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Toptal Scholarships For Women

Overview

I want to make in difference in the entrepreneurial world by assisting with matching them with mentors, providing hope and motivation, helping them to shape their vision and getting it written down, helping them to stay on track as well as monitoring their mental health and promoting self-care.

 Resources

I will need a mentor that knows the ins and out of business start-up as well as marketing and steps to getting employees and getting the numbers in order.

I will need a building or online platform to begin, ill need employees, a business lawyer, an accountant, funding.

I consider myself an entrepreneur I have so many talents and interest sometimes I don’t know where to start. I love to help others, I love to communicate, and motivate people to pursue their goals. To fill this void, I want to open a program for entrepreneurs like myself to help them find their purpose or niche, to help them get their vision established, to express the importance of believing in their selves, so they don’t feel so overwhelmed and establish focus as you guys have helped me too. I have always been self-motivated and always wanted more from life I just didn’t know where to start. When asked what do I want to do I get stuck and overwhelmed because I want to do so much I have so many ideas all beneficial to the world. Now that I’ve had the opportunity to express it I want to help like-minded individuals in the same struggle as me. In detail I want to assist men and women ages 18 and up, to link them with mentors in the field they wish to go into to assist with growth and success, I want to provide an encouraging environment either online or in person where they can be around others that want to do the same, I want to help them understand the importance of mental health, self-care, and believing in themselves.

               With a vision as large and complicated as mine I know it won’t be easy to achieve but easy isn’t what I’m seeking. I’m seeking change on a large scale in a positive way something that can continue on even after I’m long gone. To start ill need a team of motivated selfless individuals, ill need a building to meet and plan in more detail, I’ll need a marketing person or people to get the word out to those who may find the service is something they need, I’ll need mentors willing to invest time in people wishing to pursue their dreams, I’ll need furniture for the building computers, ill need tax assistance I am not very good with those. That should get me started until I can expand into more cities and eventually international. I don’t want to charge but I will have to too keep the business running, lights on, employees paid, to afford the equipment. I don’t know how much I would charge I want it to be affordable so $20-$30 per person paid monthly.

               In terms of cost associated with starting ill have to estimate the majority while others will be exact. According to the U.S. Small Business Administration, most microbusinesses cost around $3,000, while most home-based franchises cost $2,000 to $5,000 to start it all depends on the business. I looked up a few buildings to lease that come with furniture included and internet totals out to about $2,328 a month. I know that I’ll need payroll about $12- $13 depending on minimum wage in the state, position title, and education, payroll taxes, health insurance, accounting, Legal about $39 a month with Legal Shield, Consultants average about $2500-$3500 a month, digital advertising varies depending on the site used and how many people you plan to reach, promotional materials, liability insurance, repairs and maintenance, and organizational dues. To calculate these, I would have to contact varies companies and most require the exact amount of people which I’m not sure about right now. I’m not sure isn’t the best of answers when looking to start a business but it is an honest one as I am in unknown territory a mentor with a history in business start-up and marketing would be very helpful.

               When it comes to statistics they aren’t very motivational there are close to 400 million entrepreneurs worldwide. Yet 20% of new companies fail in their first year, and only 50% survive through their fifth year. Knowing this, people continue to pursue their dreams of opening that business or changing the world we as humans all die one day but dreams continue to fuel our lives in more way than one. More than 25 million of those people are in the united states alone. On October 30, 2018, Forbes released an article about a new study that reveals entrepreneurs need more mentoring. Endeavor, a nonprofit organization that supports high-impact entrepreneurs across the world, says “Companies whose founders have been mentored by a top-performing entrepreneur are three times more likely to go on to become top performers themselves.”

 Kabbage, Inc., global financial services, technology, and data platform, recently surveyed more than 200 small business owners throughout the U.S. to evaluate the importance of mentorship for this group. Their findings prove the point: Only 22% of small businesses had mentors when they started their business. The statistics for new business failure are dire: 20% of small businesses fail in their first year, 30% of small businesses fail in their second year, and 50% of small businesses fail after five years when their financing or enthusiasm, or both, dry up. 92% of small business owners agree that mentors have a direct impact on the growth and survival of their business. The demand is obviously there but the supply to support it could be increased. When doing my research, I see that there are businesses like the one I plan to start that have already been invented and are successful such as Score, Micromentor, and more.              

               The difference between my business and the current ones in the same field Is ME my motivation is my family and the entrepreneurs that are coming after me. The difference is my genuine concern for others and the things I plan to do with and for the less fortunate. For me, entrepreneurship is helping others in every way I intend to open a foster home, a convalescent home where children come once a week and give life to the elderly that want to participate. I want a homeless shelter, a program that goes out and feeds the homeless as well as clothes, blankets, gives hope, assistance with getting back on their feet. I want to invent a cheaper way of talking to your loved ones in prison the love doesn’t stop because they are behind bars. I want a few volunteer’s that go to hospitals and visit patients that cannot leave due to their illness. My vision for the future is large but I have to start somewhere to establish a foundation and get the funds to pursue my dreams of a brighter future.

               I appreciate the time and consideration you have helped me to put my dream into words and start to get an understanding of cost and what I want to do. Without you, I don’t know if I ever would get it all written down most times the first step is getting it written down. I personally believe this change is needed because while the world needs employees the world also needs mover and shakers that want to change it and a solid foundation behind them to ensure their success. I believe the young and the old will benefit and future entrepreneurs. I plan to motivate and educate those that want and need it helps them to not quit on themselves or their dreams of changing the future and their lives.

 Sources:

Forbes Statistics

https://www.forbes.com/sites/kateharrison/2018/10/30/new-study-reveals-entrepreneurs-need-more-mentoring/#32c4c9f27819