Online entrepreneurship isn’t just for adults. Many children and teenagers have made six figures, even millions, online. While making millions isn’t always the result, children around the globe have found inspiration and real life lessons in becoming entrepreneurs.
From starting social networking sites, ad networks, information products or by offering a product or a service, kids can become successful business owners. Here are just a few examples of what they can accomplish.
Diane Keng was a senior at Monta Vista High School, when at the age of eighteen she’s launched her third internet start-up, MyWeboo.com. It’s designed to help teens manage their digital lives and social-network identities in one place.
Gurbaksh Chahal started an online ad company, Click Agents, when he was sixteen, and sold it for $40 million two years later. He then founded the ad network BlueLithium – which he then sold for a reported $300 million when he was twenty-five.
Adam Horwitz launched Mobile Monopoly at the age of eighteen. It’s an online mobile marketing training course and it earned a reported $1.5 million in its first three days.
Catherine Cook and her brother David started a social networking site, myYearbook.com, while they were still in high school. They now have more than 20 million members and a reported 20 million in annual revenue.
Tessa Smolinski started her business at the young age of twelve. Motivated to find a solution to long hair during soccer games, she created pre-wrap.com. She sold colorful athletic wrap designed to be used as a hair wrap. The wrap was made of soft, thin material designed for athletic trainers as a buffer between skin and sticky athletic tape. She sold the tape in twelve different colors and shipped to countries around the world. Her original goal of making $20 a week has been surpassed and she’s saved up a large chunk of her college education before her 16th birthday.
Business can be a learning experience for a child. It can be a way to solve a problem or fill a need. It can also be a very good way to make money. Owning your own business as a child is tough, and parental guidance is certainly required. However, online business is also a good way to balance work and school. If your child has expressed an interest in becoming an entrepreneur, ask how you can help. They may become the next teen millionaire.