LIFE

Motivated to start a business? It's a great way for teens to earn income and, if things go well, you'll be well on your way to millionaire-land. Every business sells either a product or a service, and so will you. What's something you enjoy doing, are passionate about or are really good at? With a little planning and perseverance, you can turn this into a business.

· Love beauty? Create video tutorials on YouTube. If you get enough viewers, you can earn income from advertisers.
· Care about animals? Knit sweaters for dogs and give some of the proceeds to a local animal shelter.
· Naturally tidy? Offer to reorganize basements or attics.
· Love baking? Sell pies based on your Grandma's secret receipt.

Once you've come up with your money-making idea, think about who's most likely to buy your product or service. These people are called your 'target market'. This is who you want to focus your selling efforts on. You wouldn't sell mittens to folks who live in Florida, would you?

No matter what you decide, think of how to make your idea unique and fun for your customers. Maybe your packaging is impressive, or you include a dog treat with your doggie sweater or offer 2 rooms-for-1 organizing to get business rolling. Think outside the box and be creative. You have nothing to lose!

TRY THIS

Ready to become an entrepreneur? The possibilities are endless! Make a list of all the things you are good at doing. Beside that, make another list at the things you are passionate about. Then start cross-referencing those two lists to start brainstorming ways to turn your skills and passion into a money-making idea.

Follow our Financial Literacy Month series to get financially fit in just 30 days.

James McKenna and Jeannine Glista are the co-creators of Biz Kid$, a national financial education initiative based on the award-winning public TV series. They also are the authors of the seriously smart new book How to Turn $100 into $1,000,000 (out this month from Workman Publishing, $13), which outlines in detail every step you need to take to make your million.

by GL | 4/15/2016