So far in my Business course, Dr North has said many times that starting a business in your teenage years can be very beneficial for you in the long run for many reasons. I agree with the reasons he lists (income, sense of responsibility, impresses future employers), and have come up with an idea for a business of my own. Today’s essay topic is “I will sell my business when it will be making [?] per year so that I can [?].”
If I am being honest, I always thought of my business as a ‘side gig.’ Of course, it would be amazing if my business could grow to a point where I would not need to do anything and can solely focus on my acting, but at this moment in time I am not sure how that would work. In my plan, my business will be writing books and publishing them. My goal is to write at least one fiction novel by the time I am 15 years old.
As a back of the envelope estimate, each book will sell for $5. Assuming the middlemen take 30% of the sales, I will receive $3.50 per book. If I sell a minimum of fifty books per month, I will make $2,100 in my first year. I realize that this is a relatively small figure, but I have yet to understand the genesis of publishing a book and getting it into the hands of my readers. Once I have figured that out, I will be able to duplicate that process in subsequent years, and have a better grasp on the profit and loss scenario.
As you can see, I have a general idea of how I want my business to unfold in my teenage years. As for when I become an adult, I will see how well my business is doing and go from there.