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Starting up a business is something that many people dream of. Even teenagers can have a go at this. The key is not to have a lot of start-up cash, but to come up with an innovative business idea. This is just what Jason Li did. At the age of 15, Jason Li started a business based on the idea of making good use of electronics which had become obsolete. It occurred to him that it was a pity that electronic items which he did not use anymore, were just lying there unused. In this day and age people are constantly updating their cell phones, tablets and other electronic gadgets. Continuous improvements and advancements tend to persuade people to choose a new model so as to benefit from improved capabilities. However, this leads to more waste. Jason Li felt that something could be done in this regard.
His intention was to contribute to waste management, while also make some money. This led Jason Li to launch his business, iReTron, back in July 2011. Basically, Li pays people for electronic gadgets that they no longer want or need. He sort of buys them, and one can say that these are his business’s stocks. Then, he refurbishes them and sells them again.
Most people love to upgrade their cellphone or iPod. But in most cases they do not know what to do with the older model. By selling them to iReTron they not only earn money, but also contribute a bit towards the environment. Every little bit helps after all. Each phone sold to iReTron is one saved from the dump.
Earlier this year, in March, Li won $4000 in cash and a trip to attend the TEDxTeen Conference in New York, after having been named VerticalResponse’s Next Teen Tycoon. Li found out about this competition through Twitter. Another two young entrepreneurs were proclaimed winners of this competition which aims to promote business ideas for teenagers. It is surely a way to reward their innovative ideas and entrepreneurial skills.
As the CEO of VerticalResponse, Janine Popick commented, these young entrepreneurs should be encouraged and helped to expand their business. In fact VerticalResponse tries to find such creative teenagers so as to assist them in their ventures. Popick commented about the fact that she admires their willpower and innovation, especially since they are still so young.
The competition encouraged the public to submit their votes for more than 40 videos submitted by the young entrepreneurs. Afterwards, a panel of judges chose the winners from the top ten participants.
Another young sixteen year old entrpreneur, Jack Uesugi founded his company a1000x. Uesugi came second in the VerticalResponse competition. The business is intended to help artists get more exposure for their work.
Uesugi said that his inspiration came after he visited an art event. While viewing the art exhibits he realized that all these artists were barely known, yet their work was exquisite. He then came up with the idea of selling shirts online featuring the artistic creations of young artists.
At the moment Uesugi is already working with fifteen artists, while working hard to find several other partnerships for the future.
Although starting up a business while you are still a teenager is hard, you should never give up. There are so many different business ideas for teenagers that could be put into practice. Jack Uesugi commented about the fact that he feared people would not take him seriously when he approached them to make business. He feared that his young age could make him sound and look less credible and trustworthy. But in time he got used to dealing with older people. All one needs is perseverance and courage.
There was actually a tie for the second place in the VerticalResponse competition. Besides a1000x, another company came second. StudioVictus is a multimedia company founded by four teenagers; Joshua Stoker, Austin Bergeron, Matt Duhe and Joe Solito. They are all aged 17 to 18. StudioVictus was founded in November 2011 and offers various services, including web design, presentations, IEO production and photography. The four young entrepreneurs got to know about the VerticalResponse competition through their high school and decided to take part in it. By placing second they won $2000 in seed money. Now they are considering registering their business as an LLC. They are also planning to invest in more advanced equipment to offer even better services.
As one of these young businessmen said, the key to success is to be determined. Some ventures and tasks may seem complicated and unachievable. However, if one remains determined and strong-minded, he or she is bound to succeed.
In this day and age it is also very important to make best use of networking when running a business. Young entrepreneurs can be as successful as older businessmen, and they should never feel inferior simply because they are younger. After all if one fails at something at a young age there is plenty of time to improve upon that particular mistake and learn through trial and error.
Little by little one will surely manage to succeed as long as he remains determined, focused and purposeful. We outlined three successful teen businesses. But there are several other business ideas for teenagers out there that could be profitable and rewarding.