program components...• we call this having a “fanatical” or “passionate” crowd of people...

• Weekly webinars

• Monthly calls

• Challenges

• Tax Information

• Events: Mastermind – China – Vidcon

• Where to email for support

• support@youthinbusiness.com

Program Components

Facebook Grouphttps://www.facebook.com/groups/591377517925966/

Example of The Week• Ella

• Created & selling

succulent teacups

• Bagging horse poo to sell

Example of The Week

• Ned & Grace

• Made & sold cupcakes for

Father’s Day

Book of the month:

Rich Dad Poor Dad For Teens

• Week One Reading:

• Introduction: ‘Your Journal To Financial

Freedom Begins Here’

• Chapter 1: ‘A New Way Of Learning’

• Chapter 2: ‘The New Rules For Making Money’

Questions to Ponder:

1. What does Robert Kyosaki share in the “thinking in numbers”

section of the introduction? What are your thoughts on this?

2. Dr Gardner’s intelligences are listed in chapter one. What learning

style/s do you think describe you?

3. Think about what your winning formula is. How can you use this

to your advantage in business?

4. Reflect on the difference in responses from Robert’s “Rich Dad” &

“Poor Dad” in chapter Two? What thoughts & feelings come up for

you as you read through them?

How To Book Calls

• Platinum and Gold members

• Accountability Calls

• Silver Members

• Strategy Calls

• Access for Gold and Platinum members this week

• We will be creating your account and sending you access

Click Funnels

Program Resources

• Youth In Business members area

• Media Club

Tax link for kids businesses

• Starting a business as a young

person

• https://www.business.gov.au/pl

anning/new-

businesses/starting-a-

business-as-a-young-person

• Structure, ABN, TFN, and More

• Introducing the “10 point checklist to tell if

your idea is a goer”

• It will quickly show you if your idea is a

goer and save you time and money by

letting you know before you start if your

idea is going to work

The 10 point Idea Testing Checklist

• Here are TEN THINGS that a good business

must have. When you come up with a new

business idea, run it past this checklist.

• We suggest you read these things together

as a family, and discuss what they mean

before you start coming up with business

ideas.

• That way you’ll already have an idea of what

you should be looking for.

10 Things A Good Business Must Have

1. You’re excited about the idea

• Why is this important? Because growing a business can

be hard work!

• If your business is boring then you won’t be motivated to

push through the tough times.

❏ Yes ❏ No

The 10 Things A Good Business Must Have

• Maybe you’ve heard people say things like “If only I could

get….”,or “I wish there was a better way to…”.

• When you show your product or service to

these people, they are very likely to buy.

• We call this having a “fanatical” or “passionate” crowd of

people who are really keen to buy your stuff.

❏ Yes ❏ No

2. You’ve seen people who really

want what you’re offering

• One of the most important parts of your

business is your MARKETING

• It’s even more important than what you sell (your product or

service). You can have the best product in the world, but if no

one knows about it, then you won’t make any money.

• How easy will it be to find your customers and tell them about

your stuff? Do they all live in your neighbourhood? Do they all

hang out at the same place? Do they all read the same

magazines, or visit the same website? Can you find them

easily on Facebook, Instagram, Twitter or Youtube?

❏ Yes ❏ No

3. It’s easy for you to find people to sell to

• They are willing and able to spend money on what

you’re offering.

• They’re not on a really tight budget, counting every

penny.

• The customers you want are the ones where price is

not such an issue for them. A good way to tell is to see

if they spend money on other things that are similar to

what you’re selling.

❏ Yes ❏ No

4. Your potential customers

can afford your stuff

• By that we mean that your product is easy and cheap to produce,

or your service is quick and easy to deliver.

• That gives you a higher PROFIT MARGIN. In other words, you

make more money on each sale.

❏ Yes ❏ No

5. It’s easy for you to create your

product or deliver your service

• For example, selling Fax Machines (ask your mum and

dad if you don’t know what a fax machine is) is not a great

business, because hardly anyone uses a fax anymore.

• If your business is in a growing

area then there is lots of room

for new businesses, and lots of

new customers to sell to.

