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GETTING STARTED IN BUSINESS AT AN EARLY AGE

Are you an adolescent who wants to launch a business? You can realize your dreams if you put a little effort and determination into them. Starting a business is complex, and you might not know where to begin. But don’t worry; you’ll soon be on your way with some assistance. You’ll learn from research how to come up with ideas, and carry out your plan.

Mins to Read: 8 to 10 minutes

Age Bracket: 15 – 23 years old

You want your new business to be successful when you first launch it. However, it happens frequently for new business owners, regardless of age, to become hooked on a venture that isn’t viable. You probably won’t have the knowledge or the time to create the newest technological advancement as a teenager. Instead, to increase your chances of business success, choose a concept that you are confident you can implement—from the initial development of the product or service to its marketing to your confidence that there are enough people in your area who could profit from your venture. Here are some ideas to help you out:

Sell books

Students often have accumulated a bunch of books that vary in the genre throughout childhood and teen. You might consider selling books in the Philippines as a great way to generate passive income and exceptional cash flow. But if you’re starting book sales, you might wonder, “How!?” How to promote and market your book in the Philippines.

Two of the biggest online stores in the Philippines are Lazada and Shopee. Thus, using these services to market and sell your book in the Philippines presents a particular benefit. Although these platforms expose you to a sizable audience and may be successful when all the figures are tallied up, selling books and other things may reveal that the fees are very hefty.

Another excellent alternative for students wishing to market their pre-loved books in the Philippines is social networking. For instance, several people in the Philippines advertise their products on their profiles or in groups to increase sales. You can earn as low as Php 500 per book and this varies depending on the book and its cover whether paper-bound or hard-bound.

Sell Ukay-ukay Things

If you have enough stuff that you don’t use frequently, or you don’t see yourself reaching for those clothes, accessories, bags, and shoes that are still in excellent condition, selling used products in the Philippines can even be converted into a small business!

There are numerous other ways that people can sell their pre-loved stuff besides holding a garage sale, such as internet selling if you’re looking for simple ways to get rid of those used items. If you prefer to sell your used stuff online, you can go to the following websites:

Carousell, formerly known as OLX, is an online marketplace that links businesses and customers. People can connect on this platform by buying and selling new and used goods online. You can make a listing by uploading one or more images of your things and entering the requested information on the website or mobile app. To arrange for payment and delivery, sellers can also contact their customers. For ease of purchasing, the items on Carousell are divided into categories such as fashion, home and lifestyle, games and gadgets, and even properties.
Shopee makes it simple for you to create your own store and upload ready-to-sell items. In addition to being a platform for selling brand-new goods, it also permits the sale of used goods, provided that vendors can provide relevant details like the item’s condition. This online marketplace offers simple means of connecting with potential clients because of its robust web presence and reach. Sellers can register for a Shopee account, list their used goods there, and include information about each item, including its name, description, category, price, condition, and shipping costs. You may also link your Instagram store to their Shopee account for greater exposure.

Posting a listing on social media is probably one of the simplest ways to recoup your investment in used goods. Users utilize social media platforms like Facebook and Instagram to advertise various goods to their friends and acquaintances. For instance, Facebook features a marketplace where buyers and sellers can trade goods. Suppose you want to sell something on Facebook. In that case, you can make a public listing visible to everyone on and off the site, including visitors to Marketplace, News Feed, Facebook search, Facebook groups, and other online directories. With Instagram, you can set up a page or account just for your used products so that you can quickly submit pictures and connect with possible customers. You can as low as Php 1,000.

Sell hand-crafted Materials

Any craft you can think of, you can sell it. Find things you enjoy crafting, constructing, and creating that can be helpful.

However, many crafts can be started with little prior knowledge or natural artistic talent. Let’s get crafting if you’re seeking a pastime you can make money from! Anyone can frequently create and market crafts from home with minimal financial outlay.

Making crafts and other DIY projects can be almost meditative, giving your brain a chance to unplug and recharge. In addition to enhancing your mood and lowering tension and anxiety, making something from scratch gives you a sense of success.

