What talent does your teen have that could become their money tree? What are they passionate about, what do they absolutely love to do and would do all the time if they could? What bright ideas do they have? Can they turn that into a profitable business?
Does your teenager want to be a musician or songwriter but they haven’t shown any musical talent? What sort of businesses could they have around music? How about selling music, either records, downloads, or sheet music. What about musical instruments? Start small by buying and selling on Ebay or Etsy.
Did you know that Richard Branson, now a billionaire who owns the Virgin companies started selling music from his home in London when he was boy? He certainly parlayed that into a successful corporation. He went from his home business to Virgin Records.
Recently on the show House Hunters International they featured a man who wanted to move to an island and work from home. He started a business teaching piano on the internet using an online video platform so he could live where he wanted and teach piano to people all over the world. He claims to have a multimillion dollar business and his home purchase seems to confirm that. Granted he’s not a kid, but this is something a kid can do.
What skills or talents is your teen capable of teaching to someone else? How about creating tutoring videos about math or history? Teaching guitar by video or how to garden, how to can and preserve, how to crochet, how to scrapbook?
Have you heard about the tween who started a company called Man Candles because he was embarrassed to use perfumed candles? They are masculine scented candles in a can. The company grew from his home kitchen to become a real manufacturing company.
One young woman became a millionaire selling greeting cards she designed for teens because her friends complained that none of the cards in the store fit their age group.
Recently I saw a video about a 12 year old who was well on his way to becoming a five star chef because he got fed up with mother’s poor cooking skills. He decided to teach himself how to cook. He watched the food network, practiced knife skills then started cooking. He turned his bedroom into a professional chef’s kitchen with money he earned and once a month he and his mother turn their home into a restaurant where he tests his skills on the neighbors. This 12 year old is now apprenticing with some well renowned chefs and his goal is have his own 5 star Michelen restaurant in the near future. You can see his passion when he talks about it. It made me want to find out where he’s cooking and get an invite.
Another young man who is 11 was so repulsed by the effects of genetically engineered food that he has decided to become an organic farmer. He is learning everything he can and is educating other young people along the way about healthy eating.
Ted Talks features a 12 year old boy who creates apps for android phones. His apps are very popular, he’s earning a lot of money and has plans for a future in Silicon Valley.
And if you don’t think your kid can create a million dollar business around skateboarding, just google Tony Hawk and get back to me.
Kids are amazing and can accomplish awesome things when given half a chance and some solid support. What are you doing to empower your kids to become an entrepreneur?