Comprehensive Guide to Launching a Business for Millennials and Gen Z

Starting a business today comes with some fantastic advantages: there are countless high-quality resources online, many of them free. Here are some valuable links that provide inspiration and guidance for creating a platform, website, or full business.

Essential Tools and Websites

In today’s fast-paced world, business content is often shared through short blogs, videos, or other media, making it easier to digest. Modern tools for website and business creation are more user-friendly than ever, allowing entrepreneurs to get started quickly.

Wix: As of 2017, 110 million people were using Wix to build their own websites. This platform offers over 500 customizable templates, and it’s free. To help users maximize their sites, Wix also has a YouTube channel with tutorials on Wix Code (from beginner to advanced), SEO, photography, and ADI.

U.S. Small Business Administration (SBA): The SBA provides tools to support entrepreneurs, including loans for eligible small businesses and connections to mentors and trainers. Their website is packed with resources, organized by state for easy access.

TED: This nonprofit organization shares big ideas through short, impactful talks. With thousands of videos, TED Talks on business offer valuable insights from industry leaders, providing a convenient way to learn from experts.

Business Publications

Experienced professionals share valuable insights through articles and videos, often free of charge. Here are a few noteworthy publications:

How to Start a Small Business in a Few Hours?: This Inc. article simplifies the process of overcoming administrative obstacles when starting a business.

The 3 Most Important Legal Structures for Startup Success: Business Insider explains the key legal structures for startups and the necessary documents for each.

7 Tips for Building a Successful Company: In this Fortune article, business strategies are explored, from keeping your passion alive to selecting investors.

10 Rules to Build a Wildly Successful Business: This Forbes article discusses the importance of standing out and offers practical advice for managing resources.

Business Types

Choosing the right business model is crucial, as different structures come with unique legal and tax implications. Here are some resources to help with this decision:

A Skill Set for a Successful Sole Proprietorship: BizFluent discusses essential skills for managing a sole proprietorship.

7 Tips for a Successful Business Partnership: Business Know-How provides insights into setting partnership goals and boundaries.

5 Reasons Why an LLC is the Right Structure for Your Startup: This Inc. article explains the benefits of forming an LLC, including tax and asset protection.

Getting Your Corporation Started: Money offers a step-by-step guide on starting a corporation, from choosing a name to drafting bylaws.

Funding: Credit Cards and Small Business Loans

Securing funds, whether through loans, investors, or credit lines, is a key aspect of starting or expanding a business. Here are some general tips and specific guidance on credit cards and small business loans:

10 Ways to Finance Your Business: This Inc. article discusses various financing options available to aspiring business owners.

You Want to Start a Business — How Should You Finance It?: Entrepreneur advises new business owners on sound funding options and potential pitfalls.

Credit cards can be a viable financing option for entrepreneurs needing initial funds. According to a Bank of America survey, half of millennial entrepreneurs rely on external funding, often through credit lines. Here are resources on using credit cards to finance a business:

Using Credit Cards to Fund Your Business: This Entrepreneur article explores how credit cards can help expand a startup.

The 8 Best Small Business Credit Cards to Open in 2018: Business Insider compares business credit cards based on small business needs.

Securing business loans can be a complex process. It’s essential to determine the purpose of the loan, its term, and any collateral requirements. Here are some useful articles on the topic:

Getting a Business Loan: This Money article outlines each step of the loan application process, from initial questions to using the funds wisely.

Get More Funding: The SBA offers various funding options, detailed in this resource-rich article.

Avoiding Debt

Debt can be a long-term burden. With many millennials and Gen Z entrepreneurs already dealing with student loans, taking on additional debt is a serious consideration. Here are some resources with practical tips for avoiding debt when starting a business:

How to Keep from Getting Buried in Debt When Starting a Business: All Business provides strategies for managing funds to avoid debt.

3 Ways to Start Your Business Without Going Into Debt: The Muse offers actionable advice on debt-free business startup options.

5 Strategies for Entrepreneurs to Steer Clear of the Debt Trap: Entrepreneur suggests five methods for avoiding debt, starting with thorough planning.

Investing

Investing wisely is key to growing a business. The resources below cover the basics of smart investing, from what to pursue to potential risks:

3 Early Investments Every Entrepreneur Should Make: Entrepreneur highlights three investments that can benefit new business owners.

How to Invest When You Have Student Loans: Financial Diet explains how to invest even while managing student loan debt and discusses the long-term benefits.

This guide should serve as a helpful resource for Millennials and Gen Z entrepreneurs embarking on their business journeys. With so many free tools and resources available, starting and growing a business is more accessible than ever.

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