Teens, have you ever heard of Silicon Valley?
This area of the United States, located in Northern California, is the hub for the latest and greatest technological developments and companies. Are you thinking this environment might only be for the experienced businessman or woman? Think again!
A micro business can flourish in Silicon Valley. Take a look at 16-year-old Nick D’Aloisio.
For the longest time, Nick was frustrated with the time it took to search through massive amounts of information just to read the daily news. He brainstormed, and thought it would be neat to be able to find concise summaries of important news in one place.
Nick jumped on this idea by creating his own micro business, Summly.
Other people liked his idea so much that top investors gave Nick the funds to develop his product. Through this business, he has created a mobile application that uses an algorithm to summarize news articles. Nick says that this leaves just enough information “to sound clever at a dinner party.” Now, readers can keep up with the news in an efficient way!
This idea has landed Nick as CEO of his company. Take a peek at his company here. As he continues to develop and brand his product, there is nothing stopping Nick from success. Except perhaps juggling both his rising business and homework!
Courtesy of CNet
Nick’s story is a classic example of finding a need, in this case a way to keep up with daily news, and filling that need, by developing software to summarize that news. It’s a great idea! And he has seen success with it.
Teens, have you noticed something in your life that needs improvement? Brainstorming solutions could lead to a great micro business. (See my blog for a few ideas). Who knows? You could one day be a young CEO of a tech company in Silicon Valley!
Carol Topp, CPA