I Would Have Made a Small Fortune if I Knew This as a Teenager

I Would Have Made a Small Fortune if I Knew This as a Teenager

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Frankly speaking when I was a teenager the only things I was thinking about was playing football, basketball, having fun and girls of course. Although I have been helping on a farm from the age of 10 and took a first job abroad when I was 15, the last thing I have thought about was working. And I haven’t got even the slightest clue about being an entrepreneur.

If I could I would have given my younger self exactly that advice. Learn how to make business and strive for more while having fun. The more impressed I am by the kids who start their first business at the age of 15, 13 or even 10! Seeing such beautiful stories and cultural change I can’t say more than ‘wow’. Interesting times we live in indeed.

What Are the Benefits of Starting a Business at Young Age?

It probably depends on the country how the entrepreneurship is being perceived. Still, generally speaking 20 years back children and teenagers were not so encouraged to do business on their own. It was more of a retirement idea (sic!) or when you are already well settled with your life and well off by your job.

Running your own business takes a lot of work and is very demanding, so it’s definitely not a retirement idea. At least not if you plan to take it easy. It’s also not the money you will make from your job that are crucial to set up a successful business.

Entrepreneurship: Start Young

Besides, I don’t think such moment of safely quitting your job to start a business ever happens. Do you really believe after years of hard work, raising your kids, paying all the bills, fancy holidays and brand new cars you will have enough money to quit your job?

Let alone to maintain the same standard of living, risk all that you’ve built and invest a lot of cash into something that might and most likely will not work out? I wish you nothing, but success, but you have to admit it sounds a little bit unrealistic to hit big with your first shot.

I wish I knew this when I was a teenager. That it works best to start early, try few ideas and gain entrepreneurial experience. Especially, that you do not have much to lose.

I wish I knew this when I was a teenager that it works best to start early, try few ideas and gain entrepreneurial experience. Especially, that you do not have much to lose. #hustle #entrepreneur Click To Tweet

Can a 13 Year Old Start a Business?

Unless there are some legal restrictions in your country a 13 year old can start a business without any problem. Even younger teenagers start up their own company following their passions or solving a problem they can see in their surrounding circumstances. It’s actually the best way to make some spare money, since from legal point of view you cannot be employed.

However, you will most likely need to sort out some legal and business documents, so check it out first and ask your parents to help you with that. They can set up a company on your behalf. Just make sure you will all be protected as business owner. Running your own company is not a joke, so please do it properly and consult with attorney if in doubts.

No matter how well you will be doing NEVER drop out of school and pay attention to your education.

I have to warn you being entrepreneur costs a lot of time and effort, so I can imagine you will be tired. You will need to invest few hours after school, probably work weekends as well. Reduce the fun to minimum I’m afraid. But if you will like what you are doing and you will build on your passion it will be well worth it – stay strong.

This is a perfect opportunity to make some savings for college or business itself and hire few people in the future.

Teenage Entrepreneur

How to Become a Teenage Entrepreneur

First of all you have to be a teenager 🙂 so if you are in your 20s already unfortunately I cannot help. I’m sorry, Bill. Still, even if you are not a teenager anymore these points below can be really helpful. If we have that one checked there are several things you need in order to become an entrepreneur, also a teenage one.

5 Things to do

  1. Develop a mindset of success – it’s not only about believing you can achieve what you are up to. It is also about not being discouraged when things go wrong
  2. Improve your skills and look for mentor – it would be good if it was someone you can actually ask for advice. Even online ones will do. You also need to work on your productivity and marketing skills
  3. Take calculated risk – don’t go all in. I can understand how bad do you want it, but it’s not a matter of life and death. Take it easy, don’t take the fun out of that and don’t risk too much
  4. Set goals and make plans – like Seneca said: “If one does not know to which port one is sailing, no wind is favorable”. Set yourself a goal and make a plan how to achieve it
  5. Work, work, work and then work some more – you can have everything you need, the entire blueprint and all the tips you might possibly get. If you won’t execute against it nothing will happen.

5 Things to look for

  1. Follow your heart – or your passion, your calling, however you want to call it. Do what you are naturally good at and what feels right for you, it’s your business at the end
  2. Find your niche – you need to specify what sort of business you would like proceed with. It can be selling very specific services or unique digital or physical products
  3. Seek funding (and spend it wisely) – honestly, treat it like you would have to give it back. It’s very easy to “burn” money you’ve been simply given. Don’t be that person
  4. Learn from your mistakes – you will make some, everybody does and it’s not a big deal. Your mistakes are actually a very valuable lessons and you can learn a ton
  5. Surround yourself with right people – by right I mean people who encourage you or are able to give you a great advice. It’s probably the most important on the list
Being #entrepreneur is super fun, don’t take the joy out of it by taking it too serious and risking too much #teenhustle Click To Tweet

Business Ideas for High School Students

Not so long ago I have prepared this infographic available below with 6 or 7 great business ideas you can follow if you have no or close to no money. I’m pretty sure you can find there one or two that will be just perfect match for you.

Originally, I wanted to use this paragraph to expand this list a little bit more to give you even more options. But then I came across these two fantastic articles with top 25 business ideas for teens and 37 greatest ideas for young entrepreneurs. I thought they were so good there is no point doubling the efforts.

Especially most of them are provided by practitioners and active doers, that’s pretty sweet. You can’t beat that! And I believe all of us playing this game are trying to deliver best possible solutions and valuable information. Hence, we should all act like one big happy family and I’m more than happy to share it 🙂 enjoy and happy hustling!

https://fitsmallbusiness.com/business-ideas-for-teens/

https://www.mikemichalowicz.com/the-37-greatest-business-ideas-for-young-entrepreneurs/

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