It is never too early to start as a teen entrepreneur. The earlier you start your journey, the more opportunity you can get to make mistakes and grow with them.
There are some excellent lessons to be learned by running your own business, including understanding what your passions are and where you want to go in life. You can also save money for college or start saving up for an apartment or car because most of your personal expenses will be covered by parental support at home.
It’s a foregone conclusion that most, if not all, teen entrepreneurs will not have an office to call their own. But shared office space is certainly achievable. If you’re near the southern tier in WNY, consider the opportunity to work in Springville’s first and only shared office space to get work done, UNOVA Coworking. We offer unmatched flexibility in memberships and amenities, and offer a unique network of individual entrepreneurs, small business owners, and at-home workers with experience and availability to answer questions along the way.
Considerations Before You Begin
1. Be specific about what you want to do. Whether it’s monetizing your VLOG, beginning a pet sitting service, or retailing things you’ve crafted online, try not to be too broad. Having a narrower focus at first will keep you from spending too much to launch your business. Look at some popular ideas for budding teen entrepreneurship and see if any interest you.
2. Do the research and prepare for it. Write a business plan. It’s not only great preparation for the future but will help you understand all the steps you’ll need to take.
3. Find a mentor who has experience in the field you want to start a business. T ry asking teachers and your parents if they know anyone, or try LinkedIn.
4. Study and learn everything about your business idea, so that you know all the ins and outs before actually starting it up on your own.
The Business Side of Business
Teenagers are born digital natives, the first generation to grow up with the internet. They know how to create and build online products, take advantage of opportunities that are available online, and market themselves on sites like TikTok and Instagram. YouTube is another excellent platform for young entrepreneurs to spread their brand awareness and create huge followings. Snapchat users watch 12 times as many videos as Facebook and YouTube viewers, so marketing there can be a good way to reach your audience.
Developing a brand and creating a logo that’s impactful and eye-catching is important for any business and is not out of the reach of young entrepreneurs thanks to the abundance of free online apps.
Keeping track of your money is easy with online apps too. Take advantage of software for invoicing clients. I t can help you keep accurate books and get paid faster. Look for software that allows customers to pay online through the invoice, gives you alerts the moment customers view and pay invoices, and offers scheduled invoices for recurring payments.
Entrepreneurship Opens Doors
Being a teen entrepreneur can be an attractive asset for any college application because it shows responsibility and drive. With the average American student applying to 9.5 colleges, it is becoming increasingly difficult to stand out. College admissions officers are looking for well-rounded applicants with a variety of interests, which could range from playing on the soccer team to starting a new business.
Teen entrepreneurs are the new trend. They have the drive and willingness to experiment with new ideas, develop products, and test their assumptions. If starting your own business is a dream, there is no better time than now to start living it.
Questions or comments? Have any additional tips or resources to share? Reply below or reach out to Jason Kenner.