Kids can have businesses too.
Having a business is a great way to have fun and focus your energy and efforts on something positive.
Create a product or service that you're passionate about and gather the materials and/or money you need to get started.
If you don't already have an idea for a business, have a brainstorm.
Make a list of the things you're really interested in. These don't need to be businesses, just things you enjoy.
Now, can you create a business from one of the things you enjoy? A business is simply any product or service that you can exchange for money.
For example, if you enjoy fashion or art, you might decide that you could customise t-shirts to sell to friends or make your own greetings cards to sell at a neighbourhood market.
Your business name should be something original, that people will remember and that makes sense for your product or service.
Creating your own logo is great fun. Again, it should be original and memorable. You could draw your logo on paper or on the 'My Business Idea' template available in the downloads section below. You could even design it electronically.
You might need some materials to make your product or help with your service.
Make a list of these and ask an adult to help you source them.
Consider how you will pay for these materials and how much they will cost.
Could you ask a family member to invest some money to help you start your business? You will need to pay them back once your business starts making money. This is called having an investor.
There are a few things to consider:
Where could you sell your product or service?
How much will you sell it for?
Sale price minus the cost of making the product = profit (amount of money you will make!)
What sort of customer will want to buy it?
How will you advertise? You may need some of that investment money to help with this.
Planning is a great way to focus and stay on track.
Watch the introduction video then print off and complete the Junior Dragons 'My Business Idea' template from the downloads section below to help you get started.
Check out this great video of some of the young entrepreneurs featured in the Shark Tank TV series.