the web, so to a technologically advanced entrepreneur, it would be feasible for them to program something of value to sell. Perhaps they can design with Photoshop or something similar, there are a few situations in which they can produce unlimited quantities of a product (graphics, coding) which requires this skill. So I don't see many opportunities for products on a large scale. However, they could produce a niche product and sell them at higher costs.

I don't see much success for an 18 year old with an online store, at least not without a method of securing or producing a product. They are far more likely to sell the thing they have, their time.
Messages from Jeremy Wilken (1):

(7) Start an SEO (Search Engine Optimization) business . Nothing in college can teach you that, and you can find plenty of information on the internet and in books you can buy from Amazon.

You can easily get your first customers by having them pay only when you get good results.Then, when you become good at it, you have reference customers that you can use to get new ones.

Links:


Messages from Oren Yosifon (1):

(8) You know - I have yet to come up with an e-only business. I know google, paypal, LI, and others have done it, but everything I come up with involves a physical product or service.

e-market, e-order, virtual warehousing, drop shipping, product brokering... It all involves "real stuff" - just marketed and ordered via the web.

I recon you could be a web designer, writer, magazine lay-out person - but again - you're still selling the service/product. not entirely "e".

good luck.
Messages from Jon Baldwin (1

(9) i have an ebusiness idea i've had it since 2000 though in 2000 it was not yet feasible the tech and law were not 'there yet' but i knew they would be

i am certainly not telling it but i will give this clue: what is it that you and the people you know consume and how can you give them what they are already 'sold' on BETTER and at the same time serve the greater good
Messages from aurora bramble (1):

(10) I would suggest to start a neighbour hood exchange bureau, that people will able to exchange through the bureau organges for potatoes and cars for buses, anything that could be exchanged, a barter system exchange beareau in line with the stock exchanges...
Messages from ashok nair (1):

(11) don't misunderstand the knowledge of a 18 years old entrepeneur. Probably with his internetexperience, he is miles away from old dudes trying to understand what internet is. Internet was his breakfast, lunch and dinner. So my suggestion is, take a look at the life of your age-collegues. Find out what they are missing and what could be a specific need to be filled in. Take that as an idea to fill in the internet or something else. Start with your idea, your passion, your own life or fascination. And write your plan. And if you don't have dreams or passions stay home at mummy's.
Messages from Hans Rietveld (1):

(12) The decision will depend on three things, one - the person's interests, two the person's capabilities, and three what this person's peer group is interested in because the business should start out by marketing/selling to the immediate peer group and grow from there.

Some suggestions:

  • online game
  • software tool or program
  • portal, blog or a site that is primarily interested in gathering traffic which can be monetized
  • retail e-commerce site that sells items to the peer group (fashion items are especially popular with this age group, like clothing, jewelry, accessories, backbacks, etc.

Here is a terrific organization to check out: www.build.org BUILD is a young non-profit begun in the San Francisco Bay Area that provides business and entrepreneurial training and supports to teens in grades 9-12. The teens in the program develop their own business plans with assistance, develop prototypes of their products, develop their public speaking skills, give their business plan pitches to VCs multiple times and then get seed money and assistance in developing their businesses.

BUILD can use donations, mentors and volunteers and hopefully it will grow to reach other metro areas.
Messages from Tiffany Felicienne (1):

(13) Something that involves social networking on phones.
Messages from John Nagle (1):

(14) Anything that would possess a broad appeal to your age group. If your idea catches on with them, then you're heading in the right direction.

For instance,your generation respond promptly on Facebook than the traditional email channels of yahoo, msn, etc. Clarification added 1 day ago:
Frank
My term of 'your' is the hypotesis of the 18 year old who seeks the answer.
Messages from Richard Rozario (2):

(15) At that age (I'm 27) he has no idea what he really wants to do. Regrets usually come from what we have not done in life rather than what we have. Just pick something and run with it. The experience he will gain from this will be invaluable. It's most likely that an 18 year old entrepreneur will fail his first business, but if he is going to be an businessman he needs to start somewhere.

One idea is (which I am involved in and have started my own business) is recycling. You might say "how on earth is this a web based business?" well it is and there are about 15 - 25 companies doing this already. Many companies buyback items such as cell phones, PCs, toner cartridges, etc.

For him to be successful he is going to learn about planning, purchasing, sourcing buyers, selling, inventory, marketing and web design.

Take home point: Just Do It (Nike)
Messages from Nicholas Vannoy (1):

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Messages from Jarred Bonica (1):

(17) I have a business model that works for anyone, any age, any income. The only thing you need is a dream! If you have a dream, and are willing to work hard you can make money. I do private franchising, which basically means I show people how to make money by helping others make money. Meaning that you would have a mentor, which is crucial to success, helping you every step of the way. Basically you benefit from helping others succeed. What business could be better than that? Just take a look at my website and watch some of the videos. When prompted the password is "info" (without the ") Let me know if you're interested.

