Entrepreneurship for teens

ENTREPRENEURSHIP

You’re never too young to open your own business.

If you have an idea, an internet connection and some digital skills, you should be able to create the framework of a venture that earns you money.

Your study and extracurricular activities like music and sport are still important, but it’s more than possible to start your journey as a business owner while you are still in your teens.

Use the downloads and information on this page to guide your journey.

STARTING A BUSINESS 101

Answer these questions:

What will you sell?

Who will buy it?

How will you deliver your products or services?

How much will you charge?

What will you need in order to get set up and operate your business?

What will you do if something goes wrong?

Writing down the answers will help you shape your business plan.

BUSINESS MARKETING TIPS

One of the first things you need to do is let people know about your business. Follow these tips to build and nurture your customer base.

INCUBATING INNOVATION

Print these free downloads for more inspiration on your entrepreneurial journey.

INCUBATING INNOVATION

15 IDEAS FOR
YOUNG ENTREPRENEURS

15 IDEAS FOR
YOUNG ENTREPRENEURS

WHY START A BUSINESS WHEN YOU’RE YOUNG?

If you have an entrepreneurial mindset, starting a business when you’re young will give you time to make mistakes and have learning experiences.

By starting small, you can learn as you go, and be free from the stress of paying rent while you master the skills to grow your business.

There are so many moving parts when it comes to being an entrepreneur so the most important thing is to be open to learning. Read as many books and blogs (and listen to podcasts) as you can, so you can absorb information and apply what’s relevant.

Good luck! Now is the time to experiment. If nothing else, you will build essential skills that will come in handy for the rest of your life.

RECOMMENDED READING

These books are business-owner classics! Take a look at the summaries to fast-track your understanding of how to succeed as a teenage entrepreneur.

The old saying is that the secret to success isn’t what you know, it’s who you know. Keith Ferrazzi certainly believes this to be true, and with his book Never Eat Alone (co-authored with Tahl Raz), he outlines how valuable an extensive network is to succeed in business and life. Beyond this, he gives a step-by-step guide as to how to start, grow and maintain relationships that can boost your prospects. In his book, Ferrazzi demonstrates how immensely useful building connections can be. His key point is that everyone you know also knows people and therefore presents more opportunities to expand your network and career.

After five years of research, Jim Collins, author of the best-seller Built to Last, put his team’s hard work into his insightful book Good to Great. Starting with the question, ‘Can a good company become a great one?’ Collins and his team came up with eight factors that take an organisation from good to great. By examining 11 ‘good to great’ companies, Collins demonstrates exactly what it takes for an organisation to level up. Every one of the 11 companies demonstrated all of the 8 factors discovered by Collins and his team, but what’s interesting is that they can be applied to anyone at any time, whether you are looking to guide others or excel at school. There are so many parallels between business and life, which is why this book is an essential read for all ages. In this summary, I have explained each business lesson and shared how it can be applied to students and teachers.

After five years of research, Jim Collins, author of the best-seller Built to Last, put his team’s hard work into his insightful book Good to Great. Starting with the question, ‘Can a good company become a great one?’ Collins and his team came up with eight factors that take an organisation from good to great. By examining 11 ‘good to great’ companies, Collins demonstrates exactly what it takes for an organisation to level up. Every one of the 11 companies demonstrated all of the 8 factors discovered by Collins and his team, but what’s interesting is that they can be applied to anyone at any time, whether you are looking to guide others or excel at school. There are so many parallels between business and life, which is why this book is an essential read for all ages. In this summary, I have explained each business lesson and shared how it can be applied to students and teachers.

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