Do you want to be financially independent & cash flushed as a teen? If YES, here are 20 ideas & tips on how to start an online business from home as a teenager.
In recent time, a good number of teenagers have begun to dominate the internet and make loads of money from it. As a matter of fact, teenagers are beginning to establish their presence when it comes to programming and apps development. If you take time to go through top game developers, you will realize that teenagers represent a good percentage of them.
Why Start a Business as a Teenager?
The fact that you are a teen that is still in college or a teen that just left high school is not an excuse not to start making money from online businesses. Even if you are still under your parent’s roof, you can still start an online business that can grow from your parent garage into a multinational company with clients and shareholders from all across the globe.
One good thing about this dispensation is that there are a lot of examples we can learn from when it comes to leveraging on the internet to launch a business. The fact that you have internet enabled devices means that you don’t have any excuse not to start an online business from home as a teenager.
Starting a business is one of the surest ways of attaining financial freedom especially if your business has the capacity to transcend trends and seasons. Of course there are businesses that are seasonal and there are businesses that cut across all seasons. For example, if you are into the sale of winter clothes and shoes, umbrella and even Christmas decorations et al, then you must be willing to wait annually to make money from your business.
As a teenager, if you are serious about starting an online business from home, then you will find these to tips very useful;
20 Tips for Starting an Online Business at Home as a Teenager
- Carry Out Research
The first step you need to take when it comes to starting an online business as a teenager is to research. Good enough, there is hardly any topic or subject that you can’t get research materials on from the internet. The internet has made it easier for us to carry out research on any subject from the comfort of our homes. When you research on any online business that is of interest to you, you will sure see how profitable the business is and what you need to put in place to get the business going.
- Form a Team
There is a saying that goes thus ‘two good heads are better than one’. In essence if you desire to start something worthwhile, then you should ensure that you form a team with people of like – minds, people who have what it takes to start and run a business.
So, as a teenager, part of what you need to do if you truly want to start a thriving online business is to form a team with people who can be of help to you; people that know what you don’t know and have what you don’t have. If you take your time to study teens that made impact online, you will realize that they didn’t do it alone, they partnered with other like-minds.
- Model an Existing Successful Online Business
Another tip that can help you start an online business from home as a teenager is to model an existing successful online business. Modeling an existing successful online business means using a successful online business as a template to building your own business.
For example, Facebook is a successful online business, and you can actually start a similar social networking media platform but with little difference. If you are interested in starting one, then you can go ahead to launch yours. Please note that it will take hard work and determination to build a social media networking platform that can truly pose a threat to Facebook and the likes.
- Learn from a Mentor
There are people out there who have achieved what you intend to achieve and they may be willing to mentor and coach you to achieve yours. So, part of what you need to do as a teenager who intends starting an online business from home is to learn from a mentor.
Good enough, you do not just need a mentor that you can meet with physically before you can learn from them, the internet has made it possible to learn from a mentor that is thousands of kilometers away from you. If you intend launching an online store, then look for a mentor who is currently running a successful online store and if you intend launching an online game site, then it will be wise to look for a mentor who is successfully running an online game site.
- Attend Business Booth Camp for Teenagers
Another important tip that will help you start an online business from home as a teenager is to attend business booth camp organized for teens. Please note that not all booth camps will teach how to start an online business. So, what is expected of you is to specifically look for booth camps that will train you on how to start an online business.
The truth is that most organizers of booth camps for teenagers are aware that part of what pulls teens together revolves around the internet and social media hence the need to create a topic that deals with the internet and perhaps how to make money online.
- Read Business Books
As a teenager, you are not too young to start reading business books if indeed you want to launch a business. As a matter of fact, you cannot successfully start and manage any business if you don’t read business books. So, part of the tips you need in order to successfully launch an online business from home as a teenager is to read business books.
When you read, you will be exposed to the ins and outs of starting and running a business, you will be able to write your own workable business and marketing plans and go all out to execute such plans. Above all, you will be able confidently step out to raise the needed startup capital to launch you online business.
In as much as online businesses are profitable to start, it is possible to start this type of business and struggle to make profits if due diligence was not carried out before launching the business. So, what you need to do before launching your own online business is to carry out a feasibility study cum market survey. The truth is that if you set up an online business in a location where people hardly do business online, you are likely going to struggle to make headway in the business.
Another important tip that you need when it comes to starting an online business as a teenager is to join the right network. With the right network, you will sure get guidance and support when you start your business. As a matter of fact, when you launch an online business from home as a teenager, people in your network will most likely become your first clients.
