Young Entrepeuner.
Discussion
Hey,
I'm currently in my final year at school but i have decided to stay on and go to 6 form. In 6 form i'll be studying Business studies, Economics and IT. These are the subjects that i perform best in and enjoy the most. I'm confident i can get A's/B's at A level.
After A level i have decided to go one of two ways:
1. I live in Swindon and we have A LOT of car dealerships, so i was thinking of trying all of them and hoping one of them would take me on as a Car Sales Executive. I have a passion for cars and feel i would enjoy the job. Also, you get quite good benefits.
.
2. One of my aims in life is to start up my own company, ever since i first studied business and economics i've wanted to become an entrepeuner. A young one at that. However, i'm not sure what industry i'd like to enter, obviously would be quite foolish to make a decision now because i can't predict what the markets wants and needs are in years coming. However, i'm not sure what the chances of me getting funding to start up would be, i know that as a young entrepeuner with no experience i'd be very high risk.
So, i was thinking of attempting 1 for a few years, put some money aside and THEN attempt to start up my own company.
Your advice is much appreciated.
Thanks
Mike.
I'm currently in my final year at school but i have decided to stay on and go to 6 form. In 6 form i'll be studying Business studies, Economics and IT. These are the subjects that i perform best in and enjoy the most. I'm confident i can get A's/B's at A level.
After A level i have decided to go one of two ways:
1. I live in Swindon and we have A LOT of car dealerships, so i was thinking of trying all of them and hoping one of them would take me on as a Car Sales Executive. I have a passion for cars and feel i would enjoy the job. Also, you get quite good benefits.
.2. One of my aims in life is to start up my own company, ever since i first studied business and economics i've wanted to become an entrepeuner. A young one at that. However, i'm not sure what industry i'd like to enter, obviously would be quite foolish to make a decision now because i can't predict what the markets wants and needs are in years coming. However, i'm not sure what the chances of me getting funding to start up would be, i know that as a young entrepeuner with no experience i'd be very high risk.
So, i was thinking of attempting 1 for a few years, put some money aside and THEN attempt to start up my own company.
Your advice is much appreciated.
Thanks
Mike.
Spend little until you see a discernable gap in a market. Take time to talk to experienced and trustworthy successful people. Protect your idea by not blabbing to everyone however.
Being successful is quite a lot to do with gut instinct and experience so get working as you say you wish to do. Be prepared to fall on your backside often and pick yourself up and get back on the horse.
Keep going. It gets easier the more you learn!
Being successful is quite a lot to do with gut instinct and experience so get working as you say you wish to do. Be prepared to fall on your backside often and pick yourself up and get back on the horse.
Keep going. It gets easier the more you learn!
I did what you are doing when I was seventeen. I was bored at sixth form with no interest in Uni and picked the phone book up.
Rang round until I got a job at a Volvo dealer. As I was quite young, I was dogsbody during the week, delivering cars, valeting etc. But at the weekends I was allowed to put on a tie and sell some cars. very low basic, put they padi me some commission and it was enought o pay for my travelling and living expenses, which weren't very much at that age.
It was a great way to get into the business. After that experience I worked for Citroen, then Honda ( as their NSX Salesman when I was 21! - I wasnt very busy!) then finally 5 years with TVR.
Good Luck.
Rang round until I got a job at a Volvo dealer. As I was quite young, I was dogsbody during the week, delivering cars, valeting etc. But at the weekends I was allowed to put on a tie and sell some cars. very low basic, put they padi me some commission and it was enought o pay for my travelling and living expenses, which weren't very much at that age.
It was a great way to get into the business. After that experience I worked for Citroen, then Honda ( as their NSX Salesman when I was 21! - I wasnt very busy!) then finally 5 years with TVR.
Good Luck.
lucky sod!I think if your a proper Entreprenur you woudl already be doing something look at the best examples Branson that jock off of Dragons Den they were in Business Mailing Records and Ice Cream vans at your age. I did the sixth form and Degree route and then via property it took me a further 7 years to buy a pub I wish now that i'd not have gone to Uni and spent those 3 years doing other things.
Start small and work your way up, get s aweekend job at a dealership while your at 6th Form.
Start small and work your way up, get s aweekend job at a dealership while your at 6th Form.
I'd just say that once you manage to do/sell something that makes profit, you can keep it going, and youll find that new opportunities just end up presenting themselves to you, so it gets easier I Think
Good luck.
