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8 Kids With Businesses Share Their Best Money Advice

These kid entrepreneurs share their savvy business tips.

You might recollect there'due south nothing cuter than a business-minded child working a quaint lemonade stand. But in that location are young hustlers out there who accept taken their humble ventures and turned them into lucrative businesses. These kid entrepreneurs know that age doesn't have to exist a barrier to making, saving and sharing coin. Here are the best coin tips these successful young entrepreneurs have learned.

Age doesn't matter; persistence does.

"You're never as well young to brand money," said Lily Sturtevant, a 12-year-onetime entrepreneur who creates custom cord art designs. She started her Instagram concern, Fine art For Your Soul, a yr ago with the support of her parents. "I started this concern when I was 11, and I've been pretty successful. I call up persistence helps."

Save toward a goal.

"I recommend saving money toward a goal," Sturtevant said. She saved the first round of money she earned with her creations to buy an iPhone 6s. She recommends saving with something specific in mind because "it builds confidence that you can practice it again."

Stay social media savvy.

"Information technology's a good idea to use social media to sell your stuff," Sturtevant said. The digital native understands how to use the power of the internet to earn coin online and achieve a wider audience. She advertises her products on Instagram and Facebook and draws inspiration for new ideas from Pinterest.

Believe in yourself.

Moziah "Mo" Bridges was only 9 years old when he started selling bow ties on Etsy  because wearing them made him happy. After he and his mother appeared on the TV show "Shark Tank," the young entrepreneur's concern blew upwards, communicable the attention of national brands. His advice for other budding entrepreneurs is unproblematic: Believe in yourself. Bridges  told  the blog Beaut&Animal Co. in 2017 that people "tin can reach their dreams past assertive in themselves, looking for opportunities, working hard and [using the support of] family and friends ."

Donating keeps yous humble.

Bridges is not only an entrepreneur merely a philanthropist, too. In 2014, he spent $1,600 on 10 kids from his hometown of Memphis, Tenn., ensuring they could nourish Glenview Summer Camp, HuffPost reported.

According to HuffPost, Bridges wrote: "Memphis is ranked the highest of child hunger; most kids merely get a repast when school is in session. At the community center, the kids get a meal and play time. Giving back to my community really helped me feel humble. Information technology too makes me smile considering I see other kids smiling and enjoying the camp."

Find proficient business partners.

At ix years old, Me & the Bees Lemonade founder and CEO Mikaila Ulmer scored a $60,000 investment on the ABC evidence "Shark Tank." Now xiv, the young CEO told CNBC Make It that business organization owners shouldn't try to do information technology alone: "I've learned that it'south important to find good partners and mentors to aid you forth the mode because information technology's really hard to abound your visitor when it's just you."

Work hard for the money.

Ulmer's parents taught her at an early age about the importance of working hard in gild to earn money. She's since taken heed of her parents' advice and turned her bright ideas into a successful business.

"As I grew upward — and I'yard still growing up — my parents didn't purchase anything for me," Ulmer said. "They fabricated certain that I worked for that money. So if I wanted this toy, they would have me selling lemonade at the concern off-white or doing chores."

Let the passion drive yous.

Who understands improve than kids the value of having fun? Even when at that place's serious work involved, Ulmer noted that every prospective business possessor should "start a company that you are passionate about, that'south fun to you and that'southward unique."

Find a new market.

Zollipops is the abstraction of xiii-year-onetime Alina Morse of Wolverine Lake, Mich. The teeth-friendly lollipops are sold by prominent retailers like Amazon, Walmart and Whole Foods.

Morse'southward father told the Chicago Tribune in 2017 that the sugar-gratis candies served equally the answer to a question she posed to him when she was younger: "Why can't we have candy that'south practiced for y'all?" Morse's begetter encouraged her to take her curiosity further and research that possibility.

"I simply idea it would exist a good market because there's not really healthy candies out at that place," Morse said.

Morse did her research, somewhen developing her own epitome using natural sweeteners similar xylitol and erythritol to create tasty candies that are like shooting fish in a barrel on the teeth. The natural sugar alternatives present in Zollipops reduce the chance of cavities and tooth decay.

Do something unlike.

Morse spoke to Swaay, a digital platform dedicated to empowering women entrepreneurs, about Zollipops outselling the popular lollipop brands Dum Dums and Blow Pops on Amazon. "It's kind of crazy, being sold next with these brands, simply to top them in sales is insane and beyond my wildest dreams. I've found that parents pay more to get something that their kids will do good from. That'southward something that we're doing that nobody else has actually defenseless on to yet," Morse said.

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Follow your fun.

At age xvi, Mercer Henderson has experienced more than success than many adults. The 16-year-former founded two apps, Audiots and FriendIts, nether the company 4GirlsTech. Audiots allows users to download "soundmojis" — piddling snippets of audio you tin ship past text. FriendIts allows teens to borrow and lend items from their closets. She told Entrepreneur, "If at that place is something y'all like to do, think about if other people like it besides. And so endeavour to create a more fun or uncomplicated manner to do information technology."

Stay positive and don't worry about the contest.

Cory Nieves was simply 6 years quondam when the idea for Mr. Cory'southward Cookies came to him. He was tired of taking the bus to school and wanted to raise money for his mom, who couldn't afford to buy a motorcar. He started out selling hot cocoa and was then successful that his mother supported him as he expanded into cookies.

"You have to believe y'all can do tin can practice information technology," Nieves told Ebony in 2014. "I don't believe in contest. I believe all of the states in the cookie business accept plenty people out there to effort all our products. There'due south no room for negativity; you lot have to stay positive."

Save your (birthday) money.

Fourteen-year-former Ahnicka Kjaer, founder of Hooves And Paws, her personal business concern that offers handmade collars, leashes and halters for dogs and horses, claims to take always been an entrepreneur. In 2014, Kjaer started selling Christmas wreaths made from cuttings of the copse on her Occidental, Calif., property. Then, through 4-H, she was exposed to an entrepreneurial programme that got her thinking more widely.

The self-proclaimed brute lover establish she was spending too much money on collars and halters to make her animals look cute — so she started to make her ain. With the aid of her grandparents, Kjaer obtained a sewing automobile and used the altogether money she had saved up to get Hooves And Paws off the ground.

Reinvest your profits.

Kjaer realized she needed to develop a sizable inventory since she'south busy with schoolhouse and homework during the calendar week.

"I reinvest my profits into my inventory," Kjaer said. "Every fourth dimension I sell collars, I lodge more supplies." She estimates that she has near 100 premade items that are ready to ship out at any given time. "During the school week, I don't take to pull out my sewing motorcar."

Don't ignore the power of a discount.

Matthew Fitch of Morgan Hill, Calif., began selling his art at the age of 4 when his mother turned some of his paintings into cards and sold them at a craft upshot. Now 12, this successful kid entrepreneur sells original paintings, including commissions, along with prints, cards, magnets, pins, bookmarks and mugs with his art on them locally at craft fairs and gift boutiques.

When sales slow down, Fitch said he "[offers]  a discount to friends and family . This helps offload things that don't sell besides. A lot of times, if people go a discount or for complimentary, they tend to buy more than."

At holiday boutiques, Fitch said he'll "often make a special, unique matter for friends and family unit only," which he'll give away for gratis, or throw in as a gratis gift if someone makes a large purchase.

Strive for a personal touch.

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