Entrepreneurship
How to Start Your Own Business

Our "how to start your own business program" helps kids prepare for business. There is lots of information throughout this program that will help you realize that there is a lot to business. If you take the time to think and prepare properly for business, you will have a much greater chance of actually getting started and succeeding. There are many resources on how to start your own business, but we have developed this program as a kid-friendly approach for kids in grade k-12. Good luck and enjoy your business experiences!

 

Kid's Overview

 

As a kid, there are lots of business opportunities and lots of things to consider to give yourself the best chance of getting started and succeeding in business.

 

Take a look at our [lemonade stand program] to get insight into the many things to think about for a very simple business. This is expanded on in our book The Kids Guide to Business.

 

Examine our [Jobs For Kids Program™] for a e-book selling business opportunity - starting your own small business and developing as an entrepreneur.

 

Summary of This Section:

 

What is your own business?

What is business all about?

Play around with some business ideas before you start your own business!

Gain experience from jobs that will help you start your own business.

Practice and develop your skills.

Be prepared to make mistakes and have failures along the way.

What are your goals of going into business?

What is a good business fit for you?

Examine businesses and think about businesses that you are exposed to.

Try some business ideas.

What business opportunities are in your area?

Join or create a business club

Prepare a business plan!

You will need money to start your business

[Start your own business!]

Inspiration and support to help you in business.

 

What is your own business?

 

Let's be clear that your own business is working for yourself or possibly with partners. You and your partners are the ones who are responsible for developing the business and operating it. Whenever you have your own business you are working for yourself.

 

What is business all about? This may seem like a very basic question, but it is one that you need to consider. If you are clear on what business is all about, then you will be able to prepare yourself for the many steps you need to take to start a business. Even if you think you know what business is all about, there is still lots to learn. Businesses change as products, technology, regulations, consumer tastes, competition and many other factors change.

 

Check out the following programs for ideas on how to better understand business;

[Kids' introduction to business]

[Kids Business Basics Program]

[Lemonade Stand Program]

[Jobs for Kids Program]

[Business cases]

[Entrepreneurship Program]

 

Now that you have a good understanding of the many things to think about in business, you are ready to start thinking about your business.

 

Play around with some business ideas before you start your own business!

 

Most kids do not know what business to try or when the best time to get started is. A little advice is, that many successful business people have tried a number of businesses, before they found the right one for them. You should get started as soon as possible. Starting the process of starting your own business is a big step to take. Once you start thinking about starting a business, you are well on your way. A good way for kids to "try a business" is to think it through by dreaming about it and doodling around on paper.

 

Dream about business and your future

 

Dreaming is a healthy business exercise to go through. Kids are often great dreamers. It doesn't cost you money to dream about a business and you are more likely to succeed in your dreams then in reality.

 

Our entrepreneurship program discusses the ideas of developing dreams and visions. Our [Dream about your future] section helps you develop and understand your dreams. Take the time to dream and try and understand why you are dreaming the way you are. Take notes about the things you remember in your dreams and dream in your spare time, before you sleep and while you sleep. Dream of yourself in many situations and figure out how you would deal with issues and opportunities.

 

Play some business games

 

Games are a good way to have some fun, try something new, gain experience & confidence and develop some skills. We have created [The Just For Clicks Business Game] to help kids play around with starting a business - creating an idea and testing it on other people.

 

Doodle around on paper with business ideas. Doodling is a great way to develop ideas.

Check out our ["Doodle Away To Ideas" ] to help you get started with doodling techniques. You will be surprised at how easily you can draw/sketch out ideas on paper or on your computer.

 

Think

 

Take the time to review this program and most importantly, spend some time thinking about going into business. Thinking is a great skill to have as you consider business! There are many ways to think about issues and opportunities to arrive a good decision.

Check out our ["Thinking Section"]

 

Gain experience from jobs that will help you start your own business.

 

Experience is a great asset to have when you consider starting a business. You will often discover that your job experiences will help you understand different businesses and help you develop skills for business. You can also consider volunteering and job experience as a way to get some training to prepare you for what you really want to do. There are many jobs you can do at home to gain non-paid work experience and learn about responsibility.

We have created some opportunities for kids to gain experience in our [business encounters] section.

Our [Jobs for Kids Program] was crated to provide valuable work experience and launch kids in business.

 

Practice and develop your skills.

 

How well would you play a sport if you didn't know how to play the game or if you hadn't practiced and developed the necessary skills? Business is similar to sports in that you need basic skills to do well. We know that good athletes spend a lot of time practicing skills, and learning to understand how to play the game better (rules, strategy and plays). The approach we take to sports can be applied to business.

Explore our [resource center] to help you develop life skills you will use in business.

 

Consider having a [coach] to help you out.

 

Our books are good resource to help you practice and prepare for the development of a business.

 

Our [Lemonade Stand Business Program] is a great way to think of ways to plan a business.

 

Be prepared to make mistakes and have failures along the way.

 

Please recognize that you will make mistakes in business and more than likely have some failures along the way. The key to remember is that mistakes and failures are a good thing if you learn from them. All of your successes and failures will help you in your next business venture.

 

"Failure is success if we learn from it." by Malcolm Forbes

 

Do not allow your concerns of failure to stop you from trying.

