What's
So Great About Being Your Own Boss?
Lots of things! Start a
business, and find out for yourself.
TeenStartUps.com -
April 2002
By Amy Rauch Neilson
(YoungBiz.com) - Being
your own boss must be the
life. Setting your own
hours, giving yourself a
raise when business is
going good--all while
you're doing a job you
love. It doesn't get any
better than that, right?
Most 'treps love being in business for themselves
and wouldn't have it any
other way. Not only do
they call the shots, but,
as young entrepreneurs,
they're also getting a
head start on what it
takes to be a business
success.
Flex Time Rules!
One of the biggest pluses
to being a young
entrepreneur is the
flexibility of being your
own boss. "There are
advantages to having your
own business," says Keith
Dixon, the 19-year-old
owner of Golden Touch Car
Wash in Pembroke Pines,
Florida. "You can control
how many hours you work,
how much money you want to
make and who will work for
you."
Dixon makes house calls
to wash his customers'
cars, vans and RVs. His
business is a hit in his
South Florida hometown,
where the sun always
shines and people want
their cars to look good.
Getting Experience
Being a 'trep also gives
you a head start in the
basics of running a
business. Regina Jackson,
owner of Regina's Jewelry
Designs in Washington, DC,
learned a good deal about
setting prices and
improving her products.
After researching her
competitors, Regina, then
16, realized she wasn't
charging enough for her
earrings, bracelets and
necklaces.
Jackson also focused on product development. "My
jewelry has gotten better
than it used to be," she
says. "Now I use fishing
line instead of string,
and it's much better."
Ouch! That Hurts!
As with any pursuit in
life, there are pitfalls
to watch out for along the
way. Jayson Meyer, 19, has
what every 'trep dreams
of--a company worth six
figures and a big office
with a view of none other
than Daytona Beach,
Florida. But it hasn't
always been Easy Street
for Meyer.
Meyer's hardest lesson came when a
stockholder/partner he had
trusted with a new project
tried to pull a fast one.
"He took a lot of
sensitive materials, like
job bids, and tried to
start his own company with
those leads," Meyer
explains. "I was too
trusting. I didn't do
enough research into who I
was getting involved
with."
Being a teenage CEO calls for tough skin and a
quick mind. These days,
Meyer often consults with
his greatest mentor, his
father, for advice.
Hiring and Firing
Jen Keller, 18, owner of
Strung Out Beads and
Wiring, a bead and
make-your-own-jewelry
store in Somerville, New
Jersey, sets her own hours
and makes money doing
something she loves. It
isn't hard to find
employees to work in this
trendy biz--Keller's store
is popular with part-time
job-seekers, especially
teenagers, because they
are interested in making
jewelry and having
flexible hours.
Keller is living the dream. But she has also lived
a business owner's
nightmare: firing an
employee. The employee in
question often arrived
late and called in sick.
After giving her a few
warnings, Jen knew what
had to be done.
Looking back, Keller says she should have followed
early clues and not hired
the girl in the first
place. "You need someone
who's dependable--someone
who will care for your
business as much as you
do," she says.
No doubt about it, there's lots to be said for
starting a business. Not
only do you get to make
your own hours and call
the shots, but you're also
well on your way to making
your dreams become a
reality. And no matter
what path you choose down
the road, having the
entrepreneurial experience
under your belt can only
work to your advantage.
Studies show that people
who dabble in business as
teens are more successful
as adults. So what are you
waiting for?
Duties of a CEO:
- Set the direction of
the company.
- Be the chief
communicator.
- Lead the management
team.
- Manage corporate
resources.
- Instill
company values, or culture.
Suggested Links:
|