Links:


Messages from Justin Humphries (1):

(18) I'm 26, and although I do have a college degree, I don't think it is necessary to start an online business, especially nowadays. I started an online business this year, and it is doing very well; not enough yet so that I can live on that solely, but maybe in the future. You first need a great idea, something that you can offer that nobody else does. It is so easy to start the business - it didn't cost me a penny - it is coming up with an idea that's the hard part.

Links:


Messages from Annie Snyder (1):

(19) There are many ways to open an Internet business..and for FREE. Check this link for some cool ideas:

Links:


Messages from Luis Fok (1):

(20) You're not going to like this answer, but you are way off the mark. The Net is a platform for offering goods and services that people want, not an end in itself. True, you can set up websites and all sorts of e-biz tools. But what is the content of what you are selling ? 18 yo and you offer consulting ? Consultants offer decades of experience in specific fields, for which there is no substitute. What is an "internet business" ? If you can define this specifically, then you can write a business plan.
Messages from William Caplan (1):

(21) I would recommend to the 18 YO first to assess his/her strengths and values. Look into what they really like and what satisfies them. I have hired youth and no matter what their status they really don't know much about themselves. Get into something that does not suck your finances dry. Get a mentor. Get some guidance. Get the DVD "Pass it On" and listen close, it really is right on point. I have found that 18 YOs are great because they have no fear. They have a blind enthusiasm. I coached a HS hockey team and it was the greatest experience and the worst as well. But no matter what it was a great learning experience. The youth are like pulled out rubber bands just waiting to be released. sSome are stretched out more than others. but they are willing, as long as they like what they are doing and given recognition, not necessarly praise, but merely recognition. Use Passion +Talent+Action = Success as your guide. If this is done, and thought out the 18 YO can do anything they want.


Messages from Bernard Coffey (1):

(22) The answer to this question lies with the individuals drive and current abilities. As the 18 year old is also restricted by the fact they need to earn a living without putting in any cash some kind of brokerage model should be employed basically: find a product that can be bought from one distributer then broken down into smaller quantity to make a profit. There is no investment needed if the 18 year old can buy for example 1000 units from a supplier on 30 days credit and distribute them to final users that will pay immediately. Orders must be proven to the supplier to gain credit and a guarantor any also be needed. I would suggest a niche that the 18 year old is familiar with like a hobby or something he/she has a passion for. Also the individual could seek employment with a brokerage/ sales firm to learn how to sell then apply the principles to another product. The other option is to simply aim to make profit from advertising meaning; a site that does not sell anything needs to be created that can generate traffic. Or target close out and bankrupt business that keep cropping up at the moment then negotiate a sale to a competitor with a mark-up of whatever is acceptable. It’s not exactly e business but intelligence is all available on the web for this kind of business and an online tool can be used to help gather the intelligence. I can’t go into exact details of what should be done as these are personal ideas with commercial value.

If you want more information or some kind of business plan get in touch and maybe we can help this 18 year old out with a consultation.
Messages from Peter Petrou (1):

(23) If you can sell a burger for a dollar to your friends, its a business when your cost to produce it has been 80 cents. Dont trust VC“s, trust your instinct. There is nothing more simple to setup a webiste, but there is much more difficult to visitors there. BTW. Im writing an article "why Mother Theresa has become to feed the Europe". I just hope that US isnt in same stage.
Messages from Veiko Herne (1):

(24) Private Answer SHELLEY STRINGER - www.sendinglove.us : If the 18 year old has many friends that are interested in finding a starting point for making money as well, (being that he/she is in college and the goal is to begin to earn money), I would suggest the business that I started a few months ago. It is not a get rich quick business. It is a gradual residual income business. I wish that I found it when I was in college. It is a pyramid web based company, but if he/she has other friends willing to work 2-3 hours a week while in college to make money on the side, he/she will do very well. The start up is reletively inexpensive and the monthly cost is very low for a college student. Visit my website for a free test drive. I think it's a pretty rewarding business to be in as well. www.sendinglove.us

Good Luck!

Links:


Messages from Shelley Stringer (1)

(25) Low or No Cost Ideas:

1. Come up with some cool t-shirt designs and open a store on Cafepress.com then spend your time promoting the crap out of it.

2. Sign up with clickbank or esellerate and build informational pages around the products you choose from these sites. Then promote the crap out of them. Some products pay 50% of the purchase price. I do fairly well with these as side business.

