AuthorAnne Mangali

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5 Easy Steps for Teens in Starting an Online Business

Looking for ways to earn extra money during this quarantine period? 

Starting an online business would be a good idea. With this innovative technology today, communicating with other people has been a lot easier for people of any age, which is an important part of marketing. Payment transactions can be made through applications, making it easier for young people to deal with customers. But before going any deeper, here are steps students or young people can take in starting an online business.

Step 1: Conceptualize a plan for your online business.

In starting your own online business, first of all, you must form a plan. Think of what you want to market. It can be something you will make yourself (e.g. food, artwork, crafts) or something you will get from a supplier (someone that provides a product). Calculate the investments you will make and the estimated profit. Know who your targeted clients will be.

Tip: If you don’t want to start your own business but still want to earn extra money, you can look for a ‘work from home’ job that is suitable for your age and something you know you can do.  

Step 2: Seek the advice of an adult.

Talk to an adult, preferably, your parents about the online business that you want to start. This conversation will be beneficial because adults, like your parents, have more experience in managing finances. Engaging in meaningful conversation with them will also be a good bonding. They can also suggest ideas to make your business better.

Step 3: Prepare the products that you will market and the platform where you will post it.

After finalizing your plans, it is now time to prepare the goods. Make sure that the products you will sell are in good condition. Build the website or social media account/page where you will post the products. Design your chosen platform attractively to captivate potential buyers.

Step 4: Start and advertise your online business.

After the strategic plans and preparations, you can now start your online business. Be responsive and courteous in dealing with your buyers. Always assure that you are giving your clients the correct product or service based on their demand. To gain more clients, advertise your products. You can also ask your family and friends to help you with this.

Note: In this time of pandemic, if you’re dealing with the customer in person, observe proper health standards.

Step 5: Ask your customers/clients for feedback.

“Your most unhappy customers are your greatest source of learning.” – Bill Gates

According to Bill Gates, when doing business, through dissatisfied clients, you can obtain a lesson. Having this kind of customer means that you and your business still have room for improvement. The reason why your client was not pleased can be taken as constructive criticism to make your product better. Having good feedback can help you attract more customers while having bad feedback will be a great help in improving your product or service. No business is perfect, so don’t be discouraged whenever you make mistakes. Just make sure that you will never make the same mistakes again. 

Just like a traditional business, managing an online business is not that easy especially for young people. But following these steps might help in easing the challenge of running an online business. 

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8 Tips For Students On How To Save Money From Allowance

“Money speaks only one language, ‘If you save me today, I will save you tomorrow.

This quote states an advantage a person can get from saving money. Applying this to one’s life can help prevent possible financial problems in the future. The consistent practice of being wise in spending money will soon form into a habit which will be a huge factor for a person to be responsible for handling finances. This disposition, when accomplished at an early age, will help the young to realize the importance of decision-making when it comes to money.

For students who find saving money from their allowance a challenge, here are some tips to overcome these struggles:

1. Prepare your own food

Instead of buying meals in the school cafeteria that will cost more, bringing your own “baon” would be more economical. Through this, a larger amount of the student’s allowance can be saved.

2. Practice self-control when spending money

Refrain from buying unnecessary things. Ask yourself, “Do I really need this?” before spending money on something.

3. Be creative

When doing school-related tasks, use supplies that are available. Think of different ways on how to make use of the things around to make a good schoolwork. Do not buy compulsively.

4. Make walking as your main mode of transportation

If school is nearby, just walk instead of riding public vehicles. Walking will not only help in saving one’s allowance, but also in maintaining a healthy lifestyle.

5. Stay home

Avoid regularly going out on weekends or during holidays. As an alternative, spend time with the family or do something productive.

6. Make a budget

List all the necessary expenses in order to know the amount of how much of one’s allowance can be set aside.

7. Be with people that can help in saving money

Encouraging others to save their allowances would also be a good option.

8. Maintain practicing allowance-saving techniques

This is the most important part of saving allowance. If a student cannot maintain these, then setting aside money will not be easy.

Always remember this: We cannot control how much money we can get, but what we can control is how we spend what we have. Saving allowances will not only help students but also their families, for they can already depend on themselves whenever they need something for their studies (e.g. school supplies, unexpected school bills). Follow these tips with great determination to be able to achieve them. 

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