Every age has its own set of young entrepreneurs who have attained remarkable success in their ventures. For many of these stars, starting early to pursue business as a means of leaving their impact on the world is essential. We’ll learn about these young entrepreneurs, including Black entrepreneurs, in this article. We’ll also get to understand the inception of the young entrepreneurs academy and the young entrepreneurs organization. In addition, we included business ideas that can help propel prospective young entrepreneurs.
What Is a Young Entrepreneur?
A young entrepreneur is a kid or adolescent who takes risks to start and run a business, or who discovers new ways to do business better. They are the type of person that recognizes and seeks chances while avoiding hazards.
Successful Young Entrepreneurs
These young entrepreneurs go out to conquer the world of business, whether driven by family, events, or a desire to have fun.
#1. Hart Main
Hart Main, then 13, came up with the notion of masculine scented candles after making fun of his sister’s girlie scented candles for a school fundraiser. He didn’t think twice about what he said in jest until he went out to buy a $1,500 bike.
Hart and his parents contributed little sums to the start-up and collaborated to develop the candles, aptly titled ManCans. They are presently created by a developmentally impaired workforce at the Beaver Creek Candle Company in Lisbon, Ohio.
#2. Kamaria Warren
Kamaria Warren and her mother, graphic designer Shaunice Sasser, went shopping for birthday invites for her forthcoming party when she was seven years old. They discovered that there was no merchandise that represented Brown and Black girls. Brown Girls Stationery was born as a result of a necessity.
That paved the way for the McDonough, Georgia, native to create party and school supplies, stationery, vegan purses, and female accessories. Warren also offers dolls and most of his products include a cheerful depiction of a Black or Brown female.
#3. Hickman, Ryan
Ryan Hickman understood at the age of three that he didn’t like seeing discarded bottles and cans on the ground, so he took action. Hickman began collecting his family’s recyclables and then traveled to the local recycling center with his father, where he received $5 for the load. He was so impressed by that exercise that he began collecting his neighbors’ recyclables by going door-to-door on his bike with a bag attached. Ryan’s Recycling Company was established by the seven-year-old youngster from Orange County, California.
#4. Lily Born
Avoiding a spill is the best approach to deal with it. That’s what inventor Lily Born had in mind when, at the age of eight, she witnessed her Parkinson’s-affected grandfather repeatedly spilling his beverages, leaving her grandmother to clean up the mess.
Born founded Imagiroo LLC after inventing the three-legged cup known as the Kangaroo cup that will not tilt. Born and her father traveled to China’s ceramics capital, JingDeZhen, to develop her design. They were able to develop the models, identify a manufacturer, and plan for a production run of ceramic cups, which are also available in plastic. They also received financial assistance from the crowdfunding sites Kickstarter and Indiegogo.
#5. Kiki Hardee’s
Katelynn “Kiki” Hardee of Vista, Calif., was five years old when she decided that neither her classmates’ families nor the local schools should suffer debt for school lunches. She had discovered that her Vista Unified School District school had more than $600 in school lunch debt and that some students had to skip lunch because their parents couldn’t afford to pay for it. That was all intolerable to Hardee.
Hardee began selling cookies and hot chocolate, as well as other fundraisers, to generate funds for what became known as Kiki’s Kindness Project. Hardee, now eight, eventually raised enough money to pay off the entire district’s lunch debt, totaling more than $7,000. Hardee’s ongoing efforts have raised more than $22,000 with the goal of collecting $250,000—and encouraging other children to find ways to help those less fortunate.
#6. Vinusha MK
Vinusha MK was inspired to prepare a cake for her mother’s forthcoming birthday. The cake tasted good the first time, but it wasn’t the appropriate consistency. She decided she would never bake again. That was only temporary. The cakes turned out beautifully on later attempts. As a result, a baker was born.
Vinusha also hopes to establish a culinary institute for low-income individuals in India. Until then, the hardworking baker, aged 12, sells her unique cupcakes as well as a baking kit to assist children in preparing cakes without the use of the Internet or a smartphone. Meanwhile, she works as an intern for famous chefs at major hotels in India and runs her own business, selling pastries, cakes, chocolates, and sandwiches online.
#7. Mia Monzidelis
Many young children desire ponies. That’s good if people live in the country, but for city and suburban dwellers, that goal is practically difficult to realize.
That’s what Mia Monzidelis’ parents told her when she was five and asked for a pony to keep at her suburban home in Bellmore, Long Island, N.Y. She considered her desire creatively and came up with the concept of Power Pony, a mechanical pony or unicorn with a fuzzy surface and mechanisms within that are interactive and have an iOS app.
