ArtsAutosBooksBusinessEducationEntertainmentFamilyFashionFoodGamesGenderHealthHolidaysHomeHubPagesPersonal FinancePetsPoliticsReligionSportsTechnologyTravel

Do You Have a Child Entrepreneur?

Updated on July 14, 2012

Entrepreneurial Kids

Kids are always looking for ways to make money. When I was a child, it wasn't unusual to find me running lemonade stands, mowing lawns, or looking for other ways to earn money.

I knew from an early age that I wanted to run my own business someday (running my own bookstore was at the top of the list), so it's no surprise that I run several businesses today.

Today the number of business opportunities for kids have exploded with the growth of the Internet. Many children are taking their desire to earn extra money to heights way beyond the lemonade stand thanks to Web 2.0 strategies such as Twitter, MySpace, Squidoo and Facebook.

There are no age barriers with the Internet, so child entrepreneurs are popping up everywhere.

But not every kid has the drive and motivation that it takes to run a small business. So how do you know if your child is an entrepreneur?

In this lens, we'll explore ways kids can make money, business ideas for kids, how to know if your child is an entrepreneur, where to find business games for kids (to help them learn more about starting and running a business), how to hire your children if you have your own business, and how to help your child start and grow their own business.

Kids & Business Poll

What does your child do to earn extra money?

See results

Business Ideas for Kids: Part I

How do kids make money when they're not old enough to get a job?

Actually, the number of ways for kids to earn money has grown tremendously with the growth of the Internet, but some of the old fashioned ways still work as well. Here are some old fashioned, but still great ways your kids can earn money:

Chores - have them do some extra chores around the house for pay (I wouldn't recommend paying them for the chores they are already supposed to be doing, unless that's part of your current allowance system)

Lemonade stand - an oldie, but still a goodie, a lemonade stand is a great way to teach children about supply and demand, the cost of buying ingredients and then selling them as a finished product, etc.

Babysitting - hey, no matter how technical our world gets, we will always need good babysitters, and this is still a great way for kids to learn responsibility

Mowing lawns, shoveling snow, raking leaves - it's much cheaper to hire a kid than an expensive lawn service, so this method of earning money will always be around

Dog walking, and pet sitting - we live in such a busy society that our pets get left at home for long time periods, so this is a great way for kids to earn extra money and for Fido to get the exercise and companionship he needs

Are you tired of your kids always asking for money?

Are your kids great at spending money, but too young to get a job? Have you exhausted the number of chores they can do around the house for extra money?

Maybe your kids are looking for ways to earn their own money... Sure kids can setup lemonade stands, do babysitting, and mow lawns to earn extra money, but there are so many other things kids can do to earn their own money.

In Kids Business Ideas, you'll learn 83 different ways your kids can start earning money today!

Children will love this book because it gives them ideas on how to make their own money... Parents will love this book because it means kids will stop asking for money!

It's also a great way for kids to learn the value of money, and to learn valuable business skills that they'll need later in life.

So if you're tired of your kids always asking for money, and would like to teach them how to earn their own money, as well as how to value money and how to run a business of their own, then you'll love Kids Business Ideas!

Business Ideas for Kids: Part II

With the invention and growth of the Internet, the ways for kids to earn money has and the number of kids businesses has grown tremendously.

There are no age barriers on the Internet, so kids can earn money in many of the same ways that adults do, including:

Blogging - with free blogging platforms like blogspot.com, wordpress.org, squidoo, myspace and other web 2.0 sites, kids of any age can start earning money by writing about things they like.

eBay - sell old toys, clothes, CDs and video games online, especially at Christmas time. what a great way to get your kids to clean their room and to earn money at the same time!

Creating websites or MySpace logos or graphics - kids are tech savvy and creative, so who better to create websites, graphics, logos and avatars for other kids? There's huge demand for these products and services and since more and more kids have their own money, there are paying customers aplenty.

When it comes to making money online, don't underestimate your kids. They know computers and the Internet better than many adults, and they are creative and unafraid to take risks. I expect the number of kids businesses to keep growing as kids realize the potential of their computer and internet skills.

