Starting a business is a risk. It’s the strength to leap from the “what if” to the “what is” without even knowing the end result. No one can predict if a business will be successful. No one can say that within a specific number of months, you will earn a certain amount of money. That is because no one can control the things that will happen around them.
Good thing is that we can all control what happens inside of us. It is our determination that can move the mountains of life. Starting a business is hard but it is not impossible. Convincing people to believe in a product is tough but everyone can do it! There is no assurance of business success because of external factors. Although, what happens inside our hearts and minds are the true game changers!
We will dive into that as we discover some tips on what businesses to start as young entrepreneurs. We cannot run away from the rocks along the way so we will also discover what to do about them.
Can I start my own business even when I am young?
Of course, you can, dear. Business is for everyone who wants it. In fact, all businesses started out small. There is no entrepreneur who completely figured out what to do in the first place. It all started with the desire to put up a business and earn money. That is the real score.
There are so many things to learn even during the planning time. Since it is a risk, there is a high chance to make mistakes or poor decisions. It is okay. Starting it young is, as it happens, a great time because of the longer time to improve and grow. Yes, older ones have experiences beyond what you can imagine. But you’ve got time, which is something everyone cannot earn again. Once it passed, it passed.
Teenagers have the tendency to be impulsive. Sometimes, parents would say, “Oh! That is a bad trait.” But believe me, it helps in starting up a business. It’s about making decisions without thinking about the possible effects first. It is quite risky, yes. But what makes it great is that it is like a driving force that tells every teenager, “I can do it!” and that pushes them to work hard and stand for what they believe in.
Behind the Scenes of the Most Profitable Business
Starting a business means identifying first what you want. Then, know the things needed to have it. One good factor is knowing where to get money to start, or the right people to work with. Now, if you are a young entrepreneur, you might be asking yourself, “How in the world can I do that?” At first, you are just thinking of earning money to buy the stuff you want, right? It may seem too much right now but the most profitable business in the world started with answering that question too.
How to Start the Most Profitable Business as a Teenager?
These tips are for teenagers who thought of having a business for whatever reasons they may have. In the early stages of planning, young adults may feel lost and in doubt. Again, that is okay! The good thing about this scenario is that teens think of having a business. Every seed of an idea can always grow over time. Let’s check out some ways on how to do just that.
I can do it!
The first thing to work out on is practicing believing in oneself. Teenagers who have the “I can do it!” mentality tends to get stronger and braver. They can have funds, ideas, or networks but nothing beats a business that is developed out of trust in one’s self. The most profitable business to start is the one that is founded by a brave heart.
Furthermore, believing you can do things pushes you to grab every chance in front of you. It helps you to see good things in good or even bad situations. It serves as a motivation to try and succeed. But this thinking is not always about getting what you want. It also involves failing, which is also a normal thing to happen. When you think this way, you can surely surpass every failure!
This is my passion!
In starting a business, it is best if a teen knows what he wants or is passionate about. Young adults have a longer time to achieve things, although not all of them have enough skills and knowledge to do it. Hence, it is best to start with what they already know or want. It would be hard to work on things that do not want. Teens do not like that.
Teenagers who know what they are passionate about are very blessed. However, there are ones who are still in the process of discovering their passion. A good way to do it is to check what areas they are good at. There are children who can talk to someone without much effort. There are youngsters who are good at crafts. In this way, they will discover where their passion lies. What is the most profitable business to start? Well, the one where the owner can show his passion!
I am going to sell this to my friends!
Now that you already know what to do with yourself, it is now time to check on other people. In business, you have to know who you are going to sell your product or offer your service with. Always take note that a business should be helpful to other people. You should know what service you can offer to solve a particular concern and the products you can sell to provide for others.
Knowing who you want to help is a good way to set the direction of your business. It also assists in maintaining your status in the market. For instance, you sell bracelets in school. You will now what design your schoolmates need and you will have them as your regular consumers. You help others and they help you as well! The most profitable business always thinks about this!
I know where to ask for funding!
