Money and Me: So you want to start a business and you are still in school?

Your Money with Michelle Martin

He started a company accidentally at 14, and recently his non-profit organisation raised almost half a million dollars. Investor and Founder Billy Naveed started a non-profit organisation called Young Founders School to help children of all backgrounds gain access to the resources they need to build their own companies. So what do young entrepreneurs need to keep in mind when building a business?

Here are some additional points from our discussions with Billy that didn't make the show but which could help you start your business today. "Do not feel shy about charging for your time and skill. There is a case study of a company selling handmade soap. They went from charging a discount to Watsons to 3 times the price because they rebranded as artisanal soap. You don’t need to raise money - it’s a disease that inflicts all entrepreneurs that want to raise money as soon as possible. Instead think of businesses that produce profits. That’s the best source of funding. Do it yourself - the biggest cost of starting a tech business is the software development. You can learn the basics of app development in 20 hours or use low code or no code tools to produce a version of your app with no experience. Save costs and do it yourself." - Billy Naveed.

Find out more at: www.youngfoundersschool.com

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