Successful Kids Businesses

Profiles of some successful child entrepreneurs

Ashley Qualls - At 17 going on 37 (at least), Ashley is very much an Internet professional. In the less than two years since Whateverlife (where Ashley creates MySpace graphics and layouts) took off, she has dropped out of high school, bought a house, helped launch artists such as Lily Allen, and rejected offers to buy her young company. Although Ashley was flattered to be offered $1.5 million and a car of her choice--as long as the price tag wasn't more than $100,000--she responded, in effect, Whatever. :) "I don't even have my license yet," she says.

Cameron Johnson - At age 9, Cameron Johnson started his first business, making greeting cards and party invitations on the Compaq computer he got for Christmas. Three years later, the Virginia native was making $50,000 a year selling Beanie Babies online from his parents' garage.

Bradley Ziegler - One of Bradley Ziegler's favorite days is the day after Christmas, when the bargain bins at Toys "R" Us and Wal-Mart are filled with marked-down DVDs and GameCube games. As he has done for the past two years, Bradley will pick up an armful of $3.99 games and movies and then auction them for up to 10 times that on eBay to regular customers from Kentucky to Cyprus.

Check back soon for more successful child entrepreneurs!

children tax return
children tax return

Is Your Child Required To File A Tax Return?

For most kids, the last thing they are thinking about when they get a job or start a business is whether they will need to file a tax return or owe taxes on the income they earn.

Most kids won't even make enough to file, but some children will be required to file a return based on the amount and type of income they earn.

The rules for children and taxes can sometimes be different than those for adults, so how do you know if your child is required to report their income?

Click here to continue reading 'Children And Taxes: Is Your Child Required To File A Tax Return?'

Kids Business Games

You want your child to succeed in their business, so before they start a business you should help them learn as much as possible about businesses.

Here are some great business games for kids to learn about business:

Child Entrepreneurs: How to Know if Your Child is an Entrepreneur

An entrepreneur is defined as a person who organizes, operates and assumes the risk for a business venture. This sounds a little complicated for a child, but there are some characteristics or traits that your child may have that may indicate that they are a child entrepreneur, such as:

- Independence: Is your child a control freak? While that trait can be particularly annoying (and challenging) while your child is young, it could also mean they will be their own boss one day.

- Persistence: An important quality of a successful business owner is the determination to keep at a goal despite setbacks and challenges. If your child is persistent - or stubborn - that could be a sign that they are a budding entrepreneur.

- Confidence: I can't tell you how important this trait is for business owners. People who believe in their skills and abilities, especially children and teenagers, are often more successful than those who don't possess self confidence. Child entrepreneurs typically have much greater self confidence than other children.

- Creative: Entrepreneurs are generally creative people. Creativity is important in the business world, as the competition is always improving so you have to be always improving as well. Business owners who are not creative and innovative tend to get left behind. So if you have a creative child, encourage that creativity!

- Organized: Is your child more organized than most children? Does your child clean his/her room without being told? Are their toys and hobbies neatly organized? While I know a lot of entrepreneurs who are definitely not organized (creativity and organized don't necessarily go together), this is a great trait to have.

- Goal oriented: I believe this is the most important trait of an entrepreneur. After all, how can you run a successful small business if you aren't working towards goals? A goal oriented child is a good sign that he/she may join the growing number of child entrepreneurs some day.

- Committed: There are many successes and failures in any small business. An entrepreneur must be committed, even when things aren't going well.

- Motivated by Money: Perhaps one of the strongest traits in child entrepreneurs is the motivation to make money! Many entrepreneurs are born because they want to earn more money. If your child is constantly asking for additional chores or looking for ways to make more money, that trait will probably continue into their teen and adult years. Don't be surprised if your money hungry child becomes an entrepreneur.

These are just some of the traits of a successful entrepreneur. While having just one or two of these traits may not mean you've got a small business guru on your hands, if your child has several of these traits, they may have the skill set to become a budding child entrepreneur.