3. Review, rate and promote the music you listen to. Then offer links to buy the music from Amazon and iTunes through affiliate their programs

4. If there is a subject you love to write about create a website on that subject and post Adsense ads on it. If you love to write about pharmaceutical products you will get some high-paying ads :-) Here is a link to a classic forum post on the topic of building Adsense sites. If you follow the instructions you will be making money within 12 months. http://www.webmasterworld.com/forum10003/2010.htm

Those are just some basic ideas but the thing you need to realize is that you're going to want to approach your mission here with a little different mindset. People who jump on the internet saying "Tell Me How To Make Money On The Internet" are almost surely doomed to fail. The question you need to ask yourself is "What do I really love to do?". You have to decide that first because you will be doing it 12 hours a day for the next 10 or 20 years if you want to be successful on the internet.

Do you love music? Create some kind of music review site.

Do you love to watch movies? Rate, review and sell them for a commission.

Do you love to create art? Do t-shirt designs or website templates and sell them. Do you love to write? Create a blog are article site and place Adsense ads.

Once you figure what you love to do and how you are going to put that into action the next thing you need above all else is *traffic*. The secret to getting traffic is to give something of value away for free, post it on your site and promote it everywhere you can (don't tell anyone else about this). If you do this you will get ranking and organic traffic in no time.

There. That's my best advice to the phantom 18 year old looking to "make money on the internet".

Links:


Messages from Mark Lewis (1)

(26) Start with what you know. What do the people around you need? One very successful model I saw in my college was selling class notes - is there any reason that couldn't work on a national level?

As one idea, you could contact schools across the country, find out what textbooks they use, and read them - starting with the most common and widely utilized. Publish online notes and explanations of the material and correct answers for the quizzes for a dollar or two a PDF.

You can even hire writers to cover the textbooks for you - people with good grades in that subject. Of course, you may need to start yourself, until you make enough money to hire out.
Messages from Tennyson E. Stead (1):

(27) I'd recommend an ebay business - buy stuff at yard sales, recycle and earn money. It's a green job for the new economy, and involves sales, marketing, and online savvy. Man, too bad I have a day job...
Messages from Holly Rawson (1)

(28) Generally speaking, Teens are good in social media and/or understanding gadgets n technology. The 18 yr old can start out to provide advise (consultation) to others with Netweaving strategies & tips (pbly through a blog to start with) or become a tech blogger or gadget reviewer.

To start an online business model, one doesn't need to master economics. They need to have unique information that others are looking for. IMHO
Messages from ShriNagesh Dinavahi (1):

(29) I have a great idea for a start up business with relation to smartphones. A portal for businesses to manage and communicate marketing and sales messages to users through SMS. I even have a great site name for it. Bascially, it is a value added list manager for sms addresses.

Let's say you frequent a small business that sells a product and you would like to know monthly specials, or anytime a new product comes in. You would text "Subscribe" to a fixed sms address for the company. Your sms address goes into the companies database. The company marketer can then log into the web site and format communication messages, preview them on a sample small screen, and bulk send the messages to the subscribers. The company can run metrics on the number of users opting in and track the results of certian campaigns. Subscribers can manage their accounts using sms, like opting out by texting "Unsubscribe". To make money, the initial version of the site could charge an annual fee at varying levels, with each level offering more services.The start up cost is minimal. A yearly web hosting package and some up front developement is the only cost I envision.

Good luck in your venture, Louis
Messages from Louis De Grazia (1):

(30) Get that person to take a look at http://www.warriorforum.com/ There are lots of ideas there, and many of the members are in their teens. In fact I think someone runs a forum for 18 - 25 year olds. Check it out.

Links:


Messages from Carol Smith (1):

(31) You absolutely need to read the book 'The 4h workweek' - by Timothy Ferriss. It gives you a wealth of great ideas.
Messages from Peter Vermeulen (1):

(32) I would say, if they go into some regular business such as tshirts, dropshipping, SEO, and others that people have suggested before me, they don't stand much chance. Especially without capital. It is a very competitive market out there.

If so, what type of business would they stand a chance in? The best thing would be to find a very specific niche, something they know a lot about. Maybe they collect something and can start a website related to their hobby. Either way it should be something that they are knowledgable and passionate about, and doesn't have much competition out there. This will cause traffic related to that niche to flow to their website.
Messages from Ron Mey-Ami (1):

(33) I started with a blogging network that now makes me enough money to do a decent living and if I sell it I have enough capital to start a couple of local businesses. Start with something small and keep with it. In time, after you read a lot online about your business you will educate yourself more and will evolve the way you do things. The key is just to work on something. This is how self-learning works.
Messages from Mihai Mafteianu (1):

(34) hm, I think that at 18 I'd be looking for a turn key solution or to just do it all by my self by hand. It really would depend on the eighteen year old. Something very one stop solution ish. Part of it would be wanting to get as big a result for the least amount of work, the other having everything controlled in one location. I'd say they'd probably start through a blog system which I've seen a few kids doing.
Messages from Michael Marsalisi (1):

