STEPHEN COhen has a plan to revolutionise the way teenagers create a new business.
Mr Cohen, the co-founder of the digital music service Beats 1, says the most promising thing about his approach is that it’s actually working.
“The teens are actually building a new generation of businesses, and it’s not just us,” he says.
Mr Cohen believes the biggest challenge in business is not getting more kids involved in the business, but rather getting them to feel involved in it.
He says he’s tried to help teens with a variety of things, such as setting up online classes and giving them mentors.
The key to the successful teens, he says, is that they need to feel invested in their project.
As well as helping them get started, he suggests a few things for teenagers to try, such a mentor, a mentor group and so on.
Mr Cohen says he has tried to give them advice about business, so they know what they’re getting into.
They also need to be aware of the risks of doing something that they might not like.
This is because the riskiest thing a teen does is get caught in a bubble, Mr Cohen says.
“You might not be able to escape it and get back to your normal life, so you need to get back out there and make something great.”
For young entrepreneurs, Mr Cohen suggests they start by talking to a business owner.
“The biggest thing I would say to the young people that are trying to start businesses is don’t think you’re going to be successful, just go out there with the passion you have,” he said.
Beats 1 has now launched in more than 100 countries and Mr Cohen believes he has a strong foundation in Australia.
“It’s an Australian brand and it has grown here in Australia,” he told the ABC.
“There’s a huge opportunity for us in the world, it’s a great place to start a business, and the only thing I can say is I think the biggest thing for me is to do it with my own two hands.”
Read more:Beats music service launches in AustraliaThis story originally appeared on ABC News.