Question by Sujeet: Best Home based business a 15 year old can setup in just 100 bucks? and how?
I am 15 and I have got around 100 bucks in my PayPal (verified) .
Can you suggest some business I can start with, any good home based business?
Also, it would be better if you explain how ?
Answer by rayt721
Building a successful business venture is going to actually take more time than money. Almost any business can be started out at home (except for retail sales) and by young people (except selling alcohol, tobacco and firearms, for example). So many people think that 18 or 21 is the magical number of age to build a business but the reality is that there are plenty of teens and tweens that have started businesses which began as finding a need and filling it with worthwhile products and/or services.
Before you just leap into business, you should do some homework on some of the many aspects of business such as accounting, marketing, website creation, business planning, etc. so if you’re expecting an overnight profitable business, you are sadly disillusioned. I would suggest a trip to the library for books like “Fast Cash for Kids” by Bonnie & Noel Drew and also “The Richest Kids in America” by Mark Vincent Hansen. Both will help with education, motivation and inspiration.
Just to let you know there are many home based businesses that started small … look at them now: Ebay, Coca Cola, Dell Computers, Microsoft, and even Disney Studios to name a few. There’s no reason that your dream business can’t become a reality. It takes planning and motivation. If you are truly serious about a profitable business, you’ve got to take action. There is no business fairy that is going to plop a wallet of cash while you sleep. Because of that, it is so important to find your passion and use it to your advantage and to the advantage of your potential customers.
What kind of business can you start? Wow… there are sooo many options for you. What works for one person won’t work for another. Some people make money babysitting but I would rather poke my eyes out with skewers that watch other people’s brats yet others are making alot of money and love what they do. You might enjoy buying old skateboards (or bicycles or furniture to computers) and refurbishing them to resell for a profit. Maybe you can write a monthly (or quarterly) newsletter for others that share your passions and thirst for knowledge. What about cooking or baking some signature dishes to deliver to local office buildings? You might want to teach computers to older or younger people? Maybe website design to small business??? How about selling and installing programmable thermostats or doing energy audits for homebuyers or homeowners??? I could go on and on but it’s really up to you to determine the needs for your customers and finding solutions for those problems.
There are alot of online resources for help for young people like yourself but there are also a lot of scams. Remember the expression, “if something is too good to be true, it probably is.” The main concern for you is your safety. Make sure to get your parents on board with your plans and don’t let greed for money counteract your common sense. Think things through.
There’s a great organization called Junior Achievements (http://www.ja.org) that can offer you entreprenual advice and guidance… check them out. Also the SBA and Score can provide you with mentors. Their sites are http://www.sba.gov and http://www.score.org. Don’t be afraid to ask for help. If you are truly serious about a business, you’ll want to work legally and ethically. The last thing you want is court battles, fines, lawsuits, etc. stealing any profit protential that your business may have.
If you get a business license and a foundation of knowledge on taxes and accounting, many of your business expenses can be paid by your company instead of out of pocket. Why not get a cell phone or laptop computer as a business expense write off? You can’t do that without a legal business entity. Take clients out to lunch on the business. Take a work-related trip to another city or even country. Yup, they are legal business expenses (or should I say can be).
I do recommend a business plan and those forms and information can be obtained from your library. Also look for local youth groups for entrepreneurs. That’s where Junior Achievements may be able to help you. I don’t know much about JA except they have a great reputation… check it out at the link above.
I could go on and on writing about business ideas but you can make money doing almost anything if you set your sites on it. Focus on customer service. Focus on being the best. As you get customers who refer customers, your business and your experience will grow.
Don’t wait for your ship to come in … Swim out to meet it.
Success is a journey, not a destination.
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