Oh FWIW, I'd also say that I do not agree that every customer matters.
98% of customers matter
2% will take up 30% of your time, and you'd be better off without them.
Good luck.
Oh FWIW, I'd also say that I do not agree that every customer matters.
98% of customers matter
2% will take up 30% of your time, and you'd be better off without them.
So if you want to sell cars and then go into business, whats the point stopping at school to get A levels?
Could be two years spend really learning the ropes.
Just the way I did things I'm now 19 with a years experience in the motor trade, 3 in different lines of business (mostly p/t stuff) everything still running though (Clarinet teaching, Nails, jewellery boutique and parties and now car sales) plus a year and a half in the construction industry doing CAD. Learnt so much more than going to school and earnt some money along the way.
Could be two years spend really learning the ropes.
Just the way I did things I'm now 19 with a years experience in the motor trade, 3 in different lines of business (mostly p/t stuff) everything still running though (Clarinet teaching, Nails, jewellery boutique and parties and now car sales) plus a year and a half in the construction industry doing CAD. Learnt so much more than going to school and earnt some money along the way.
You don't necessarily need any money to start up a buiness, depending on what avenue you choose. I started mine shortly after uni when I had no money and no experience, but crucially I also had absolutely nothing to lose. I'm now 29 and would struggle to justify taking the plunge now if I had a steady career.
Consider that when you leave sixth form it's going to be years before you could afford a house of your own even if you got off to a good start in car sales. Therefore, why not take the risk at that point in your life when you have no mortgage, no bills etc. because you're living with your parents. If business takes off you'll soon catch up with where you would have been if you'd done a 9-5 job and if it doesn't take off after three years then you're no further behind than your contempories who went to uni (yes they'll have a degree, but you'll have real experience in your chosen field). End result would be you're just as employable as a graduate anyway.
Hope that makes sense!
Consider that when you leave sixth form it's going to be years before you could afford a house of your own even if you got off to a good start in car sales. Therefore, why not take the risk at that point in your life when you have no mortgage, no bills etc. because you're living with your parents. If business takes off you'll soon catch up with where you would have been if you'd done a 9-5 job and if it doesn't take off after three years then you're no further behind than your contempories who went to uni (yes they'll have a degree, but you'll have real experience in your chosen field). End result would be you're just as employable as a graduate anyway.
Hope that makes sense!
groomi said:
You don't necessarily need any money to start up a buiness, depending on what avenue you choose. I started mine shortly after uni when I had no money and no experience, but crucially I also had absolutely nothing to lose. I'm now 29 and would struggle to justify taking the plunge now if I had a steady career.
Consider that when you leave sixth form it's going to be years before you could afford a house of your own even if you got off to a good start in car sales. Therefore, why not take the risk at that point in your life when you have no mortgage, no bills etc. because you're living with your parents. If business takes off you'll soon catch up with where you would have been if you'd done a 9-5 job and if it doesn't take off after three years then you're no further behind than your contempories who went to uni (yes they'll have a degree, but you'll have real experience in your chosen field). End result would be you're just as employable as a graduate anyway.
Hope that makes sense!
Agree with thatConsider that when you leave sixth form it's going to be years before you could afford a house of your own even if you got off to a good start in car sales. Therefore, why not take the risk at that point in your life when you have no mortgage, no bills etc. because you're living with your parents. If business takes off you'll soon catch up with where you would have been if you'd done a 9-5 job and if it doesn't take off after three years then you're no further behind than your contempories who went to uni (yes they'll have a degree, but you'll have real experience in your chosen field). End result would be you're just as employable as a graduate anyway.
Hope that makes sense!
groomi said:
You don't necessarily need any money to start up a buiness, depending on what avenue you choose. I started mine shortly after uni when I had no money and no experience, but crucially I also had absolutely nothing to lose. I'm now 29 and would struggle to justify taking the plunge now if I had a steady career.
Consider that when you leave sixth form it's going to be years before you could afford a house of your own even if you got off to a good start in car sales. Therefore, why not take the risk at that point in your life when you have no mortgage, no bills etc. because you're living with your parents. If business takes off you'll soon catch up with where you would have been if you'd done a 9-5 job and if it doesn't take off after three years then you're no further behind than your contempories who went to uni (yes they'll have a degree, but you'll have real experience in your chosen field). End result would be you're just as employable as a graduate anyway.
Hope that makes sense!