Many stories of success have shown that some of the businesses do not need a large amount of funds. What truly matters are dedication and hard work to get the job done. In some cases, though, funding is really needed. Businesses that focus on providing service do not need much funding. But to those who will focus on selling products, funding is needed.
There are other people that help young entrepreneurs get the fund they need. Teenagers can check online to know how. In addition, they can also ask their parents for support. There is nothing wrong with starting with little as long as the goal is to make it big. What is the most profitable business to start? It is the one which utilized funding wisely!
I admit I do not have that skill!
Getting the most profitable business does not end with the mind but needs the work of the hands. It is best for teens to know that they need entrepreneurial skills to do it. The majority of teens have not yet developed these skills since they are not taught in schools or at homes. Well, there is nothing wrong with that. Everyone has room for improvement.
One good way to develop these skills is to check the lives of successful people and the skills they have developed to get there. Teens could also build friends with people who know how to grow businesses. They could go to events that have activities that would showcase their skills along the way. The most profitable business in the world depends on the skills a person has.
I am going to do it!
The best way to have the most profitable business is to act on it now! It is going to be hard because it needs time and effort. There will be days that teens will not have time to have fun. There are also moments that they have to give up talking to their friends. Even so, the result of starting is much more worth it than just planning it all in your mind.
Some teenagers do not want that, that is why it would be better to start a business that they really want in the first place. With that, they could work while having fun and they will not feel forced to earn and pay for their bills. They can do things with a happy heart. This will result in growth and the urge to help others as well.
Learning is my habit!
The best thing about teens is that they are very curious and open to new things. They are quick to understand topics and key points. They welcome corrections, which is quite a task for older ones. It’s true! In starting the most profitable business, it would be nicer for teens to learn continuously. Business does not succeed in just the snap of the fingers. It does not happen overnight. It is a process that teens have to go through.
Learning does not end with books. It involves getting to know other people, especially experts and working with them. Teens could have their own mentor for the growth of their business. Teens have good qualities but they still need an experienced person.
I do and I will!
All of the key points mentioned are nothing if teens will not do them again and again. They have to know that being on top is hard but staying there is harder. Hence, young adults should focus on growing now and building more in the future. The most profitable business in the world does not stop at planning. Its goal is to reach the finish line.
Why Small Businesses Fail
Of course, teenagers, mostly those who have no idea yet, will also think about failing. “What if I fail?” “I will not forgive myself for failing.” These are some of the thoughts they would have. That is why they could also discover the reasons why some businesses fail to be the most profitable business in the world. This can help them expect things and think of ways to avoid them even before the earlier stages of planning.
Starting it wrong
It is best to start a business that you are really passionate about. No matter how big or small your passion is, it will truly work out because you will love doing it. That is one of the reasons why small businesses grow! If your reason for your business is so you can just earn, then you are starting it wrong!
The reasons why people were able to have the most profitable business are because they focus on what truly makes them happy, they are patient in doing things, and they are not swayed by their failures. They also think that their business can be of help to others who are in need. Because of this, they show love, honesty, and respect with the products or services they offer. Take note that businesses are so much more than earning!
A business fails when the owner knows nothing about what he is doing. Now, teenagers, do not freak out. You might be thinking, “I am that!” You are not. Learn and keep on learning. That is enough to drive off. Even though you are young, you can help others. If you are planning to build a team, you can. Do not be afraid to lead a team that knows better than you. Think of it as a good thing. You can ask for their help so you could learn more.
Go to events, talk with the right people, have fun. You lack the knowledge now but stay thirsty for it. It’s good to admit what you are lacking so you can work on it. The moment you stop learning is the only time you fail.
Planning is not happening
It is best to do things when you plan for it first. Yes, the majority of teenagers act in the spur of the moment. But planning is really helpful for them to be more organized. Many businesses fail because there is no specific direction. The road to success also needs discipline. You cannot be lost on the track. Planning is surely a better way to avoid negative things from happening.
Now if you are these things, again, do not worry! You can still start your business and fly high. You can check on the traits you have and work from there.
What is the Most Profitable Business to start as a Teenager?
Knowing the traits of teenagers is a good start because they serve as the bases for what teens can do in an easy manner. There are cases that teens cannot do the business because they feel like these businesses are not for them. Let us know some traits of teenagers that could help them know the business that suits them.