Five Business Ideas for Kids During the Holidays

Here are some quick and easy ways for kids to earn money during the holidays:

1. Wrap gifts

2. Shovel snow

3. Take (and sell) pictures

4. Make holiday cards

5. Make decorations or hand-crafted gifts to sell

For complete details on these ideas, click here to continue reading...

Disclosure

EbizTaxTips (Kristine McKinley) is a participant in the Amazon Services LLC Associates Program, an affiliate advertising program designed to provide a means for sites to earn advertising fees by advertising and linking to amazon.com, endless.com, smallparts.com or myhabit.com.

Do You Have a Child Entrepreneur? - Share Your Child's Business Successes Here!

    0 of 8192 characters used
    Post Comment

    • constantinamuston profile image

      constantinamuston 4 years ago

      I am very eager to teach my kids how to become entrepreneurs. They are only 2 and a half but it is never too early to learn. By the time they are teenagers they ought to know how to get out of the house and earn and living. It will be an invaluable skill that is not taught at schools.

    • TheFreeLife profile image

      TheFreeLife 4 years ago

      That would be me. Started when I was 17.

    • MelWilkins profile image

      MelWilkins 4 years ago

      It's so important to encourage a child to build on their dreams and ideas and not to just fade into the crowd.

    • profile image

      tobylove214 4 years ago

      I am a also small Entrepreneur. I have business of cell phones. Which is very helpful for me to earn much money. Because of i have experience in this business.

    • EbizTaxTips LM profile image
      Author

      EbizTaxTips LM 5 years ago

      @sophfoof: $20 a day is a great start... good luck with the paper route!

    • EbizTaxTips LM profile image
      Author

      EbizTaxTips LM 5 years ago

      @ntillem: I agree! I was a child entrepreneur myself, and I'm a tech geek... I can only imagine what I could have done if I had been born even 10 years later!

    • profile image

      ntillem 5 years ago

      Starting small businesses is not the only thing that children entrepreneurs can bring to the table and towards their futures. Their generation is poised to take full advantage of the new wave of cloud computing in business.

    • profile image

      sophfoof 5 years ago

      I am a child entrepreneur! Sort of... I do lemonade stands on the weekends, raking in $20 a day. I've also just started a paper route which also adds to the total.

    • karen550 lm profile image

      karen550 lm 5 years ago

      Very nice, thorough lens! You even included tax information. Thanks for sharing!

    • profile image

      autorespondernewsbrief 5 years ago

      I should be so lucky. Someday they might waken up when the squidoo penny drops.

    • profile image

      howittclan 5 years ago

      Sure do! My son Flynn sells honey and does very well out of it. He is 12 years old and buys raw honey in bulk for $3 a kilogram, then bottles it up into small 500gm bottles and sells it for $12 a kg. He pays his mates to do all the bottling. My daughter Amber, visits the local dump and looks for things people have thrown away that she can clean up and sell. She is 10 years old and makes abot $50 a week out of it. I loved reading your website. Regards Trevor

    • profile image

      DotComBusted 5 years ago

      Nope, I don't have an entrepreneur child yet ... but who knows what future brings to me. I will surely direct him to squidoo as there are plenty of great job already done here on lenses like yours. Good work...

      Just Been Paid lens

    • gold3 profile image

      gold3 5 years ago

      My daughters have a list of the things they are going to try when they get a bit older. Love this lens!

    • profile image

      bizcards4u 5 years ago

      We would like to share our Zazzle store web address and Squidoo lenses. Entrepreneurs of today can purchase quality, customizable business cards at www.zazzle.com/bizcards4u and visit our lenses below.

      www.squidoo.com/entrepreneur-and-entrepreneurship

      www.squidoo.com/business-card-showcase

      www.squidoo.com/business-card-dimensions

      www.squidoo.com/business-letterhead

      www.squidoo.com/jobs-for-college-graduates

    • profile image

      bizcards4u 5 years ago

      Very nice lens! We believe that entrepreneurs are essential for a successful, powerful economy. And, the economy of tomorrow depends on our children's entrepreneurial spirit. Our eldest son is an aspiring graphic designer and he helps design images for our Zazzle store BizCards4u and eventually our Squidoo lenses below.

