Do you have a child entrepreneur? Teenagers make money from online business

It seems like more and more people are taking up side hustles these days—even teenagers. Maybe especially teenagers.

New data has shown that 2 out of 5 teenagers in the US are actively making money online.

Moreover, in 2024, more 12- to 18-year-olds will earn more money through digital channels than through traditional work.

So are the days of babysitting, ice cream shops and lemonade stands gone? No, but it’s easier than ever to make money online, which is inspiring many young people to start their first business ventures digitally instead of IRL.

“In the past, you had to find somewhere to sell a product, set up a payment platform, build a network and build a community of potential customers before you could even think about starting your own business,” said Cameron Zub, co-founder and chief development officer at Oh! in Brooklyn, an online business platform that conducted demographic research. “Now all you need is a phone and an internet connection.”

According to a Whop survey, the top ways teens make money online include selling clothes, shoes, and clothing accessories, streaming video games for in-game currency and prizes in video game tournaments, product reviews, brand sponsorships through social media accounts, and dropshipping. – delivery (purchase and sale of products).

Zub is not surprised that these are popular ways of making money for teenagers.

“They had the advantage of growing up with the Internet and watching these fields take off,” he said. “These teenagers see other successful young entrepreneurs making money online and want to be a part of it too.”

Tinus Clauser, 18 years old TikTok The creator from Germany recently expanded his activities.

“I started selling on Whop around November 2023 because I wanted to create another reliable source of income for myself in addition to the TikTok pages I run,” he said.

Clauser now earns between $25,000 and $50,000 a month just by teaching others how to make money and go viral on TikTok. “For me, it’s a great way to make a steady income while doing what I love: helping people,” he said. “We live in a world where anyone can be an online entrepreneur.”

Lily Bond, founder Spice Girls in Ottawa, Ontario, Canada, agreed. At the age of 13, she founded a special company, earning six figures every year during her teenage years.

“I started my business because I was trying to buy a laptop for high school,” said Bond, now 21. “Now I could buy it myself, instead of asking my parents to help me, and I was able to raise funds from the idea I had in my head.”

Learning to be financially literate and responsible at age 13 was a very powerful experience, Bond said. “Making my own money at such a young age was one of the most incredible lessons I’ve ever learned,” she said.

Here’s how other aspiring young hustlers can pave their virtual path and make money in the digital age.

Do what makes you happy

Whatever route you take online, it should be something that ignites you from within.

“Find what you’re passionate about, see what others are doing, and learn practical skills related to that field,” said Dr. Rebecca Mannis, Ph.D., founder Ivy Prep Learning Center.

Zub points out that it’s easy to fall into the trap of trying to copy what other people are doing or thinking you need the next big big idea, but you can’t fake passion.

Become financially literate

“While making money is exciting, teens need to learn good financial habits early on, including budgeting, saving, and even basic investing,” said Lauren Mastroni, career expert and content writer. Summary Genius. (If the earnings are significant, you may need to hire an accountant.)

Follow up

Being online means there are a lot of details to keep track of, “which really puts a strain on our working memory,” so Mannis recommended finding a system to keep track of key information and tasks, whether it’s through Evernote app, Post-its or even voice reminders.

“Just as financial success comes from proper prioritization and budgeting, so does staying on top of the details with strong executive functions,” she said.

Consider tutoring

Whether you play the cello or chess, there’s probably an online market for your talents. Ditto for math geeks and bilingual gurus.

“Start by signing up on platforms like VIPKid for teaching English, op Chegg tutors for many other subjects,” Mastroni said. “These platforms allow you to create a profile where you can highlight your academic achievements and any teaching or volunteer experience you have.”

Invest in a headset and webcam and learn how to use interactive tools like Increaseboard function or Myrrh for joint learning. “Don’t forget to ask your students for feedback to build your reputation,” she added.

Have a strategy

Zub stressed the importance of getting involved in as many online communities as possible and getting guidance from people who are already in the space.

“You learn a lot more from someone who works in a particular world than from any textbook,” he said.

Get followers

Mastroni shared that another way you can go is to develop a niche Instagram account and aim to reach 10,000 followers, which opens up opportunities for brand partnerships and sponsored content.

“Start by choosing a specific focus that matches your interests and experiences, such as vegan recipes, minimalist living or urban photography,” she said.

Engage with your audience and similar accounts to grow your following, and use relevant hashtags to “increase the visibility of your content and reach a wider audience,” she said.

Bottom Line: “When you build your business, build publicly. Get the audience interested in what you’re doing and make them feel like they’re a part of what you’re building,” he said.