Additionally, pursuing your imagination can give you a business idea. Once you’ve discovered and mastered your talent, you may supplement your income by creating handmade things in your leisure time and selling them. You can start with:

Textile Dyeing

In 2019, tie-dye cycled back in favor (again), and it’s still going strong. It can be found in the collections of fashion retailers on anything from sneakers to lingerie. Tie-dyed products are simple to create and sell from home, requiring little equipment and knowledge. Depending on your level of sewing ability, you can purchase and dye bulk blank t-shirts or tie-dye cloth to create one-of-a-kind goods. Try the fashionable technique of resist-dying with natural indigo dye, known as traditional Japanese shibori. Both synthetic and natural fabric dyes can be bought commercially. Additionally, you can experiment with creating your colors from pantry staples like avocado skins, turmeric, or teas.

Clay Pots

At the start of the pandemic, the population of plant parents exploded, and businesses that sell plants and plant accessories reaped the rewards. Furthermore, since plant maintenance requires a long-term investment, ancillary firms will profit for many years. Due to the requirement for specialized ovens (referred to as kilns) to burn the clay, there is frequently a more significant entry barrier for pottery. Although they are sometimes too expensive and limited in capacity, you can typically find community centers or clay studios that rent out kiln time. Plant pots that resemble pottery can also be created using cement or air clay and poured into molds without needing to be fired. Learn how to work with clay and gain access to a kiln by enrolling in a pottery workshop or class. Through this, you can earn at least Php 5,000 depending on the size of the pots you sell.

Tote Bags

With alternatives for every level of creativity and experience, this is one of our list’s most adaptable craft ideas. Blank cotton tote bags can be purchased for a bargain price and then customized using silkscreening, beading, hand painting, textile dyeing, or embroidery. For more experienced sewers, please create your tote bag pattern and sew it from scratch. Add pockets, closures, and other elements to make it uniquely yours. Make a useable tote bag out of vintage clothing or fabric as a sustainable alternative. Consumer preferences are continuing to lean toward companies with a focus on sustainability. You can earn a profit as low as Php 10,000 with continuous production.

Milktea Business

Enjoy milk tea? You can now operate a milk tea business from the comfort of your home. The popularity of milk tea is fantastic because it is enjoyed all year round. And when they’re hungry or thirsty or both, Filipinos find it difficult to resist a wonderful and cooling milk tea!

Numerous internet vendors sell milk tea company packages that include all necessary tools, materials, and utensils. You can open a storefront at home or construct a mobile stand or cart. Accept orders online and provide delivery and pickup choices. The size and scope of your milk tea business determine this. You can earn Php 5,000 weekly.

YouTuber

Are you into content creation and editing? Usually, it takes between 30 and 60 minutes to shoot a typical video, plus there is editing and posting. Therefore, a specific video could take up to two or three hours. It usually depends on the type and duration of the video, and this time may substantially increase or decrease.

Use a smartphone capable of high-resolution video recording to vlog, produce engaging content, and post videos to websites like YouTube, Instagram, or your blog. You can write about whatever you’re enthusiastic about, such as humor, sports, or travel. You might also wish to create cosmetic tutorials, advice for other mothers, or whatever else you believe is worthwhile.

Utilizing YouTube as a marketing tool is the best method to monetize the platform. One option to monetize YouTube in the Philippines is through Google advertising, which is relied upon by many YouTubers. Create a Google Adsense account and start making money from adverts on your videos to make money from vlogging. Sending people to your website, a product you are selling, or on which you are receiving commission would be a much better strategy. By doing this, you optimize your income sources. This depends on other factors such as your views, per video, you can earn as much as $2,000

Frequently Asked Questions

Do you have what it takes to be a business owner at such a young age?

The most valuable thing you will have is going to be yourself. Thus it’s critical to objectively assess your strengths and limitations. Answer the following questions about yourself to find out if you are ready: Am I a self-starter? How well can I get along with different types of people? How capable of decision-making am I? Do I have the mental and emotional fortitude necessary to manage a business? How effectively do I arrange and plan? Am I ready to go on a trip? Are my motivational attitudes and drives powerful enough? What impact will the company have on me?

What is a business plan?

A business plan serves as the CV for your business and accurately describes your venture. Among its fundamental elements are a market analysis, a marketing/promotional strategy, a current balance sheet, an income statement, and a cash flow analysis. It aids in making wise judgments, managing unforeseen difficulties, and resource allocation. An effective business plan is essential to any loan package since it offers detailed and organized information about your firm and how you will return borrowed money. It can also communicate your operations and objectives to your sales team, suppliers, and others.