blog | 2min Read
Published on June 8, 2022
Have you ever dreamed of being your own boss, working on your own terms, or having unlimited earning potential? The most impactful things you can do as a teenager to reach that goal is starting and launching your own company.
This does not go unnoticed by College Admission Officers, Recruiters, Scholarships Officials, Companies, etc.
So you want to be an entrepreneur but you’re not sure how to get started? Here’s a guide to fast-track your business Idea!
Before we get into the nitty-gritties, We are gonna let you in on a little secret:
No one who starts a business for the first time really knows what they’re doing.
Seriously! Especially in the early stages, it’s not about what you know but about learning from making mistakes. Focus on what you don’t know, and on learning and growing.
1. Find your Passion
The most successful startups are founded by people who are passionate about what they do. So what are your passions? When you base your ideas on something you truly love, you’ll be more focused and motivated.
2. Know Your Market
The better you understand your target market, the easier it will be to avoid costly misfires. If you want any chance of success, you need to thoroughly research your target market before launching your business.
3. Get your Finances in order
While many startups enlist the help of angel investors, many
entrepreneurs need to use their own funds to start their companies, which means you should do everything you can to improve your financial situation.
Start building credit as early as you can to help you get that loan easily.
4. Find a Mentor
Finding a mentor is one of the most important things a young entrepreneur can do. Use alumni networks, conferences, and other resources to form these valuable connections as they bring knowledge and experience to help you move forward and make smarter business decisions.
5. Tune up your business knowledge
Take the time to improve your business IQ and pay just as much attention to the business side of things as the creative side.
6. Be a Planner
By placing key actions on a timeline, you’ll improve your focus and accountability, making it much easier to stay on top of what needs to be done.
Wanna get a step-by-step guide on how to become a young entrepreneur in high school and learn under successful mentors like Arun Saigal (founder of Thunkable), Kristin Kagetsu (founder of Saathi Pads) and Aman Gupta (founder of Boat)? Then check out Ivy Early Entrepreneur Program, our 7-day program featuring a guaranteed internship with leading firms!