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Define Entrepreneurship
Interviewing Entrepreneurs
Ideas
Risks
Prototypes
Ready to Roll

Requirement Number One: In your own words, define entrepreneurship. Explain to your merit badge counselor the role of the entrepreneur in the economy of the United States?

What is an Entrepreneur?

What is Entrepreneurship?

According to Webster's, an Entrepreneur is defined as, "One who undertakes to start and conduct an enterprise or business, usually assuming full control and risk."

Your First Business

Do you think you're too young to start your own business? If you said, "yes" take a look at some of the famous people below and their first start:

Dave Thomas, founder of Wendy's Restaurants, started his food service career at age 15.

Bill Gates, founder of Microsoft, started his first business at the age of 15.

Oprah Winfrey, decided she was going to earn her living by talking when she was paid $500 at a church when she was only 12 years old.

Source: Fast Cash for Kids by Bonnie and Noel Drew.

The examples above are just saying that you can start at any age and become successful if you put your heart and mind to it.

One thing important to remember is that your business should not interfere with your education. Even if your business makes a lot of money, it is no substitute for a good education.

Example

Can't think of anything to sell? Don't worry, that's the hardest part. You should try to sell something that many other people don't. This gives you an advantage.

A great way of coming up with ideas for your business is to take a piece of paper and make two columns across the top of the paper. One should say "My Hobbies and Interests" and the other should say "Business Ideas."

Now, right down all the fun and interesting things you like to do in the "My Hobbies and Interests" section. Make a list as long as you can. Once you have finished that, go back to the top of the list and think of business ideas based on each hobby or interest. Right down any ideas you can think of in the "Business Ideas."

You should be able to think of a product or service for your business from this list. You can also check out our Cool Links page for some examples that other kids have come up with.

Business Examples

Excellent business ideasfor kids

High-tech business ideas for youngsters

Start a t-shirt business and more

Turn your artwork in to greeting cards

Build specialty chairs for children

Youth and Business Sites

Kidsway

Make candy

 



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