Sarah: Please tell me, how you got started and where other kids starting a business and parents can find out more info about you.
Leah: I started my magazine business 7 years ago when I was 13 years old. It is a quarterly, international publication for Jewish girls. We just printed our 28th issue! You can learn all about me and the magazine’s timeline at the website. www.yaldah.com, Facebook at Yaldah Mag.
Sarah: When did you start thinking about starting your own business and becoming an entrepreneur and why did you want to start?
Leah: I think the desire to create something that didn’t exist came first. I wanted to connect with other Jewish girls across the country. I had talents in writing, art, and graphic design, so these helped me along. I learned the business skills on the job out of necessity.
Sarah: Where did you come up with your idea and what investigation did you do to help you know that this would be a great business?
Leah: My initial idea arose out of a huge disappointment: when I was 12, I entered a contest to win a trip to the American Girl Place and be on the magazine cover. I thought my entry was very creative. Turned out they received thousands more entries than anticipated. When I didn’t win, I said to myself, “Well, maybe I’ll make my own magazine and be on the cover of the first issue. That is just what I did along with 2 of my friends.
Sarah: What do you think are the most important skills you have that help you in business and that other kids starting a business would need?
Leah: I’m not sure skills are the most essential. I am a self-taught graphic designer which certainly helps in the publishing business, but I think “traits” may be more important. I never give up. I don’t worry a lot. I dream big.
Sarah: What were the biggest obstacles, problems you had in getting started as a kid in business?
Leah: First, getting the money to launch the magazine. Second, getting adults to take me serious. Then, finding responsible and talented people to be part of the Yaldah team. In the beginning, I was doing everything. Once the business took off, I really needed a lot more hands.
Sarah: How did your age affect your business success?
Leah: I received a lot of media attention when my magazine first launched in November 2004. So much, in fact, that I didn’t have to advertise for a while! Everyone seemed amazed that someone so young could launch a magazine. I really didn’t think it was such a big deal at the time. When you are young and your parents are paying for your living expenses, you can afford to take “risks” that you might not be able to do later on. You can try new things, and if they don’t work out, the loss isn’t so great. That’s an advantage of being a CEO Kid. During the first couple years of running my business, I was in the same age group as my readers. Now that I’m 20, I have to rely on my Editorial Board members to keep me in touch with the interests of 8-14 year olds. Also, I think when you are younger people cut you more slack. The bar gets higher as you get older as far as professional expectations.
Sarah: What about college? Are you planning on going? Do you think that college is necessary for kids in business?
Leah: I am in college now. Going to college was very important to my parents. I felt ambivalent about going because I was very anxious to grow my business, to get out there and learn first-hand how to be a successful entrepreneur. I know a degree certainly can’t hurt, but it has slowed down my business growth. You often hear about college kids starting business while they are in college, but by the time I entered my freshman year, I had expanded to book publishing, and was in the midst of a big marketing campaign. Sometimes I get frustrated sitting in class when I know I have business deadlines to meet. With the growth of young entrepreneurship over the past few years, there has been a lot of discussion about the necessity of college. I think finding the right school or program is essential.
Sarah: What kind of expenses or start-up costs did you have when you started your business and where did you find the money or capital to start? Have you found that there are places to help kids starting a business to find funding?
Leah: Once I had designed the issue, I solicited subscriptions. This gave me start-up money. I also got advertisements from my private school, my orthodontist, our realtor, and a few family friends. I started out with a print run of 100 to keep costs down. My second cousin ran a printing business in California (Minuteman Press). He gave me a “family discount” on the printing. I would suggest first looking within your community for funding. I am also a big contest fan. I won about 2 dozen contests by the time I was twelve. Some of them were cash prizes.
Sarah: What have been the best surprises that you found in starting a business?
Leah: You never know where it will take you! I had the opportunity to travel for speaking engagements, and to meet so many interesting people, especially my readers. You learn so much about people, work, life, technology; much more than in school.
Sarah: Do you do EVERYTHING by yourself or do you have people on your team that work with you? If so – how did you find people to help you along the way?
Leah: In the beginning I did 98 percent of everything: designing the layout, creating the website, taking the photographs for the cover and inside, soliciting stories from young writers, creating a budget, on and on. My Dad was the technical consultant. My mom helped with editing, problem-solving, and chauffeuring me to the bank, post office, and interviews. My little sister stamped and sealed envelopes. Eventually, I selected an Editorial Board of talented young girls across the country to help with creating the content. One of my local readers (who became a great friend) ended up being subscription manager for a couple years. Later, I hired contractors to do graphic design. Another talented reader became the first Executive Editor. She was only 11 at the time, but she was incredibly smart and committed. Having a great team is essential, but it is also hard to manage because we are geographically spread out.
Sarah: What ideas and approaches do you use to market your business and what do you find works best for you in getting the word out about who you are and what you are doing?
Leah: I enjoy coming up with creative marketing ideas. I love reading Inc. Magazine for inspiration and strategies. I also read entrepreneurial blogs and attend seminars/webinars when I can. When I first started Yaldah Magazine, Facebook didn’t exist. The term “social media” didn’t mean much to me until I was seventeen. Now, I am very cued into this form of marketing. I try to reach my target audience-Jewish girls– as well as their parents and teachers through contests, special events, speaking engagements, offering complimentary magazines, our e-newsletter, website, blog, etc.
Sarah: How do you balance it all?
Leah: I’ve learned that there really isn’t a way to balance it all. You always have to make choices and to accept that some things won’t get done (at least not when you want them to).
Sarah: Do you find that you still have time to be a kid or is it all about business?
Leah: All my teenage years were basically devoted to creating Yaldah Magazine and its related projects: Summer/winter retreats, YM Books, and Girls’ Unite Club. It was a lot of hard work, but also a lot of fun. Most important, I saw that I could make a difference. Every day I received fan mail from girls who were inspired to explore their Jewish heritage, start a service project, or start a small business. I loved what I was doing, even through the challenges. I may not have spent Sundays at the mall, but I made time for friends and socializing that felt meaningful.
Sarah: What is the best business advice or tips you would like to share with kids who want to be CEO kids?
Leah: Dream. Dare. Do.
BIO: A native of Massachusetts, Leah Caras, now 20, founded YALDAH magazine at age 13. Since then she’s been running YALDAH as it continued to expand. Leah has received numerous awards including Next Step Magazine’s ‘Super Teen’ and Microsoft’s Start Something Amazing Award. Leah also has her own freelance graphic design business, LL Design, and is a full-time college student in her ‘free time’. She lives with her husband, Rabbi Michael Caras in Brooklyn, NY.
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