The Teen Entrepreneur’s Guide to Launching a Business

by | Mar 11, 2022 | Entrepreneurship, Flexible Working | 0 comments

If you’re in high school, entrepreneurship is within your reach. You don’t have to put your business ideas on the back-burner until graduation. Today, there are more opportunities for teen entrepreneurs than ever before! And with services like VenturePoint providing a shared workspace, you don’t need your own office. Here’s why teens can learn a lot from pursuing entrepreneurship, and how you can get your own small business up and running.

 

The Benefits of Business Ownership

 

Why start your own business now instead of waiting until adulthood? Because teens can actually learn a lot from entrepreneurship that they might not learn in a classroom! Encouraging Moms at Home states that teenage entrepreneurs often become better at time management, communication, money management, and building valuable professional connections.

 

Ideas for Your Company

 

You know that you want to start a business – but what kind of company should you launch? It all depends on your skills and interests. For example, you could sell custom crafts, become a social media consultant, offer your services as a tutor, freelance writer, graphic designer, or photographer. If you love animals, you could become a dog walker or pet sitter! 

 

Form an LLC

 

As you brainstorm all of the details about your new company, don’t overlook the importance of choosing your own business structure. The way you form your business will affect how you pay your taxes, your personal liability status, and other key functions. You can form your own LLC as a teenager, so why not reap the benefits of this business structure when you set up your company? With Texas LLC status, you can enjoy limited liability and tax breaks! You don’t need to file by yourself or even use a lawyer – instead, you can turn to a budget-friendly online formation service.

 

Smart Management Strategies

 

How can you find your very first clients as a new business owner? You’ll want to network in person and leverage the power of the internet. First, set up your business website so that people can easily find you online. You can also register social media profiles for your business. 

 

Next, make it a point to start going to local networking events and conferences in person. Stride Learning states that even a casual acquaintance can point you in the direction of new business opportunities, so keep reaching out to people who can help with your business!

 

When it comes to financial management, you should also make it a point to save a certain percentage of the income from your business. You don’t want to spend every dollar as soon as you make it! In general, you’ll want to stay organized in regards to all of your business and financial paperwork, so you can use a planner or filing system to store your documents.

 

Book a Shared Workspace

 

If you work from home, you may be wondering what to do if you ever have a client who wants to meet with you in person. As a teen, renting a permanent office space is probably out of your reach. But this doesn’t mean that you have to hold any meetings online or at a coffee shop. Instead, you can book a coworking space! By booking a shared workspace, you can meet with clients in person even if you don’t have your own office. It’s a little bit like renting your own executive office!

 

You can cultivate a passion for entrepreneurship at any phase in life. As a teen, you can bring your creative outlook to the table as a business owner. With these tips, you’ll be prepared to kick off your journey as an entrepreneur!

 

Need a space for meetings? Turn to VenturePoint to book an office space! Fill out the contact form on our website to learn more. 

 

Photo via Pexels

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