While being a teenager comes with various challenges and learning curves, some teens have even more on their plates by running their own businesses. Juggling homework with running a business is what some teens have chosen for their lives.
Launching lucrative business ventures as a teen can be a great way of getting a head start in life.
According to The Guardian, there has been a marked increase in the number of young entrepreneurs starting up in recent years. Young entrepreneurs, such as teens will be more likely to try things that more seasoned workers dismiss. This gives them more opportunities to come up with innovative ideas.
One such entrepreneur is James Anderson.
Anderson, who is 18 years old, is the founder of Space Lounges, a collection of “next generation coffee lounges”.
“The biggest challenge for us is actually managing our tine. We don’t have all the pressures of things like a family but we have a lot of other pressures. I have no regrets at all [about starting the business]. You are never going to be fully ready and the best way to start is to get yourself out there. I have made a lot of mistakes and have learned from them,” says Anderson.
Many teen entrepreneurs are taking advantage of the latest technologies and their knowledge of social media to run their own businesses.
Living in the technological era has meant that there is a greater demand for skills in this industry.
Teen entrepreneur Brandon Iverson, 16, is an Atlanta native who launched his first venture at the age of 10 years old.
“It’s [Kids Toys Inc.] kind of like an online eBay for us, where we sold our old toys and games that we didn’t use anymore,” he says.
He, along with his 15 and 18 year-old partners are well on their way towards success.
Harvard lecturer Tony Wagner’s book “The Global Achievement Gap” finds that many students drop out of high school not because it’s too difficult, but because they are bored. With such factors influencing various societies worldwide, the number of teen entrepreneurs is likely to grow in coming years.