 

"You miss 100 percent of the shots you never take." - Wayne Gretzky

 

If you take the time and consider how to properly get started in business and do the proper planning, you can minimize your failures.

 

"A smart businessperson is one who makes a mistake, learns from it, and never makes it again. A wise businessperson is one who finds a smart business person and learns from him how to avoid the mistakes he made." - Jim Abrams

 

Consider talking with people about business and learning from other people or [business cases]. If you can learn from other people’s mistakes, you will give yourself a better chance of succeeding.

 

Take a look at our [Anecdotes] section for some good advice from successful people.

 

What are your goals of going into business?

 

To do anything well in life, it is important to set goals. If you have goals in mind, you will have given yourself a chance to make accomplishments.

 

Here are some examples of goals you may consider:

 

Develop life skills to prepare for business,

Gaining experience ,

Resume development,

To succeed in your own business,

To work for yourself,

Earn money ,

Personal development ,

Something to do,

Learn responsibility,

Develop character,

Gain self-confidence,

Satisfy a parent’s demands or desires,

Career development,

 

Determine other goals that apply to you.

 

Depending on the goals you choose, you will approach business in different ways and get different things out of your experiences. Talk to people about what their reasons were for going into business.

 

Check out some [e-mentor profiles] on how people approach their businesses and career development.

 

What is a good business fit for you?

 

Since you are the one that has to make the business succeed, you will need to have the necessary skills and an interest to do the work well. Take a look at ["What's your Business Thing"] in our resource center to help you understand a good fit for you.

 

Examine businesses and think about businesses that you are exposed to.

 

Once you start looking at different businesses, you will be surprised how much you will learn. This is like watching a sports game and learning how to do something from watching someone else do it. You are exposed to business every time you venture outside (walking to school, driving somewhere) or on TV, radio, the internet, magazines and around your home. Everything that exists and services provided all come from a business. As you observe businesses, ask yourself questions like;

 

What is this business about?

What do you have to do well to succeed in his particular business?

How would I do it differently?

What issues are facing this business?

Could I do it well?

Is there something this business should be doing - is there an opportunity I could pursue?

 

Try some business ideas. Test your ideas and try to test business ideas. (Think it through - discuss it with family and friends)

 

Try a business club to test ideas with other people.

 

What business opportunities are in your area?

 

Do some research on businesses operating in your area?

 

There is nothing worse than coming up with what you think is the greatest business opportunity and then finding out that many other people have thought about it and have actually started the business. Check the phone book, physically look around, do internet searches and talk to people in the area. All of these are good research techniques.

 

Brainstorm for opportunities.

 

Join or create a business club.

 

A business club will be a good way to get you involved in business, give you valuable business experience and develop team skills which are essential in business. Check out our ["Business Club"].

 

Prepare a business plan!

 

This is the least favorite part for most entrepreneurs, especially kids. It is kind of like studying for a test in that your chances of doing well on the test are directly related to the amount of and quality of studying you do. As you go through the planning process, you should recognize that you will need some help and advice. Please consider asking people to advise you on your business. Ideally you want people with different experience and expertise. Give some thought to setting up an advisory board.

 

Check out our [business plan] section.

 

You will need money to start your business

 

Raising the money is the most difficult part of starting your own business. There are thousands of great business ideas that don't get started because they don't have enough money to do what they need to do to get started properly.

 

Take a look at our [Seed Capital Program] to help you understand financing a business. Do an internet search on "venture capital" and review some of these companies to understand what is involved in obtaining other people’s money to start your own business.

 

Look at bank web sites to see what young entrepreneur programs they have.

 

Explore crowdfunding to create a funding campaign to engage others to help fund your business or sell product.

 

Many governments have programs to help kids get started in business.

 

Start your own business!

 

Congratulations, if you have gone through all of the steps above, you are well on your way to starting a successful business. By going through this exercise you have delayed your start but you will be better prepared to succeed in your business. Hopefully, you now realize that starting your own business involves a lot of steps. Please don't get bogged down with the planning of a business so that you never take advantage of a business opportunity. Many entrepreneurs will tell you that timing of the business is an important component of succeeding. Often the first to get started in business gains a competitive advantage. You will learn to balance the planning process and the ability to react to business opportunities. Throughout this program you have been exposed to links for additional information and to get you started.

 

Check out our web site links in our [resource center] for additional information. For example, the United States Small Business Associate will give you many additional tips on getting started in business at www.sba.gov Inspiration and support to help you in business. You will learn a lot about yourself as you venture into business. Be honest with yourself and realize your limitations and when you need other peoples help. Believe in yourself. No matter what happens in your business consider your experience as an investment in yourself. Set realistic goals and don't fall into the trap of thinking that you are only successful if you make a lot of money.

 

If you start a business, you have succeeded in many ways. Each step you take in business should be considered to be an additional success. Please be careful of the scams that try and sell you on how easy it is to start your own business and make lots of money. Remind yourself often, "Hey I'm in my own business which is only a dream for many people".

 

Good luck, think, plan, work hard and have a great experience!

 

Jeff M. Brown TeachingKidsBusiness.com

 

"Kids should consider a business venture as a smart investment in themselves." - Jeff M. Brown