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The Young Entrepreneur's Guide to Starting and Running a Business: Turn Your Ideas into Money! Paperback – April 29, 2014
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Through stories of young entrepreneurs who have started businesses, this book illustrates how to turn hobbies, skills, and interests into profit-making ventures. Mariotti describes the characteristics of the successful entrepreneur and covers the nuts and bolts of getting a business up, running and successful.
- Print length496 pages
- LanguageEnglish
- PublisherCrown Currency
- Publication dateApril 29, 2014
- Dimensions7.4 x 1.26 x 9.21 inches
- ISBN-100385348541
- ISBN-13978-0385348546
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From the Publisher
Editorial Reviews
Review
--Inc. magazine
"The Young Entrepreneur's Guide is the bible of self-help. It not only tells the story of many young people who have made the journey to success and self-respect, but shows step-by-step how you can do the same."
--Jack Kemp
About the Author
Excerpt. © Reprinted by permission. All rights reserved.
Many people dream of owning their own business, being their own boss, and enjoying the reward of unlimited earnings. Entrepreneurship is the American dream. But most people hesitate to take the plunge. Like them, you may worry that you don't have enough money, time, or experience to start and operate your own small business.
Michelle insists that there is always time to start your own business, even if you're a single mother and a full-time college student. Michelle should know; at age nineteen, she started her own business while attending college and caring for her daughters -- Angela, three years old, and Erica, age eighteen months -- and her newborn son, Kristian. Before she started her clothing resale company, À La Mode, Michelle knew nothing about running a business and had very little money. When I met Michelle, I thought she had tremendous natural elegance and poise, but it was clear that she was living a difficult life as a single mother of three children. Today, she's a successful entrepreneur.
Like Michelle, most Americans earn money by working in business. Business is the buying and selling of products and services in order to make money. Someone who earns a living by working for someone else's business is an employee of that business.
There are many different kinds of employees. At Ford Motor Company, for instance, some employees build the vehicles, some sell them, and some manage the company. But they all have one thing in common -- they do not own the business, they work for others who do.
Entrepreneurs, in contrast, are both owners and employees. An entrepreneur is responsible for the success or failure of his or her business.
Sell Something for More Than It Costs You to Buy (or Make) It
Michelle loved fashionable clothes, but she lived in New Bedford, Massachusetts. The stores in New Bedford didn't always sell the latest fashions, and, when they did, they charged high prices. During an entrepreneurship class conducted by the National Foundation for Teaching Entrepreneurship, Inc. (NFTE), Michelle took a trip to Manhattan's wholesale clothing district. This visit gave Michelle her business idea. A wholesaler is a business that purchases products in bulk from the manufacturer and sells smaller quantities to retailers. Retailers buy small quantities from wholesalers and sell single items to customers. At each step along the road from the manufacturer to the customer, the price of the product increases.
Michelle was surprised that wholesale prices were much lower than the prices of clothing in stores. Michelle knew there were, in her hometown, many young women like herself who would love to buy the latest fashions at reasonable prices. During her visit to the wholesale district, Michelle learned that all she needed to do to be able to buy from a wholesaler was to apply for a sales tax identification number. Anyone can apply for a sales tax number by calling the state sales tax office and requesting an application for a sales tax number. After the application is filled out and returned, the number will be assigned.
Michelle decided to buy clothes wholesale and sell them for higher prices to her neighbors. She invited a dozen friends to her house for a clothes-buying party. If she sold them out of her home, Michelle reasoned, she could offer the latest styles at lower prices than the stores in her town were charging. Michelle had stumbled on the key to business success: Buy (or make) something for less than someone else is willing to pay to buy it from you! Before she visited the wholesale district again, she collected size information from her twelve friends and asked them whether they had any special requests. Michelle's customers are happy to pay the difference between the wholesale cost and the prices she charges. They know they are getting a great value.
Today, Michelle visits the wholesale district once a month and buys several hundred dollars' worth of clothes. There are many wholesalers in Manhattan, but Michelle has developed good relationships with a few whose products she really likes.
Michelle was afraid she would have to buy bulk quantities in order to get the wholesalers to sell to her, but she found that most of them are comfortable selling her as few as two or three items. They like dealing with Michelle because she doesn't ask for credit. She pays in full when she makes her purchases.
