 More teens than ever are ditching the usual, “would you like fries with
that?” kind of jobs and are opting for being teen entrepreneurs
instead. Taking their cue from such teen business superstars as Ashley
Qualls (pictured; founder of Whateverlife.com) and Catherine & Dave Cook
(Founders of MyYearbook), teens are getting involved in upstarts around
the country with oftentimes amazing results. Whether they are cutting
grass on the weekends or pioneering new career paths online, one thing
is for sure: teens are not only surviving in the entrepreneurial world
– they are thriving.
Before the internet—yes, there was life before it—teens had a much more difficult time starting their own businesses. Now, it has totally leveled the playing field and age is no longer as important. Nowadays, the only thing limiting you is your imagination, skills and determination. Even if your business is offline (pet sitting service, for example) having some sort of online presence will help you reach more customers, build your brand, and bring in multiple streams of income.
But Why Start A Biz? I mean with tests, homework, friendship drama, most teens already have a whole lot going on. If you are looking for financial independence, creative expression, to make a difference or put your unique talents or abilities to good use, you might just see that small sacrifices now have the potential to lead to big rewards later. Take Ashley for instance – at 17 she paid cash for a house to share with her family and now employs her mom and best friends.
So what does it take to BYOB (Be Your Own Boss) while still in high school? Drive, determination, and self-motivation are all important character traits of an entrepreneur, but as Mark Victor Hansen, author of the upcoming book ,The Richest Kids In America: How They Earn It, How They Spend It, How You Can Too, says pretty much any teen can do it. Here’s how.
Vision: When it comes to creating a vision for your business, try sticking to something that you are hopefully passionate about, but at least interested in. Ask yourself these questions:
1. What do I enjoy doing so much, I’d do it for free?
2. What special talents or abilities do I have?
3. What specific need could I fill?
4. What service or product is there a demand for?
5. Do I want an online business, an offline business, or both?
Plan: Once you have a vision, it’s time to create a plan. Basically, it’s the road map getting you from where you are to where you want to be. Here’s some things to think about and put in your business plan.
• Mission Statement: What is your company all about, what does it stand for? Are you providing the most fun, creative babysitting experiences for kids, or are you dedicated to providing top quality custom designed motivational t shirts to all your friends at school? Be specific when it comes to your mission statement, and write it somewhere you will see it often.
• Objectives: What are you hoping to achieve? To be the #1 online resource for pre teen girls on your chosen topic? To be the go to landscape artist in your neighborhood? Set some goals!
• Name: When it comes to naming your business, keep your target market in mind. Is it something they will understand, that will catch their attention and be memorable, while accurately describing your products or services? Come up with a list of names and run them by your audience.
• Finances & Equipment: What kind of financing will you need? Do you have savings to use, or will you need investors? What kind of equipment will you need and will you need to buy or rent it?
• Marketing: No matter how great your product or service whether it’s online or off, if nobody knows about it, you won’t have a business. Getting the word out is KEY, so how do you do it? It depends on lots of things like your target audience, location, products and services, so researching your market is a must. Once you know who you are selling to, find ways to get info on what you do in front of them. This could mean flyers at day cares offering your unique babysitting services, posts in message boards about your new website, giving away product samples at events, offering coupons in the paper, writing press releases and pitching media, offering promo items with your contact info on them, going door to door, or any other creative way you can think of. It’s important to build a marketing plan that fits your budget, and sample different options before putting all your cash into something that may not work out.
Action: You could spend your entire life waiting for the “right time” to start a business, but the truth is, there is no better time than now. Nobody ever achieved anything by just thinking about it, so start from where you are, today. Here’s how:
• Take advantage of your online presence and use your network to your advantage to get your product or service out there. Post a bulletin, create a group, or update your status with your business info.
• Go out and canvas the neighborhood (online or off) and get your info in front of your buyers.
• Get your friends involved. Ask them to help you with spreading the word, creating your products, or hire them to come on board.
• Ask for help, seek out mentors and make the most of your contacts.
And don’t let the economy scare you. Just because its less than great doesn’t mean you should forget about starting your business – in fact, it’s the perfect time! Why compete with older more experienced people for jobs when you could work for yourself instead? Plus, by thinking outside the box, you could actually make the current economic situation work for you. Check out these ideas:
• Bike/Skateboard/Roller Blade Repair: With people trying to save money on gas or car payments, bike usage is way up, so take advantage of it! Offer a repair service in your garage.
• Relaxation Supplies: People are way stressed, so providing them with handmade scented candles, bath salts, music, etc is a great idea.
• Start an Ebay or Etsy business. It doesn’t cost anything, and you can earn a ton depending on what you sell.
• Babysit 2.0: Yes, it’s an old stand by, but lets shake it up! Lots of families are looking for ways to cut back and save, so combine your services. How about a babysitting/tutoring/housekeeping service? Or a babysitting/yard work/computer fixing service? See where I’m going with this?
• Love animals? How about a pet sitting/waking/grooming business, while you make all natural shampoo or organic dog treats? Bonus points for making it portable.
• Be a community concierge: Make up business cards/flyers and take them to local businesses or households offering your services for running any and all errands. Pick up groceries, drop off dry cleaning, the possibilities are endless. All you need is a cell phone and a mode of transportation.
• Sew: As in, making old clothes new again. Either do it on a case-by-case basis, or hunt for bargain finds to transform and sell to your friends or at flee markets.
• Catering: Perfect if you love to cook! Offer fun, creative services like “date nights: recreating the restaurant feeling in your own home” or be a full service event planner, throwing themed parties for kids birthday parties and baby or bridal showers.
The possibilities are endless! The bottom line is, have fun, take a risk and see where it goes, because you never know. At best, you will create something that will totally transform your life, and at the very least, you will have a blast, learn some priceless life skills and create summer memories to last a lifetime!
By Kate Whitfield - Kate is a 23 year old on a mission to empower girls, young women to take action and totally transform their body image, self esteem and the vision for their lives. She is the founder of Empowered Gal Inc and the author of the teen girl handbookThe Empowered Gal's 9 Life Lessons. For more information please visit www.empoweredgal.com
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