Mind Your Own Business Start it... Grow it... Own it! Putting Your Business Ideas to Work The U.S....

Mind Your Own BusinessMind Your Own BusinessStart it . . . Grow it . . . Own it!Start it . . . Grow it . . . Own it!

Putting Your Business Ideas to WorkPutting Your Business Ideas to Work

The U.S. Small Business Administration and JA WorldwideThe U.S. Small Business Administration and JA Worldwide

U.S. Small Business Administration and JA WorldwideU.S. Small Business Administration and JA Worldwide

What’s theWhat’s the BIG BIG IDEAIDEABusinesses Started by Young EntrepreneursBusinesses Started by Young Entrepreneurs

The idea:The idea:

From the mind of:From the mind of:

The business:The business:

Computer software for Computer software for home and officehome and office

Bill GatesBill Gates

Microsoft, 1975Microsoft, 1975

U.S. Small Business Administration and JA WorldwideU.S. Small Business Administration and JA Worldwide

BIG BIG IDEAIDEA

The number of businesses started byThe number of businesses started byyoung entrepreneurs might surprise you. young entrepreneurs might surprise you.

Throughout this presentation Throughout this presentation you will find big ideas from you will find big ideas from

young entrepreneurs like you.young entrepreneurs like you.

U.S. Small Business Administration and JA WorldwideU.S. Small Business Administration and JA Worldwide

What’s theWhat’s the BIG BIG IDEAIDEABusinesses Started by Young EntrepreneursBusinesses Started by Young Entrepreneurs

The idea:The idea:

From the minds of:From the minds of:

The business:The business:

Online shoe salesOnline shoe sales

Tony HsiehTony Hsieh

Nick SwinmurnNick Swinmurn

Zappos.com, 1999Zappos.com, 1999

U.S. Small Business Administration and JA WorldwideU.S. Small Business Administration and JA Worldwide

Teens Mean Business

Creativity Initiative Hard work Success

Welcome to the worldof small business ownership!

U.S. Small Business Administration and JA WorldwideU.S. Small Business Administration and JA Worldwide

What’s theWhat’s the BIG BIG IDEAIDEABusinesses Started by Young EntrepreneursBusinesses Started by Young Entrepreneurs

The idea:The idea:

From the mind of:From the mind of:

The business:The business:

A record label for rap musicA record label for rap music

Russell SimmonsRussell Simmons

Def Jam Records, 1984Def Jam Records, 1984

U.S. Small Business Administration and JA WorldwideU.S. Small Business Administration and JA Worldwide

Mind Your Own Business www.mindyourownbiz.org

Teens’ online resource to plan, start, and run a business

Created by JA Worldwide and theU.S. Small Business Administration

Launched September 13, 2005

U.S. Small Business Administration and JA WorldwideU.S. Small Business Administration and JA Worldwide

What’s theWhat’s the BIG BIG IDEAIDEABusinesses Started by Young EntrepreneursBusinesses Started by Young Entrepreneurs

The idea:The idea:

From the mind of:From the mind of:

The business:The business:

Cookies from scratchCookies from scratch

Debbie Fields,Debbie Fields,

a.k.a., Mrs. Fieldsa.k.a., Mrs. Fields

Mrs. Fields CookiesMrs. Fields Cookies

U.S. Small Business Administration and JA WorldwideU.S. Small Business Administration and JA Worldwide

5 Key Areas of AchievementExplore - Plan your career as entrepreneur

Succeed – Online success stories aboutteen entrepreneurs

Connect – The importance of networking

Build – Tips on business organization, money management and creating a business image

Decide – Get help with the crucial businessplanning stages

U.S. Small Business Administration and JA WorldwideU.S. Small Business Administration and JA Worldwide

What’s theWhat’s the BIG BIG IDEAIDEABusinesses Started by Young EntrepreneursBusinesses Started by Young Entrepreneurs

The idea:The idea:

From the mind of:From the mind of:

The business:The business:

Cosmetics for the Cosmetics for the Latina complexionLatina complexion

Monica RamirezMonica Ramirez

Zalia Cosmetics, 2001Zalia Cosmetics, 2001

U.S. Small Business Administration and JA WorldwideU.S. Small Business Administration and JA Worldwide

EXPLORE…what if?So you want to run your own small business…be your own boss?

