5) Raise Start-up Money. The teens may need capital to get started. Help them create a one-page description of their idea and begin to share it with friends and relatives. Most concepts should require less than $500 to get started. Encourage them to find 5 people to invest $100 each and offer a promissory note that pays 10 percent interest in six months. Seeking investors may be the least glamorous task but this will determine if they are serious about making money this summer.
6) Events Are Hot! People enjoy going places during the summer. Maybe your teen business owners could work with an organization to promote a trip. Make sure they have at least six weeks to promote the event.
7) Internet Money is the Best Money. Billions are spent online each year. Teens could use eBay to list a neighbors items and take a commission on each sale. CreateSpace can be used to sell books, CDs and DVDs on-demand with no initial investment. Do you have an idea for a design or saying? Then CafePress are Zazzle is the places to create custom t-shirts, posters, bags and etc. without paying a penny.
More BlackEnterprise.com posts on youth entrepreneurship
Andrew Morrison is the President of Small Business Camp. The company provides high-impact marketing strategies for entrepreneurs, executives and non-profit leaders. Andrew has as trained thousands of entrepreneurs from Hawaii to Nigeria and appeared on Oprah. Visit http://smallbusinesscamp.com/ to receive his no-cost report entitled, “Identifying and Growing Any Business Idea in 16 Weeks.” Follow Andrew Morrison on Twitter.