15 Great Ventures to Start (1)

 15 Great Ventures to Start (1), Sverre Steensen, Upstart Garage Media, 2021

Part of a series, this book looks at opportunities for young entrepreneurs.

First, find a problem that needs to be solved. It can be a yearly problem, like something to do with Christmas, or a more frequent problem. How will your product or service solve that problem? Gather family or friends together to brainstorm ideas. At this stage, no idea is too weird or too stupid. Come up with a cool name for your company. Later, when it becomes successful, you might have to officially register it. Define your market: your neighborhood, your town or online. How much will you charge for your product or service? Do you want to get paid after each sale, or once a month? If you get paid once a month, liquidity problems could crop up before the end of the month.

There is a lot to consider before starting your business. This book includes specific business ideas, like starting a used toy store, a homework service, a birthday service, an import business, a babysitting business or a tech help business. For each idea, the author includes the difficulty, the success probability, the fun factor and the millionaire potential. Needless to say, running any business idea past your parents, ahead of time, is a very good idea.

This is an excellent book. It presents business ideas for any teen, and it does not ignore the hard work needed to make it a success. This book could easily inspire the next Elon Musk or Jeff Bezos. Highly recommended.