Michelle resells the clothes for around twice the wholesale price she paid. Sales are made from her home or on visits to customers' houses. Michelle's friends and neighbors are delighted to have a less expensive alternative to the local mall. Her customers also enjoy shopping in a more intimate setting.
As Michelle says, "Who would ever think a teenage mother with three children could ever own her own business and graduate from college?" After she finishes college, Michelle plans to open her own clothing boutique. She hopes her success will spark a revival of small businesses in her community.
Keystoning
In her entrepreneurship class, Michelle learned about keystoning -- buying a product wholesale and then selling it for double the wholesale price. For a simple business, keystoning is a good rule of thumb for covering your costs and making a nice profit. Like Michelle, many young entrepreneurs buy products such as lingerie, cologne, or watches from a wholesaler. You might buy T-shirts from a wholesaler for $3 each, for example, and sell each shirt to your customers for $6.
Product details
- Publisher : Crown Currency
- Publication date : April 29, 2014
- Edition : Updated
- Language : English
- Print length : 496 pages
- ISBN-10 : 0385348541
- ISBN-13 : 978-0385348546
- Item Weight : 1.41 pounds
- Dimensions : 7.4 x 1.26 x 9.21 inches
- Best Sellers Rank: #78,517 in Books (See Top 100 in Books)
- #26 in Venture Capital (Books)
- #404 in Entrepreneurship (Books)
- #1,063 in Education Workbooks (Books)
- Customer Reviews:
About the author

Steve Mariotti believes in the power of entrepreneurship to eradicate poverty and transform society.
An entrepreneur, teacher, author and lifelong student, Mariotti is best known for starting the Network for Teaching Entrepreneurship (NFTE) based on the insights he gained from teaching in some of New York City's toughest public schools in the '80s. Through his own teaching and through NFTE's international, Mariotti has helped more than a million students discover the power of business ownership. Verne Harnish, founder of the Young Entrepreneurs' Organization, now known as Entrepreneurs' Organization, and the Association of Collegiate Entrepreneurs, called Mariotti "one of the greatest teachers of our time."
From the World Economic Forum in Davos to the pages of the New York Times, Mariotti has spent decades fighting for the rights of entrepreneurs everywhere.
A native of Flint, Michigan, he graduated from the University of Michigan, Ann Arbor. He has also studied at Harvard University, Stanford University, and Brooklyn College.
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Reviews with images
Great read. Well put together!
Top reviews from the United States
- 5 out of 5 stars
Great Book for New Entrepeneurs! Very Clear and Simple to Read
Reviewed in the United States on January 13, 2021This book is very clearly written and explains everything so well with countless definitions and numerous examples to help you with starting your business. I was amazed at how simple and easy it is put. It makes everything less intimidating and motivates you into making the best decisions for starting.
5 people found this helpfulSending feedback...Sending feedback...HelpfulThank you for your feedback.Sorry, we failed to record your vote. Please try againThanks, we'll investigate in the next few days.Sorry, We failed to report this review. Please try again - 5 out of 5 stars
Great book!!!
Reviewed in the United States on January 8, 2020AMAZING READ!! I was a little apprehensive since it looked like a textbook in person, but this book is full of great tips, examples, and is very easy to understand. It’s hard for me to read a book if it’s not interesting and engaging from the beginning, but this book was hard to put down. Definitely would recommend!
15 people found this helpfulSending feedback...Sending feedback...HelpfulThank you for your feedback.Sorry, we failed to record your vote. Please try againThanks, we'll investigate in the next few days.Sorry, We failed to report this review. Please try again - 5 out of 5 stars
Packed with usable information
Reviewed in the United States on June 26, 2017Excellent book. It's easy to follow. I loved the real life examples. It starts from the beginning, each chapter building on the last one. It lays out each of the pieces of a strong foundation for any business, from micro on up.
I'm not young, but definitely an entrepreneur. This book is very helpful to me. Anyone with an idea, and not much else, can learn a lot by reading it. It is not intimidating. It is realistic and encouraging.
36 people found this helpfulSending feedback...Sending feedback...HelpfulThank you for your feedback.Sorry, we failed to record your vote. Please try againThanks, we'll investigate in the next few days.Sorry, We failed to report this review. Please try again - 4 out of 5 stars
Fantastic so far!
