5 Tips for the Teenage Entrepreneur
Seeing the children in my Kids Program at Alumni hustle their tails off during the week to get sales, make connections and improve their business … it brought the biggest joy to my heart.
Teaching our children financial literacy should be a top priority & I love seeing it in action like that. Thank you again to Jen Jedow from Jedow Interactive for teaching the Kids Program throughout the conference.
Since I’m in such a “kid-y” kind of mood, here are 5 tips for your young ones on how to get on the road to achieving financial freedom.
This advice is geared for teenagers to early adults, so share this with those youngsters in your family!
1) Don’t Start from Scratch. A lot of people think being an entrepreneur means coming up with something totally new. False. What you need to do is find someone who is doing what you want to do and model them every day. How do they market? How do they sell? Why are they successful? Ask these things and create your own model off of their model. No need to reinvent anything. Refreshen and refine the idea.
2) Be an Annoying Little Brother or Sister. If you have a younger sibling, you know what I mean by “annoying.” They always follow you everywhere. Well, you need to be exactly that to someone you look up to. You’ve got to get a mentor. You have got to get somebody in your life playing a bigger and better game. If you’re not a millionaire, get with a millionaire. If you’re worth a million, you get somebody worth $5 million. Your job is to find somebody who is doing what you want to do and model them every day. Get in deep with the circles you want to hang with.
3) Run Away! The biggest mistake younger generations make when it comes to money is entitlement. There’s a lack of competition. There’s a lack of entitlement. Kids are living at home with parents until age 26 or 28. They’re over-educated and keep going back to school and back to school as opposed to getting mentors and getting on the street and becoming entrepreneurs with people that have already been there. Young people, you need to leave home, start new and take risks.
4) Spend Smart. You’ll notice that I didn’t say “save smart.” First of all, “saving” isn’t what millionaires do. They spend properly and invest properly. Get out of the “saving” mindset. Think about how much you would have to save to reach a million. Crazy, right. So be smart with your money and allocate it where it will bring you the most results. Don’t overspend on your lifestyle. Keep your spending business-invested.
5) Beat People up…With Your Energy! When you get into the habit of saying “YES!” all the time, your energy becomes so forceful that nothing can stop it. This “YES!” energy always wins. People who have “No” energy are the excuse-makers, the storytellers, the people who say “But I can’t…” Enough of that. No time for that. I guarantee you the strongest energy in the room will always win.
