A teenage girl starting a business may seem like an ardent task, as without proper guidance, they might fail. The same would apply to anyone out there wishing to be an entrepreneur. Although the idea of being an entrepreneur may seem enticing, there are lots of challenges that one might go through during the process, which would make few people vibrant entrepreneurs. But what if you wish to start? Where can you get the appropriate advice? Indeed, books are the best places to get information. Choosing the best book to read can be hectic, so I suggest you read a book that can help you start and run your business—
Teenage Girls and Business: Making It Happen by Anastasia Olson.
From the book, you will learn how to come up with the best idea and get your business running. This is one of the few books written by a few people who have been in the business, which contains well-researched and proven business techniques. The book will provide you with the knowledge needed to be a successful entrepreneur. It is also to the point and easy to understand. Above all, it is an engaging book that requires you to fill a journal at the end of each chapter.
We’ll begin by looking at the steps in business idea generation.
Mental Health is Everything
For a long time, money-generating activities in society were left for the men. Women were left to do regular house chores. They still had a profound role in society, but in terms of equality, society was lacking. Women who wanted to explore other things were limited to societal norms.
Today, the world has made a strident effort to ensure there is equality among all genders. But what limits most women into taking certain roles, such as becoming entrepreneurs? It’s probably their motivation.
There are some who have taken this role as entrepreneur. They are the braver in society who have played a pivotal role in motivating others. Among these women, some teenagers have made it as successful businesswomen, such as Rachel Zietz.
You can succeed in business too with the proper mindset. Motivation is the fuel of success. If teenage girls are less motivated, then they cannot succeed. Some things they must avoid include the mental limitations, which would be the major stumbling blocks to their success. Another issue is with setting a concrete goal and knowing what one truly wants to achieve. Arnold Schwarzenegger once said that the first rule of success is to have a vision of the goals that you want and to never drift away from the goal along the way.
Starting and running a business is an enriching life experience that can be interfered by personal apprehensions. Do not succumb to your fears, and eventually, you will outrun your fears. When you have established your business, you will learn how to tame it. So why wait any longer to start a business?
Other books on the same matter to read:
How to Find Your Business Idea
After the gentle nudge into the business world, here, let’s focus on creating a unique business idea. As a businessperson, teenage girls should strive to generate a unique business idea. There is no shortage of ideas in this world, but the best starting point for generating a business idea starts with you. Understand yourself, identify the business ideas that match, and be frank with yourself. What skills do you possess? Do you have any problem-solving skills? Some skills can be acquired through learning. If you do not have certain skills, you can enroll for a course and learn it.
There is one key, underlying point your idea must satisfy. It should solve a problem in society. Look at the most successful businesses in the world—there is a problem in society that they solve. Airbnb, for example, helps travelers book a hotel online much cheaper and easier than other conventional methods. What problems can you identify? What are the possible solutions to the problems? Think about it in this line, and you will have a wonderful business idea.
Other books related to this topic:
Upgrade Your Business Idea
Here, we would ideally be upgrading your business ideas. You can evaluate a business idea using several methods. The first method is the principle design. This is a method that was made popular by Elon Musk, and he has used it time and time again to come up with a sound business idea. A good example where Musk used it is when he wanted to venture into space. Another method is the SCAMPER method: an abbreviation for Substitute, Combine, Adapt, Modify, Put to another use, Eliminate, and Reverse. The SCAMPER method is a series of provocations that challenges the existing product to come up with a new idea.
But there are other methods—such as collaborative ideation, blue sky brainstorming, and the Ki method—that can be used in idea generation.
Other books related to this topic:
Market Research
The market is a vital component when starting a business, meaning that you cannot ignore it. A business must know what type of consumers they wish to serve. They should study and know what appeases those customers. Competitor analysis is also of importance at this stage. As an entrepreneur, you must analyze the methods that your competitors are using to satisfy the needs of the market. Have the market problems been solved? What do people not like in the market? Ultimately, you will have to segment the type of customers that you want. These are the ones you should do everything to satisfy. Learn what they like and try to build a good rapport with them. Where the existing business has failed or ignored in the market should be your main focus.
Marketing is a Must
If you are at this stage, there is much that you have done already; however, that is not all. You have to let the world know about the existence of your product. It will do you no good if you do not market it. Marketing is like telling the world “Here is one of the best products you will ever purchase.” If they are to buy into it, you must have a good marketing strategy accompanied by good products.
Sometimes—unless you are a monopoly—without a good marketing strategy, the business might not make sufficient sales, even though you may have a high-quality product. As what is a common theme, you have to evaluate what the competitors are doing and what channels they are using. Are they effective? Analyze the level of dominance the marketing channel gives the competitor. From there, you can devise an effective marketing strategy.
Other books related to this topic:
Monetizing Is Key for Sustainable Business
Pricing is another important concept with an impact on the number of profits you can generate. It might sound like a simple concept, but it’s an area that most businesses terribly fail in. It might sound like common knowledge to lower the prices of goods, but it may be catastrophic. She also does not encourage overpricing. Any increase or decrease in price should be strategical. The business should resist the urge of pricing for everyone, as it’s practically impossible. There are different pricing models that the business can apply. A common example is the cost-plus pricing model, where the price would be determined by factoring in all the costs incurred until the products reach to the consumer and a slight margin that could be 20% after the costs.
Other books related to this topic
How to Fund Your Business
To many, funds are always a challenge. You need funds to get your business going. What are your options for getting the funds? There are several ways you can generate funds for your business. Examples are friends and families and crowdfunding.
Other books related to this topic
Business Optimization
You always envisioned that your business should move between strengths after upon its inauguration. How will you ensure this? Business optimization is a concept that you should not ignore. You should know how you can increase key business metrics, such as site traffic, and sales conversion rate.
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