Many teenagers have hobbies that they spend much of their non-school time enjoying. For some, it might be baking, graphic design or fixing bikes. For others, it may be coding, photography, or making handmade products.
Whatever they are into, sometimes these hobbies can grow into something more meaningful. Indeed, with a little bit of encouragement and by developing their skills, a simple pastime can turn into a small business venture that teaches them valuable life lessons.
One of the biggest differences between a casual hobby and one that grows into a small business is communication. That is because being able to explain your ideas clearly and respond to others with confidence stands these teens in good stead.
These skills matter just as much as talent and passion. Especially when young people start sharing their work with others. In this post, we’ll look at how communication helps teens turn their interests into real small business opportunities. And how parents can support them on this journey.
Why is Teen Entrepreneurship on the Rise?
According to recent research from GoDaddy, just under 25% of all young people in Australia aged between 18 and 26 have a side hustle. While the numbers of those between 13 and 17 weren’t recorded, it’s a fair bet to assume that a sizeable portion of that age group does so, too.
In recent times, there has been a surge in teen entrepreneurship Down Under. One of the main reasons is the unprecedented access Gen Z and Gen Alpha have to new technologies. These include digital tools such as WordPress and Shopify, as well as social media marketing platforms like Instagram, TikTok, and Facebook.
For many young people, business is the new rock ‘n’ roll. That’s because it enables them to make good amounts of money and exercise a level of creative output that they otherwise wouldn’t be able to, from working in supermarkets or other part-time roles.
Additionally, there is now a stronger desire amongst young people for independence rather than traditional 9-to-5 jobs. This has been further fuelled by low startup costs and the development of a creator economy.
What type of businesses do teens run?
Across Australia, many teens today run side hustles or small businesses. Some, especially those operated by very young school-age children, are little more than washing cars or selling lemonade by the roadside.
However, others have launched online ventures and achieved success by promoting them through digital platforms. These web-based ideas allow teens to share their interests or creativity with a large audience across Australia. Some of the most popular types of businesses they run include:
- YouTube channels focused on gaming, tutorials, reviews, or affiliate products
- Instagram pages selling handmade products or digital art
- Online graphic design or video editing services
- Social media management for small businesses
- Digital product stores selling templates, prints, or planners
- Photography businesses selling images online
- Blogging or niche content websites
- Online tutoring or course creation
Some young people have enjoyed tremendous prosperity. Ali Kitinas, for instance, was labelled “Australia’s youngest CEO”. At 14, she launched Coffee Scrub, a company that produces an ethical body scrub made from recycled coffee grounds. She was mentored by Sir Richard Branson, and this business now generates hundreds of thousands of dollars every year.
Lucas Lane is another excellent example. Aged 13, he launched a company called Glossy Boys that sold a 3-in-1 nail polish pen for men. In just 9 months, he achieved sales of $67,000 and eventually secured an investment on Shark Tank.
What Can Teens Learn When They Try Running a Small Business?
Of course, not every teen will enjoy anywhere near this level of success. However, if they run their own business or side hustle, they learn a hell of a lot while doing it.
For instance, they will discover how to communicate clearly, stay organised, and handle feedback. Additionally, when they start interacting with customers or suppliers, they will practise real business conversations, which will build confidence and communication skills.
Other knowledge they could gain is the usefulness of various tools and systems that might improve the efficiency of their operation. For instance, platforms such as Telcoworks small business phone solutions can teach them how to manage enquiries, messages, and basic business functions.
Through these experiences, teens are more likely to develop life skills they will carry on into their school, work, and future careers. These include:
- Explaining their product or service clearly
- Responding to questions and messages in a timely way
- Handling feedback and learning from it
- Setting boundaries around time and availability
- Speaking confidently with adults and peers
How Can Parents Best Support Their Teen Entrepreneurs Without Taking Over?
Parental support is vital for teenagers in all aspects of their lives. But it is especially important when their offspring are running a business or side hustle.
Running a business is hard even for seasoned professionals. So, it is inevitable that your teen might struggle at some point. When this happens, it is important to provide them with strong support.
You can do this in several ways, including helping them develop a plan of action, offering feedback, or encouraging them to reach out to other professionals for advice on LinkedIn (if they are over 16).
Perhaps, most importantly, you should ask them what support they actually feel like they need. When parents allow teens to guide them towards the type of assistance they require, they will find it much easier to inspire them in ways that could significantly improve their fortunes.
Also read:
How to Help Your Teen Choose Good Friends
How to Get Your Teens Off Screens and Outdoors
Image credit: Freepik, senivpetro
