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What can I do to make money?

Hello! I have been thinking and got an idea to sell something for some money. I am not sure what I would like to sell or do to make some money. If there is any ideas that you guys have, please let me know and any tips that you guys can give me that would be great! Just to remind you guys, I am 16 years old, so this is new to me. But, please let me know what I can do to start making a bit of money. Thank you!!
#money #business #finance

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Chris’s Answer

Great to have the kind of entrepreneurial spirit at your age, that you want to go out and start making money. You may be the person who creates an amazing idea straight away that you can sell, or it could be that you just use this as an opportunity to earn some money and learn some new skills.

It's difficult to answer with anything specific, but

Best advise I can give is to balance between the following:

1. Do you have any specific things that you are good at? For example, are you creative and could make crafts that could be sold (could be birthday cards for example). Are you handy? - you don't have to sell product, but rather a service (gardening, decorating, car washing, etc..). Technical - could you provide some IT help to those who ? etc.. Could you offer to help clear somebodies house and sell what you find on eBay?

2. Take a look around your neighbourhood to start with and work out what there is demand for, compared to supply of and try and work out a way of filling the gap. If it's hot, people need drinks (buy a few bottles and sell them in the park / make some lemonade). If it's snowing, driveways need clearing. Ask those around you what they need.

Get started with something small and then think about how you could make it bigger.
Thank you comment icon I agree with Chris. It's best to take some time to think about and identify your personal gifts, unique abilities and interests. Once you identify 2-3 strong ideas, share those with a trusted friend/s, parent, teacher and get their opinions. Then build from here. becky johnson
Thank you comment icon Thank you for tips and advice! Salma
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Anoosheh (Anna)’s Answer

Maybe babysitting and tutoring in a subject you are good at.
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Jack’s Answer

One of the first decisions is whether you're going to sell a product (something physical) or a service (use a skill to help someone else do something). If you have a general idea of what you want to sell, look at alternatives in the market and see if they're missing something that you can provide, or if you can do it better / cheaper than what's available. Do some tests with people you know who can give you honest feedback and then test the product / service with some people you don't know and get feedback again. If you go through a few rounds of feedback like this, you will have a much clearer idea of what the market wants and how you can best provide it. From there, you'll need to figure out your distribution channels - that is, where you're going to sell your product/service. Through Amazon? Via your own website? Locally via in-person sales? Whatever the channel, learn as much as you can about how to get visibility on that channel (there is a ton of high quality, free advice online for most channels) and start to optimize it.

If you have no idea at all what you want to sell, think about what types of things you enjoy working on, and then see what others are doing. Study the ones who do it best. Since you're starting so young, you have time to work from the ground up on whatever skills you're trying to develop. You'll be able to get some sales in the short term, and by the time you are college age, you'll be way ahead of others who haven't started trying to develop any of these skills yet.

If you need to make money right away, it makes sense to get a part time job and work on your entrepreneurial idea on the side, until you're getting some sales from it. If you don't need to make money right away, work through the above steps and you'll be well on your way to having your own little business.

Jack recommends the following next steps:

Choose whether you're interested in selling a product or a service
Research what you're interested in selling - what are the alternatives in the market?
Test your product / service with people you know and get feedback
Test your product / service with people you don't know and get feedback
Research where / how people will buy this from you, and how you can become more visible there
Thank you comment icon excellent advice! becky johnson
Thank you comment icon Thank you for the great advice! Salma
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STEPHEN’s Answer

Thats so great you are thinking this way so young!

You have the ability to try out so many options, but my only advice would be to find something you love and a product/service you truly believe in. That sounds simple but I think it is more important than any other factor to account for.
Thank you comment icon Thank you so much! Salma
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Carla’s Answer

Hello Salma. If you love dogs and have a way with them, consider starting your own dog walking business. It's a great way to get in a daily dose of exercising.
Thank you comment icon Thank you! I have dogs of my own and I think that’s a great service! Salma
Thank you comment icon That's perfect Salma. Also try this link for tips on getting started. https://www.petsit.com/dog-walking-4-tips-for-successfully-offering-this-service Carla Nelson
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Sarah Evelyn’s Answer

Hi Salma! When I was 16 I found babysitting to be a great way to make money and also have fun!
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Will’s Answer

