Woodgate Young Entrepreneur.
Meet Elka, a vibrant young entrepreneur from Woodgate who has turned her passion for fashion into a thriving business.
Originally operating from her garage, Elka creates and sells beautiful scrunchies and handmade jewellery. What started as a small hobby is quickly blossoming into a sustainable business model, thanks to her creativity, determination and family support. Elka now showcases her products at local markets, where her unique designs catch the eye of those looking for unique handcrafted gifts. With every sale, she reinvests her earnings back into her business, allowing her to expand her product line and reach more customers.
It is impressive to see young people like Elka getting into business at an early age. There are a range of life skills that can be learned by simply taking a product or service to market. These include:
Financial Literacy: Understandingbudgetting, pricing, and reinvesting profits helps young entrepreneurs manage money eff ectively.
Time Management: Balancing study, business, and personal life.
Problem-solving: Facing challenges in business enhances critical thinkingand creative solutions. Navigating laws and purchasing insurance enhances awareness of economics and legal issues.
Communication Skills: Interacting with customers and promoting products enhances verbal and written communicaton abilities.
Resilience: Learning to cope with setbacks and failures builds perseverance.
Networking: Building relationships with other entrepreneurs and mentors helps develop social skills and expand
opportunites.
For aspiring young entrepreneurs, reading can be invaluable. “Rich Dad Poor Dad” by Robert Kiyosaki offers essential financial lessons, while Richard Maybury’s “Uncle Eric” series provides insights on economics and freedom. Additonally, “Capitalism for Kids” by Karl Hess encourages entrepreneurial thinking from a young age, helping to cultivate the next generation of business leaders.
August 2024 – Chitchat Newspaper