If you are a child or teenager looking to start a business, this is the perfect time to start! Like any other activity, starting a business takes practice to be successful in the field of entrepreneurship. You are now at the perfect age to gain this valuable experience and learn how to launch a business. Remember that every successful entrepreneur has had a childhood like you.
Step
Step 1. Brainstorm for ideas
Think about the business idea you want and decide whether you want to sell a service or a product. Try to think about things related to your favorite activities (eg sports, music, school, etc.) and develop your business ideas from these. If you like children, you can provide babysitting services. If you like video games, create a YouTube channel with game review videos. Like your first pet, businesses need daily attention in order to survive. It's a good idea to choose an idea that suits your interests so that you are always excited to work or develop it every day.
Step 2. Think logically
Say you currently have a business idea. However, try to stay logical. Think about whether your business idea can actually make money. If your business can't make money, you're actually just a hobby. Sales are the most important thing in business. You may love to cook, but what do you need to do to make money cooking? Think more logically and don't expect too much about someone else's desire to buy your product or use your services. One of the most common mistakes entrepreneurs make is spending too much time creating a product or service, regardless of what the market wants or the willingness of others to buy it. Therefore, test your idea to others before you waste more time and capital.
Step 3. Show your creativity
This is the fun part. What is the name and logo for the business you want to run? Would you like to have a business partner? Are you going to make a business slogan? Questions like these are important questions because they can build your trademark. Brands help customers remember you and build trusting relationships. For example, if you were on a road trip and started feeling hungry, would you pull over and visit a restaurant with a brown sign with the words “Fried Chicken” or a restaurant with a sign with a golden arch and the words “McDonald's”?
Step 4. Create a team
Starting a business can be difficult and time-limited. Therefore, team building can reduce obstacles and increase the likelihood of business success. Friends, family, and neighbors can be great additions to your team. Assign different responsibilities to each person so you can divide the workload. For example, appoint one person to advertise your business on social media while the others work to create a product. You'll get closer to each team member and learn about their strengths and weaknesses. As your business grows, you will need more people to manage your capital or resources and grow it. However, don't worry. Working with the right people can be fun!
Step 5. Spread the word about your business
People need to know where your business exists. This is the time to get creative and create banners, flyers, email ads, and social media posts, and promote your business to strangers. Some types of ads may be more effective than others, depending on your idea. Make ads that are informative and colorful, but don't forget to explain why your business idea is important to potential customers.
Step 6. Run your business
Of course this is an important step. This is the time for you to lead the team and develop it. Manage your time and be ready to work every day. Don't be afraid even if your business is just a small business. Every successful business starts from scratch. Once you get your first few customers, make a good first impression. They will become your “champion” and help you get more customers.
Step 7. Congratulations on successfully running your first business
Be proud of yourself and realize that you have succeeded in turning your ideas and dreams into reality.
Tips
- Start small and develop gradually. Don't hesitate to "eliminate" the things that don't work and keep looking for things that can make your business successful because this is how a business grows.
- Show a polite attitude. A good attitude can open doors of opportunity. Don't be rude about business competitors. You and your competitors are both in business so show that you can help anyone. In return, you can get advice and support from others.
- Seek permission from your parents before opening and running a business.
- Offer free additional services or products to your first few customers.
- Stick your business banner or flyer in your mailbox or your fence. Anyone who walks past your house can see it.
- Remember to start your business small. Maybe one day you can own a big company.
- Always do or live what you love!
- Do your research before you run your own business. The research done will help you a lot.
- Never feel that the idea you have is a bad idea.
- Save as much of your money as possible so you can invest it into your business by buying equipment, advertising expenses, and so on.
- You can get inspired by asking your parents about their work (and how they do it).
- If you want to create an online business, make sure your website looks attractive and professional to attract the attention of buyers.
Warning
- Your parents may need a permit or some kind of certificate in order to run the business.
- By law, you cannot own or operate your business as a child. Therefore, you need the help of your parents to set up and manage the business entity on their behalf.
- If you want to sell products on the internet, your parents will need to set up a business account or link their personal bank account to an online payment processor.
