Start a business in 60 minutes Richard Eastes Mentor River City Labs Mentoring startup businesses with their branding, online marketing and technology.

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Start a business in 60 minutes Richard Eastes Mentor River City Labs Mentoring startup businesses with their branding, online marketing and technology.

Who am I? Some successes. Some failures. Volunteer Mentor at RiverCityLabs. Sometimes I didn’t like some subjects. I now need them all in business. Science experiments. English. Maths. Art. 72% of current high schoolers want to run their own business.

Kids who have successful companies Robert NayRobert Nay - 14yo Made a game, bubble ball. Self taught at his library. Made $2m in two weeks. Nick D'AloisioNick D'Aloisio - English-Australian 15yo made news reader at his parents house. At 17 he became a millionaire with a deal at Yahoo. Sold for $30m. Leanna ArcherLeanna Archer - At 9yo, she started selling homemade hair products to family and friends. Now 17yo, her business has grown. It’s estimated to be worth around $3m.

Adversity and My Experience Adversity makes great entrepreneurs. Look at Richard Branson and Elon Musk.Richard Branson Elon Musk My experience. Bullied a little. Grades weren’t great. Tried to make friends with everyone. Didn’t work out. Didn’t always fit in. Bit socially awkward. I’m telling you this because… You might see other kids like this. I would have loved the thought of school being involved with business. If I could send a message to kids at school who aren’t happy, due to adversity…. “The harder it is now, the easier it becomes later”. Look at the bullies as people who are making you stronger in the long run.

I’m not the only one Branson. Had dyslexia. Teachers thought he was stupid and lazy. Musk - Was bullied - Moved. The Aldridge foundation found that 7/10 successful entrepreneurs cite traumatic childhood experiences as a reason for their success.Aldridge foundation Why? Why does Adversity help? Even being left handed can help. Does it force people to want more in life? Business is hard. When there are downs, you need to have the desire to run at problems head on. Not to give up. In my experience, past adversity helps.

Let’s start a business 1.Idea - What problem are you solving? Idea needs to be worth $$. Execution is EVERYTHING 2.Is it a unique idea or is it 10X better than current options? 3.Shared ideas are better than secret ones. “People who need to steal an idea can’t make it happen and those who can make it happen don’t need to steal ideas” 4.Focus. Being the best at one thing is worth more than being okay at everything. 5.Who wants this problem solved? Who is the customer? What is their name, age, fav TV show? Gather lots of little details. 6.Speak to 100 people. Ask lots of questions. 7.Business Name. Don’t go with the obvious! 8.Pricing. Double it. Add unaffordable option. Experiment! X4 9.Costs. Actual and profit projection. 10.Marketing - Promotion - Writing - Speaking. 11.Never give up.

Events for Youth Startup Catalyst - Lemonade Stand - Startup Weekends. Any of them. -

Main Points for Startup Entrepreneurs Failure is a friend, not an enemy. If you aren’t failing at something, you aren’t working on hard enough problems. This is safe place to fail. The worst enemy of a great idea is a different great idea. Focus! Get out and speak to people. What problem are you solving?