In today’s digital age, it is becoming increasingly common for teenagers to explore various avenues to earn money online. Recent data has revealed that 2 in 5 teenagers in the US are actively engaged in online money-making activities. What’s even more surprising is that a growing number of 12- to 18-year-olds are generating more income through digital channels than through traditional employment in 2024.
Gone are the days of traditional teenage jobs like babysitting or working at an ice cream shop. The allure of making money online has inspired many young individuals to launch their first business ventures in the digital realm. Cameron Zoub, co-founder of Whop in Brooklyn, highlights how the barriers to entry for starting an online business have significantly decreased. With just a phone and an internet connection, teenagers can now easily set up shop and start earning.
According to research conducted by Whop, popular ways for teens to make money online include selling clothes, streaming video games, writing product reviews, securing brand sponsorships through social media, and engaging in drop-shipping. These avenues appeal to teenagers who have grown up witnessing the success of young entrepreneurs in the online space and aspire to replicate that success.
One such example is Tinus Klauser, an 18-year-old TikTok creator from Germany, who expanded his operations to include selling on Whop. By leveraging his TikTok following, Klauser now earns a substantial monthly income by teaching others how to go viral on the platform. Similarly, Lily Bond, founder of Spyce Girlz in Canada, started her spice company at 13 and achieved significant financial success during her teenage years.
The key to success for young entrepreneurs lies in pursuing activities that they are passionate about. Dr. Rebecca Mannis advises teenagers to find something they love, learn practical skills related to that field, and stay true to their interests. Financial literacy is also crucial, as teens need to develop good financial habits early on, including budgeting and saving.
Keeping track of details and tasks is essential in the online space, where there are numerous moving parts to manage. Finding a system to organize information and stay on top of responsibilities is vital for success. Additionally, considering tutoring as a source of income can be lucrative for teens with specific skills or expertise in subjects like music, math, or languages.
Having a strategy and seeking guidance from experienced individuals in the online community can help young entrepreneurs navigate the digital landscape effectively. Building a strong online presence, whether through social media or other platforms, is crucial for attracting followers and potential customers. By engaging with their audience and creating valuable content, teenagers can establish a successful online business and make a meaningful impact in the digital world.
