It seems like more and more people have a side hustle these days – even teens. Especially teenagers, perhaps.
New data reveals that 2 out of 5 teens in the US are actively making money online.
What’s more, a growing number of 12 to 18 year olds are expected to earn more money through digital channels than through traditional employment in 2024.
So are the days of babysitting, ice cream shops and lemonade stands gone? No, but making money online is easier than ever, which has inspired many young people to start their first business initiatives in the digital sphere rather than IRL.
“In the past, you had to find somewhere to sell products, set up a payment platform, establish a network, and build a community of potential customers before you could even think about starting your own business,” says co-founder and Cameron. Zoub said. Chief Development Officer whoop In Brooklyn, an online business platform that has researched the demographic. “Now, all you need is a phone and an Internet connection.”
According to a Whoop survey, the most popular ways teens are making money online include selling clothes, shoes or apparel accessories, streaming video games to earn in-game currency and video game tournament prizes, reviewing product reviews, social media accounts. Brand sponsorships and drops are included. -Shipping (buying and selling products).
Zoub isn’t surprised that these are popular ways for teens to make money.
“They’ve had the benefit of growing up with the Internet and seeing those areas grow,” he said. “These teens see other successful young entrepreneurs making money online and they want to be a part of it, too.”
Tinus Clouser, 18 years old tiktok The manufacturer based in Germany has recently expanded its operations.
“I started selling on Whoop around November 2023 because, in addition to the TikTok pages I run, I wanted to create another reliable source of income for myself,” he said.
Clouser now makes $25,000 to $50,000 per month by teaching others how to make money and go viral on TikTok. “This is a great way for me to make a steady income doing what I’m passionate about: helping people,” he said. “We live in a world where everyone can become an online entrepreneur.”
Lily Bond, founder of spice girls Agreed in Ottawa, Ontario, Canada. He started a spice company at the age of 13 and earned less than six figures annually during his teenage years.
“I founded my business because I was trying to buy a laptop for high school,” said Bond, now 21. The idea that came to my mind led me to earn money myself.”
Learning to be financially literate and responsible at the age of 13 was a very empowering experience, Bond said. “Earning 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 budding young hustlers can get ahead on their virtual path and make money in the digital age.
do what makes you happy
Whatever path you choose online, it should be something that lights you up from within.
“Find something you love, see what others are doing, and learn practical skills related to that area,” says Dr. Rebecca Manis, Ph.D., founder of . Said. Ivy Prep Learning Center,
Zoub says it’s easy to get caught up in trying to copy what other people are doing or thinking you need the next big idea, but you can’t fake passion.
become financially literate
“Although earning income is exciting, teens need to learn how to develop good financial habits early on, including budgeting, saving, and even basic… Also includes investment principles.” talent resume(If earnings are substantial, you may need to involve an accountant.)
keep track
Being in an online space means there are a lot of details to track, “which really puts a load on our working memory,” so Manis recommended finding a system for tracking important information and tasks, whether he is using it Evernote Apps, post-its or even voice memos.
“Just as financial success comes from better priorities and budgeting, the same applies to staying on top of the details with strong executive functions,” he said.
Consider Tuition
Whether you play cello or chess, there’s probably an online market for your talent. Same is the situation for mathematics experts and bilingual gurus.
“Start by signing up on a platform like vipkid to teach English, or chegg tutors To a wide variety of other topics,” 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 good headset and webcam, and learn how to use interactive tools zoomWhiteboard feature or miro For collaborative learning. “Don’t forget to ask for reviews from your students to build your reputation,” he said.
have a strategy
Zoub stressed the importance of joining as many online communities as possible and seeking guidance from people already active in that field.
“You’ll learn a lot more from people who are working in a particular world than you will from a textbook,” he said.
get followers
Mastroni shared that another route you can take is to develop a niche Instagram Create an account and focus your attention on reaching 10,000 followers, which opens up opportunities for brand partnerships and sponsored content.
“Start by choosing a specific focus that aligns with your interests and expertise, such as vegan cuisine, minimalist lifestyle or urban photography,” he says.
Connect with your audience and similar accounts to increase your followers and use relevant hashtags to “increase the visibility of your content and reach a wider audience,” he said.
The bottom line: “When you’re building your business, build publicly. Get the audience excited about what you’re doing and make them feel like they’re a part of what you’re creating,” he said.
