Will Your Teen Make Money This Summer

Summer is​ coming. Most teens start thinking about earning extra money during the​ months between school terms. is​ your teen looking for a​ J-O-B or​ is​ he or​ she thinking of​ starting a​ business?

Let’s look at​ the​ benefits of​ each to​ help you​ and him decide which way to​ go.

1. Income Potential
JOB: You’re guaranteed a​ set hourly income and only the​ amount of​ hours offered by the​ company.

Own Business: you​ earn money based upon your hard work,​ creativity and innovation. it​ is​ not guaranteed,​ but there is​ potential for more money if​ you​ work harder.

2. Schedule
JOB: Your boss determines your schedule. He or​ she may be flexible. or​ not.

Own Business: you​ schedule your own hours. This may mean working more or​ less than an​ hourly job. you​ can work around your life schedule.

3. Pay scale
JOB: you​ can earn your hourly rate and not much more. the​ potential to​ earn more is​ dependent on​ whether or​ not the​ boss can give you​ more hours.

Own Business: you​ determine the​ value of​ the​ work you're doing and your asking price. you​ often can earn more money with fewer hours.

4. People
JOB: you​ may have a​ great boss and co-workers who you​ enjoy. or​ not.

Own Business: you​ deal directly with your customers. you​ choose whom you​ do business with. Because your livelihood depends on​ it,​ you​ need to​ learn how to​ work with people well,​ even if​ you​ may not like them.

5. Experience
JOB: you​ get trained on​ the​ job.

Own Business: you​ teach yourself. the​ more you​ commit yourself to​ learning,​ the​ more your business will grow and develop.

It’s a​ tough choice. if​ your teen isn’t ready for starting a​ business completely on​ his own,​ then work together with him to​ make a​ family business a​ success. the​ key,​ however,​ is​ that he has to​ want it,​ or​ you'll be fighting a​ losing battle. Start the​ discussion with him now and see if​ his own business might be the​ right choice this summer.

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