Teens, Start Your Own Business

Starting your own business might not be as hard as you think! You have major advantages over many adults starting a business.

Here's what you have going for you:

Confidence: Teenagers often are more willing to take risks than adults. You often focus on benefits instead of possible problems.

Financial support: Most teenagers don't have to pay their own living expenses. Your money can go toward starting your own business.

Emotional support: Family members or friends might help find customers, refer you to other people, and give ideas for improvements.

Publicity: Teenagers often are recognized more than adults would be for the same accomplishments. The publicity is free advertising!
Take these steps

• Make a list of your hobbies, talents, and skills.
  
• Decide which ones would be of value to someone else.
  
• Make a list of start-up tools and supplies, and their cost.
  
• Consider all start-up costs including legal fees and taxes.
  
• Determine a price for your goods or services by researching what other people charge.
  
• Get the word out: Post fliers around your town; ask family and friends to tell people about your new business.
  
• Budget your time to meet the demands of the customers and still get your homework done. If you don't, your business will be unsuccessful, and you could create a bad image and/or reputation for yourself.
  
  

When you run your own business you get better pay, choose your hours, and you never have to take orders from other people. And don't forget to see your credit union for help as you grow.

You have what it takes to be an entrepreneur, so get started!

Copyright 2008 Credit Union National Association Inc. Information subject to change without notice. For use with members of a single credit union. All other rights reserved.