When Do We Become an Entrepreneur
Being afraid to start a business is nothing new to anyone. Believe it or not, it shouldn’t be a fear that anyone should have. To explain why this thought process seems to hold true for just about everyone, you will need to think back to your childhood. Did you ever trade for anything you wanted in school or something that you knew you could use to gain an advantage with your friends? For me, we traded erasers in school.
I always wanted the Star Wars ships. However, these erasers were randomly handed out by our teacher. We did not control what we received. Many times, I found myself with the fruit scented erasers. The girls found themselves with the sports and movie erasers. I quickly networked with the other kids in class and figured out who wanted what so I could map out how to get myself an X-Wing eraser or a Deathstar eraser. Often, it was as simple as trading with the person who wanted the fruit eraser. Other times, I needed to make several trades to get the eraser I wanted.
I understand that this isn’t entrepreneurship directly. It is, however, a part of the foundation of becoming an entrepreneur. Networking and negotiating with others to achieve an end goal is part of the learning curve to becoming a full fledge entrepreneur. The reason that it didn’t make me an entrepreneur was that I wasn’t providing a tangible asset that could be reused by others (I’m selfish that way) on a consistent basis. You see I would only negotiate to my benefit, not to the benefit of others, to get the eraser I wanted. Then I was done.
As I grew up, learning to network and building those negotiating skills at a young age did eventually lead me to become an entrepreneur. How? Once I became a little older, i was able to sell my services on a reusable level. For example, I delivered newspapers in the morning day after day for an income. The newspaper didn’t tell me how or when I needed to deliver the papers, just that I needed to complete my task by a certain time. They would give me more or less deliveries based on my skill level. I was basically an independent contractor, working for myself. I managed my time, deciding when, where, how I worked, and how much I would earn from my work. This was not unique as I was growing up, because households received much of their news from newspapers. As I grew older, this job went away with the advancements of technology.
Fortunately, the advancements opened up new opportunities for young people to become entrepreneurs. Many of these opportunities, I am sure, you took advantage of doing yourself at a younger age. Opportunities such as babysitting, mowing lawns/shoveling snow, pet care services, tutoring, house sitting, cleaning or organizing things are just some of the tasks young entrepreneurs offer today. In fact, we have compiled a list of entrepreneurial activities that are common today, determined their level of difficulty to learn and the opportunity for growth and exponential returns.
Pet Care Services – This side hustle involves tasks such as pet walking, pet sitting, and feeding animals, which can be done by responsible teenagers who have experience with pets. The learning curve for this side hustle is relatively low, as long as the teenager has experience with animals and is responsible. Pitfalls to be aware of include potential liability issues if the pet is injured or lost, and difficulty finding clients. Word of mouth advertising is an excellent source for finding new clients.
Babysitting – Responsible teenagers can offer babysitting services to their neighbors or family members. The learning curve for this side hustle is relatively low, as long as the teenager has experience with children and is responsible. Pitfalls to be aware of include potential liability issues if the child is injured or lost, and difficulty finding clients. To increase opportunities within this side hustle, can advertise their services to their friends and family, or sign up with online service providers that offer vetting services and additional opportunities.
Tutoring – Teenagers with strong academic skills can offer tutoring services to their peers or younger students. The learning curve for this side hustle is moderate, as the teenager must have a strong grasp of the subject matter and be able to effectively communicate it to others. Pitfalls to be aware of include difficulty finding clients and competition from professional tutoring services. To increase opportunities within this side hustle, teenagers can advertise their services to their classmates or on social media and offer reasonable rates.
Home Cleaning and Organization – Minors can potentially offer home cleaning and organization services to their neighbors or family members. The learning curve for this side hustle is relatively low, as long as the person is responsible and has experience with cleaning and organization. Pitfalls to be aware of include potential liability issues if something in the home is damaged or lost, and difficulty finding clients. This opportunity is perfect for people that have OCD (obsessive compulsive disorder).
House Sitting – Similar to pet care services, minors can potentially offer house sitting services to their neighbors or family members. The learning curve for this side hustle is relatively low, as long as the person is responsible and has experience with home security. Pitfalls to be aware of include potential liability issues if something in the home is damaged or lost, and difficulty finding clients. To increase opportunities within this side hustle, people can advertise their services to their friends and family, or on social media with parents’ permission, and offer reasonable rates to strangers.
Lawn Care and Snow Removal – Minors can potentially offer lawn care and snow removal services to their neighbors or family members. My mother offered my services up to the old couple down the street when I was a teen (for free). The learning curve for this side hustle is relatively low, as long as the teenager is responsible and has experience with lawn care and snow removal. Pitfalls to be aware of include potential liability issues if someone is injured on the property, and difficulty finding clients. if you need more clients just ask my mother.
Influencer – Influencer marketing has a high potential for income generation, as successful influencers can earn significant sums of money through brand collaborations, sponsorships, and affiliate marketing. The learning curve can be moderate, as it requires building a following, creating engaging content, and building relationships with brands. However, the cost of barriers for entry is low, as it can be started with just a smartphone, an internet connection, and some creativity which is easily found in the younger generation.
Content Creation – Content creation has the potential to generate moderate income through ad revenue, sponsored content, and merchandise sales. The learning curve can be moderate, as it requires developing skills in creating engaging content, building an audience, and understanding the platforms’ algorithms. The cost of barriers for entry is also moderate, as it requires some investment in equipment such as cameras, microphones, and editing software. This can be done easily with supplies provided in school or by parents.
Professional Gamer – Professional gaming can generate some income through esports tournaments, live streaming, and sponsorships. However, it has a relatively low potential for income generation compared to the other two areas. The learning curve can be high, as it requires developing gaming skills, understanding the game mechanics, and building a following. The cost of barriers for entry is also high, as it requires investing in gaming equipment, such as high-performance gaming computers and peripherals.
There are several side hustles that young people can pursue in order to earn some extra money and develop important life skills. These side hustles can lead to lifelong desires to be entrepreneurs. By pursuing these side hustles at an early age, minors can gain valuable experience in entrepreneurship, develop important skills like responsibility, networking, negotiating, and communication. Along the way they earn some extra cash to help them achieve their goals from working. What most people don’t realize is that they have also learned to not be afraid of working for themselves at a young age. They just forget education.