Teaching Your Child to Start a Business in Atlanta Georgia
Atlanta is the most populous city in the state of Georgia in the United States, with a population estimated to be over five million. Considering the population of Atlanta, there’s a niche for everyone waiting to be carved out. Before you and your child can successfully start a business in Atlanta, you will have to make him understand that starting a business will not be as easy as eating a cookie, there are quite a number of things that you both have to put into consideration: 1. Your child’s education Georgia law requires and mandates that a child should be educated in either a public, private or even home school from the age of six to sixteen. See to it that your child’s desire to start a business does not interfere with or hinder him from getting an education within this stipulated age. 2. Teach your child to write a business plan In order for your child to be successful in business, you have to teach him what goes into writing a business plan and they include: See to it that you make your child understand that a business plan is not judged by its volume but by its content. So he should as much as possible keep it short and concise. Just like every other kind of writing, teach your child that it is essential while writing a business plan that he knows and understands his audience. Make sure he learns to speak in a language that will be understood by his audience. For instance, if your child is a techie, and is presenting a business plan to people who happen not to be in the field, it is not advisable for him to bombard them with tech terminologies hoping to impress them because he will end up confusing them. Teach your child to be confident among his competitors, make sure he understands that no one knows everything that there is to know about the business world. Teach your child that in the long run, he will come to realize that most of his competitors just like him are learning as they go. Teach him the major components a business plan must contain which include: I. Executive summary This is a comprehensive overview of your business and plans. It is usually contained in the first two pages of the business plan. II. Opportunity This part of a business plan answers the following questions; what problem does the product you planning to sell solve? Do you have competition? Who is your target market? If your business plan can successfully and intelligently answer these questions then you are one step closer to helping your child start his own business. III. Execution A business plan is only an idea written on a piece of paper if in the business plan there is no step dedicated to how to lay the tracks on which the business will glide through. This is where you come in as a parent. A child may have a [...]