Starting young at Entrepreneurship

Entrepreneurship is described by as being;

a person who organizes and manages any enterprise, esp. a business, usually with considerable initiative and risk.

I was 15 when I wrote my first mini business plan. It was before the big boom of internet cafes and well before fast broadband lines were plumbed in to houses up and down the country. My business plan was scribbled down on two sheets of A4 with an attached profit/loss and growth analysis sheet. I sat with my Dad on a sunny afternoon in Exeter whilst we were on a summer break, scribbling down an idea of setting up an internet cafe with the extension of it actually providing food to increase the turnover. I worked out roughly how much people would pay to use the service and on average how much they would spend on Food/Drink whilst they were there.

I also had the idea of setting up a roaming LAN Party company, where I would tour the country visiting major cities and bringing the PC Gaming community in to one large hall for a gaming competition. I looked in to the kind of sponsors to approach, how much it could cost to setup an event, how much to charge entrants, the likelihood of being able to sell food/drinks on site etc

It’s not usually normal for a 15 year old to write business plans, which showed when I told people about it and they’ve given me funny looks and said that I should have been out playing football or some other youthful past-time. Even though both ideas never came to fruition, I still felt that at the time they could have worked. I’ve always wanted to make money from a very young age, I’ve always had an interest in business and I’m not really sure where it came from. I do however believe that entrepreneurship is something that is instilled within our genes, just like being creative.

It’s not a bad thing…

If you look at a list of top entrepreneurs, the people involved generally started making their businesses and money well before they were 30. Most 30 year old people haven’t even achieved a management role with their companies at that age yet, young entrepreneurs who have created their idea in to a business have often started making serious cash.

The question is, why is it so wrong for young people to be entrepreneurs? Would it really be beneficial for them to have more of a ‘life’ and be more child-like by playing football/rugby on a Saturday instead of scheming away on their new business idea? Should adults hold back the thought process because they think it is wrong?

Making £2 per pathway

During the Christmas break, we saw about 12 inches of snow fall over a weeks period and our entire street came to an absolute standstill. Under the snow there lay at least an inch or so of solid ice which showed no signs of defrosting because of how cold it was. There was no movement from cars let alone anyone wishing to gamble on the ice covered pathways. One Sunday morning there was a knock at the door, living in a quiet street it’s usually odd for us to get visitors when we’re not expecting them. On opening the door there were two young guys, about 14/15 years old holding shovels and brushes.

They came up with the idea of helping everyone to get mobile by clearing the pathways of ice and were charging £2 a garden path. Genius! They must have cleared around 60 houses that day giving them £60 each for a few hours work. I couldn’t help but be impressed that they had used their own initiative to make some extra money from the bad weather.

Whilst this was a very small show of entrepreneurship, they still went out to make money from something that hadn’t been done in the estate at that time. Who knows if they have another idea of making money for something else but I certainly don’t think they should be restricted in their endeavors. Who knows whether a £2 pathway could turn in to a £2 million business in ten years time.

Never hold back…

I just wanted to say that you should never hold back if you think you have a great idea. Give it a whirl, if it doesn’t work out then you’ve just acquired one of the best things in life. Experience.