The best advice I've heard especially at your age is to find something you enjoy doing. If your specifically looking for a product or service to sell for extra cash you could apply that to finding something that interests you and try selling that. When I was young I would cruise garage and estate sales looking for small antiques such as classic pens/watches or even electronics for cheap then sell them on ebay. Vintage electronics are pretty hot right now and might be worth looking into but I would focus on things that you have an interest in and some knowledge of, maybe it's sneakers, sports equipment, musical instruments etc. If your interested, it's easier to become an expert and then buy low so you can sell high and make a profit.
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Dawn’s Answer

there are a lot of jobs that you can do. some are: dog walking, cutting neighbors yards, babysitting. You can ask your friends if they know of anyone that needs help with anything you are capable of doing. it is good that you want to start to earn money. Once you do start saving some also for your future.
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Sandy’s Answer

Hi Salma

I see a lot of people have given great advice and a variety of ways to make some extra money. Although, I would recommend that you learn a new skill at this age. My daughter who is also 16, is learning about the stock market. This is a great skill set that you learn that will go long way for the rest of your life. There are tons of youtube videos out there but take a look at the Humbled Trader channel - she does a great job explaining ins and out of the stock market. Good luck with everything!

Sandy recommends the following next steps:

https://www.youtube.com/c/HumbledTrader/videos
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Hristo’s Answer

Hi Salma,

It’s fantastic to have that entrepreneurial spark at so young age. I was an entrepreneur when I was 19 years old so hope you will find some of my experience useful to you.

First and foremost, remember that your top priority still is high school/college/university. They would give you knowledge and skills which will serve you for many, many years to come, so it is best to focus on that.

However, I had some spare time while I was in the university and found a problem which I can solve. Usually some the most successful and lucrative businesses are those that solve some problem people have. Look around and keep your entrepreneurial radar on and surely you will notice some pain point.

If you want your business to continue for longer, make sure that it is scalable. Otherwise, you will trade your time for money and as I mentioned at the beginning right now your time is valuable to gain knowledge and skills.
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Sandesh’s Answer

1. Strategy
a. Identify your niche: What is it that you have to offer different than what's being already offered by your competitors
b. Assess your competition. Assess your target market. Create a business plan

2. Finance
a. Pitch the plan and attract investors. If capital requirements are small, self sponsor but remember to keep your losses minimal.
b. Close the deal, make the capital draws

3. Capability
a. Develop your product/Service
b. Identify the target customer. Promote your product/service via website, social media etc. (Some times your need to give out your product/service for free limited trial)
c. Execute on production, marketing, accounting, human resource, business management
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Nadia’s Answer

Since this is your first sales experience, I would suggest finding a job in a shopping mall as a sales rep which will provide you a safe environment as well as sales experience and a bit of pocket money. Stay safe and good luck!
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Michael’s Answer

Hi, at your age of 16 I would seriously consider following Marc Cuban's advice to learn Artificial Intelligence applications, i.e. Alexa, Google Home and Cortana.

Please take a look at this article for more information:

https://www.cnbc.com/2020/05/01/mark-cuban-this-is-the-side-hustle-id-start-now.html
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Gaby’s Answer

If you enjoy making videos, you can create a Youtube channel. It does take a while until you can start making money on this platform but it is a great way to express your creative side, have fun, and eventually get paid for it. If you enjoy taking photos, you can set up a small photography business to take professional headshots of people or take photos for events in your area. Note that both of these ideas require decent camera equipment so keep that in mind!
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Dwayne’s Answer

There are plenty of good jobs that my kids did at 16 years old. It depends on your abilities and your motivation for money. You can always work fast food but the problems are you have a boss that gives you a paycheck two weeks after the work is done, you make very little money & the tax man gets to keep some of your money. If you have a car or motorcycle you can always deliver pizzas or grub hub type business. But again, you have issues with boss, delayed money and the tax man; although you can make tips. My suggestion would be to create your own CASH business. I had one son that knocked door-to-door to offer his services of window washing (exterior only). Many people will be willing to help out a young person willing to do a little work. Again, never go into someone else's home, EVER. My other son would knock door-to-door and offer to spray paint the street address number on the street curb. He did the best in terms of cash per hour. It is hard to do door-to-door sales with the rejection but it is cash-in-hand/same day and you can work the hours you want. Saturday/Sunday were very productive for him. Averaging $300-$500 a day. He made ALOT more money as his own boss as he did working fast food or as a waiter. Your area may be different but if you can ask around, I am sure there are homeowners/neighbors that need something done on the exterior of their home and are willing to pay a fair cash wage. Again, NEVER go into anyone's home, EVER.
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Blake’s Answer

Hey Salma,

If you are able to make something that people will want to buy, then that's your answer. Now, finding what people want to buy is the hard part. I would recommend trying to get a job at a local business or store so that you can see what people like buying. That might give you an idea of what it is that you want to sell if you're unsure.

Thanks,
Blake
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