Starting a business as a teen is easier than it used to be, and yet there are still many challenges that teens need to confront before they can start raking in the cash. If you are considering setting up your own small business around your education, here are some of the top challenges that you may face and how you can overcome them.
- Setting Up a Professional Website
Although anyone can set up a business within seconds, it is extremely difficult to create a professional-looking website without the aid of an expert. Setting up a professional website is important for every young entrepreneur. It can help build trust between you and your customers, appeal to your target audience’s interests, and ensure that potential customers can easily invest in your company. For most teens, their website will be the base of their business, and so you should consider employing an agency that specializes in the development of WordPress websites.
- A Lack of Finances
When you are a teen, although you might have some savings from a part-time job or leftover holiday and birthday money, a lack of funding can seriously impact your ability to set up a business. Setting up a business can be expensive, with supplies, marketing, and web hosting all costing money. However, you can get the money you need by fundraising through crowdfunding platforms, which can allow your target audience and other interested parties to fund your business for you.
- Balancing Business and Education
Establishing a good work/life balance has always been a problem, but teens have the additional struggle of having to balance their entrepreneurial endeavors with school or college. To do this, you should consider making a timetable where you can allot certain times of the day for school and business, as this will allow you to get everything done on time. However, you should also be aware of the risk of stress and take breaks when you can.
- Confidence and Criticism
As a teen, you might not know many people your age that are business people. This can affect your confidence. Not only this, but you might also receive criticism from your peers or adults who might not fully understand your venture. Additionally, some parents may not be supportive of your idea, thinking that you need to focus on school. If this is the case, you should take the time to talk through any worries that your loved ones may have and any steps you are taking to work around the issues they are concerned about.
- Lack of Business Knowledge
Having not been able to get out into the world of work or college for very long, you might not have the business knowledge you need, particularly in the wider business world. If this is the case, you should consider networking with professionals online on social media platforms like LinkedIn, taking online webinars, and looking at the class options that your school provides that could set you up for life.
Check out my guide on how to start your business right with tons of useful tips I learned by successfully starting, building, and selling multiple companies.