(35) Like a writer, draw from your own experience. What do people like yourself need? What are some of the particular concerns you have as you leave high school and decide how to make a living? Personally, I'm a proponent of getting a college degree, but if you are either not inclined to do so or you would like to but it's not an option, there may be an opportunity to make that very situation the subject of your e-business. This is just an idea for where to direct your thinking about the answer to your question. Keep in mind if I had the answer I'd already be making a living doing it. Like others have said, I wouldn't limit yourself to the internet. It is neither cheap nor easy to get noticed among the millions of sites, and I expect that if you can't monetize the web site (figure out how people will pay for it) it won't go too far. For example, many internet sites are free to users, but dependent on advertising revenue as the income stream. That may dry up with the economic downturn. Clarification added 5 days ago: Here's an example: I had a friend who was into tuning his Mustang day and night. It was a hobby, but he was very dedicated to it, and he probably didn't think it would play a key role in his career, but he started a web site out of sheer enthusiasm That was about 15 years ago. Here is the site today: http://www.corral.net/ Clarification added 5 days ago: P.S. That's an example of a success. I am not referring to it as an example of the advertising drying up. I think he's quite successful in that regard because the advertising can be focused on a very specific interest group.

(36) A blog. it's cheap, no cost really to set it up and can be very rewarding if it blows up.
Messages from Peter Roesler (1):

(37) You know Louis, your brains are way off the charts. Maybe you should be the 18 year-old's coach, that's what I think! I'm an engineer and a teacher and I'd recommend to the 18-year-old to get some higher education on a part-time basis and also launch the ebizz part-time. That way, it's a win-win situation.You're constantly learning and constantly working, but wait, some time for fun, too!
Messages from June R. Massoud (1):

(38) You are going at this backwards. It's like my PR clients saying "I want a booklet". No they don't, they want a way to communicate a message. That might be a booklet or it might be a webcast. The idea should come first, then the method of spreading that idea. Find something you are passionate about, that you would do for free, and then look to tell other people about it - via the internet or otherwise. The money (and the business framework) will follow.
Messages from Andrea Caldecourt (1):

(39) A pure digital service that might envolve social meda aspect. Digital service because it requeries minmal of capital and no storage. Social aspect- you are in right age to understand it if you are up to date and can see both "business and coolness"
Messages from Filip Elverhųy (1):

(40) Gadget Blogging:

  1. Easy info is available to blog on and almost countless categories in the gadget world right from latest mobile phones, PC's / Laptops, Cameras, Audio & Video gazzies and so on so forth.
  2. A blog with extensive info on gadgets can really be fruitful in long run making heavy user database and access.
  3. Revenue generation could take place from direct sponsors of gadget manufacturers all over the world and other from Ads by Google.
  4. Cost of maintaining such a blog is almost negligible which in long run can be converted to a Website with features like E-Music / Radio.


Messages from Kushagr Agarwal (1):

(41) It will be easiest to sell to your own age group, and that age group is very fad-driven. One way to do very well would be to anticipate a fad and put up a site that will capture attention when the trend becomes a true fad. Put adsense on it, find affilliate offers to attach to it, or sell your own product or service.

Jeremy Shoemaker realized at some point that custom ringtones for NexTel phones were hard to get so he created nextpimp.com and made some good money for a while. Ringtones aren't the thing anymore, but kids are always into something new ... what will the next thing be?

Also look for opportunities to buy odd and small lots of merchandise that you can resell for a signficant profit. A lot of businesses are going bankrupt, and they will often have quantities of identical computers, or phone systems, or office furniture or what-have-you that will be sold by the trustee or some liquidator. Then you put it on eBay or Craigslist.

Some people recommend a laser-like focus, but I say get a few horses out of the barn and see which one is in a mood to run... have multiple streams of income and then graft and prune as conditions indicate.

Links:


Messages from Mark Hankins (1):

(42) If I am 18, the teens will be the closes age group that I am deep familiar with. I'd look at my resources and figure out what kind of trash I can sell to them in terms of services/entertainment/work/school/college, etc.
Messages from Sasha Grebenyuk (1):

(43) Find something you can do with no outside equity, no debt and fixed cost close to zero - that's the new model for software.
Messages from Steve Reeves (1):

(44) Join us for 50% revenue sharing partnership.

Links:


Messages from Chandraprakash Loonker (1

(45) First of all, the asker of this question is not 18, so therefore there has to be some ulterior motive here. Are you asking this as part of a market assessment yourself? If so, you should be asking on MySpace, eh?

When I was 18, entrepreneurial options were generally limited to mowing lawns, shoveling snow (during the winter), newspaper deliver or selling gift cards to make points that you could trade in for items. A few kids tried to make and sell things in school, but that usually flopped.

A few things have changed since then. The teen market has grown tremendously and the variation of what teens consume has as well. No longer do teens limit themselves to tangible goods like skateboards, lipstick and music, but they also purchase games or even virtual objects. At the same time, adults still need teens energy and labor as always.