#8. Fraser Doherty
Doherty began making jams using his grandmother’s recipes when he was 14 years old. The adolescent began selling the delicious goodies door-to-door in his Edinburgh, Scotland neighborhood. Then he put up a stand at an Edinburgh farmer’s market and delivered orders by bike to customers. However, as word spread, he received more orders than he could fulfil. To satisfy demand, he dropped out of school and rented a factory for a few days each month.
Waitrose, a high-end U.K. supermarket, approached Doherty in 2007 about selling his 100% fruit SuperJam products, which led to his jams receiving shelf space in many stores across the U.K. and Europe. Doherty debuted his items in Korea and Japan five years later, selling one million British pounds in an hour on a Korean shopping network.
Young Black Entrepreneurs
Entrepreneurship is not limited by race or gender. The black entrepreneurs profiled here have raised the standard not only for Black company owners, but for all business owners.
Top Black Entrepreneurs to Inspire You
#1.Madam C.J. Walker
You may not have heard of this woman, a pioneer in Black inventiveness who lived from 1867 until 1919. She invented a hair care product and traveled the southern states (mainly on foot!) advertising and selling it, as well as a skin and hair care regimen known as the Walker Method.
Madam C.J. Walker was one of the earliest millionaires in the United States.
#2. Oprah Winfrey
The name of the television executive who told Oprah Winfrey she “didn’t have it” and would never be successful in broadcasting has been lost to history. Instead, she rose to become one of the most well-known media figures of all time. Her illustrious legacy includes astonishing amounts of financial assistance to educate and help young people.
#3. Moziah Bridges
Moziah Bridges founded Mo’s Bows when he was 9 years old in 2011. Today the teenage founder, president and creative director for Mo’s Bows (mosbowsmemphis.com) still handpicks the fabric used for goods, which have hit $700,000 in sales. The Shark Tank alum also creates all of the NBA teams’ neckties and bow ties. With the Go Mo! Summer Camp Fund for Memphis Children, he pays tribute to his Memphis origins.
#4. Mr. Cory Nieves
Mr. Cory’s Cookies was founded by this New Jersey entrepreneur when he was just six years old. Working with his mother Lisa, he was able to achieve amazing company growth. Their handcrafted delights are produced using all-natural, high-quality ingredients and are delivered to clients’ doors. He began with chocolate chip and expanded to include other unusual flavors.
#5. Mikaila Ulmer
Mikaila Ulmer was stung by a bee when she was four years old. The sting inspired her to research more about bees. Meanwhile, she learned about the Acton Children’s Business Fair and Austin (Texas) Lemonade Day, two children’s business competitions.
She decided to join, using a 1940s cookbook recipe for Flaxseed Lemonade from her “Great Granny” Helen. Mikaila modified the recipe by substituting local honey with sugar.
#6. Maya Penn
Maya Penn, Founder, and CEO of Sustainable Fashion Maya Penn’s eco-friendly apparel are produced from historic materials as well as 100% organic cotton, hemp, and bamboo fabrics. Maya’s ideas can be seen at Maya Penn – Sustainable Fashion (mayasideas.com). Penn, a global crusader for sustainability, is sought after as a speaker when she is not absorbed in materials and design with her company. She’s also published a book for kids and young adults called You Got This.
#7. Asmau Ahmed
Although it took her 8 years, Asmau Ahmed had the ideal background for making Plum Perfect. The Columbia University graduate (MBA Columbia Business School) is also a chemical engineer.
She created a customized online shopping experience for women of color. Customers first upload a selfie. Then, using a full administrative dashboard, Plum Perfect helps clients establish a unique color signature with recommended products based on the selfie and their answers to questions.
Top Business Ideas For Young Aspiring Entrepreneurs
Here, we will look at several ideas for young people who are just getting started as entrepreneurs.
#1. Photography
A photography business can be an excellent way for young entrepreneurs to get their feet wet.
They can provide portrait sessions, pet photography, and even newborn photography.
#2. Pet Grooming Service
A pet grooming business is another excellent business concept.
Services such as nail trimming, brushing, and bathing could fall under this category.
#3. Art Business
Many young kids have artistic abilities. They might establish an art lessons business teaching painting, drawing, or sculpture.
#4. Delivery Service
Starting a delivery service could be an excellent alternative for those who are naturally organized.
This could include delivering groceries, taking clothes to the cleaners, or delivering things to the post office.
#5. Gift Wrapping Service
During the holiday season, gift wrapping services is always in high demand.
Young entrepreneurs could establish gift-wrapping business and serve local businesses and individuals.
#6. Graphic Design Company
You can launch a graphic design company. Logos, visuals for websites, and even print material such as brochures and flyers could fall under this category.
