How To Be a Young Entrepreneur

Teaching your child how to be a young entrepreneur can be a fun adventure for the whole family. You don’t have to be Bill Gates to do this.

You just need to be able to point your children in the right direction and give them some encouragement and advice.

One area that all our children have no trouble with is lots of ideas. You can help fashion some of those ideas that have the potential to be real business ventures and possibly change the world for the better.

We have found an excellent resource that we help get the creative juices flowing and provide some practical ways to start the journey towards entrepreneur success for your children.

By assisting your child through this process of becoming teenage entrepreneurs, they will be able to put their talents and non-stop energy to good business use and also learn how to manage money at the same time.

How To Be a Young Entrepreneur
In Two Steps

These 2 steps are really the basics for starting a family business. Here is the first big step in discovering how to be a young entrepreneur. We call this first step “Getting Your Feet Wet”.

Step 1: Depending on the ages of your children, give them some real responsibility in starting in starting a small business project. Go to this site to learn the basics – www.mindyourownbiz.org

At this site, you will be introduced to the 5 levels of business ownership and how to be a young entrepreneur. These 5 levels are Exploring, Deciding, Building, Connecting, and Succeeding.

The EXPLORING section involves looking at ideas for a business project and then going over a checklist. There are 20 questions to help you narrow things down and identify a specific niche for your business.

The DECISION part emphasized the need to write out the planning phase that is necessary to turn your business dream into a reality.

The BUILDING phase takes a look at how to organize your actions and develop a marketing plan. It wraps things up with arriving at realistic start-up costs and the legal aspects of running a business.

The CONNECTING and SUCCEEDING sections focus on acquiring the support and resources necessary to becoming successful entrepreneurs. The Small Business Administration and Junior Achievement are two groups that are identified.

They conclude with covering the value of business ethics and several how to be a young entrepreneur success stories.

Step 2: This second phase towards learning how to be a young entrepreneur is called “Diving In”. The goal of this step is to use the lessons your family has learned from Phase 1 and start a more realistic and long-term family business.

How To Be a Young Entrepreneur Encouragement

A major component for successful entrepreneurs is staying persistent until you see your dream take shape. Milton Hershey, the founder of Hershey Chocolate, failed at his first 3 attempts in the candy business.

Michael and Charleen

P.S. Learning HOW TO BE A YOUNG ENTREPRENEUR should be a fun family adventure. Don’t miss out on more Godly family celebrations at the link above.