I agree with some of the previous comments - the 18 year old should figure out what he is good at first before thinking about the net. Perhaps he/she is good at landscaping. In that case, why not blog about or create a site about that, promote it with link building and become the best known landscaper in the area. After the teen goes to college, he can lease out his/her site to another local business and generate residuals.

Perhaps the teen is a good developer. Well, why pollute the blogosphere with yet one more self-important blog? Instead, consider growing areas like blog widgets, or 2nd life object creation. Perhaps the teen can rent his development or design skills to growing small businesses. A bit more on the dark side but certainly a major business: grinding characters in massively multiplayer online games, which is dominated by Romanian and Chinese gamers, against which I'm sure a US teen could compete..

All of the above are not web based, but certainly the marketing and PR of the teen's venture can be accelerated via the web, which is ultimately what its good for: communication.

Sincerely,
Mark J. Jaklovsky
mark@polardesign.com

Links:


Messages from Mark Jaklovsky (1):

(46) Just a brief thought, how about thinking about who you want to help instead of how you can make money as a starting point. Then, brainstorm about the potential problems these people face and put thoughts down around what solutions you can provide online.

You don't have to sell your own time/services, why not sell someone else's time or services that you have access to and we do not? Who is in your network and who can you work with?

Example, why not offer video tutorials for a niche hobby/activity? Offer a 20 second teaser then pay for the full view? Information can generate great revenue when you pitch it at the right audience with the right benefit, i.e. saving time or sharing expertise.

Of course they above is just an idea, but the point is it doesn't have to be limited to what you can offer. Your job might be to bring great minds together and communicate what you offer effectively over the internet.

Just a thought, tried to give you something a little different from some of the other ideas.

By the way - age is not a limiting factor, and as long as you learn from your mistakes or failures then you will be fine. Be confident and position yourself correctly and you are already on your way.

Good luck, Patrick.

Messages from Patrick Porter (2):

(47) Frank:

First consideration for you is

  • Cash flow
  • Legal status
  • Business model
  • Time line

As you have limited cash flow, you should start up something with low investment. In the marketplace, they are thousand of search engine, you may think of what is still missing. You need to find the niche market t grasp the first revenue from your idea - some suggestions:

Old toys - old Game boy - memory can be expensive Luxury bags rent - a platform for the young who wants to buy a branded bag but they have no money to do, so can only rent it. You can both get the members to offer those expensive bags and one to rent bags.

Are you a limited which you need to map out your costing and liability? If you take yourself an independent trader, then you need to deal with things with low laibility.

Business model: how to make money - by advertisement or getting membership fee?

Time line: How long this business can run for? renting bags can be longer business cycle and trade for niche product on ebay or your own webpage can be shorter as there will be followers if it proves the business is profitable.

Johnson
Messages from Johnson Lee (1):

(48) I think a 18 year old guy or girl first should concentrate to find the problems his age group faces then he should select a problem which he/she thinks is solvable then the person should think how can his e-biz solve the problem then he should start building a business if he doesn't have any capital he can do part-time jobs.
Messages from Rohan Dey (1):

(49) Depends mainly on the geographic location,as to me.You have to study the market prior to implementing a project of yours. You can`t really expect high yields from an online store,if 2% of the people in the country shop online(like in the case of Bulgaria). I think it`s useless to say a person should find a niche market for his ideas.It`s ridiculous to enter a jungle of several strong lions,as you are still a baby jackal. Anyway,niche opportunities I separate in two groups-completely new ones and existing ones that are missing in some local markets. And I believe a start-up is better to be based on the second group,since having no experience can be substituted with studying closely a good idea and copying/modifying it to fit the local supply/demand.

Case and point:YOUTUBE famous throughout the world,but less visited by a country`s internet users then the local replicas.

The same applies for FACEBOOK,LinkedIn etc. I also agree with the point that an 18 year old entrepreneur should have a target market of the same age group...to a certain extent,though,as it`s more important to see which is the largest group of i-net users in the country by age.

But let`s focus on the start-up question:what would I do,if I were an 18 yr old Bulgarian,who seeks profit in the e-business? I would study the local market and compare it to the regional and continental one in terms of development stage.

Then I would focus on one of the following:

  • social network
  • informative website("a trophy cave" type,as I define them)
  • HR database
  1. A social network,as this phenomenon is sky rocking at the moment,be it professional,dating or whatever.And because current social networks are rather static(let alone,safe for dating type ones,there no others in Bulgaria).
  2. Trophy Cave-this is the easier one,as you just have to make your website popular,by gathering "hot" data and articles,that are popular locally at present times.This is the true beauty of the internet,and the curse at the same time.Making a website popular can attract people to advertise on it,in other words-money.And you just have to be a smart "vulture",feeding on various sources.
  3. HR database-also a niche opportunity,that already exists in the web(of course,rather static as well).This means creating a website that offers job candidates to post their resumes,pictures etc.

