Strategies for Teenage Entrepreneurs

Teenagers have a magical way of building businesses. If you find teenage entrepreneurs who are brave enough to start their own businesses, you’ve found inspired souls.

They’re imaginative, energetic, and sometimes less afraid of failure than adults are.

However, with all their imagination and energy, some guidance is still necessary to build solid foundations for success.

So, if you know a teenager with a new business, show them this article.

Right Mindset is Crazy Important

One strategy is having the right mindset toward learning something every day about your business. The purpose behind this is to grow and keep your mind on success.

How? By reading books on the subject, listening to podcasts, or talking to someone, either by email or in person.

Books from the library make great free resources as do podcasts on YouTube. You can learn a lot from practicing this one strategy.

If you can’t find books or podcasts on your particular niche (area of interest) then read books about businesses in general.

There are hundreds of leaders that have written books on their success. You can glean ideas from them.

With whatever you are doing, learn or research a part of it every day.

It must be intentional or focused, to get to know all you can about your field of business.

Learning something every day will create a powerful mindset toward success and more confidence in you.

Growth is Strategic

Good ideas are strategic but sometimes good ideas fall a bit flat.

Some strategies work, some don’t- but either way, you will learn from them.

It’s important to tag your ideas as research and testing. Do something to see if it will work or if it will fall flat.

The marketing field calls this strategy split testing and it’s done all the time. Simply put, run A against B and see which one gets the most attention from customers.

Whether it’s running an ad or making a flyer, or if it’s a new product or service, you won’t be sure how the public will respond until you put it out in customer land.

Know that once you do offer something, the offer may not pan out the way you wanted but don’t give up. Try another strategy.

For the longest time, I didn’t realize risks in business were a must.

I struggled with this particular strategy because I didn’t want my ideas to be an expensive hobby. Neither do you.

Wasting all your dimes on something that may not get a return didn’t sound like good business to me.

This mindset kept me from doing anything at a risk, but intentional risks are what businesses are made of.

Intentional strategic risks are important because it’s a learning curve and these can be done on a small scale. There’s nothing wrong with baby steps as long as you are moving forward. Not stalling. Not quitting.

The important thing is don’t give up on your business because something ‘failed’. It was just a test. Run another test by tweaking something or changing it.

Right Relationships are Motivating

Have one person, a mentor, you can trust to have your back.

If at all possible, choose someone with good business sense.

You can get together with them on a weekly, biweekly, or even in a once-a-month meeting to discuss your immediate or future ideas to help you with marketing strategies and give guidance where needed.

This person needs to be someone you can bounce ideas off of, edit flyers, postcards, or FaceBook posts. This strategy will help your business look professional.

No matter how small your business is, professionalism means you are serious about your success. Find someone who won’t be jealous of your drive toward success and truly wants the best for you.

Another idea is if you have time for a once-a-month meeting with other teenage entrepreneurs, try it.

It doesn’t matter what type of businesses they run; mowing lawns, tutoring, or babysitting; if money is exchanged-it’s a business.

Choose entrepreneurs who want to see growth in their business and may benefit from good discussions and the exchange of ideas.

These strategies, if taken seriously, can add solid layers to your success and may make your path a little easier.

I wish you much success!

Love, Sharon

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