February 09, 2015
Nomi Ellenson/User @TeenMogul/Twitter
Noa Mintz, 15, founded a service that connects families with nannies.
But after a few years spent building up the company, a service that connects families with babysitters, Mintz is turning her focus to high school, CNN Money reports.
Mintz made the executive decision to hire help because she was putting in 40 hours of work a week at Nannies by Noa while juggling her 8th grade courseload.
"While stepping down was necessary with the beginning of high school, of course it has been difficult to hand over lots of my work to someone else," Mintz emailed an entrepreneur in January, soliciting advice. "I would love to hear about your journey as an entrepreneur and how you balanced college while also being a committed businesswoman."
The solution Mintz reached was to hire a CEO to take over operations at the Midtown Manhattan office building where she rents a room.
Although Mintz had some family help in launching the business, the idea stemmed from her own complaints about a nanny she had when she was younger. Her father, who runs a private equity firm, is the registered owner of her business, but from the start Noa has overseen its planning, customer service and business model.
After starting out modestly, the business has tripled over the past year, from 50 clients in 2013 to 190 today. With that growth, the company has transitioned from charging a flat fee to taking a percentage of the nanny's first-year gross salary.
And while Mintz has always shown a flare for ingenuity, she acknowledges the transfer of duties will allow her to improve her academic record.
Read the full story here.
