Steps to becoming a Teen Entrepreneur

As you venture into becoming an entrepreneur and entrepreneurship, you need to focus on three very important steps to success. 1. Make sure to set goals before you get started. 2. Write down your business idea and create a business plan. 3. Understand how money flows by understanding a profit and loss statement and other relevant business documents.

Before we get started however let’s look at how Wikipedia defines entrepreneurship and entrepreneur. Entrepreneurship is the process of starting a business or other organization. The entrepreneur develops a business model, acquires the human and other required resources, and is fully responsible for its success or failure.

Let’s proceed. Why is goal setting so important? It allows you to determine why you want to do what you want to do. Why do you want to be an entrepreneur?  It’s the motivating factor. It’s what will get you moving forward when times get tough and they will. Nothing good ever comes without some hard work.  Take time to quietly think about why you want to do what you want to do before you consider the how. Is it to pay for college? Is it to help your family out? Is it to make a difference in the world? Is it to help a particular group of people? What is your burning desire? Vision provides clarity.

Now that you understand why you want to start a business, let’s look at how you will accomplish your goal. Again take time to quietly consider ways in which you might be able to accomplish your goal. Write down all your ideas. Evaluate the ideas. Do research via the internet, books, speaking with others etc. Then again take time to review your research and determine the best way to meet your goal and then put together a business plan with your vision, mission, business and marketing plan. Great organization leads to success.

Understand how money flows into your business and out of your business. Understanding this important part of business will help you determine a price for your product or service that allows you to grow your business and make money for you personally.  Many people do not learn this important step in starting a business and then wonder why at the end of the month, there is no money to pay themselves. Everything they made went into running the business. If you do not have profits, you cannot pay yourself.

These are just three steps in becoming an entrepreneur. Many more steps will be shared with you to help you grow yourself and your business.

To your success.

Michael’s MoM

3 LEADERSHIP SKILLS FOR TEEN SUCCESS

What is leadership? What is a leader? What does it mean to lead? Does a teenager need to develop leadership skills?

Leadership is a trait that everyone should aspire to have. No matter what we do, we all need to learn how to be a leader and how to lead others. Teenagers are no exception.

According to David McClelland, “leadership takes a strong personality with a well-developed positive ego. To lead, self confidence and high self-esteem are useful, perhaps even essential.”  Developing a Positive Attitude is useful and our first leadership skill. You can begin to take action to improving your attitude with very simple steps. Read positive books, listen to positive audio, watch positive videos and invest in training courses that help you with personal development which will lead to a positive attitude and improving your leadership skills.

A leader is a person who leads or commands a group. The buck stops with them. John Maxwell states “If you won’t carry the ball, you can’t lead the team.”  That’s a very powerful statement and leads us to our second leadership skill, Personal Responsibility. Be the kind of person who embraces a victor mentality instead of a victim mentality. As a teen it is important to recognize that who you are and where you are is a result of how responsible you feel for your life.  It is not the responsibility of your parents, siblings, guardians, teachers, counselors, etc. You are the driver of your destiny.

Leading is no easy task. You must be Committed, our third leadership skill, to doing what needs to be done to develop your skills so that you can move from dreaming about success to implementing steps to success. Stephen Gregg states “People do not follow uncommitted leaders. Commitment can be displayed in a full range of matters to include the work hours you choose to maintain, how you work to improve your abilities, or what you do for your fellow workers at personal sacrifice.” The same can be said of leading a school club, sports team or church group.

So why is being a leader, leading and improving your leadership skills important for teens. No matter what you do in life, you will need these skills. Begin now to learn them, sharpen them and share them with others.  A teen can practice these skills by volunteering or working at Boys & Girls Clubs, recreation centers, church youth groups, summer camps, coach a sports team, etc.

So what are you waiting for? Get started NOW!