5 questions for teenagers who found a business or a passion for passion

Young entrepreneurship continues to grow, and 66% of teenagers aged 13 to 17 say that they will probably be a company as an adult. This interest extends to gender – 61% of young girls and 54% of boys have considered starting companies. Timing is perfect because the universities in approval decisions more than ever appreciate experience.

Starting a company shows initiative, shows practical skills and helps the applicants to stand out. For teenagers who are willing to join this movement, asking the right questions can make up the difference between success and frustration before starting.

With WIT (whatever it needs) we have worked with over 10,000 young entrepreneurs since 2009. We recommend these five questions to help teenagers build strong foundations for their business ideas or to transform their passion into secondary employment.

1. Which problem am I really passionate about the solution?

The best youthful companies start with real interests and not with what could impress the College approval officers. This is important, especially since 58% of teenage entrepreneurs are more likely to establish a company if it is connected to a social cause.

Many young entrepreneurs pursue trendy opportunities instead of concentrating on topics that are important to them. This approach often leads you to quit when challenges arise. Real interest helps teenagers to continue when obstacles occur – a critical ability, since universities increasingly appreciate resilience and initiative in their approval decisions.

Example: A teenager who is passionate about sustainability could start an upcycled fashion business on Depop or Poshmark and transform second-hand clothing into unique fashion pieces. Your authentic interest in fighting fast fashion waste gives you a purpose that goes beyond profits.

2. What skills do I already have and which one do I have to develop?

Young entrepreneurs often underestimate their existing talents while thinking they need more preparation. While the average age of the startup founder has dropped to 28, many successful entrepreneurs begin much younger – 13% of adult entrepreneurs started their first business with 18 years or younger.

Young people should list their current skills and then identify what they still have to learn. The entrepreneurial process itself conveys many necessary skills. With almost 30% of the entrepreneurs of teenagers that found companies in technology areas, digital skills prove to be particularly valuable, but certain companies may require different functions.

Example: A teenager with photographic skills can start a portrait or event photography business with its smartphone and basic processing apps. You can use your eye immediately for the composition, but you may need to be developed when growing customer management and pricing.

3. How will that fit in my current obligations?

The management of business tasks in addition to the school is a real challenge for teenage entrepreneurs. Before the start, the creation of a realistic schedule with specific times for business work helps to prevent burnout.

This planning is important, especially since 60% of the entrepreneurs of teenagers for their business success are very important for their business success for the attention and the creation of content. The balance of these requirements with academics requires careful time management.

Example: A teenager who is interested in creating content can start a YouTube channel that focuses more on weekly uploads than on daily content. They were able to film and work on the weekend and free the weekdays for school work. During the examination times, you can prepare content in advance to maintain the consistency.

4. Who can support and lead me through this process?

Every entrepreneur needs consultants. Before the start, young people should find potential mentors who can help to deal with challenges.

This support becomes particularly important when you consider that only 4% of teenagers receive external funds. Most young founders finance their activities and make careful financial guidance of crucial importance. Organizations such as WIT and Entrepreneurship competitions combine teenagers with experienced business owners who offer valuable ideas without financial investments.

Example: A teenager who starts a local lawn care or a washing service for a car can combine with a friend of the family who runs a small company to find out more about prices, customer service and basic accounting. You could also join local young entrepreneurs' meetings or online communities for peer support.

5. What does success look like for me, beyond money?

Financial returns are important, but only concentrating on profits, often disappointed young entrepreneurs. Young business owners should define personal success measures that meet their values.

For many teenagers, success includes building leadership qualities, gaining trust or creating positive changes. Since female representation in youth entrepreneurship is strong (almost 60% of young entrepreneurs are female), success often includes breaking obstacles and creating new opportunities for underrepresented groups in business.

Example: A teenager who starts a tutoring could not only measure success after hourly prices, but also after the academic improvement of his students. You could pursue confidence levels, increases and positive feedback as sensible indicators for your business effects.

First steps: First concrete steps

After answering the five questions, young people should take these practical measures:

1. Create a simple one -sided business plan: Circling the problem, the solution, the goal of the customer and the basic financial data on a single page. Hold it simply but specific.
2. Create a minimally viable product: Create the simplest version of your offer that solves the core problem. For a tutoring, this could mean creating a simple flyer and starting with a topic.
3. Find your first three customers: Focus intensively on making three people trying out your product or service. These early users give crucial feedback.
4. Take a consistent work plan: Block certain times every week for your company-even if it is only 3-5 hours. Consistency is more important than the amount.
5. Enter a community: Connect to other youthful entrepreneurs through programs such as wit, local business cubs or online communities. Peer support is invaluable.

College approval advantage

The entrepreneurial experience offers unique advantages for different types of universities:

For Ivy League and highly selective schools: Entrepreneurship shows initiative and effects. Harvard, Stanford and similar institutions are looking for applicants who have taken risks and have shown leadership. Your company offers concrete examples for both.

For Colleges of the Liberal Arts Colleges: These schools appreciate creative thinking and interdisciplinary approaches. A company company shows how they combine different fields and think critically – that they prioritize.

For public universities and state schools: These institutions are increasingly appreciating practical experience and careering. Your entrepreneurial background shows that you are prepared for the real world.

When writing college attachments, focus on what you have learned from failure, how you have adapted to challenges and the effects of your company on others. These considerations impress the admission officers more than financial success.

Start now with what you have

There is no perfect preparation. The best approach is to start with your current resources and position.

By asking these five questions, teenagers build ventures that improve college applications and develop practical skills that last for a lifetime. Universities appreciate entrepreneurial experience because business companies demonstrate initiative, skills in real world and time management. Starting a company helps the applicants to stand out and at the same time provide rich material for personal statements and essays.

Many universities now emphasize innovation and entrepreneurship in their values. The business experience of a teenager can perfectly match these priorities, especially if the company has positive economic or social effects. The entrepreneurial approach -difficult challenges, learning from mistakes and measures -presents young people for success in College registrations and far beyond their first business.

Ready to help a teenager in her life to start his entrepreneurial journey? These five questions offer the perfect starting point. The most important step is easy to start.