Summer is almost here. There are a lot of teens who start thinking about earning extra money during the months between school terms. Perhaps your teen is looking for a job or maybe he or she is thinking of starting a business.
How about if we look at the benefits of each to help you and him decide which way to go?
Finding the Income Potential JOB. A set of hourly income is what you are guaranteed and only the amount of hours offered by the company.
If it’s Your Own Business. You will end up earning money based upon your hard work, creativity and innovation. There is potential for more money if you work harder even though it is not guaranteed.
The schedule JOB. Your schedule will be determined by the boss. You never know if he or she is flexible. Maybe they’re not.
Own Business. You may get to work your own hours. This may mean working more or less than an hourly job. Working around your life schedule is also possible.
Pay scale What’s the job? You can earn your hourly rate and not much more. If you want to earn more, it will depend on whether or not the boss can give you more hours.
Own Business. The value of the work that you are doing and your asking price is what you get to determine. Most of the time, you can earn more money with fewer hours.
The People Here’s the job. You may have a great boss and co-workers who you enjoy. Or not.
Own Business. Dealing directly with your customers is what you get to do. You get to choose whom you do business with. Your livelihood depends on it which is why you need to learn how to work with people well even if you may not like them.
The Experience. JOB. You will be trained on the job.
If it’s your Own Business. You are your own teacher. The more your business will grow and develop the more you commit yourself to learning.
It’s a tough choice. In case starting a business completely on his own is something your teen isn’t ready to do, then work together with him to make a family business a success. However, the key is that he has to want it or you will 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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