How you accomplish that-one way is just to search for people looking for a job and ask them if you can take their info and create a profile for them for free.And that goes on until you gather the critical mass.At the same time you have a news section,with latest articles about the economic and HR news and data.Also invite popular companies,currently seeking for employees to advertise on your website for free.In time,the idea is to have a paid advertisements from companies and paid premium accounts for job applicants. Truth be told,I don`t understand this "zero capital access" thing.A business needs money,and what one should do is develop a solid business plan that would earn him/her the finance needed.

Several thousand EUR should do the trick,and this should not be perceived as a non-passing obstacle. I know I did not explain it clearly.

Never wanted to.

I`m a bit older than the age in mind here,but I`m also focused on the issue(hope it`s not too late :)

Let me provide you with my own questions that go along with my current efforts.I hope this would not be perceived as rude and would not counterfeit with Frank`s intention when posting this question.

  1. Aren`t you tired of reading and writing this questions/answers/messages/replies/articles,comments etc.?

There should be a better,more interactive and immediate way of online communication...

  1. Isn`t it time to step out of this old-fashined doc,pdf,jpg type applying for a job/seeking of proper job applicants?

We should communicate,not read about each other so much!

  1. What happens after youtube,facebook,linkedin,xing,myspace,skype etc?


Messages from Petar Ilievski (1):

(50) the same problem needs to be addressed Sellers need to find Buyers

any business ( e or otherwise ) that is able to match the two, for a comission is the business to be in.

18 or 80, putting buyers and sellers together is the viable business model for all.
Messages from Peter Adams (1):

(51) The 18-year-old aspiring internet entrepeneur is approaching the problem from the wrong direction. The internet isn't the "what (product or service does my company provide)" part of a business, it's the "how (do we provide it) part.

As an entrepeneur, anyone (regardless of age) needs to start with four questions:

1. Where do I see an un- or under-met need for a product or service?

2. What skills, experience or other resources to I possess that would allow me to better meet that need? How can I add value to the transaction? Better product selection? Better pricing? Better quality? Warranty? etc.

3. Is there a sufficient demand for this product/service that I should be able to run my business profitably, even when challenged by existing competitors?

4. Finally, is this a product or service that is well-suited to being provided via the internet? Is it something that customers will purchase sight-unseen, and with shipping time/cost factored in (e.g. a box of cheap pens) vs. something more costly, personal or urgent (e.g. a custom-made guitar). The same goes for services: will the customer be content to use the services I provide without having met me? For transcribing term papers, probably; for retirement planning, probably not. You get the idea.

Links:


Messages from Ed Keeter (2):

(52) I'm afraid it's a cliche, but it's true. If you're 18 and bitten by the entrepreneruial bug, go with whatever you feel passionate about. You'll have plenty of time to learn from mistakes, retrench, and try something different later. At that age--actually at any age! but the tradeoff is easier--you can absolutely afford to experiment.

Your question leaves out the essential element: what makes this young person want to start a business, and why now? All we know is she or he is a "born entrepreneur," but that could mean anything.
Messages from Mark W. Schumann (1):

(53) Been there, done that :) I started a little store in Second Life (I wasn't precisely 18 but a couple of years don't really make a difference) with original content made by me. It's been a very interesting and powerful learning experience for me. I think Second Life is a very good place for someone to learn the basics as the capital needed to start is very small (so there's very little to lose) and it provides a very accurate simulation of the "real world" because people's behaviour as customers doesn't change just because they are sitting behind a screen (dispite what some the more technologically suspicious may think).
Messages from Maria Joćo Arantes e Oliveira (1):

(54) here's what I would try if I was 18 again:

  • Teach myself to manage others well, others that I'd hire online to do the work I can't do or don't want to do. Doing this enables you to run just about any type of biz, or even more than one which is great for diversity
  • Start a subscription based learning site with videos, ebooks, forums, chat, etc. Not as hard as it sounds and very profitable *and sustainable*.


Messages from Craig Fifield (1):

(55) Knowing what I know now, and being way over-educated myself, I would (and I do) encourage young people to learn about network marketing.

Network marketing is simply insinuating one's self into a commission stream resulting from the consumption of common products and services.

It works for people of either sex and any age, requires minimal capital, can be started spare-time/part-time, creates residual income, recommended by financial luminaries like Donald Trump, Robert Kiyosaki, Warren Buffett, Paul Zane Pilser, Randy Gage, etc, etc...

I have created a generic website that explains the industry with f/u generic trainings to help people become successful in any legitimate company. (There's nothing for sale there).

Certainly worth a look, especially now as more and more people learn the definition of oxymoron (job security).

