One good thing about being young is the opportunity of exploring beyond your boundaries with a good excuse - because we are young. And this is what makes young entrepreneurship fun and ideal.
A big advantage that teenagers have is less responsibilities and more time to waste unlike adults who are stretching their 24-hour life thinking about how to make a living. Although the risks would be immense with the lack of experience and knowledge, a teenager can start with what he or she knows for being young.
New entrepreneurs aged 16-21 are showing more vitality and perseverance to engage in a profitable market industry. Growing adolescents minds develop as fast as mobile companies introducing a new breed of mobile phones. An successful entrepreneur can earn as much as $1000 a day or much much more.So how do they do they do it?
1.Think Young - Majority of our population is composed of teenagers with curious minds. Introducing a new line of clothing that looks like a blast from the past will not catch their attention. When you think of establishing a business venture intended for young people like yourself, it should coincide with their hearts desires. Look at what they like and how the products make them feel.
2.Extract it From Reality - Practical people always go for what they need instead of buying what they want. Recognize the difference? Something you want wouldn't turn out as something you need. You would want apple juice to quench your thirst but all you need is water. Yet something you need would always be something you want. Pacify the masses with what is essential.
3.Invent and Innovate - Don't settle on what is traditional and basic. Instead, add up to what is already there. Invent something new or innovate an existing product. Awake you innovative mind. Improvise. For example, water would always be water. But when you mix minerals and electrolytes, wham! an energy drink is born.
4.Be a Techie - Information used to be wired up to a tube for many years. But now, it flies with the wind and travels through invisible waves. Computer technology has become a need among everyone these days. It has successfully improved the lifestyle of business establishments, big or small. If you try to dig into the internet, billions of advertisements flood your screen. Why not click on one of them? You will never know when it is something you are looking for.
5.Count Your Savings - Setting up a business venture is a tough deal especially when you don't have the sufficient capital to fund it. But where would a kid like you get it when you piggy bank is hardly big enough? If you are 13, talk convincingly to your parents or your close relatives and try to make them understand that you are responsible enough to run your own business and don't let them think that you will just use the money for a video game. If you are 16, you could borrow it from your friends or a supportive partner. The moment you turn 18, more opportunities to borrow money or capital would come through. Many business firms allowing enthusiasts to accumulate a certain kind of amount plus interest: lending companies as we call them are willing to invest in your venture. With determination, you could see your money rolling in.
Find a cure for teenage immaturity. Engage yourself with what you are made of. Don't be satisfied just sitting in one corner reading your notes. Being young does not mean you have to aim and act small. Live to conquer. Start with something so that you will end with something.
Paul Hata is active in various social and community programs.Paul has over 10 years experience in managing a multi-million dollar advertising co.Access 1000s of affordable education,healthcare and jobs here - TradePlanets.com and EarlyPlanet.com