Teen entrepreneurs offer tips to peers on starting business

— -- Launching a small business can bring big returns. But it's anything but easy money. Running a firm takes stamina, creativity, discipline — and sometimes, even physical work.

"Starting your own business is more than just buying things and trying to sell them," says Amy Rosen, CEO of the National Foundation for Teaching Entrepreneurship, a non-profit organization.

NFTE, which provides entrepreneurship education programs to low-income communities, teaches skills such as negotiation and creating a business plan.

Enterprising kids can also turn to Junior Achievement for formal instruction and advice. Its 135 chapters in the U.S. teach entrepreneurship, workforce readiness and financial literacy.

For kids who want to get started right away, USA TODAY polled successful entrepreneurs and small-business experts for advice. Their tips:

• Don't let shortcomings thwart you. Everyone — from those with learning disabilities to those earning national scholastic honors — has the ability to become an entrepreneur, says Mark Victor Hansen, author of the soon-to-be-released book The Richest Kids In America: How They Earn It, How They Spend It, How You Can, Too.

• Expand upon your interests. "Find a task (or) work you like and that is in demand," says Lucas Rice, 18, who runs a successful landscaping business in Loveland, Ohio. "With my business, I like to be outdoors and to work with my hands, which was one of the reasons I chose landscaping."

• Create a formal business plan. "Put it all on paper in an organized and accurate fashion," says NFTE's Rosen.

• Scour for savings. Leanna Archer of Leanna's Inc. surfs the Web to find the best prices on everything from ingredients to product containers. Kids who buy supplies should also negotiate for discounts, Rosen says.

• Price wisely. "Feel around and see what other companies are charging," then price competitively, Rice says. "When you're starting out, go a little lower on price in order to start capturing some customers."