Courage, determination, invention, and motivation are required when starting a small business.Many teenagers have great ideas but don't know where to start when it comes to starting their own business.It is possible for any teenager to turn their ideas into a successful business with some time and research.
Step 1: Do chores into a service.
One of the simplest ways for teenagers to start a business is to turn assigned tasks around the house into a service that can be offered to other people.If your parents find value in you doing a particular task, others will do the same.Start a pet walking service.Many people can't come home during the day to let their pets out.By offering to walk their dog for a small fee, you will not only be providing a valuable service, but will also get exercise in the process.The houses are clean.If you're already a pro at keeping your room tidy, why not help others organize and clean their own houses?If you want to start small, you can offer to clean or organize one room.Do yard work.There is an opportunity to work outside every season.There are no shortage of outdoor tasks that you can do for a fee.
Step 2: Get creative.
It is possible to turn your skill in painting or sewing into a business that can reach others.Launching a successful online business is easy and accessible to anyone with a computer and internet.You can set up an account on an online site.It takes four months for listings to be active.There is a small commission fee and a standard payment processing fee.Take pictures of your work.Customers will want to see the quality of your work if you don't have a high resolution digital camera.
Step 3: You should name your business.
The name of your business will serve as a first impression to your customers.The name needs to convey the practicality of your products or services for your customers, signal your differentiation from competitors and embody the philosophy of the business.Brainstorm potential names for your product or service, remember that the more consumers know about your business, the less effort you have to make to explain it.If an existing business or product goes by the same name, be sure to research it.More than likely you will be able to find this information by doing a few, simple searches online, but just in case, you can always use a tool such as The Thomas Registrar, a particularly useful (and free) resource for finding unregistered trademarks.When they hear the name of your business, write it down on a piece of paper.If you have received feedback, change the name.
Step 4: Understand your market.
Find out who your competitors are and what you need from them.When doing your research, remember to be specific.Even if your product or service fills a unique gap in the market, there are always other companies offering something similar or other ways to satisfy the same customer's need.When thinking about your competition, it's important to learn what makes the customer choose one product or service over another, as well as the market as a whole.If you do a quick search for, "dog walkers near me," you can see what comes up.The results will give you a good idea of how popular the idea is.Once you have determined who your competitors are, don't be shy about reaching out to them, as they can be a valuable resource for gaining a better understanding as to what to expect and what the actual need is in the market.
Step 5: Determine your audience.
It's important to figure out who will benefit the most from your product or service.The faster your business grows, the better you understand your customer.Demographics such as age, gender, race, etc. will need to be considered when determining your target audience.The initial list of potential customers should include as much detail as possible.My customers will be local families with two incomes who own a dog and work long hours.When it comes to defining your audience, there is no need to include too much detail.Survey your target audience to find out if they would use your product or service.To determine the usefulness of your product, be sure to ask lots of questions.
Step 6: Financing is something to consider.
If you don't have the money to start your business from your savings, you will need someone to help you with financing.Before reaching out to a parent, guardian or another adult for help, be sure to have an outline of how much money you will need, how it will be spent and what your plan is for reimbursing any borrowed funds.A budget is a must for your business.Determine how much money you already have and what additional funds you will need based on your budget.Explain how you plan to make money.Give your business plan and budget to potential investors.
Step 7: There are necessary tools to acquire.
This can be anything from equipment to personnel.When it comes to staying on track with your budget, a less is more approach is often useful, but be sure to have the necessary tools in order to be successful.Make use of existing equipment when possible and purchase pre-owned equipment if applicable.Friends and family can help with temporary staffing solutions.If your business is successful, volunteers can be a great way to grow it.
Step 8: Sell your business.
It is important to spread the word about your business.The internet makes it easier to market your product or service.Start with a website for your business.There are many free and easy to use websites.Social media sites can be used to spread the word.It is a great way to spread the word quickly and easily.A business card contains important information about your business, such as your website and contact information.Get in touch with local businesses.If you can post a flyer with your information, other people in the community can contact you.
Step 9: Your product or service should be launched.
It took a long time to launch a new business, but you deserve to be celebrated.A launch party is a good place to introduce a new product.You can offer reduced rates for any services you provide.Talk to your neighbors.To reach out to the people next door is one of the easiest ways to start a business.Give your neighbors a list of your services and ask them to spread the word.Have fun!As a teenager, you started a business.Take pride in what you have created and enjoy the moment.
Step 10: A business plan is needed.
If you want to take your business to the next level, you need a plan in place.A business plan is a written description of your business's future, a document that tells what you plan to do and how you will do it.A business plan will help you stay focused and it will also serve as a valuable tool for growing your business.Information about your target audience and market can be gathered from the research phase.There are online resources for how to write a business plan.
Step 11: You should register your business.
You may be required to register your business if it continues to grow and become more than just a hobby.To run your business legally, you will need federal and state licenses and permits.If your business does need to be registered, you should seek the help of a parent, legal guardian or trusted adult.Before you register your business with state agencies, you need to determine if you fit into one of the following categories.
Step 12: You can choose a business location.
Businesses can be run from anywhere.Some businesses can be run successfully from out of the home, while others need a physical location in order to run smoothly.Keep in mind your finances as you consider what will work best for your business.Pick a location that is close to your target audience if a physical location is necessary.When getting your business off the ground, you may want to use a space that is free or low in cost.Consider sharing a room.Small business owners pool their resources and support each other through retail space sharing.