Hot Tips On Being A Young Entrepreneur

By Author: Molly Berton
Total Articles: 76
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One good thing about being young is the opportunity of exploring beyond your boundaries with a good excuse of “because we’re young”. And this is what makes young entrepreneurship fun and ideal.

A big advantage that teenagers have is less responsibilities and more time to waste. Unlike adults who are stretching their 24-hour life thinking on how to make a living. This is an edge towards middle aged entrepreneurs who are most likely having families to take care to. Although the risk would be immense with lack of experience and knowledge, a teenager can start with what he knows…being young.

Young entrepreneurs now compete in the big business industry. Studies show that new entrepreneurs aging 16-21 are showing more vitality and perseverance to engage in a profitable market industry. Growing adolescent minds develop as fast as mobile companies introduce new breed of mobile phones. An ideal teenager can earn as much as $50 a day. Now, are you paying attention?
There are certain tips that might help for those who aspire to become a successful entrepreneur while they are young. These are enumerated in ...
... the next paragraphs.
Think Young
Majority of our population is composed of teenagers with curious mind and healthy as well that is widely open for new ideas. Introducing a new line of clothing that looks like a blast from the past would not catch their attention. When you think of putting up a business intended for the youth like yourself, is should coincide with their heart’s desire. Look at the path where they trod.
Extract it From Reality
Practical people always go for what they need instead of buying what they want. This is true over rich and the poor because of the fact that we only have limited, scarce as we call it in economics, resources. Recognize the difference? Something you want wouldn’t turn out as something you need. You would want apple juice to quench your thirst but all you need is water. Yet something you need would always be something you want. Pacify the masses with what’s essential.

But don’t settle for less and to what is traditional and basic. Instead, add up to what’s already there. Invent. Innovate. Awake your innovative mind. Improvise. Water would always be water. But when you mix minerals and electrolytes, wham! An energy drink is born.
Be a Techie
Information before is wired up to a tube. But now, it flies with the wind. Computer technology is becoming a must among everyone. Being a computer literate is a big YES in wherever industry you are planning to go into. It has successfully improved the lifestyle of business establishments, big or small. If you try to dig into the internet, billions of advertisements flood your screen. Why not clicking on one of them? You never know when it might interest you.
Count Your Savings
A penny for your thoughts? Nah, keep your thoughts, I’ll keep my penny. Putting up a business is a tough deal especially when you don’t have the appropriate amount of money to fund it. But where would a kid like you get it when your piggy bank has been used up? If you’re 13, talk convincingly to your parents or your close relatives and try to make them understand that you are old enough to run your own business and don’t let them think that you’ll just use the money for a video game.
If you’re 16, you could borrow it from your friends or significant someone. The moment you turn 18, more opportunities to borrow money or capital would come through. Business firms allowing enthusiasts to accumulate certain kind of amount plus interest, these are lending companies as we call them. With determination, you could see your money rolling.
Fine an end to teenage immaturity. Engage yourself with the information you’re made from. Don’t always be satisfied sitting down at one particular corner reading your notes from you got from school, this is definitely not enough. Being little doesn't mean you should aim and act little. Live to be able to conquer. Choose something.

Before you start any company be sure you understand the right way to keep things fair between you and your partners. The book Slicing Pie, by Mike Moyer, explains how to determine exactly the amount of start-up equity each person deserves.