3 answers
Zack
Student
Texas City, Texas
1
Question
Asked
519 views
what are business models?
what is the best business models for a teenager? starting a business got many challenges why are some ways to overcome them and types of challenges we faces
Login to comment
3 answers
ReKia Rivers
Digital Technical Support Representative
1
Answer
Locust Grove, Georgia
Updated
ReKia’s Answer
Depending on the laws in your area, it might be necessary to team up with a reliable adult who can help you explore and consult with a lawyer to thoroughly understand the child labor laws in your region. This is particularly important when it comes to establishing your business, understanding credit, finding grants, and discovering resources that are available to you and your venture.
It's crucial to dig deep into research, understand your product, know your market, and familiarize yourself with your audience. Being young, you may find that some people will attempt to belittle you. But remember, if you have faith in yourself and the business you're starting, stay committed to your path.
Eventually, you'll grow up, and when that happens, you'll already have a head start in the business world. Believe in yourself, because you have what it takes to succeed.
It's crucial to dig deep into research, understand your product, know your market, and familiarize yourself with your audience. Being young, you may find that some people will attempt to belittle you. But remember, if you have faith in yourself and the business you're starting, stay committed to your path.
Eventually, you'll grow up, and when that happens, you'll already have a head start in the business world. Believe in yourself, because you have what it takes to succeed.
Collins Lucky
Data Entryspecialist, Cost analysis, Repairing of all kinds of smartphones, Apple, & Samsung mobile.
48
Answers
Bonny, RV
Updated
Collins’s Answer
Hey there, Zack!
**Understanding Business Models**
Think of a business model as a blueprint for how a company brings in the bucks. It's all about how a business creates, delivers, and grabs hold of value, and lays out the strategy for raking in revenue and turning a profit.
**Teen-Friendly Business Models**
1. **Service-Oriented**: Think tutoring, mowing lawns, or sitting pets.
2. **E-commerce**: How about selling your handmade crafts or other products online?
3. **Content Creation**: Consider blogging, creating YouTube videos, or running social media accounts.
4. **Dropshipping**: Run an online store without worrying about stock.
5. **Freelancing**: Use your skills, like graphic design or writing, to offer services.
**Hurdles and How to Overcome Them**
**Potential Hurdles**
1. Not having much experience
2. Limited resources
3. Juggling time
4. Navigating legal stuff
5. Building trust and credibility
**How to Tackle These**
1. Learn as much as you can and find a mentor.
2. Start small and grow from there.
3. Make the most of technology.
4. Be smart about managing your time.
5. Connect with other entrepreneurs.
6. Do your homework and plan ahead.
7. Take advantage of support programs available to you.
**Understanding Business Models**
Think of a business model as a blueprint for how a company brings in the bucks. It's all about how a business creates, delivers, and grabs hold of value, and lays out the strategy for raking in revenue and turning a profit.
**Teen-Friendly Business Models**
1. **Service-Oriented**: Think tutoring, mowing lawns, or sitting pets.
2. **E-commerce**: How about selling your handmade crafts or other products online?
3. **Content Creation**: Consider blogging, creating YouTube videos, or running social media accounts.
4. **Dropshipping**: Run an online store without worrying about stock.
5. **Freelancing**: Use your skills, like graphic design or writing, to offer services.
**Hurdles and How to Overcome Them**
**Potential Hurdles**
1. Not having much experience
2. Limited resources
3. Juggling time
4. Navigating legal stuff
5. Building trust and credibility
**How to Tackle These**
1. Learn as much as you can and find a mentor.
2. Start small and grow from there.
3. Make the most of technology.
4. Be smart about managing your time.
5. Connect with other entrepreneurs.
6. Do your homework and plan ahead.
7. Take advantage of support programs available to you.
Latifa Stephens
9
Answers
Updated
Latifa’s Answer
As a teenager, you might be too young to formally set up a business. But you could look into things like tutoring if you are really good at a particular subject, or walking dogs for neighbors, or running other errands such as grocery shopping for older neighbors. But make sure you talk with your parents or guardians about what to do with the money you make!