Agree with thatConsider that when you leave sixth form it's going to be years before you could afford a house of your own even if you got off to a good start in car sales. Therefore, why not take the risk at that point in your life when you have no mortgage, no bills etc. because you're living with your parents. If business takes off you'll soon catch up with where you would have been if you'd done a 9-5 job and if it doesn't take off after three years then you're no further behind than your contempories who went to uni (yes they'll have a degree, but you'll have real experience in your chosen field). End result would be you're just as employable as a graduate anyway.
Hope that makes sense!
My advice as an entrepreneur would be:
1) Learn to spell 'entrepreneur'
2) If you want to get into sales at a young age, first of all get any sales job you can that is considered difficult - copiers, franking machines, double glazing, recruitment, etc. You only have to show you can succeed in sales in areas like these and many companies will consider you for much better sales jobs even at only 19 or 20. At that age having a proven track record in selling into a competitive market is worth its weight in gold.
3) If you intend to start your own business, do it BEFORE you get a mortgage, a wife, kids or even a live-in girlfriend. You will need to have minimum outgoings and as little external pressure as possible so you can concentrate all your efforts on the first few years of the business.
Good luck.
1) Learn to spell 'entrepreneur'
2) If you want to get into sales at a young age, first of all get any sales job you can that is considered difficult - copiers, franking machines, double glazing, recruitment, etc. You only have to show you can succeed in sales in areas like these and many companies will consider you for much better sales jobs even at only 19 or 20. At that age having a proven track record in selling into a competitive market is worth its weight in gold.
3) If you intend to start your own business, do it BEFORE you get a mortgage, a wife, kids or even a live-in girlfriend. You will need to have minimum outgoings and as little external pressure as possible so you can concentrate all your efforts on the first few years of the business.
Good luck.
iMike said:
i was thinking of trying all of them and hoping one of them would take me on as a Car Sales Executive. I have a passion for cars and feel i would enjoy the job. Also, you get quite good benefits.
I did car sales for a while when I came back from a years working holiday in Oz. It was a great way for me to earn some good money to pay off the debts!A couple of things to think about;
1. EVERY dealerships is looking for a 'good' sales executive, someone with passion, drive and an ambition to be the best. There is a real gap at the moment in the industry to find the right people.
2. Go for a main stream dealer like Ford, vauxhall, Honda etc. It may sounds fun selling Merc's BMW's etc however, beleive me when I say it gets very boring when there is no one in the showroom, main stream dealers nearly always have good 'footfall' (customers in the showroom)
3. The basic salary will be rubbish (£6k to £8k) to start with however, as you will be paid commission on what you do the up shot is that when you work hard you can reap the rewards! (a good sales Ex working at the dealership I was at was earning £35k to £40k+ a year)
4. expect long hours and weekends. Not a problem when you are young because you can fit in your social life around it. (this was the reason I stoped selling cars, kids came along and wanted my weekends back!)
5. When you get into car sales, DO NOT get dragged down by the older sales Ex that has been doing it for years and remembers when they got paid x for selling a car blah blah blah. They will try every trick in the book to stop you selling more than them remember, you are paid for what you sell - it's survival of the fittest when in a dealership!
6. Selling is easy when you know how, try to find out who the best sales ex is and listen to how they do it, better than any book you can read!
Also, Sell the add-on's with each car (GAP ins, paint protection, finance) - that is where you will really earn your money. Margins on the cars are so small these days that dealerships need to improve their profits by selling these, hence why you will earn more commission from them.
7. Enjoy yourself! I had great times selling cars, hard work but fun. You will have perks like driving different cars and having a new car as a company car. Sorry to disappoint but you won't be having a 'supercar' as a company vehicle, I know people who sell Porsche and Ferrari and they have VW golfs as their cars and only allowed to drive the 'supercars' on a fully needed (i.e. no time wasters blagging a drive) test drive.
With regards to your own business, I agree with the comments about doing it while you have no commitments! I look back a wish I had done something like that!
You have nothing to loose doing both of these options (not sure on the uni thing, I never went! I have friends that did the uni thing and are earning alot less than what I am now. Doesn't always mean you will get a great job!)
give it a try, a true entrepreneur is one that may get knocked down 4 times however, still gets up on the 5th time and makes it.
Words of B J Cunningham (This guy invented the 'death cigarette' brand - google him
)Love what you do, Love where you do it, Love who you do it with and Love who you do it for.
If you don't have these then do something else!
HTH
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