The definition of an entrepreneur is continually evolving. What used to be considered a job for professionals with experience and age, is now a challenge that to take up by young and creative minds. Getting initiated with your entrepreneurship journey requires a few key ideas. Let’s go through some of these things!
First things first, we need an idea based on which we are going to develop our startup! As we discussed, no one has all the necessary skills from the get go. However, it is important to know the skills that you need and the roadmap to develop them. Keep in mind, that your work and your skill development may happen in parallel, meaning you learn as you are working towards building your company.
Another essential that everyone needs, entrepreneurs need more than others maybe is motivation, passion, and commitment.
Finding your Start-Up idea!
Every entrepreneurial journey is different. For some, the idea that they want to work on is obvious and easy to find. For others, it takes time to evaluate what/which area they want to work in. You know what? Both of these paths are correct!
We have seen so many examples of how a simple idea can grow into a start-up, it’s a matter of finding that idea and then working on it. There are different ways to come up with this idea. However, broadly classifying, we are going to talk about two such ideas.
i)Observe and identify
In our everyday lives, we encounter several events and situations that can raise certain issues/ flags in our minds. Observe what is happening around you and make note of situations/circumstances or tasks that may benefit from an upgradation. There is an organized way of doing this. Simply create a list of things that you feel may be improved or require a modification. In this list, also include possible solutions. See if an interesting possibility exists in those solutions and look in on that idea to see if you can develop it further.
“Need is the mother of all invention”
You may be the next inventor that is able to solve a challenging problem that a lot of people are dealing with.
ii)Follow your area of interest
Another way to search for an idea for your venture is to explore your own hobbies and interests. It is often said that if your profession is in an area that is from your hobbies, then you are bound to achieve a greater level of satisfaction from it. Automatically, our efficiency goes to its highest possible level. So what is it that you enjoy doing? Playing video games, participating in sports activities, creating products through creative processes like arts and crafts….or something else entirely.
Keep in mind that this is just the idea development part. Once we have the idea, we get to work on developing process and ways to bring that idea into reality, which is one of the greatest parts about this progression.
considering the existing time commitments.
There are several areas where teens can explore different ideas for start-ups. Few are suggested here that are quite prominent and are easier to set up and manage.
1. Blogger/ Opinion/ News Blog
Get started with a blogging startup as you share your interests, thoughts and ideas with others. This type of a startup requires basic writing skills. Now you can carry this out in different ways. A blogging start up may be a website that is dedicated primarily to your writings, or it can be a collaborative venture. That allows other budding and freelance writers to contribute and reduces your challenges (a little bit). You just have to make sure the collaboration stays on theme of your blog.
2. Ecommerce
Most of us have heard the term E-Commerce and it refers to selling of different goods…..basically an online store. As you think about setting up your E-Commerce startup, keep in mind the type of store you would like it to be. Honestly, it can be anything for which there is a demand.
It is a rewarding business that gives you the opportunity to connect consumers and sellers.
3. Freelance Content Writing/ Designing
Thinking of putting your existing skills as freelance writer to good use? Then you can become a freelance content writer and offer services to businesses, publications and direct to clients for creating customized content for their products (product descriptions), website content, press release articles, news articles, blog posts and so much more.
As a freelance writer, you would have options to connect with as many and few potential clients and maintain flexibility in your work. There are a number of online platforms that offer connection options for freelancers.
4. Online/ Offline Tutoring
Everyone is looking for people to help with the learning process. Use what skills and knowledge you have gained through your schooling and help others through tutoring business. Offering these services online, gives an opportunity to reach a bigger customer base.
Of course, to keep it manageable with your existing schedule, it may be best to start offline. This business allows you to charge by the hour or by subject!
5. Become a Social Media Influencer
Now here is a term which is very popular and in high demand. Becoming a social media influencer primarily requires you to understand how to effectively create and market a brand. The source of revenue for social media influencers is brand deals or sponsorships collaborations with different brands.
More and more social media platforms are encouraging influencer visibility. If you can generate a large following/ viewership in a specific sector/industry, specially if you have a passion for it, then SMI is a great start up idea for you.
6. Food Truck
I like to call this a fancier lemonade stand that also sells snacks that pair well with the lemonade. Jokes aside, a food truck lets you express your food creativity with basic cooking skills and lets you travel to different locations – schools, parties, community events and get togethers. You have the option to start out small – food cart or stand at local events and go from there!
You would have the freedom to partner up with an expert in the genre of food or get a team of peers together
7. Podcasting
What is Podcasting? A podcast is an audio program that is available for download. The popularity of podcasts in pretty much every topic is increasing everyday. The most successful podcases include latest topics along with enthusiastic/ engaging hosts.
If you are comfortable with holding discussions, interviewing people and public speaking, then podcasting may be a great option for you. Podcasting is a direct startup that allows you to bring the issues that matter to you most, to the forefront. For example, you want to talk about global warming, your podcast can do features with environmentalists, sustainability experts and so much more.
8. Start-up on Etsy
If you are a creator of customized handicrafts, unique goods, selling them on Etsy is a way to reach a large customer base. Setting up on Etsy is easy and it automatically takes care of setting up your payment options and catalogues of your beautiful creations.
9. Babysitting/ Housesitting/ Petsitting Business
A classic business idea in some countries. Depending on which country you are in, you may have to check up on rules and regulations to carry this business out. Mostly, this business is dependent on you trustworthiness and experience with children and pets. What do I mean by that? The owners/parents must trust you and be comfortable enough to allow you to take responsibility of the important things in their lives.
This start up again may be charged by the hour, the number of entities you are taking care of.
10. Showcase your Photography
Passion in photography can lead to a profitable startup idea. Not only does it let you showcase your creativity through photography, you can either directly sell prints of your photos or become a photographer for hire. Both options give you an opportunity to hone in your skills.
