When students say, “I want to start a business,” they may imagine big ideas and instant success. In this episode of the NGPF Podcast, Kate Ashford of NerdWallet brings entrepreneurship back to reality in a way that’s especially helpful for high school classrooms. Here are six key lessons she shared.

1. Start with a real problem

Kate encourages students to begin by noticing frustration, not brainstorming logos. 

"What problem are you trying to solve? What frustrates you?

She says service-based ideas like pet care, rides, or event help often work best because they’re simple and meet immediate needs.

2. Simple ideas work

Students don’t need a groundbreaking invention to succeed. 

"It doesn't have to be a big idea to be successful. It can be very simple."

3. Marketing matters

A good idea isn’t enough if no one knows about it.

"Marketing is huge. If no one knows it's there, you're not going anywhere."

4. Use a business plan as a thinking tool

Even a short plan helps students anticipate real-world challenges.

"A business plan is so valuable... it forces you to think through things you might not realize you need to think about."

Pricing, costs, customers, and how money flows all become clearer when students write them down.

5. You don’t need a lot of money to start

Kate reminds students that many teen businesses can launch with little capital through bootstrapping, pre-orders, grants, or community support.

6. Reliability is a competitive advantage

"Half of being successful is simply doing what you said you'd do, on time," she says.

Showing up, being responsive, and delivering consistently often matters more than having a “perfect” idea.

This conversation provides a practical roadmap for helping students test ideas, think critically about money, and build confidence through real-world application. 

See the full transcript and listen to the episode on Apple Podcast or Spotify.

Join Us LIVE This Week with Former New England Patriots COO, Andy Wasynczuk 

The weekly Thursday NGPF Speaker Series virtual PD becomes the next NGPF Podcast episode. When you join live, you can ask questions in real time and connect with the speaker and other teachers.

Andy Wasynczuk, former Chief Operating Officer of the New England Patriots during their transformation into a championship dynasty, will share insights on what it takes to build a winning team, how the Patriots created systems that motivated excellence, and the leadership principles that translate from professional sports to any organization.

Register now for tonight's (January 29) Speaker Series event with Andy at 4pm PT/7pm  ET.

About the Author

Hannah Rael

As NGPF's Marketing Communications Manager, Hannah (she/her) helps spread the word about NGPF's mission to improve the financial lives of the next generation of Americans.