Sarah Hernholm’s Top 5 Questions for Young Entrepreneurs
Teen entrepreneurship is booming! More young people than ever are turning their ideas into businesses. 66% of teens plan to start their ventures as adults. Colleges are paying attention too, entrepreneurial experience now boosts admissions chances.
But before diving in, young founders need to ask themselves a few key questions. At WIT (Whatever It Takes), Sarah Hernholm has helped over 10,000 teen entrepreneurs build successful businesses since 2009. She shares the five most important questions to consider before launching a business or passion project.
Sarah Hernholm’s First Question: What Problem Am I Passionate About?
The best businesses solve real problems, ones that truly matter to the founder. Forget trends or what looks good on college applications. A strong connection to the problem keeps entrepreneurs going when challenges arise.
Example: A teen who cares about sustainability could launch a fashion brand that upcycles second-hand clothes. This business isn’t just about making money, it’s about making a difference.
What Skills Do I Have, and What Do I Need to Learn?
Many teens underestimate their own abilities. The truth? They already have valuable skills! The key is identifying strengths and pinpointing areas for growth.
With 30% of teen entrepreneurs diving into tech businesses, digital skills are a major asset. But every business is different. A photography venture requires creative and editing skills, while an online shop might need social media marketing know-how.
Example: A teen with an eye for photography could start a portrait business using just a smartphone. They may need to learn pricing strategies and client management, but they’re already halfway there!
How Will This Fit Into My Schedule?
Balancing school, extracurriculars, and a business takes planning. Entrepreneurs who map out their time in advance avoid burnout.
Social media plays a massive role, 60% of teen entrepreneurs say it’s crucial to their success. But posting content, engaging with customers, and managing orders take time. A well-structured schedule makes it all possible.
Example: A teen launching a YouTube channel could plan weekly videos instead of daily ones. Filming on weekends leaves room for schoolwork during the week.
Who Can Support and Guide Me?
Even the most independent entrepreneurs need a support system. Finding mentors, advisors, or even peers makes a huge difference.
Most teen businesses are self-funded (only 4% receive outside funding), so financial advice is key. Groups like WIT and entrepreneur meetups guide without the need for investment.
Example: A teen running a small lawn care business could ask a local entrepreneur for tips on pricing and budgeting. Small insights can lead to big improvements!
What Does Success Look Like Beyond Money?
Sure, making money is great, but real success comes from impact. Some entrepreneurs want to build leadership skills, help their communities, or create change.
For young female founders, success often means breaking barriers. Nearly 60% of teen entrepreneurs are female, proving that young women are shaping the future of business.
Example: A teen tutoring students could measure success by how much their clients’ grades improve. Seeing real progress can be more rewarding than a paycheck.
Ready to Start? Take These First Steps
- Create a simple one-page business plan. Outline the problem, solution, and target audience.
- Build a minimum viable product. Launch a basic version of the business to test the idea.
- Find three initial customers. The first users provide crucial feedback.
- Set a work schedule. Consistency matters more than long hours.
- Join a business community. Connect with like-minded entrepreneurs for support.
Final Thought: Start Now With What You Have
There’s no such thing as the perfect time. The best way to start? Just do it. Asking these five questions helps teens build businesses that matter while gaining skills that last a lifetime.
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