Setting Personal Business Goals
setting personal business goals
Ideas for teens to raise money?
My mom told me that if I want to take ballet this year I have to pay for it myself. It costs $575.00 and I really want to do it. I just know that I would be devastated if I couldn’t take ballet this year. I also want to take voice lessons, and It would be good to reach $300.00 to pay for some lesons. These are, I think, my top two goals for this upcoming schoolyear, and I have 3 months to raise $875.00, and ideally, more, because I am interested in other dance opportunities. I believe this is not completely impossible, and that if I work hard enough I can earn it, and I am willing to work all summer, but I need ideas! Here are the ideas I have come up with so far:
-Car Wash with my friend Shelby
-Sell some things on Ebay
-post fliers advertising a “Local Computer Consultant” because I’m pretty good with computers, and I could maybe do some things like set up computers, download software, etc, etc.
-design small business or personal websites
That’s all I have. any ideas?
The ideas you have are good ones if they match your interests. There’s nothing worse than taking on a business venture you don’t like doing. Make sure if you take on a partner that you have everything written out (written not verbal) of who pays for what, how to split profits, and the other considerations of a partnership. You may be thinking of only making $875 over the summer but you are going to have to double that to compensate your friend and arrange for the costs of supplies (bucket, sponges, soap, wax, vacuum cleaner, etc) for the car wash idea and other marketing costs for the web/computer business startup costs if you go on your own. Be very careful of lawsuits because whatever you do for money subjects you to legal issues that you may not be thinking of. You might want to consider a legitimate business with a business license, tax id, business insurance, etc. The good news is that if you go with a legal business paying and collecting taxes, you get sweet tax writeoffs. Don’t just assume that customers are going to flock to your business without targeting the right customers. You will have to work at attracting customers and at getting solid referrals to others who want and need the products or services that you provide. I am not being negative here. There’s alot to business and other than going legal I suggest a business plan, no matter how formal or informal. The water you will use for your car wash is not going to fall from heaven (or maybe it will) so plan for the costs that are required. Do not give up on your venture ideas thinking it’s too hard … you have to start in order to reach your goals. Just make 100% sure you will stay in whatever you do longer than a week or two which is another reason why it’s very important to do what you love and love what you do. Find a need and fill it. Network with others who you can help and those who can help you. Business is a legal proposition so start reading today on accounting and legal issues surrounding your business and be known as the “go to” person for what you do. Get licensed. Being young does not excuse you from being legal. Get to the library for books on startup. Call your City Hall for information on permits. Register with the IRS and your state taxing authorities. Do something TODAY so you can start earning profits quickly.
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