Teenage Entrepreneurs - It's Possible to Make Millions Before 20!
Success strategies teenage entrepreneurs leverage to make mountains of money
The Internet is a Gold Mine
Thanks to the internet, and the fact that teenage entrepreneurs today grow up with technology at their fingertips. In 2019, more teenage business owners, marketers, and investors exist now than ever. While those that have decades of experience under their belts are certainly able to compete, teenage entrepreneurs give them a run for their money.
Below we highlight five different tips and tricks you want to make the most of. Since all of your competitors are always going to be no more than just a click or two away you need to be extra smart and strategic with the moves you make – and this advice will certainly help you do exactly that - Let’s dive right in.
Lean On Technology
This video on YouTube is a great example of the variety of ways teenage entrepreneurs make money.
As we highlighted above, teenage entrepreneurs are incredibly comfortable with technology in a way that most other people just aren’t.
Teenagers today grow up with the internet in a refined state compared to the early 2000s. Many of them have almost been raised on the internet – especially since most have had smart phones and internet-enabled devices in their hands ever since they were children. This tech savvy approach to life gives them a significant competitive advantage over older entrepreneurs.
Don't Be Afraid to Break Things
Teenage entrepreneurs are not afraid to try new things, to experiment with new approaches, and to quite literally "fail."
Some of the most disruptive technologies in the world grew into the biggest businesses in the world today. In fact, many of them are led by teenagers. Mark Zuckerberg was a teenager when he developed Facebook, maybe the most influential websites and web platform on the planet right now. It made him a billionaire and one of the wealthiest people on the planet.
You’re going to want to cultivate this same kind of approach.
Don’t be satisfied with the status quo, don’t settle for “this is the way things are done."
Run contrary to the grain, fight back against the current, and break things into tiny little pieces. You might create the next big product or service!
Trust Your Gut
Teenage entrepreneurs need to rely on their “gut instinct” more than seasoned veterans of the business world.
This kind of instinctual movement gives them an amazing advantage against slow and established “giants” in most any industry. Move quickly, be decisive and trust your gut instincts.
We’re not suggesting that you should entirely abandon metrics, data, and analytics. The ability to measure pretty much anything and everything in the world of business today is a huge advantage. We are suggesting that you turn off that analytical mind that certain points in time and go with your gut instinct. If you are tuned into your market, tuned into your perfect customer which yields results.
Get Something out the Door and Then Refine from There
The idea of a Minimally Viable Product (MVP) wasn’t cooked up by teenage entrepreneurs. Today's generation embrace it stronger than previous generations however.
The concept is to build something – anything – that delivers the kinds of results you are looking to produce. Your customers matter. You then take into account the feedback you generate with this approach, rapidly iterating and rebuilding your product along the way.
Continue to refine your solution according to what your market tells you. You'll save time and money. Avoid the crippling mistakes many businesses make.
Use the concept of an MVP to totally transform the way you build your business and you’ll be able to see some staggering results a lot faster than you ever thought possible.
Because they don’t know everything there is to know about their business, their industry, or their marketplace most teenage entrepreneurs are simply looking to test anything and everything they can – doing whatever is necessary to get themselves into business so that they can figure things out from there.
These young entrepreneurs understand that you aren’t in business until you actually have a business, or selling something, and are moving merchandise or services that people have paid you cold, hard cash for.
Entrepreneur vs. The Wantrepreneur
There are way too many Wantrepreneur's out there that never get off of the sidelines, fancying themselves "business people" without any business to speak of. Do not be one of these people. Put your ideas into action. Procrastination is the thief of time. You must act. Act on inspired ideas.
Younger businesspeople dive in with both first, right into the deep end of things, testing and measuring their progress along the way while adjusting course. This is the same approach that airline pilots take and it’s something that all entrepreneurs of every age and experience level could learn from.
Airline pilots know where they are going to take off in they know where they want to land.
The Course of Life
There’s no such thing as a straight line course without diversions in the real world, which is why pilots are constantly measuring their progress, tracking their route, and adjusting to things like turbulence, weather patterns, air traffic, and more to get where they want to go. The same is true in life.
Life has a way of delivering to us what we demand and refuse to quit on. Sometimes as a teenager life throws us a curve ball. There's boys, girls, relationships, parents, society etc. But at the end of the day, follow your heart, trust your gut instincts and most important, be true to yourself. If it feels right. Do it.
Leverage this kind of approach to entrepreneurship and you’ll be able to enjoy a whole lot more success in the world of business today then you would have been able to before. You’ll learn what works, what doesn’t, and will be able to test and tweak different offers, different opportunities, and different approaches until you get the kinds of results you are after.
Make the most of all the tips and tricks we highlighted above and you’ll be able to hit the ground running in the world of business with a lot more success than you would have been able to generate before.