Dec
14
2011

Five Tips for Teen Entrepreneur Success

What makes a teen entrepreneur successful? While young entrepreneurs may be born with some of the traits that will make them a success, many of the skills needed can be learned. This is really no different than what helps entrepreneurs at any age reach their business goals.The five tips below are general guidelines – not hard and fast rules. Even so, you may find yourself nodding at these basic business qualities. Of course, these tips won’t apply to everyone but they are a good way to get off on the right foot and save some of the struggles that can come with starting your own business.
1) Be passionate about your idea or product:
Having excitement and energy around what you are doing will help in at least two different ways. First, it will help carry you through those days of setting up your business when you may not be earning money just yet. Second, it will come across in your interactions with potential customers, your marketing and how you provide your service or product. The more excited and passionate you are, the more likely you are to get others to at least try your service or product.
2) Start small:
When we see other stories of teen entrepreneur success, we see the “after” version. This is where their teen business has already grown to a state that is big enough to get press attention. What is often missed is how small these teens started before their business grew. Starting small has several advantages including being able to serve your customers well, improving your product or service through those first customers and not overwhelming your life.
3) Have a plan:
A business plan that is. It doesn’t matter if it is written on a napkin, a piece of notebook paper or bound in a fancy binder. Having a teen business plan forces you to think through the key pieces of your business instead of jumping in and finding out that you were missing something crucial to your success. It can really be done in about 30 minutes but that could be the most important half hour a teen entrepreneur can spend in getting their business off the ground.
4) Build good relationships with as many people as you can:
Sure, you can start a web business and rarely have to have face-to-face interaction. Even then there will still be customers and customer service. Being able to get along with others is key to a good business. This skill also applies to suppliers and others. They can provide good word-of-mouth referrals even if they are not one of your customers today.
5) Get help when you need it:
By starting small, teens may be able to run the business on their own at first with little or no help. As the business grows, they may need to get others involved. That could mean hiring others as part of a babysitting or lawn care business or getting professional help through an accountant or lawyer. The key is to recognize when they need to have help so that the service and business don’t suffer.
These are five basic tips for teen entrepreneur success, but they are critical to getting started in the right direction. These tips can apply to any teen business or any other entrepreneurial business. Look at your teen business idea and see how you can use these tips to be successful.