Best wishes for a happy, healthy and prosperous 2009,

Mark

Links:


Messages from Mark Schnitzer (1

(56) Hello,

It's an interesting question, however how do you expect an 18 year old to run a SWOT analysis, and a market research study, if he has no clue what they are? Because this is something you learn at the University, at least I did, and not in high school.

If the 18 year old is a true entrepreneur, he will first invest money in education, and I don't mean attending college, but buying books and researching online, as well as seeking assessment from other professionals who possess the knowledge he needs.

What business would I try? Whatever fits my needs and my interests. An 18 year old, even if they're mature enough, will still be drawn by emotions and interests, so I'd go for a business that is fun to do and also that relates to my interests (music, sports, food, health, etc). There are several business opportunities out there, but if you don't know what you want and what you're interested in, there's no point in seeking them out. You need to set your goals first and draw a good plan.

best regards,
Carolina.
Messages from Carolina Millan (caromillan@gmail.com)

(1):

(57) Hi Frank,

Honestly, this is something that just struck me when I read your question, I don’t know how good or bad an idea it is as I’ve not even tried to work out the economics of it, but from just an idea perspective it struck and it clicked at least with me.

We all know that the 18 + (2-3) years old is a huge market in itself. Now what does an ~18 year old own, well he owns a network a college gang of people his age etc. etc. A lot of companies make products for this age group and it’s a very important age group for them as it has a potentially high lifetime value.

So the 18 year old could realize this and may be start something like an e-critique service. This is a website where real people are members, members have to critique products and services or may be suggest improvements and they get say points they can encash or something of that sort. They could also go on and invite these guys to launches and actual product tests if need be. The companies will need to pay to get their products/ services critiqued by this lot of potential customers. Sounds workable? Maybe.

As I said it’s just an idea, on second thought something I may try out a version of may be sometime when the Indian markets are more responsive and mature. Your feedback and suggestions are welcome.

Best Regards,
Puneet

Messages from Puneet Gulwani (1):

(58) Private Answer:

Start with something simple. Like reselling websites. I have a friend in Asia that can design websites for you at a fraction of the cost and you just contact people with bad websites and offer to redo them $500-1000. You work out what the design should be like and contract it to him, keeping 50-75%. For example. And with a position of the money you reinvest, and have him design a website or two or 3 for you, then contract with service providers to ship whatever good you want to place on your site. Acting like a middleman. Very Passive Income!

As you build up wealth and then go into businesses that require more capital, better connections (network), and industries... That's how to do it right, block by block. You may after building capital be able to buy businesses and turn them around and resell...
Messages from Victoria DeDicova Kent (1):

(59) You don't need huge amounts of capital but you will need at least a basic expertise if you are on a shoestring. You will be doing the coding yourself and you need to accept that, so start learning about web and at least one development technologies now.

As far as choice of business goes, thats a very obtuse question. You need to work on the basis of niches, the long tail and identifying a need in the market, whatever and wherever it is. Keep it simple too, as all landslides start with a few pebbles. Until you get some momentum on your first few projects then you will find it very difficult to get credibility, investment funding and technical buy-in. Think about what is around you? What do you know about? Find the need and you may not even need to go digital straight away to exploit it, depending on what it is. You dont even need to be selling to make money nowadays, as a well optimised site that focusses on a popular term will attract hits and effective affiliation will result in incremental revenue.

In terms of areas you could look at, think about business trends and consumer patterns. With the global credit issue, you may find a site that offers financial advice would be popular, but identify the niche you are targeting your advice to and build from there rather than going for generic broad strokes. With the increase in expertise comes an improved ability to identify the niches, and there is a wealth of expertise in LinkedIn. Utilise the system to gain advice and assistance, you will find that the optimism and enthusiasm of a young entrepreneur will be inspirational to the guys that have made it already.

Good luck and keep in touch

Messages from Sam Johnson (1):

(60) This is actually me right now, only I'm currently working on a degree. I just haven't finished my degree program yet.

I advertise my computer repair business online. I don't suppose it's strictly an e-business, but I do rely on the internet for the majority of my advertising. Using my own website and websites like craigslist.
Messages from Zachary Chastain (1):

(61) Amway Global, hands down. Requires very little capital compared to the normal start up required for a normal business. Does not matter if you are a guy or girl. And marketing on the street or a market study is already done for you.

Do you know that Amway Global has put 533 million into advertising? Which company is spending money during this economy and already have the money to do it?
Messages from Arlen McCorkle (1):

(62) try finding a product line that isn't terribly popular, talk to wholesalers/manufacturers about drop shipping the product for a few % ... won't get you much, but, won't really cost you anything either ... use revenue to build the business

can get a $10/mo host at bluehost/dreamhost put zencart/oscommerce up and voila instant business
Messages from Robert St.Denis (1):

(63) Some kind of high margin information/download product for highschool/young college-age students that could be virally marketed through social networking sites.

