How to Enter:
For more information, see Bright Start's Official Rules. Want to see last year's winning videos? Click here.
Getting started as an entrepreneur can be simple or complex based on the nature of the business. However, to be a successful business owner, there are several steps that need to be taken.
Step 1: Idea
The first step to any business is to come up with an idea. Children can start a business by expanding on their talents and interests or by simply targeting an area in which they want to make money. Some business ideas based on ages are:
Art skills – crafting, painting, scrapbooking
House work – painting, cleaning
Step 2: Marketing
Depending on the business idea, marketing can simply mean finding a customer through friends and family. For older kids, it may be passing out flyers, using social media to showcase their products, and even business cards.
- Business Cards
- Social Media Presence
- Word of Mouth
Step 3: Administration
Running a business can seem pretty intimidating for anyone, and like any new business owner, children will learn from their successes and mistakes. Most children can easily run a small business with the help of an adult. For more robust businesses, it would be important to:
- Make a Business Plan
- Track and Manage Expenses
- Keep a Customer or Client List
Step 4: Financial
Once a business has been established, it’s important for children to have a plan for the money they make. A great and easy concept to teach kids is the Three Money Principles of Save, Spend, and Share.