In this post you’ll find a few business ideas for young entrepreneurs that you can start applying today.
Business used to be a field for grown-ups with kids. Today, we see people having their entrepreneurial spirit awaken at younger and younger ages. The freedom to do what one wants regardless of age, the increasing support of parents, plus the wide usage of the internet, could be a few of the causes for such a phenomena.
Examples of people who “made it” at a young age include: Cameron Johnson who according to smartbusinesstrends.comstarted his entrepreneurial journey at 5 and by the age of 12 “he was making more than $50,000 -a-year!” and Ashley Qualls, the owner of whateverlife.com, who started her website about layouts and HTML tutorials at 14, and by the age of 17 she was a millionaire. There are lots and lots of examples like these, and the only reason why they are not widely known is simply because we don’t expect the younger generation to be building their own empires.
Business ideas for young entrepreneurs
When it comes to business, value is what matters the most. If you’re able to build a service, or product that gives massive value to the costumers, you have a high chance of being successful on your business venture regardless of age. Sometimes the young ones have the skills required to build such product/services, just like the example of Ashley Qualls mentioned above.
Below are a few business ideas for young entrepreneurs that are based on the skills they are more likely to have, as well as their need for little to no starting capital.
1. Product review Channel
One amazing thing of today is the fact that we tend to look for information about products the products we’re planning to byt from the internet. With the large array of people ready to help, we get to make an informed judgement about the products our future purchases for free.
We could easily think that the people who research about products on the web are only adults with kids, but the truth is that as time evolves, it becomes more and more common for even underage people to not only have the power to buy what they want, but to also be the ones responsible for the research. So, if you’re young, and you enjoy reviewing your latest purchases, then you can take advantage of this by creating a YouTube channel about those products.
Literally anything you have home as long as the brand is known and in some demand, can be subject to a product review that other poeple will be interested in watching. With time, as you grow your following, you can take advantage of the traffic your channel/website gets for advertising. Keep in mind that (1) It will probably take some time to grow your following and (2) your reviews must be honest.
Tips to make your channel successful
1.1 Keep learning
Learning will be a very important part of your success. Not many people talk about this and the ones who do don’t emphasize it enough. Business is competitive, and knowing more than the competition is one of the greatest advantages you can have. This means reading more about how to build a successful business than ever before, and reaching out for mentors who can shorten your learning curve.
The mentor should be a person who’s doing the same thing you want to do, and is successful at it. For this route, good mentors would be people who have some experience with YouTube.
It’s becoming more and more common for entire YouTube channels with thousands of subscribers to be all about games. The videos are usually about how to pass a certain level of a game, and if you’re passionate and good at a certain game or style of games, you can take advantage of this by creating your own YouTube channel about games. In case you don’t know, gammers do enjoy watching other people play games 🙂 .
Unlike reviews, for this one, creating a channel on YouTube is better than a website. This is because websites are mostly composed of text and it would be more complicated an unnatural to add video tutorials. A YouTube channel however, is all about videos.
If you really like games and your the kind to spend hours playing, most of you job is already done. All you have to do is to record yourself playing and upload the videos to your YouTube account. Just like with the product reviews example, as you grow the number of subscribers, you can eventually start making money through advertising.
3. Help someone
There are many things people would be willing to pay you money for. Your job is to find those things. Examples are: taking the garbage every week, cleaning the sidewalk, Shaving the snow on winter time( if you live in a country that snows), and pretty much anything that if you do for someone else, it will make their lives easier. This might not look like a business, but the truth is that in a way… it is. In You won’t not be serving only one person, but many. Just like a doctor who works for himself, he owns a business in which he provides a service to people.
4. Focus on your hobbies
Hobbies are usually the place from which many young and successful entrepreneurs make their money. The thing about being young is that the younger we are, the greater the tendency to only do what we enjoy. As we grow, we become more likely to be willing to do the things we don’t enjoy in the exchange for money. This could be one of the reasons why some of those teens who become early business owners. The passion they have for their hobbies goes to the business.
Today, pretty much any hobbies can be converted into a business. Examples include the first two tips in this post, as well as fashion, music, acting, dancing, etc. If you look hard enough to your hobbies, chances are that you’ll find a way to build a business around it.
As we talked about on point 1.1, it’s important to be hungry for knowledge. When you know more you learn to think in different ways, and often this also leads to new business ideas. Create the habit of thinking about new ideas and writing them down in a private notebook, and who knows? ,if none of the ideas above suits you, you’ll be prepared to find one on your own. So, the big take away from this post is to learn, learn and learn.