These are the seeds of entrepreneurship of whichevery successful business begins.

Your first steps: Understand and know yourself – what kind of entrepreneur are you? What are your interests? What is most fun for you? How do you like to spend your time? How hard are you willing to work?

U.S. Small Business Administration and JA WorldwideU.S. Small Business Administration and JA Worldwide

What’s theWhat’s the BIG BIG IDEAIDEABusinesses Started by Young EntrepreneursBusinesses Started by Young Entrepreneurs

The idea:The idea:

From the minds of:From the minds of:

The business:The business:

Organize information Organize information on the Webon the Web

Segey BrinSegey BrinLarry PageLarry Page

Google, 1998Google, 1998

U.S. Small Business Administration and JA WorldwideU.S. Small Business Administration and JA Worldwide

Decide…now what?

You decide that you have what it takes!

Constantly innovate

Are committed to serving their customers

Understand their strengths and weaknesses

Are realistic and well researchedAre realistic and well researched

Have a clear sense of purpose and understand their product or service

Businesses succeed because they:

U.S. Small Business Administration and JA WorldwideU.S. Small Business Administration and JA Worldwide

What’s theWhat’s the BIG BIG IDEAIDEABusinesses Started by Young EntrepreneursBusinesses Started by Young Entrepreneurs

The idea:The idea:

From the mind of:From the mind of:

The business:The business:

Nail polish in that perfectNail polish in that perfectshade of blueshade of blue

Dineh MojajerDineh Mojajer

Hard Candy, 1995Hard Candy, 1995

U.S. Small Business Administration and JA WorldwideU.S. Small Business Administration and JA Worldwide

Build…make it happen

Make it legal Research and select the right legal structure Name your business and product

Create your image Have a good strategy

Mange your money Where will your money come from? What profit do you expect?

Organize it How will your business get things done? Who does what?

U.S. Small Business Administration and JA WorldwideU.S. Small Business Administration and JA Worldwide

What’s theWhat’s the BIG BIG IDEAIDEABusinesses Started by Young EntrepreneursBusinesses Started by Young Entrepreneurs

The idea:The idea:

From the mind of:From the mind of:

The business:The business:

African-American cable African-American cable television networktelevision network

Robert L. JohnsonRobert L. Johnson

Black Entertainment TelevisionBlack Entertainment Television(BET), 1980(BET), 1980

U.S. Small Business Administration and JA WorldwideU.S. Small Business Administration and JA Worldwide

Connect…develop your network

Successful entrepreneurs have a variety of people to help them get ahead: mentors, coaches and friends

Get advice. Stay connected. Listen.

Join business organizations and clubs to learn how others succeed

U.S. Small Business Administration and JA WorldwideU.S. Small Business Administration and JA Worldwide

What’s theWhat’s the BIG BIG IDEAIDEABusinesses Started by Young EntrepreneursBusinesses Started by Young Entrepreneurs

The idea:The idea:

From the mind of:From the mind of:

The business:The business:

No sweat athletic gearNo sweat athletic gear

Kevin PlankKevin Plank

Under Armour, 1996Under Armour, 1996

U.S. Small Business Administration and JA WorldwideU.S. Small Business Administration and JA Worldwide

Succeed…manage for success

Good business is about good life skillsSet goalsTake actionAsk for helpListen to good adviceFollow-up with peopleWork to exceed expectations

U.S. Small Business Administration and JA WorldwideU.S. Small Business Administration and JA Worldwide

What’s theWhat’s the BIG BIG IDEAIDEABusinesses Started by Young EntrepreneursBusinesses Started by Young Entrepreneurs

The idea:The idea:

From the mind of:From the mind of:

The business:The business:

Custom-built computers Custom-built computers direct to the customerdirect to the customer

Michael DellMichael Dell

Dell Computers, 1984Dell Computers, 1984

U.S. Small Business Administration and JA WorldwideU.S. Small Business Administration and JA Worldwide

What’s theWhat’s the

BIG BIG IDEAIDEA

Get started!Get started!

U.S. Small Business Administration and JA WorldwideU.S. Small Business Administration and JA Worldwide

Want to Know More?

Visit:www.mindyourownbiz.orgwww.sba.gov/teenswww.ja.org

Or find your local SBA district office1-800-U Ask SBA (1-800-827-5722)