How New Platform, Mighty, Empowers Kids To Become Young Entrepreneurs

A company in Los Angeles has launched a new platform, dubbed Mighty, to help kids run their online store and develop their entrepreneurial skills.

Described as a crossbreed of a typical lemonade stand and an e-commerce site like Shopify, Mighty is from co-founder Ben Goldhirsh, who admitted that he got the idea from observing his children.

Goldhirsh said that his two daughters started making and selling bracelets to their friends, and it gave them better lessons in Mathematics than their after-school tutoring lessons. His children were also less enthusiastic about studying after school, so he encouraged their love for selling.

The dad also asked his daughters to develop a business plan and marketing pitch for their bracelet business, and they succeeded in impressing him. So, Goldhirsh asked around about how to create a platform for kids like her daughters. He met Dana Mauriello, who had five years of experience with the small business shopping site Etsy.

The business partners are now putting up Mighty in the beta phase, where at least 3,000 young CEOs are running their shops.

How Kids Can Earn from Mighty

Children on the Mighty platform sell customized stickers, totes, caps, and other items. The items are printed by Printful, Mighty's partner in this venture. However, the platform's feature still doesn't allow for selling items made by the kids themselves. The children also cannot offer services like mowing the lawn or dogsitting.

Since it's still in the beta phase, Goldhirsh said they would eventually incorporate these changes and potentially add a subscription service. Mighty has a community online where members can share tips on making a sale or ideas on other features to add to the platform.

For every item sold on the children's Mighty store, the company makes a percentage. However, some parents might be wary of letting their children use the platform if they are not yet ready for the challenges of running a business.

Mauriello said that they have yet to encounter feedback relating to children being discouraged with their businesses. She believes that the online community guiding the young CEOs has been helpful. Mauriello shared that she is active in that community and engages with the children regularly.

Shopify Launches Kids' Section

Meanwhile, Shopify, one of the most popular e-commerce platforms for adults, has also launched a Shopify for children with a free Shopify Kids Business Starter Kit. The guide and activity book applies to kids between 9 and 12 years old, encouraging them to create their online store on the platform.

A study from Stanford has shown that entrepreneurs who start selling as a child or teenager have higher chances of succeeding in business as an adult. Running a business at a young age helps children develop problem-solving skills and critical thinking. Both are important skills to learn in life.

These days, kids can also expand their business operations by incorporating other platforms like YouTube to feature their product items and other ideas. It helps children build their confidence, improve their talents, and develop their interests.