Tips and Tricks for Students Who Want to Start a Business but Have Limited Funds

Posted on by empoweredflowergirl

Starting a business as a student can be a great way to get a head start on your career. The one drawback of being a young entrepreneur is that you may lack capital or startup funds. Don’t stress. Business ownership isn’t out of reach, even if you aren’t rolling in cash. Here are some tips and tools to help you start a business with little financial resources.

Explore Low-Cost Businesses

Research cost-efficient business models to minimize your need for startup capital.

  • Check out business ideas that don’t require a lot of cash, like web development or travel planning.
  • Skip the cost of hiring people by pursuing solopreneurship. Possible ideas range from freelance writing to coaching.
  • Avoid paying commercial rent with a home-based business model, like personal training or fixing broken electronics.

Get Creative When Finding Ways to Cut Startup Costs

Try these hacks for minimizing your financial needs as a young business owner.

Try a Diversity of Funding Options

Traditional bank loans are just one of the many options available when it comes to financing your business. Here are some alternatives.

Embrace Free and Low-Cost Promotional Tools

You don’t have to spend big bucks on fancy ads and marketing. Here are some affordable tools to help raise your business’s profile.

If you’re a cash-strapped student with limited capital, starting a business might seem out of reach. It doesn’t have to be. Whether you’re using royalty-free videos to market your business or planning a fundraising event, the above guide provides some pointers to help you get your entrepreneurial journey off on the right foot, even if you aren’t rich.

Empowered Flower Girl offers youth tools to live more powerfully. Be sure to follow our social media channels for positive news, funding opportunities and empowering events.

Starting Your Own Business: Becoming a Business Owner as a Teenager

Posted on by empoweredflowergirl

By Joyce Wilson

Have you thought about starting your own business but are unsure if you can because you are a teenager? It’s possible to run a business of your own even if you’re not out of high school.

Working for yourself can come with many benefits, including learning how to manage money and teaching you about investing in your company, and it can give you an idea of what type of career you want to pursue in the future. 

The Benefits of Working for Yourself

Working for yourself can teach you many helpful habits when it comes to money management. You can learn about setting aside money to reinvest in your company and estimating how much you’ll need to get started. Building your own business is easier if you have low overhead, or don’t have to spend a lot of money to get set up and run your company. 

For individuals who are trying to build upon their commerce skills, this can be a useful way to solve problems (such as filling a need for your community), showcase your creativity (creating or designing something that people will buy).

Budgeting and Saving While Running a Business

After you have identified what type of business you want to create, set up a budget for your company, planning on how much you will spend. According to experts, this will help stay within spending limits and help you avoid spending too much money before your company has had a chance to take off.

Saving money is important because you’ll want to reinvest earnings into your company. You’ll want to identify what your profits and losses are, and use this information to tweak changes to your company so that you can ensure you are earning as much as possible. 

Potential Work in Animal Care

Are you wondering what type of business you could set up as a teenager? If you love animals, consider working with them and setting up a company that caters to their needs. You could become a dog walker or offer pet sitting services either in your home or the home of the pet’s owner. 

This business model wouldn’t cost much to get started since you’d only need to focus on marketing efforts, and you could take on as many clients as you felt comfortable managing. If you want to stand out from the competition while marketing, try using an online logo maker so you can make custom logos instantly and easily. Select a style and icon, choose the text you want, and you’ll be able to view different logos in a variety of colors and fonts. 

Working with Children

Babysitting can be fun for individuals who like to work with children. Much like pet sitting, you can set your own hours and work as much or little as you would like. You might take care of children for a few hours or a majority of the day. Your efforts will mostly rely on marketing and word of mouth to help you find customers, thereby keeping your costs low and making this a worthwhile venture. 

Even if you are still a teenager, there are plenty of ways to build a business of your own. This can teach you valuable skills that can help you in college and beyond, no matter what you choose to pursue later in life. 

Joyce Wilson is a retired teacher and enjoys sharing lesson plans, resources, and teaching tips on Teacher Spark. Her website is a compilation of practical resources that will inspire student engagement and instill a love for learning. By tapping into a student’s natural creativity and curiosity, Joyce believes that they can take their education to a new level.

Girlpreneur logo

The Girlpreneur Expo is Back!

Are you a girlpreneur or aspiring young entrepreneur in the Detroit area? If so, join us on Saturday, August 13 for the Girlpreneur Expo, hosted by the T-Rose Foundation. The event is free for attendees. Register via Eventbrite or visit www.t-rose.com/girlpreneur. Empowered Flower Girl will be there with information about our workshops and programs, including how you can get featured in our She’s EmPOWERed column and attend our Be the Impact Summit this fall.

She’s EmPOWERed: Tulsa Teenpreneur Uses Greeting Cards to Inspire, Celebrate Girls of Color

Posted on by empoweredflowergirl

Kolbi Lucas was introduced to the world of entrepreneurship as a tween after she noticed a lack of diversity in the greeting card industry. 

That introduction quickly became a passion when she discovered that she could also use her ideas to create and control her future. “I have received a lot of support from many girls and women who tell me that I have inspired them,” said Kolbi, 13. “Their words are affirming and make me feel like I am on the right path.”

That path was directed while Kolbi was out shopping for a birthday card for a friend. She realized there were very few cards with images of Black and Brown girls. 

So, at 10 years old, she started Kolbi’s Afromations – a company that designs handcrafted greeting cards and stationery.   
She hopes that her cards inspire, encourage, and affirm the beauty, intelligence and magic of being a Black girl.

Words of Encouragement
As a successful girlpreneur, Kolbi offers some encouraging advice to aspiring young business owners. 

“Be patient with your business. It is a process, and you won’t always see the success you want right away’” she said. “Prioritize your business by managing your time. As a business owner, you have to be willing to put in the time it takes to provide the best quality for your customers. Sometimes, this means sacrificing things you want to do, but in the end, it will help your business grow.”

Kolbi has aspirations of her own. After high school, she plans to attend NYU or Howard University and study art or fashion. The ambitious teen is interested in being a fashion designer, stylist, or chief editor for a high-end brand. She’s also interested in acting. 

We’re sure she will flourish in any career. Kudos to Kolbi!

Connect with Kolbi:
IG: Kolbis_afromations 
FB: Kolbi’s Afromations