The Friendly Teens
There are young adults who love talking and sharing their stories with other people. Let us call them the “friendly teens.” They are the ones who can easily get along with everyone in the room. Moreover, they have the ability to make people at ease. As a result, people share their stories as well. Concern with their friends is their priority. They could listen actively and give advice based on what they heard and believed is right.
What is the most profitable business to start for the Friendly Teens?
Friendly teens could be motivational speakers. They can share nice things to others and push them to never give up. Doing online videos is a great way to do this. In addition, they could also try tutoring. They could share their knowledge without making other kids bored or upset. Friendly teens can also focus on selling and marketing products. They can use their traits to convince others. Knowing that they are concerned with other people, they can do persuasion very well.
The Shy Young Adults
Unlike friendly teens, shy young adults cannot take being with other people because of the fear of being taught in a bad way. However, this does not mean that they cannot do business. Normally, these types of teens love staying at home. They read, watch, and talk to their families. They love doing things alone. They also have friends but only those who have built their trust.
What is the most profitable business to start for the Shy Young Adults?
Baking or cooking is a good business for them. They could learn it at home, do it with few people, and sell it without meeting other people face-to-face. They can also do blogs or writing stories online which is also a good way for them to express their feelings. Moreover, shy young adults could be virtual assistants. This job handles different roles like responding to e-mails, webpage editing, and making reports.
The Techie Teenagers
These are the teenagers who love posting their pictures, updating others, and checking on their friends online. They also love discovering stuff using computers and phones. They love online and mobile games. Social media is also one of their focus. These teens love doing things with the help of the internet. Many teenagers have this trait given the changes in our society. This is because, at an early age, they are already exposed to gadgets. Let’s see what businesses they can do.
What is the most profitable business to start for the Techie Teenagers?
People could ask for the help of these teenagers when it comes to online tasks like updating their accounts or designing their webpages. They could also fix concerns with phones or computers and provide knowledge to people on how to avoid it. People may ask these teenagers to create their own online site, do researches and typing jobs. They can also be trusted to teach anything about computers, writing, and repair.
The Artistic Teens
These are the teens who love inventing stuff from what they already have or from new pieces. Generally, they could draw, paint, sing, dance, and do other artistic stuff. They love expressing themselves through designing, forms, and patterns. They are sometimes seen as free people because they do not follow a set of rules. They love to do whatever they want to do, and they do them nicely.
What is the most profitable business to start for the Artistic Teens?
These teenagers can take photos, paint, and direct movies or films. They can teach music and help music-inclined people through instrument rentals. Artistic young adults may also sell their handmade goods to other people. They can also sell their arts, paintings, or drawings. In fact, many people buy these goods at a high price. Artistic teens can also write stories, do calligraphy, and restore old cards. There are so many things to do when you have a creative mind.
The Beautiful Youngsters
Teenagers are very much aware of the changes in their bodies as they hit puberty. Some want to have good skin, nice body, and lose weight. Because of these, they tend to be very conscious about the way they look since this is also the time that they learn to develop attractions to other people. They have to improve their self-esteem to get by with the demands of the world. As a result, youngsters focus on improving their bodies, staying healthy, and doing activities that could make them feel good. These are the teens who love to shop and exercise. They value checking on what they eat!
What is the most profitable business to start for the Beautiful Youngsters?
They can start by creating simple clothes with their own designs. They can work with other printing shops to have statement shirts which are very popular with teenagers and even adults. It’s a good thing if their mothers have old bags, clothes, or shoes because they can use them to create new pieces that they can sell for others to wear. Teenagers who love staying healthy through losing or gaining weight can also start by creating workout videos that people can watch.
The Book Lovers
Young adults who love reading have wild imaginations. They create their own world based on the stories they read in books or online books. They love checking on libraries and bookstores, mostly, when there are new releases. Designing their bookshelves is also one of their activities. The book lovers also want to share what they have in mind to others!
What is the most profitable business to start for the Book Lovers?
