Entrepreneurship Opportunities for High School Students

When students get to college, they are always amazed by the number of students that have started their own businesses in high school. Some of these businesses are truly amazing, beyond what adults could have started, while others are small businesses that are nonetheless impressive in that a highschooler started it. Just within our Versed advisor families, we have had a student that started an organization to teach music to underprivileged children - he organized student musicians in his school to provide free lessons, procured instrument donations from various sources, raised funding and executed this program. Another student started a social media app based startup designed to create local feeds for concerts and restaurants. Another had his own iOS and Web Development company by Junior year. I am sure you have seen many shark tank episodes where kids are running million dollar businesses. Parents always ask, how do these kids start their own business?

As we all know, every student is different in their interests, temperament, creativity, initiatives, and ability to organize and execute. It’s one thing when you have interests in STEM, writing, or music, where there are traditional clubs, programs, organizations to help you pursue those interests at the highest levels, but what if you are interested in fashion, or cooking, or animal activism? The good news is that there are off the beaten paths students can pursue and entrepreneurship is one of them.

Why start a company?

There are many good reasons to start a company. Some students want to major in business in college, and want to gain direct experience. Others happen to have an idea, or identify a problem that they want to solve. Some have a deep level of expertise in a non-traditional area of personal interest such as cooking or fashion or animal activism, and they are looking for an outlet to pursue them. For high school students, starting a business is not about making money, but an opportunity to work on a passion project, gain important skill sets, and grow and develop on many levels.

Benefits of entrepreneurship

Students thrive when they discover and pursue an area of significant interest. We all know, if you want your teens to really work hard at something, it has to be something that they care about. Entrepreneurial experiences are one of the ways that students can differentiate themselves in the college admissions process. Colleges are looking for individuals with strong initiatives, leadership skills, creativity, and the ability to make an impact. Entrepreneurial initiatives show that the student will take advantage of opportunities in college and thrive in that environment. Businesses that focus on social impact or community needs show the student’s desire to make a difference in the world. Ultimately just starting a business is not what matters, but what one has achieved with the business, and how it has helped the founder grow and develop.

Types of businesses that students can start

Students should always start with a business that they either have a personal interest in, or know something about. Starting a business is challenging, and the initiative and drive required to keep it going will wear most people down if they are not truly excited about the mission, the industry, the product or service.

Examples of For-profit businesses

Simple businesses relatively easy for teens to start include:

✓media - blogger, podcaster, social media influencer, special interest content site

✓services - tutoring, babysitting, dog walking, lawn care, house sitting

✓technical services - tech support, web/graphic design

✓artistic - music service for events, photographer, portrait artist, arts & crafts

Businesses requiring some technical knowledge, expertise or mentor guidance:

✓developing Apps, software/hardware products, social platforms, marketplaces

✓healthcare, biotech, real estate, finance

✓products - food & beverage, clothing/jewelry /beauty line

Examples of NOT for Profit businesses:

Students should start with what they care about and how they can improve their community. The organization does not even need to be a formal business, and can be organized as a club.

✓organize peers to read to students in an after-school program for disadvantaged children

✓use athletic/artistic talents to create an organization that provide free lessons to children

✓use programming skills to develop a website for a nonprofit organization, or community organization be more efficient in delivering its services

✓create a website with information related to resources available for elderlies during COVID 19

✓design an online system that coordinates ordering and delivery for local restaurants and businesses during COVID 19

Getting Started

First, students need to identify something they care about or find a problem to solve. What need is the student aware of that is not being met by existing businesses and organizations? Next, they need to do the research and talk to as many potential customers as possible to validate the need. Once it is clear that enough people have this need, students need to think of a way to bring a product or service to market that will solve this problem and turn it into a small business. Basic task of setting up a business is not difficult, but many organizations that high school students start can be started as a club, and do not even need to be incorporated. One of the most important steps to founding a successful business is to find mentors (startup entrepreneurs & industry experts) to give guidance so that students are on the right track. Mistakes are inevitable and great learning experiences, but getting good guidance also ensures that time is not wasted on easily fixable problems.

For students that want more structure and guidance around this experience, there are many formal and informal programs, such as summer programs, incubators, and accelerators to get them started. LaunchX started in MIT is one of the most well known programs. Quarter Zero, Endevvr, and Leangap are other programs geared towards high school students. Many universities offer entrepreneurship programs through pre-college summer programs - Wharton Management & Technology Summer Institute, Wharton KWHS Global Young Leaders Academy, Babson Summer Study, Georgetown Entrepreneurship Academy, Life Changing Summer at Cornell, and USC Exploring Entrepreneurship are some of the notable programs. Keep in mind that these programs are absolutely not necessary, as there are a ton of free resources available for entrepreneurs. Y Combinator, the famous silicon valley startup incubator runs the startup school completely free for aspiring entrepreneurs that want to get a business off the ground. There are many courses on EdX and Coursera to help entrepreneurs get their startup off the ground. Startups.com provide all aspects of startup resources for a monthly fee.

Another way to get involved in entrepreneurship, without actually starting a company is to get an internship at a startup company to gain experience and see first hand what it takes to get a company off the ground. Typical internships give the intern entry-level experience in a certain role but startups can give students more opportunities as they are incredibly stretched, and may need the student to perform a variety of jobs/roles. In all major cities, there is a plethora of startups, giving the intern the opportunity to find the type of companies of most interest to them. Even unpaid internships can benefit students with new skills and a better idea of the type of career you want to have. It is very important to research the company carefully so you know that this is a legitimate company and students understand clearly what they will be doing.

For additional insights, read our blogs:

Best of Online Learning: Business

Virtual Internships for High School Students

Do High School Students Need a Focus?

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