Adults are not the only ones who are successful entrepreneurs. There are some teens who have already exhibited entrepreneurial skills and who are successful business owners.
Parents often train their children to attend college or learn a trade, then seek work for a major company. However, not enough parents train their children with an entrepreneurial mindset and how to use their skills to start businesses at an early age.
Start by having your children read age appropriate books on money management, career planning, and owning a business. Then seek out ways for them to sell things and manage their earnings. For example, you can have them sell used toys and clothing online for profits.
Leanna Archer started selling her homemade hair grease to others when she was just nine years old.
Now she’s 17 years old and has a complete line of natural haircare products. She has received attention from major business magazines such as Forbes and her haircare line is quite successful. In addition to this she has a foundation for underprivileged children.
This teenager is on his way to becoming a millionaire thanks to his app called Summly. Summly is a cool app that summarizes news articles for iPhone users. He’s only 15 and already he received financial backing from Horizon Ventures.
In 2013 D’Alsio’s company was purchased by Yahoo and he is creating strong financial stability for himself before even attending college. This shows that with determination and skill, one can own a business while in his teens.
Fraser Doherty is the very young owner of Grammy’s Jam and he got the idea from seeing his grandmother prepare jams from scratch. He got the business off the ground at 14 and from that point on he has been selling the jams to local neighbors and the general public.
At some point his business succeeded so much that he left school to devote himself primarily to the business. In addition to this, Doherty’s jams started selling at a major supermarket in the UK.
Mark and Michael Guberti
These brothers come from Scarsdale NY and the whole purpose of their venture is to assist other teens in starting their own businesses.
They accomplish this by traveling around the country and meeting with parents’ groups and social clubs designed to mentor teens. The name of the company is Teenage Entrepreneur and they hold coaching sessions for a decent fee.
Now For Advice For Aspiring Teen Entrepreneurs
We conclude this article with a few pointers for teens who are itching to be entrepreneurs. The first step is to know what you’re passionate about and then use this as your springboard to build the company on. The next thing you should do is research the market to determine if it will accept the products you’ll sell. See if your products will be purchased by a certain demographic or not.
You should also seek out creative ways to get funding and exposure for your business and you can do this by attending networking events, creating a business plan or seeking help from crowdfunding sites. If you utilize these steps, you can become a successful entrepreneur.