Reviewed in the United States on November 3, 2019I once was in Barnes and Nobles when I saw this book. I stopped and really enjoyed the first couple of pages. I didn't purchase the book. That was almost a year ago. I finally decided to go back and read a few more pages at the store and was sold based on the content. This book asks some very thought provoking points to help shape the readers mind to really considering a business and becoming an entrepreneur. The reason I did not give it five stars is because I haven't finished it. But its fantastic so far!
13 people found this helpfulSending feedback...Sending feedback...HelpfulThank you for your feedback.Sorry, we failed to record your vote. Please try againThanks, we'll investigate in the next few days.Sorry, We failed to report this review. Please try again - 5 out of 5 stars
Love love
Reviewed in the United States on September 22, 2020This book gives you so much information and the success stories is a plus. I haven’t completed yet but it’s a great source to have on your bookshelf.
3 people found this helpfulSending feedback...Sending feedback...HelpfulThank you for your feedback.Sorry, we failed to record your vote. Please try againThanks, we'll investigate in the next few days.Sorry, We failed to report this review. Please try again - 5 out of 5 stars
Gifted for an ambitious 8 year old
Reviewed in the United States on June 17, 2022I bought this as a birthday gift for my 8 year old nephew who is always trying to make money! He loved it and I'm told he reads it every night!
5 people found this helpfulSending feedback...Sending feedback...HelpfulThank you for your feedback.Sorry, we failed to record your vote. Please try againThanks, we'll investigate in the next few days.Sorry, We failed to report this review. Please try again - 5 out of 5 stars
Best Business Textbook
Reviewed in the United States on July 17, 2017Very easy to read but more like a textbook. Took me under 3-4 hours to read but gave a very good general foundation for business knowledge that is more than sufficient to help you know how to get on your feet.
5 people found this helpfulSending feedback...Sending feedback...HelpfulThank you for your feedback.Sorry, we failed to record your vote. Please try againThanks, we'll investigate in the next few days.Sorry, We failed to report this review. Please try again - 5 out of 5 stars
Just buy it.
Reviewed in the United States on February 25, 2016I just received this purchase and I've already gobbled up the first few chapters. This book is amazing. Not only is it filled to the brim with useful real-world examples and exercises, it encourages and inspires the reader. So happy with this book. Get it. You won't regret it.
16 people found this helpfulSending feedback...Sending feedback...HelpfulThank you for your feedback.Sorry, we failed to record your vote. Please try againThanks, we'll investigate in the next few days.Sorry, We failed to report this review. Please try again
Top reviews from other countries
thomas pellegrini1 out of 5 starsWorst book ever read - pretty useless if you have at least a double digit IQ
Reviewed in France on February 11, 2023I have read many books on different topics, and so far this is the worst book I have ever read.
I read all the comments and they seemed all positive so I thought it would be a great book
Turns out it isn't, I could barely even read it because of how boring and useless it is
It really seem like this book was an assignment someone had, and it had to be at least 450 pages so he kept writing not to say anything
It's poorly written, after each chapter I thought to myself what have I learned, and the conclusion always was the same : NOTHING
Maybe if you're like 15 or really don't know anything about life this book could be useful, otherwise I doubt it
I'm sorry but I don't need a book to tell me that if I need money to launch a business I can either use my money or use someone else's money, or again that my profit is my selling price to which I subtract my cost...
If this level on information looks interesting to you, go ahead, otherwise you will make more money by not buying this book ...
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Liya Yorker5 out of 5 starsFor future entrepreneurs
Reviewed in Canada on April 20, 2017I bought this for a friend but I started reading it before giving it to her. The content is very useful for anyone looking to start a business.
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ZM Red4 out of 5 stars...plenty of charts and graphs and other interesting tidbits...
Reviewed in Canada on January 1, 2017Great book. It was a lot bigger than I expected and reminds me of a textbook I might read in school. The content is very informative, even for adults, as it outlines some important topics people often forget about (such as legal matters). The reading can get a bit dry at times, but there are plenty of charts and graphs and other interesting tidbits that can give you a small break from reading plain text.
One star was deducted due to the fact that this book focuses on US laws, but rest assured, most of the information found here can be easily translated to our Country.
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