business plans

Writing a Business Plan with Help from a 14-Year-Old Entrepreneur

In Part One of Wordsmith Craftsman (my writing course for high-schoolers), I included an assignment for “Business Reports.” Some parents were confused by this—what do business reports have to do with composition? To be honest, it was originally my husband’s idea (he who had begun his own consulting business and ran it successfully for 12 years). When he suggested it, my first thought was, “What do business reports have to do with composition?” But upon further reflection, I saw how it could fit. Part One of Wordsmith Craftsman is all about how to organize your thoughts: note-taking, outlining, summarizing, and communicating by letter. A “Business Plan” puts all that organization to practical use.

Recently I reviewed Bee Fearless by teenage corporate mogul Mikaila Ulmer. In many ways, Mikaila is a typical 14-year-old (probably 15 by now), even if exceptionally energetic. But she’s the CEO of a multi-million-dollar business that began as a lemonade stand. If you’ve seen Me & the Bees Lemonade in your local Whole Foods or specialty store, or even bought a bottle, you may know that the idea came from a concern for the diminishing bee population. That’s why it’s sweetened with honey. The rest of the story is a combination of focus, personality, good timing, excellent mentorship—and planning. It’s rare that circumstances line up the way they did for Mikaila, but anyone can shape an idea into a workable plan, whether it’s how to start a local lawn business or how to get into your first-choice college.

And, not to dish on college (or not much), learning to form a workable plan—and then work it—is worth as much as a Bachelor’s in Communications.

The “Business Report” section in Wordsmith Craftsman addresses feasibility studies: determining the steps of a goal and the action to take, and finally determining whether the plan is do-able or desirable. It’s meant to help the student think through a goal before tackling it, and many of us could have done more of that at certain pivotal moments!

Bee Fearless goes more into detail about starting and running a business, which may or may not be the goal. But the practical tips make it worth a read for the practically-minded student. Or the student who could use a little more practicality. Mikaila began with a simple business plan of product development, budgeting, and growth. Her current business plan involves company description, market analysis, product line, sales, funding, and financial projections. Most of us will never get there. But we could all use a little more intentionality and focus.