❏ Yes ❏ No

6. There are lots of people interested in what

you’re selling, and the number is growing

❏ Yes ❏ No

7. You have something different from

what others are selling

• You don’t want to be what we call

a “me too” business.

• The best businesses are the ones that are OUTSTANDING. You

don’t have to be the best, but you do need to be different.

• Lucky for you, the fact that you’re a teenager starting a business

already makes you outstanding. People are likely to buy from

you because of this!

• Find other ways to be outstanding as well and you’re more likely

to beat your competition

• People should look at what you’re selling and say to

themselves “I’d be crazy not to buy this!”. Your offer should

be what we call a “no brainer”.

• You can do this best by really understanding what your

customer most WANTS, and giving it to them at a great

price.

❏ Yes ❏ No

8. You can provide great value

• We call this having a “backend” to your business.

• You see, the first time you sell something to a new customer, it

takes time and money to make that sale. But once they’re a

customer, it’s much easier and cheaper to sell them other

things.

• Your business will be much more

profitable if you have a backend

❏ Yes ❏ No

9. You have ideas for other things that

you could sell to the same people

• Some businesses have lots of government

regulation, (we call it “red tape”)

• Examples of businesses that are highly regulated include

plumbing, construction, and finance.

❏ Yes ❏ No

10. Your business is not something

that is highly regulated

• Ok so now that we have been through the

TEN THINGS that a good business must have.

• Its time to start brainstorming ideas….

• It’s important to come up with lots of ideas so

you can pick out the best one.

• If you already have a new business idea, run

it past this checklist. Be sure to answer yes to

all 10 points

Check Your Brainstorm

The Hot Dog Story

If we were to organise a selling

challenge with our own food stands

and we were in a competition to see who

could sell the most hotdogs,

What advantages would you most like to have

on your side to help you win?

What advantage beats all of these?

A hungry crowd!

If the crowd is starving, they don’t care about the

‘features’ of your product.

They are looking for a solution to their

“hunger problem”

We cant stress this enough - Before you start

creating your business idea, find a hungry

crowd first.

After all there is no point in making

hot dogs, if nobody’s hungry.

Two Types of Hungry Crowds

1. Passionate crowd - People who live,

breathe, eat and sleep the topic. For example

• Sports

• Animals

• Hobbies

• Crafts

• Music

• Fishing

• Entertainment

Two Types of Hungry Crowds

2. Desperate crowd – People who need a

solution to a problem. For example

• Pain relief

• Infertility

• Children with autism

• Debt/legal troubles

• Anxiety

• Funeral planning

Who is your

hungry crowd?

How Can You Find A Hungry Crowd?

• Amazon –book reviews give important clues for what people

are looking for when buying a book

• Clickbank - look for the products with the highest

gravity score

• Relevant forums – find out what people are complaining about.

What do people say they wish they had?

• Relevant Facebook pages – look at comments & profiles of

people, noting how old they are, family, hobbies etc. (looking

for commonalities)

• Download from the members area

• Complete it for your best business idea

• Email it to us at support@youthinbusiness.com.au

and we’ll set a time to discuss it with you

Kids Biz Quick Plan

Quick Win Challenge

September…

Quick Win Challenges

• They are all designed around a business

concept to help you quickly learn the

concept fast

• Most of these challenges will include things where

you make quick money, others are longer term

concepts which will build a foundation for you to

make more money later on.

• Either way you will make money and learn

business concepts to build your business on.

• This month is the $20 Challenge. Buy $20 of any product,

add value and resell it. For example, you could buy $20 of

chocolates (in bulk), and sell in the lead up to Father’s Day.

• You have until 30 September.

• 2 winners this month!!

1. The person who makes the most profit!

2. The best video sent in to us of your journey!

• Questions to consider: How can you add value? Where are

your customers?

$20 - Quick Win Challenge

$20 Challenge!!!

Cool Prizes …

• Bragging rights and a place on the leader

board

• Entrepreneur of the month Certificate

• Family Pass Movie tickets

• Go in the running to win the Youth In

Business Cup!

Challenge Leader Board

Will It Be You???