Micro Business for Teens: Starting a Micro Business

WorkshopPresenter Carol Topp, CPA

What is a Micro Business?

Simple and fast start-up

One owner

Little start-up money

Low risk

What is a Micro Business?

Manageable

Home based

Easy to close down

Purpose to learn and earn

Advantages

Learn a lot

Business, writing, math and speaking skills

Money and time management

Confidence

Test a future career

Make money

Getting an Idea

Fill a needConsider

skills, abilities, interests

Getting an Idea

Use others’ ideas

Services

cake-popscandycake-decoratingcrafts candlesShoesskirtsdigital-photoscostumescooksebooksCDsappsdoggie-treatstoys

Products

Exercise: Page 2Think of needs you see

List your skills, interests, talents, etc.

Brainstorm a business idea

List 5 good business ideas

Make a PlanConcept

The product or service How to measure success

Marketing Potential CustomersThe competitionHow you will stand out

Financial CostPrice to customers

Example: Emily's Piano LessonsConcept

Service: Piano lessonsMeasure Success: 5 students & experience

Marketing Potential Customers: Beginning studentsCompetition: Experienced teachersUniqueness: Charge half the competition

Financial Cost: Books, rewards $25/yearPrice to customer: Price $8 per 30 minute lesson

Exercise: Pages 3 and 4 Create a Business Plan

Fill in the Concept portionFill in the Marketing portionStart the Financial portion

Mini Market Survey: Page 3

Sales Presentation

• Briefly describe your product or service• 2-3 main benefits• Tag line• Price• Contact information• Call to action

“Do you dream of becoming a Jedi knight?”Price $50-$75Brochure with phone & email“Give me a call to book your party!”

Exercise: page 5

Write a tag lineWrite up a sales presentationGive your sales presentation to someone

MicroBusinessForTeens.com

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