Be Your Own Boss

I’ve always been a fan of business mentorship opportunities — where a younger entrepreneur offers their services to someone already succeeding in business, in exchange for learning the ins and outs of the trade. These opportunities are becoming harder and harder to provide for, with various local and federal regulations making them criminal. This doesn’t mean that a young entrepreneur can’t find a mentor, though, one just has to look a little harder and ask around more.

For most entrepreneurs, their first job will likely be in the retail or food service (restaurant) sector. Working for a mass merchant or a large restaurant chain offers only one real reward: income, and a limited one at that. I’ve spoken with various local business owners though (the so-called “ma and pa” stores and restaurants), and have been surprised that most were open to the idea of mentoring to someone interested in a future of running their own business.

It isn’t easy to get your foot in the door, though, as the youth of today often times come across as irresponsible and lacking in loyalty. This is where a teenager can set themselves ahead of the rest though — by showing interest in a local business, you can probably find yourself some great opportunities in your own neighborhood.

The most successful adults I know today were able to “slave” themselves out as teenagers — working the lowest paying jobs that gave them the best insight to running a business. You’d be surprised how much you can learn bussing tables or cleaning cars, but the average youth looks at the income and doesn’t see value in working for less.

If you already have an idea of what market you see yourself in, you should consider finding the oldest and smallest ma-and-pa business in that market in your home town. Don’t be afraid to visit them on a slow day and inquire about what needs they might need met. Be honest about your desire in running a business in that field, and you might be surprised that they’ll take you up on it. Initially offering them very basic (and low paying) services is a great way to prove your loyalty to them, and quickly grow into a job that gives you better insight into how a business is run. Don’t be ashamed or embarassed to offer yourself as someone who will help clean up and organize an office or a restaurant (even after hours), as you’ll gain the respect and trust of the person who knows the business best.

Working for a megacorporation might give you the opportunity to grow within that company, but it will likely not offer you much insight into running a business. Instead, you want to exchange your hard work for the ins-and-outs of a business: how do they handle ordering? How much is their rent and utilities? How much paperwork do they file with the local authorities? How much money do they take home at the end of the month after everyone has been paid? When are the busy times and the slow times, and how often do they have to save their big profits to make up for the really slow periods?

These are the things you need to understand now, as a teenager. The actual income is irrelevant and I think getting paid might actually get in the way of earning the real profit: the knowledge you won’t learn from a book or an Internet site or even in college.

Summer is coming quickly, and once you’re out of school for the year, you’ll already have missed the time you need to get to know the local business owners. Find out if there is an organization in your town focused on local business owners — usually its called a Chamber of Commerce or a Village Business Association. See if you can go to one of their meetings (maybe with a parent in tow).

The best opportunities for the youth comes from giving up your time in exchange for the knowledge of someone else. The profit you earn (information and experience) far outweighs the money your friends might be making working for a large chain store. In 10 years, they’ll still be working for another large company, and you might be running a competitor to it.

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