Dear Pam,

I’m a 22 yr old who has just finished college. I have interviewed for several entry level positions but I am finding that they are paying very little money. While in school, I detailed cars to make some extra money. I really enjoyed detailing and on a part time basis I was making more than half of what some of the companies are starting out at. I’m now trying to figure out what I want to do with my life. Do you think I’m too young to start my own business?

Sincerely, New Grad

Dear New Grad,

You’re never too young or too old to start a business! I think it’s great that you have the entrepreneurial spirit at your age. In order for you to decide what you should do it’s important that you sit down and evaluate the pros and cons of starting a business. Take a sheet of paper and in one column write down all of the positive things of starting a business and on the other side write down all of the negatives things that would be associated with starting your own business. If it turns out that you see more positives than negatives then I would say that you’re ready to take the next step.

At this point, my advice to you would be to sit down and put together a business plan, plan of action and then a marketing plan. Here are a few things that you may also want to think about:

• Do you need to have a license or insurance for your business? 
• Where will you get your customers and how much you plan to charge? 
• Will you go to their home or office or will you be stationary and have a set location?
• If you have a set location and decide to start from your home, will it cause any zoning problems?
• Does your home owners association allow home businesses such as yours?
• What will it cost you to get started and where will you get the funds?
• Will you need any employees to help you operate your business?

Before you get started you must remember that it’s going to take a lot of time, money and hard work. As my friend Chris Gloss says “To become successful you’ve got to put some work into it. The only time that success comes before work is in the dictionary!” I think that statement best sums it up! Congratulations on your new endeavor.

To Your Success!

Pam Lawhorne

Pam Lawhorne is a business strategist and marketing consultant with over a decade of experience in small business development, sales, marketing and management.

She empowers individuals with the skills that are necessary to successfully launch, expand or increase sales for their business.

For more information on starting your own business please order her new book “From Minimum Wage To Getting Paid - How To Become A Successful Entrepreneur With No Money, No Education Or No Experience!” 

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