The first business they could consider is writing their own stories and sharing them through a book or online. Some people do not have the time to proofread or edit their own works so they can also offer that service. They could make the stories they read as the best ones if they will tell them to other people hence, they can do part-time jobs as storytellers during events. They could start a book shop, craft bookmarks, or sell their old books.
The Sporty Teenagers
Sports are also some of the hobbies that teenagers love to do! Schools encourage them by providing chances during their stay. Teenagers who love sports have the attitude of a winner. They do not stop until they get the highest prize. Their goal is not only to make others proud but to have a sense of adrenaline and winning. That is definitely a priceless feeling. They value discipline, respect, and determination. They do not stop even when the situation gets hard. The harder the situation is, the more they learn.
What is the most profitable business to start for the Sporty Teenagers?
Being a coach for kids is a good business to start for the sporty ones. They can help by teaching discipline and respect for people’s time and effort. Aside from playing, sporty teens can also take pictures of players. They can also plan for a sports camp where they can learn and let others improve their sports skills. Teenagers who love sports can also write blogs about their experiences. Sharing some tips is also a good idea.
If you are a teenager who still does not know what he likes or he is good at, it is okay. Try and try harder until you discover what you really want. Along the way, you will know that the most profitable business in the world started with the same doubt as you have but was able to find its purpose.
Most Profitable Business in the World
Now, let us look ahead and dream of becoming these top three most profitable businesses in the world. Let’s talk about how they started, the hardships they went through, and how they stood up to be where they are right now.
The Most Profitable Business in the World of Oils: Saudi Aramco
Saudi Aramco is a company that offers oils and different types of gas. They believe that energy can transform lives, improve the state of humans as well as sustain our planet. It seems like a deep and hard belief to walk by but they were able to do so for more than 80 years! However, it also faced a difficult time when it was attacked by a computer virus in 2012 which affected their services and customers. It was also attacked by a drone in 2019. But Saudi Aramco did not give up. In fact, it is now the most profitable business in the world.
The Most Profitable Business in the World of Electronics: Apple
Apple provides products like phones, computers, and other electronic devices. They are in the business for more than 40 years! What’s good about it is that it knows its purpose which is to help others work simpler and more productive. They want to help people do their work in the best way they can by using the best tools they offer. Another thing is that it allows people to share their thoughts to come up with the best product they could offer. One of the challenges they experience is how to make their new releases exciting to people. But Apple never stopped and will surely show discover what to do next.
The Most Profitable Business in the World of Banking: Industrial and Commercial Bank of China (ICBC)
ICBC is one of the top banks in the world because of its best customer service, strong innovation abilities, and capability to produce good financial services. Talking about numbers, ICBC had amazing net profits over time. However, they also experienced tough times. Profits also decrease but it still manages to handle them. In fact, ICBC also helps other banks in China that are not yet on top. That is a great deed!
Businesses by Young People
The companies I have mentioned might be too much for you who are still in the earlier stager of business planning. That is why here are some inspiring stories by kids and/or young adults that you might want to check to get that push to go do it!
Do you love bath products?
Well, Lani Jones does which was why she founded the Lani Boo Bath when she was 9 years old. Could you imagine that? She did and she acted on it. She had supportive family and friends which enabled her to act on her dream. Lani is truly an inspiration to us all!
Do you want to be beYOUtiful?
Hannah does! Hannah Grace is the founder of BeYOUtiful and believes that the only way to be beautiful is to be who you are. Hannah is a 12-year old girl who never allowed anyone to stop her from achieving her dreams. Hannah has Type 1 Diabetes and Celiac disease but with her determination and belief that she and other people are beautiful, she made it!
Are you ready for the slime game?
Maddie is! She is a 12-year old girl who founded Maddie Rae’s Slime Glue. Her online shop started with her love for slime and its accessories. Maddie did things through trial and error but was able to expand her business with other slime products. What an amazing thing to work and have fun!
The point here is that dreams can be big or small but they are all attainable by the right heart. You can make a business successful by starting with the right reason and moving wisely along the way. There is nothing wrong with committing mistakes as long as you will stand again, brush off the dirt, and do things with a braver heart!