Aspiring Entrepreneur --- Manufacturing & Capital

[cmorr7]

Hello all, I'm finishing my senior year of high school and preparing to attend a 4 year university and major in entrepreneurship. I'm aware many people think I'm too young and that I'm only interested because of the money incentive, but I'm truly passionate about running my own business. I've always loved the concept of working with money and products and customers, and the idea of taking an idea of my own and turning it into a full fledged business is not just a dream but a goal of mine. I spend a majority of my day with my nose in my computer or phone researching and reading articles from Forbes, Entrepreneur, Investopedia, and many other small websites, because I truly want to bring my dreams into focus and start chasing them down. I'm aware that businesses are highly risky and volatile, and profit is not only small at times but also not guaranteed. I'm a very driven person when working with something that I'm passionate about, and needless to say entrepreneurship and money are things that I am, above all else, passionate about. I don't usually use forums, but I figured this one would be excellent to bang out some questions that I have along the way. Now monologue aside, I've hummed over multiple ideas for business but my primary concerns come down to a few things. I've thought of a few small cost startups that I plan to begin in college, nothing dazzling. For future reference though, how does a "small business owner" go about creating their product. Say I wanted to create the next smart phone (completely exaggerating), obviously, I'm young, and self made capital is an issue, as I'm paying for college alone and most of my checks to this point have covered various other expenses (and are invested in stocks), how would I go about turning my "blueprint" for my product, into an actual shipment of "product" that I can market? I've heard about outsourcing, and clearly that is what it will come down to considering I'm not an inventor or technician, but how do I go about this process? Another question, more simple, how do I go about finding loans and even angel investors for my startup? As I stated, capital is a massive obstacle for me, and I don't want that to constrict the scope of my projects. Is it as simple as taking out a personal loan from a bank? Or are there more specialized and specific methods of getting "business loans"? Thanks in advance again, and props to anyone for reading my short essay. I appreciate any help!

[Barcode Parade]

It's not about what you want, it's about what people need. Capitalism is not a utopia for the narcissist but rather a cornucopia of empathy. To be successful, you need to be able to get into other people's shoes with ease.

You should start off by getting a job in the area of your interest. Learn the market and work on the field interacting with the people you're eventually going to sell your product to. Over time you'll see if your idea has a place in that market.

[Fulcrum]

What's holding you back from starting to manufacture your device/invention on a small scale in your basement/garage?

Don't let your age, (lack of?) schooling, and limited experience be what holds you back.

Having limited funds when starting out can be a blessing in disguise as it will force you to do things in small batches and it will force you to find the most efficient method given your current level of technology.

[Mak1178]

99% of small businesses can be started for a low amount of capital. That being said, why not make a prototype of the device or make the business you want on a smaller scale. Most banks won't even give a business with real orders a loan. Don't let any of that stop you, its all about persistence in this world.