4 of 16

Write now Article Tools

Many teens realize they have a gift at an early age. From the lemonade tycoons to todays teenage Internet moguls, they all blossomed great entrepreneurial minds at an early age. The following are my top tips for staying on track and prospering as a young entrepreneur.

You have to have an idea! before any planning at all, you must have a product or service to offer that will be profitable with the general public or a large targeted niche market. consult your trusted mentors to critique the business idea. Most nine-to-fiver's will shoot you down before you really get your idea across. Consulting a like minded experienced business person will give you insight, and will probably raise more questions.

Where does the money come from?
You will want to write a business plan for several reasons. I guarantee the benefits from having a plan ready will justify the seemingly hard work. A business plan gives you an idea of where your headed, when and how you plan to get there. By keeping goals and milestones, it will encourage you to keep working hard for success. My second reason is financing. Banks will not even look at your loan with a business plan in hand. It will show you are passionate and devoted to your business. In order to gain any government grants (and there are plenty available to teens) You will need a written business plan. Writing a business plan doesn't have to be hard. Take a look in your library or book store for a good guide.

Determination over criticism equals success!
There will be a lot of people out there that will put you down and say what your doing isn't possible. That is why they are trading time for money and fear risk. Surround yourself with like minded individuals that will be a positive impact on your life and business. Strive for success, and accept nothing less. Just because you are young and may not have much experience doesn't mean you can't compete with the big boys. Keep in mind, most of todays largest companies (dell, goggle, Microsoft) were created my young determined entrepreneurs.

So create a plan, consult your mentors and take a risk. because whether it is a failure or success, trying is never a regret.

Learn more about this author, Dustin Peter.
Click here to send this author comments or questions.

Add your voice

Know something about Tips for teens on starting your own business?
We want to hear your view. Write now!