Being an entrepreneur is not only for adults. In fact, there are a lot of teens and young individuals who are now running their own successful empires. From teen startups to being the youngest and richest entrepreneur in the world, their success is also an achievement of their parents.
To all parents out there, the question is “how can you motivate your teens to find their own business success too?” Here’s a guide to help you plan how to encourage them and get started.
What Is an Entrepreneur? Guide to Motivating Business-Minded Teens
Teen entrepreneurs are young ones below the age of 20 who possess the right mindset that enable them to take the first step in starting and sustaining a successful business.
The number of business startups that are founded by young individuals and teens is rapidly on the rise. A lot of them started their business from hobbies they get to offer and sell online through social media and other platforms.
Posting videos and blog contents have also led most of them to build an online business and gain profit from it. There are also teens who have taught themselves how to code and become the next big thing concerning creating and innovating web applications.
The things that kids and teens enjoy doing have allowed them to turn their hobbies and passion into a successful business. Some examples of these include designing crafts and projects, building things, making trinkets, making video tutorials, and posting various kinds of content.
8 Entrepreneur Mindsets for Aspiring Teens
There is a fine line between being an entrepreneur and being a successful entrepreneur. Success is the ultimate goal. To achieve that, there are certain characteristics that every aspiring successful business owner must acquire.
For most, entrepreneurs achieve success by trial and error but with these entrepreneurial mindsets, your teenage entrepreneur will have one step ahead to be the richest kid in the world.
1. Optimism is key.
Starting a business can be difficult even for adults. However, with the right mindset, even teens can achieve a successful business to operate. Optimism is always the key to going further when it comes to building a business and soon, managing an empire.
Failure is often a necessary enemy, but this shouldn’t be a cause for young entrepreneurs to give up.
2. Lack of funds isn’t an excuse.
Being short financially isn’t an excuse to forgo starting a business, especially for teens who have yet to earn money to finance their venture. Instead, your lack of funds should be an inspiration. There are several choices of ways to make money that require very little to no capital such as babysitting and tutoring younger kids.
3. You can do it!
Aside from being positive, confidence is another edge of a successful entrepreneur. If you put your mind to it and work to get your goals, then you definitely can. No successful entrepreneur became wealthy by listening to people telling them they can’t do it.
4. Take action and get started.
Having creative home business ideas is a start, but these ideas won’t give you the success you are aiming for. You have to take the first step and the next ones after that to achieve your business goals.
Don’t let possible failure stop you from taking the first step to becoming triumphant on your chosen path.
5. Risks are worth taking.
In business, there are a lot of risks you need to endure. So, if you want to grow your business, you shouldn’t be afraid to take such risks. You wouldn’t know the product of your efforts if you are too afraid to do it.
6. Don’t give up.
From starting a business to achieving success lies a lot of hardship. But, instead of giving up, you must work hard. Don’t let failures bring you down.
Failure can be a great teacher in business. You can learn from it to move a step closer to success.
7. Stay focused!
Distractions are everywhere, especially for teens. It is one of the necessary business skills for teens that aid in determining what’s essential in building their business. It also helps them stay focused on these things.
8. Do what you are passionate about and love what you do.
Especially for teens, staying focused can be a challenge. So, it is important to enjoy and have fun. The best and easy businesses to start for teens would be something that they truly love and enjoy doing.
Having these mindsets for every teen entrepreneur can help in achieving their business goals.
5 Best Money-Making Ideas for Teen Entrepreneurs
Anyone can start a business, but only a few thrive over it. Regardless of age and gender, your teen can be part of the list of famous entrepreneurs too.
Here are some online business ideas that might be applicable to them:
1. Blog and Social Media Posting
One of the edges of teens and young adults these days is their familiarity with technology, especially in the world of social media. This is also something they can leverage to start a successful business such as blog posting and social media marketing.
2. Creating Custom and Seasonal Crafts
There is still a high demand for personalized items and crafts, especially during certain seasons. If your teen has a creative spirit, this might be a great idea to start a craft business.
3. Software or Website Developing and Management
If your teen possesses a great ability regarding technology, there are a lot of options and business opportunities such as website development and management. Creating the next best thing in terms of software and games can also be a great start for a money-making venture for teens.
4. Making and Developing Beauty Products
Beauty products can be fun to use and make. They can create their own version such as a purely organic skincare line which is becoming a trend these days.
5. Selling Goods at Fairs
Fairs and seasonal shops can be a great start for teens to buy and sell various products. There are also online shops where they can advertise their products.
Starting and running a business takes a great deal of effort. Nevertheless, a business success is not impossible to achieve even for teenagers.
With the right outlook and great motivation from parents, teens can be successful in running a small business. Who knows they may even become the next up and coming entrepreneur, right?