- Test Run Your Online Business Idea
Many people have gotten their hands burnt while trying to launch a new business. The truth is that if you are not sure of your online business idea, the best thing to do is to test run the idea to see how the business will fare. If the business meets your target or expectation within the testing period, then you can go ahead to invest your resources but if not, then re-strategize and re-launch or change the business idea.
- Work as an Intern with an Online Business
Another important tip that you need to follow when it comes to starting an online business from home as a teenager is to work as an intern with an online business. The truth is that you stand to gain a lot when you work as an intern with an online business.
For example, if you want to start an online store, then the wise thing to do is to look for an online store to work with as an intern. If you want to start a social networking site, then look for a social networking site to work as an intern.
- Understudy a Successful Online Business of Your Choice
There are several online businesses that a teenager can understudy in order to learn how to launch theirs. The fact that you have internet access on your device means that you can understudy any online business of your choice. Understudying an online business will help avoid some mistakes that you may likely make when launching your own online business from home as a teenager. It will expose you to the ins and outs of running an online business. You will be able to know how profitable the business is before you get started.
- Be Specific on The Type of Online Business You Want Start
Another tip on how to start an online business from home as a teenager is that you would need to be specific on the type of online business you want to start. The truth is that as a teenager, you can be undecided with a lot of things and if you must start an online business from the arrays of possible online businesses to choose from, then you must be specific.
For example, you may choose to become a software developer, or a web designer or a digital marketer or content creator. The bottom line is that you need to narrow your online business idea to a niche if indeed you want to start on a strong footing.
- Learn the Needed Skills
As a teenager who desires to start an online business from home, part of what you need to do to achieve your ambition is to learn the needed skill sets. If you have been able to narrow down on the niche idea you want to work on, the next step is to learn the skill that will help you in the business.
For example, if you want to start an online game business, it will be wise to go all out to learn software apps developing. So also, if you want to start a business that helps people and organizations to design their website, then it is logical for you to learn website designing.
- Participate in a Business Reality Show
There are loads of business reality shows that are open for teenagers, participating in such program will help you present your business idea to the review of experts. The truth is that if your business idea can successfully scale through the screening of business gurus, then you are certain that the business will likely succeed. So, if you want to start an online business from home as a teenager, then you should look for a business reality show to showcase your business idea.
- Take Free Online Courses
Another tip that will help you start your business from home as teenager is to take free online courses that relates to the type of business you want to start. For example, if you want to start a content generation business, then you need to source for free online courses that will teach you all you need to be successful in the business. If you join freelance.com, you will come across free online courses that will help you become a better writer, editor or any other specific skills may need for your business.
- Join Social Media Platforms
Even if your online business idea has something to do with social media or not, one of the tips that will help you start your business is to join relevant social media platforms that will help you project your online business. For example, if you run an online store, your major marketing platform is social media networking sites. Through twitter, Instagram and Facebook, you will be able to generate over 70 percent of your total sale or traffic.
- Write Your Business Plan
If you have successfully done all that is listed above, then the next step to follow is to write a good business plan; a detailed blue print of how you intend raising your seed capital, setting up the business, managing the flow of the business, sorting out tax and marketing your products or services amongst others.
- Raise Your Startup Capital
Averagely, starting an online business is not capital intensive, but as a teenager, you might not have the money to purchase a computer, subscribe to the internet or launch and host a website or blog and as such you must make plans to raise your startup capital.
If you have a good business plan, it will make it easier for you to raise your seed capital from your friends and family members. So, ensure that you explore all available means to raise capital to start your online business. It can be challenging though, but keep at it until you get the amount required to successfully setup your online business.
- Incorporate Your Company and Obtain the Required License and Permit
No doubt you are not expected to operate a standard online business without registering the business with the government of your country. There are certain benefits you can access if you run an online business without registering the business.
So, it is important to approach the corporate affairs department of your country to incorporate your online business. You can engage the service of an attorney to help you with the process. Once you are done with incorporating your company, you can then apply for both federal and state license and permit.
- Market and Promote Your Product or Services
Once you have a product or services online, it is your responsibility to market and promote the product or services. The truth is that there are competitions when it comes to selling products or services online; everybody is trying to be ahead of their competitors, that is why you must develop a good marketing strategy to gain your own fair share of the existing market. Ensure that you leverage on social media networking platforms to promote and market your products or services.