How To Be a Teenage Business Whiz
Guest written by Sharon Wagner
If you want to earn extra money to save for college but are tired of working on someone else's schedule, seriously consider starting your own business. You may wonder if that's even possible for a teenager. DontWorkAnotherDay.com says yes, it’s indeed doable! If you plan carefully and practically and make a firm commitment to achieving your goals, you may just become a teenage business whiz. If you’re looking for some tips to help you get things started, check out the following guide.
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Benefits of Owning a Business
Owning and operating your own business can seem a little overwhelming, but it can also bring you many benefits according to Enterprise League. Just think of how much you can learn! You can develop your problem-solving and management skills and learn how to handle money and cultivate your customer relations. You can even give your creativity a boost, and of course, you can earn some money.
Ideas for a Practical Choice
Your first step in starting your own business is making a practical choice about what kind of business you want to start. Play up your talents and interests. Do you love working with animals? Consider starting a pet-sitting business. If you're great with kids and good in school, you might babysit or tutor or both. Try a lawn-mowing or gardening business if you love working outside. Choose something that fits you and that you enjoy.
Best Practices to Get Started
When you've decided on the type of business you want to start, determine the structure for your business. You might start out as a simple sole proprietorship, but you can also consider forming a limited liability company to take advantage of some tax benefits, flexibility, and, of course, limited personal liability. LLC rules and regulations vary by state, so read up before you dive in.
Shopify suggests also writing up a simple business plan at this point. Include a brief description of your company and its purpose, an overview of goods or services, and a breakdown of tasks, marketing strategies, and your budget. Pay close attention to the last one. You need to plan for start-up costs.
Marketing Strategies
In terms of your marketing strategies, you should set up a website and social media accounts. By using social media, businesses can target their audiences with laser precision, making the most of limited marketing budgets.
One popular marketing tactic that businesses have been using with great success is memes. Memes are visual images with humorous or topical captions that can be easily shared online. Because they are often shared by users without any accompanying text, memes have the potential to reach a large audience with minimal effort. You can use this meme creator online to save time and put together impressive memes without a lot of fuss.
Don't neglect more traditional marketing methods. Make up some business cards for yourself, for instance. Business cards give your clients something tangible to help them remember your business.
A Lifelong Endeavor
As you get going in your business, you may decide that owning and operating your own company is something you want to do long-term. In that case, look into earning an online business degree after you graduate from high school. Choose from a variety of options, such as business management, leadership, or marketing, and whatever you learn can be reinvested into your own business, offering lifelong benefits.
A Teenage Business Whiz
If you work through each step of starting, running, and marketing your business, you may just find yourself a teenage business whiz. Get started today!