Start-ups are very much hype at the moment. Success stories of small companies being bought up by the GAFA or consorts are played in loop on TV. It is no wonder then that such stories get people thinking “could I make something like this?”
Usually such process starts with an idea. Then it grows into a plan. But quite often this plan hits a roadblock: someone is already doing “it”, the founder lacks the technical expertise to get through to the next step or “the maths” do not work and it seems impossible to generate meaningful revenue streams… Most of the time then, the idea dies. People are disappointed and see this as a bad experience.
This whole chain is a natural process, geared towards the survival of the fittest. It is the nature of it. I would argue though that this high “mortality rate” should not turn you off. Indeed, I think that even though most ideas do not work, the process in itself is rich in learning. Hence having a go-at-it will always be worthwhile, especially for teenagers.
Over the past few weeks, I have discussed this process with many teenagers and their parents. There are 6 reasons I always like to present as to why teenagers should go through such process and start their own small business:
1) You can start with a super simple idea; it will be easier to implement
Your idea does not need to be the brain child of a rocket scientist. Simple ideas are easier to implement. You should combine your passion with your strongest skill, knowledge or talent. Then you need to apply this combination to solve a problem, for which people (or businesses) are prepared to pay to find a solution.
2) Your idea does not need to be unique; it will require perfect execution
In fact being unique could make your idea more difficult to implement. Being unique means…