#7. Tech Support
Provide technical support to local businesses and residents.
Setting up and maintaining computers, networks, and other electronic devices could fall under this category.
#8. House-Sitting Service
Begin a house-sitting service. While the homeowners are away, this could include caring for pets, watering plants, and bringing out the trash.
#9. Cleaning service.
Cleaning houses or businesses can be an excellent method to earn money on your own time.
#10. Craft Seller
If you’re skilled with arts and crafts, being a craft fair vendor is a terrific way to make some extra money on the side.
#11. Pet Walking Services
Provide dog walking services. This is a fantastic way to get some exercise while also earning money.
#12. Lawn Maintenance Services
Starting a lawn care service is another way for teenagers to supplement their income. They can provide basic services like mowing, edging, and weed-eating, or they can go all out and include services like leaf removal and fertilizer.
#13. Animal Photography
Another excellent option for teen entrepreneurs is to become a pet photographer. This type of business may be started on a shoestring price and does not require a lot of equipment.
Teens can take stunning photographs of dogs in their natural habitats or at significant occasions such as weddings and birthdays.
Young Entrepreneurs Organization (YEO)
The Young Entrepreneurs’ Organization (YEO) is likely the most well-known of several organizations that arose in the 1990s to provide educational opportunities and other types of support to young business entrepreneurs. Membership in such clubs has grown considerably in recent years, as an increasing number of young people have abandoned typical corporate career routes in favor of the additional autonomy and financial incentives that entrepreneurship may provide.
In 1987, YEO was created by five successful young entrepreneurs, including the founders of I Can’t Believe It’s Not Yogurt, the California Closet Company, and Redgate Communications Corporation. The organization’s name was later abbreviated to Entrepreneur’s Organization, or EO. In early 2006, the association featured 6,000 business owners from 40 different nations. In 2005, EO member companies generated more than $81 billion in revenue. The EO is governed by an international board of directors, which is in charge of the organization’s local community chapters.
The Purpose Of The Young Entrepreneurs Organization
The purpose is to provide mentoring, peer networking, and educational opportunities to its members. Individuals under the age of 40 who are the founders, co-founders, or majority shareholders of companies with annual revenues of more than $1 million are eligible for membership (special exceptions also exist for venture-backed firms). The annual membership cost is $1,300. Local chapters hold monthly meetings and host educational programs or talks on a regular basis.
Furthermore, the national organization frequently funds study excursions to other nations to learn about new business strategies, methodologies, and breakthroughs. Many chapters also provide “self-help” forums, where groups of 10 to 12 entrepreneurs from non-competing industries meet together to work on common issues faced by small business owners, such as hiring good staff or expanding internationally. Personal matters are sometimes discussed in these private, discreet spaces, which are moderated by qualified professionals.
Young Entrepreneurs Academy
The Young Entrepreneurs Academy (YEA!) is a revolutionary and exciting program that transforms local middle and high school kids into real, self-assured entrepreneurs. Kids from all local school districts are encouraged to apply, and educators are urged to recommend students who they believe would flourish in the program. Qualifying students can get full or partial scholarships.
The class is open to children in grades six through twelve (ages eleven to eighteen) from any local school system, and space is restricted.
Students will
- Learn how to construct a business that they are enthusiastic about, conduct market research, and develop a business plan during the course.
- Consult with business mentors and graphic designers one-on-one.
- Attend field trips to learn from local business owners.
- Pitch their ideas to an investor panel in the style of “Shark Tank” to win actual start-up cash.
- Legally register their company as a DBA.
- Participate in a trade show.
Graduates will have lifelong leadership and business capabilities.
Who Is The Youngest Entrepreneur At The Age Of 15?
Destiny Snow is an example of a teen who discovered her entrepreneurial spirit at a young age. She launched her SnowGlam Collection at the age of 15.
Who Is The Youngest Businesswoman?
Indian-American Neha Narkhede, the co-Founder of Confluent, a streaming data technology company, has been named the youngest businesswoman.
What Are The Top 10 Successful Businesses?
The top 10 successful businesses include:
- Social media management.
- Ecommerce
- Cleaning service.
- Virtual Assistant
- Business consulting.
- Copywriting.
- Graphic design.
- Real estate brokers.
- Online courses.
- Pet services.
In Conclusion,
The stories of these young entrepreneurs demonstrate that entrepreneurship is not a one-size-fits-all undertaking. It entails believing in the potential of ideas and pursuing them beyond the stages of ideation and concept development. These young entrepreneurs, who were inspired by family, academics, social trends, and events, all have one thing in common: they identified and capitalized on an opportunity. That is what entrepreneurship is all about.
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