Yes, teenagers can make passive income from Internet marketing. Here’s living proof:
Isn’t she amazing?!? 🙂 Yes I’m a little biased, since she is my offspring. But still, you have to admit it’s impressive when a kid can start an online business and make it onto the speaking circuit by the age of 16, and have such composure in front of the camera.
I remember when I was a teenager trying out Junior Achievement, going to a couple of meetings, and thinking how incredibly lame it was. The meetings were more like Arts & Crafts class than anything resembling real entrepreneurship and business. I wish I had had the opportunities that Chloe had when I was her age.
Our school systems still don’t adequately prepare kids to be entrepreneurs and business people, as Chloe notes in one of her Huffington Post articles. But for those kids who are motivated, they can find the opportunities elsewhere.
My advice for those doting parents of a budding entrepreneur is to first read the book Rich Dad Poor Dad. It’s not all that well-written, but it has some really important concepts, ones that I instilled in my kids. Such as:
- Don’t work for a living, have money work for you
- Build assets that make money for you while you sleep
- Assets put money in your pocket month after month, liabilities take money out of your pocket month after month (thus a house you own and live in is a liability and NOT an asset)
And for those teens wondering where to start, first step is to pick something you’re passionate about. If it’s only about the money, it won’t be fun and you’ll lose your motivation when the going gets tough. For Chloe it was Neopets, but now she’s an “adult” (as she reminds me all the time) and not that into it anymore, so she’s delegating posting to a ghostwriter she found on oDesk. With her attention turning to film and to becoming a documentary director, my advice to her is to start a site or blog on that topic, perhaps more specifically on homegrown documentary videos by amateur filmmakers.