How to Start Your Own Business as a Young Entrepreneur: A Step-by-Step Guide to Success

What’s Stopping You? 

Do you ever feel like you aren’t taken seriously just because you’re young? While there is something to be said for experience and wisdom, kids can – and should – do amazing things!

Starting a business can be one of them. With the internet and the multitude of opportunities available online, more and more young people are making their business dreams come true. Here, FutureSTRONG Academy offers information on how and why you should make your start today.

Benefits Of Starting A Business

Besides earning some good money, the benefits of starting a business as a teenager can include improving your money management skills and helping to build important character traits like perseverance, resilience, and resourcefulness. You are also not likely to invest a ton of money into your endeavor, so you can gain great experience with a lot less risk than if you wait to start your business in adulthood. This experience can be invaluable to you as you get older and develop even more business ideas.

Want some more reasons to become an entrepreneur? Here are a few:

Learn Time Management Skills: 

In the world of business, time is money, and this is where learning practical business skills can help you become a better steward of your time. When you start a business, it also teaches you how to prioritize more important tasks over less important ones. That way, you can concentrate on those things that will be important to you financially.

Discover and Express Yourself: 

It can be difficult to express yourself if you’re a teen because these years are such sensitive ones. However, the brilliant part about starting a business is that anyone can do it, even if you’re shy, introverted, extroverted, or somewhere in the middle. Plus, you get to unleash your creative side as you explore and make a living out of those things that bring you joy and fulfillment.

Some Ideas Worth Considering

When it comes to business ideas, the sky really is the limit. But if you’re looking for a quick overview of possibilities that many teens are making use of these days, some ideas worth thinking about could include:

• Babysitting
• Dog Walking
• Social media marketing
• Vlogging
• Writing
• Tutoring
• E-commerce
• Opening up your own pop-up shop

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Teen Entrepreneur

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Best Practices To Follow

Most businesses that get off to a strong start follow some best practices. First, you need to think of a niche that no one else has (or very few people have) that your business can fill. Once you have that idea, take the time to write up a business plan. It’s more fun to jump right into the big stuff, but writing your plan will cause you to think about important questions and articulate your ideas more clearly. It’s worth the time and effort. Next, begin formulating a marketing strategy that sets you apart from the rest.

Some other important strategies include:

Using Technology to Your Advantage: 

As a business owner, you are going to have a lot on your plate, which as Digisecrets explains is why you should be using technology to make your life easier. When technology handles some of the day-to-day responsibilities, then you can focus on building your audience. For example, if you have a lot of paperwork to complete in the beginning and you have to edit PDF documents, use a free PDF editing tool. You can make changes to the documents by simply uploading them and changing them online instead of having to convert them to another format beforehand. You can also automate things like tracking expenses and receiving payments.

Use Stock Footage for Visuals: 

Visuals are a key ingredient in engaging your audience across various electronic media. But unless you are passionate about videography and photography, let the experts do some of the legwork for you. There are great royalty-free stock image sites that you can use as building blocks. With high-quality video background options for your website or social media profiles, you can create content that’s exciting and informative. There are fees, but stock videos are a much smaller time and price commitment than doing everything yourself or hiring a freelancer.

Choose the Right Business Structure: 

The type of business structure you decide to choose will also have implications down the line. An LLC is a worthwhile option if you’re anxious to get down to business or lack the patience to deal with large amounts of paperwork. There are also other benefits, too, like certain tax advantages and limited liability, which can take a lot of worry off your shoulders because your (and your parents’) personal assets (such as the house you live in and your family’s vehicle) will be protected.

Follow Your Entrepreneurial Interests

As you can see, starting a business is something that almost anyone can pursue regardless of age. Staying organized and on top of everything will help you achieve your business goals. Take the time to make a plan, and use technology and stock footage to make your life easier. With the right idea and some hard work, you might just develop the next big thing!

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At FutureSTRONG Academy, we believe in the power of supporting the whole child. We offer courses in robotics, coding, and chess, and teach the importance of critical thinking. Visit us online to learn more! 

Images via Pexels and Unsplash

Article Author: Lacie Martin

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