Links:


Messages from Lance Dunkin [LION] (1):

(64) e-business is not too far different from normal businesses.. first sit back and think what you feel passionate about.

what is the topic or service which makes you feel atmost happy?

let me give you an example:

I love Cars

I can initially start a blog the evolution of cars and what are cars today?

i can write topics about why a specific car is not upto expectations etc

over a period of time you start selling car accessories online.

or club the enthusiasts with the makeover units..

its not on internet, its in your head
Messages from Pratap chowdary Toplinked.com 2300+, 15 Million+ Network (1):

(65) Key question for anyone thinking about starting a business at any age: What is your passion? What do you want to do? You are going to spend countless hours at launching and building your business, online or brick and mortar. If you just pick something like you would a job to make money, even as a born entrepreneur you will have a rough go at it. If you even stick with it. And as someone noted, market research is key plus when you do your financial projections is it going to work and do you have the resources if you need to boot strap it for inventory if you need it?
Messages from Sylvia R.J.Scott (1

(66) I would farm your self out as an 'average 18 year old' and give high quality feedback to business on their product that are aimed at your demographic

you could do that online
Messages from Brian Fitzgerald (1):

(67) I've worked with 18 year olds, but they started off line businesses (a band, cleaning business, helping others business). What I saw was most important is that they found something they really, really enjoyed.

I know of a teenager who started an online business creating websites and makes 100K for his sites now. He was passionate about computers and learned flash when it was a newbie.
Messages from Maria Marsala (1):

(68) One important question you may need answered or have some thoughts as a potential entrepreneur, are you really convinced, confident and obsessed with what you plan to build; if answer is yes then as you have mentioned not having formal education/university degree or real life experience will not matter much. Few days back came across story on this successful startup out of Mumbai, India started by 2 brothers(one was 18 n another 19) in 1999 with a capital of USD500 and today they have turnover of over USD300mn.

One advantage as a youngster you have is you can experiment a lot be it Social Networking area, Music, Video or even creating new space. Disadvantage may be no real life experience but if one is really serious to take risk, put lots of hard work then as you go along creating your business, you will get more and more useful real life business.

Wish you all the best.
Messages from Vijay Kurhade (1

(69) take a look at this www.vmbizop.com

can we plug this into the group? http://www.vmbizop.com/ If you like it could you help me pass this to the rest of the group?

Links:


Messages from Markeith Johnson (1

(70) Wouldn't...Go work somewhere for some one else get some managment experience, team work experience, then about 22 quit and start your own thing. That way you learn valuable lessons these lessons are not in a book, they are hard unplesent experiences which shape you and change the way you see the world both good and bad. Male Female no difference let someone else pay you to make these mistakes cover your butt when it costs 50k. You need to learn how to handle other professionals, and other professions. If you go for it, and make, it good for you you are 1 in a billion....best of luck
Messages from Vince Brotherton (1):

(71) Look at what you are passionate about and what your skills and ideas are. Then work with intense focus on creating something new and different. Put together a team of people to join you who have the skills that you are missing and move forward with hard work rather than large budget.

At the end of this effort, you should have something that you have created and matches your passion. If you have a huge amount of luck and the good fortune to attract the interest of someone who can fund your efforts going forward, then you might have something that can turn into a business. This will take an awful lot of luck- just make sure you bounce your ideas against as many intelligent people that you can find with more experience and knowledge.

Even if you fail to profit, you will have gotten one of your failures out of the way.

The road to success is paved with the education earned from many failures.
Messages from Daniel Dillon (1):

(72) There are two e-businesses that I would suggest for an 18 year old:

1) eBay - There are may be many potential customers in the 18 year's neighborhood who would like to sell everyday household items and antiques on ebay, but they may not want to take the time to do so. By simply posting flyers in area supermarkets, the 18 year old could quickly/easily reach these customers and sell their items on ebay for a commission. Additionally, there are several Free Cycle entities that the 18 year old could tap into to obtain zero cost products, http://www.phillyfreecycle.org/

2) Many companies are looking to teenagers for help with coding assignments. For example, as CMS is becoming more popular, so is django and jquery. This is a quick easy way for the 18 year old to make a great deal of money while working from home. These scripting tools are easy to learn and are in high demand. Here is a 12 year old who has easily learned jquery and instructs others in this regard: http://tinyurl.com/5cfk84 Links: http://drupaldarling.com/
Messages from JC Lamkin (1):

(73) I would see if the idea you have addresses a need. Don't put too much money into it. Have a strong business plan.

Join PONY and heighten your Linkedin experience! (We are open networkers so feel free to invite me to connect!)
Messages from Palmer Woodrow (PONY) (1):

(74) Find your passion and pursue it.
Messages from Stephanie Stewart (1):