ideaI am 30 year old and I am interested to start my own but lacking on guidance and support
Please suggest
First of all, age does not matter. Even 18 year old can innovate, and 90 can too.
Guidance: You need to start attending conferences, networking sessions and also do more volunteering stuff to build up your network. Not always (good) guidance comes easily. You need to find a mentor that will be there for you at all (needed) times.
Support: Find a similar mindset person that wants to build a startup with you. For example, you want to build a startup in a Travel Industry, you may want to find your ex-colleague or friend who finds travel industry interesting or probably your idea.
Do remember, no idea is perfect. So start small, if the idea has any value, people will make it big.
Registering a company, minimum age is based on country level. You may want to check on the government portal.
Last bit, my personal quote:
Work for people, and build the network.
Other tips for building a (successful) startup can be found here.
Hope this helps.
I think Smit's answer is very good, and will add a few points.
Most startups fail. The main reason is they run out of funds. My number #1 piece of advice is to keep your overhead as low as possible for as long as possible.
Partner with people you trust. I can't over-stress the importance of this.
Do your research! By this I mean mostly market research, but it applies equally to every aspect of your particular business. Become an information junkie.
Run the numbers, ad nauseam, when coming up with your business plan. Even if you're not seeking investment, creating a comprehensive business plan with spreadsheets will be useful to you. Run high, medium and low projections, and include worst-case scenarios.
Make sure your product or service is something you're passionate about. Starting a business may involve great sacrifice, and always involves risk, so you have to believe in what you're doing.
If working with partners, when it's time to draw up contracts, use an experienced lawyer. A bad operating agreement can break an LLC. Avoid deadlock situations at all costs because unresolved deadlocks will generally result in the dissolution of the company.
CYA ("Cover Your *ss") Make sure you understand what your liability and exposure are. Protect yourself accordingly.
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