      Entrepreneur and Entrepreneurship

      Business Card Showcase

      Business Card Dimensions

      Business Letterhead

      Jobs for College Graduates

    • ananimoss2 profile image

      ananimoss2 5 years ago

      Yes, I sure do. They have their own website. I am slowing them down, so they have time to do homework!

    • LTPParents profile image

      Tracy Gibb 5 years ago

      My son is definitely a child entrepreneur. He is obsessed with making money and is the most driven person I've ever met. This is the perfect lense for us. We already use some of the ideas but many are new and I can't wait to try them! I'm tweeting this link too! Thanks for this great lense!

    • LTPParents profile image

      Tracy Gibb 5 years ago

      My son is definitely a child entrepreneur. He is obsessed with making money and is the most driven person I've ever met. This is the perfect lense for us. We already use some of the ideas but many are new and I can't wait to try them! I'm tweeting this link too! Thanks for this great lense!

    • profile image

      anonymous 5 years ago

      You have a great lens.

    • BusinessSarah profile image

      BusinessSarah 6 years ago

      There's a great video of Cameron Herold's TEDTalk about raising children to be entrepreneurs -- I highly recommend checking it out. You can find it at: http://www.ted.com/talks/lang/eng/cameron_herold_l...

      Thanks for the lens! It's an interesting topic -- what would happen if we raised our children with an entrepreneurial mindset, dedicated and accountable for their actions, rather than handed them a weekly allowance for doing nothing at all? Our political and social landscape might look very different than it does now... thanks for the food for thought!

    • Patbinc profile image

      Patbinc 6 years ago

      Wonderful information in here...thanks for taking the time to post it all here.

    • profile image

      anonymous 6 years ago

      Great lens! It instantly made me think about my 5 year old who is constatly doting she is going to be an entrepreneur ... she surely captures everyone's attention that she can say the word so clearly and associates it with owning her own business. I guess I have a child entrepreneur on my hands:).

    • profile image

      ZigZagPrinciple 6 years ago

      I loved it! This lens was such a joy to read! I do actually have 5 sons and they all are entrepreneurs to different degrees. I hope the love and experience they have gained while they are young, will propel them in the future!

    • UKGhostwriter profile image

      UKGhostwriter 6 years ago

      Excellent lens! - well done

    • Judy Goldsberry profile image

      Judy Goldsberry 6 years ago

      Very useful info. My daughter had a lemonade stand when she was 5, she made enough to buy the doll stroller she saw at the gargage sale, despite the fact that she kept saying "Free lemonade or buy it for 25 cents.

    • profile image

      emincher 6 years ago

      Enjoyed reading your article! Amazing thinking back to what I did as a child and to what resources are now available. Another website I've found interesting and informative is www.littegreenmoneymachine.com. I like their community involvement and connection with Del Visionaries, a community whose goal is to educate both youth and adults about business and entrepreneurship. Thanks for sharing your insights.

    • profile image

      babysittersclub2 6 years ago

      great lens! When I was 11 I started my own babysitting business and then started my own babysitting website due to the lack of babysitting resources online during the time. Those should've been a telltale sign that I was meant to be an entrepreneur! But my parents pushed me to go into the medical field which I hated but now I am back trying to get a degree in business! It's funny you mentioned those games because the Sims (i had all 3 + the expansion packs), Zoo Tycoon, and Lemonade Tycoon were one of many of my fav. games...Sims being #1 and Zoo Tycoon #2!

    • dougadam profile image

      dougadam 6 years ago

      Thanks for the informative lens

    • myraggededge profile image

      myraggededge 7 years ago

      I only wish I did! Great article. The UK laws on children working are very draconian - I believe they are only allowed to work 4 hours a week if they are under 16 but I could be wrong.

    • DreamsFulfilled profile image

      DreamsFulfilled 8 years ago

      A great article! Thank you for the awesome information.