The 10 Things YOU Need to Know About Running YOUR Small Business

10 Things Every Teen Needs To Know About Running A Small Business

Spirit, Mind, and Physical Health (Eat right, sleep, exercise, friends, family, community, and always do the right thing).

The Joy Of Business Opportunity / Recognition (Students should love business).

Economics of One Unit (You can’t do your break even, your competitive advantage, comparative advantage, your Return On Investment, without knowing this key component).

Don’t Compete, CREATE; Learn Your Comparitive Advantage.

Master Basic Marketing (Place yourself in your customers’ mind – Listen. The bottom line of your business is your customer).

Learn To Give Back To Your Community – Leadership (Business in itself is always pro-community).

Master Financial Statements (ROI and Breakeven for example. Students really need to know about this. Don’t get discouraged. Spend more time on this).

Learn How To Do A Basic Sales Call (The differences between features and benefits should be explained. Don’t do too much talking, listen and allow the customer to talk. You shouldn’t do too much talking on a sales call).

Learn How To Do A Basic Business Plan

Understand the Rule of 72 and how it helps You to Invest.