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Kids Getting Into Business For Themselves

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Aug 1, 2005 7:12 pm US/Pacific

Kids Getting Into Business For Themselves

by Jeanette Pavini
(CBS 5) Forget scooping ice cream or flipping burgers. More and more kids are skipping entry-level jobs and starting their own companies.

High school junior Natasha Spedalle is already CEO of her own business. She started selling discounted jewelry at street fairs and now business is booming.

"To have a successful company at this age is really rewarding," said Spedalle.

Reiva Lesonsky of Entrepreneur magazine says as more teens see layoffs in today's tough economic climate, they want to take control of their own futures.

"They're actually starting computer repair businesses, baby sitting services," Lesonsky said. "We'd get teenagers writing to me and saying, 'I want to do this.' So, we created a place where they can at least go and get information."

Entrepreneur stared a website called www.teenstartups.com. There are also courses, camps, and other programs to steer business-minded teens in the right direction. The National Foundation for Teaching Entrepreneurship has a office in the Bay Area.

"Our classes are built around making a business plan, presenting a business plan, doing your first sale, doing a complete marketing plan," said Steve Mariotti.

Craig North and his business partner Eric Johnson participated in a young entrepreneurs' crash course while still in high school. Neckties are their niche.

"With the profits that we have, we've put into portfolios for future investments," said North.

Their star product is the zip tie -- no knot required. Experts say picking a unique business idea is key. Then there's getting someone to fund the venture.

Spedalle's initial investment came from her mother. In North and Johnson's case, a teacher banked on their success.

"Our teacher gave us $5000 of seed money to get us going because he really believed in us," North said.

Now, they believe in themselves.

"Our plan to take this company to the next level is to be nation and worldwide."

(© MMV, CBS Broadcasting, Inc. All Rights Reserved.)

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