I started my first business aged 11, now 16 years of age I hire a team of 15 and also have worked with over 500 businesses to help them achieve their digital mass media goals (websites, images, hosting, branding, printing and SEO). I am an ambassador for several organizations and a mentor to some other young business owners.
These experiences have taught me that young people face several additional challenges when starting a business in comparison to most other business owners. The important thing is to show these difficulties into opportunities and utilize them to spur you on. Firstly, when you’re young and new in business it can be easy to get carried away and be prepared to become an ‘industry innovator’ right away. However, you will need to think about what’s practical logistically and take things one step at the same time.
When I was initially starting out I registered between 30 and 40 agreements within one summer season holiday because I needed to stand out from my competitors. In retrospect this wasn’t the best move and thankfully I managed to withdraw from these agreements without a huge impact on my business – it’s great to be enthusiastic and ambitious but it’s important to try to avoid rash decisions.
For me, failing is no option but I believe you can’t be afraid to make errors as a business owner. IN THE US they have an amazing thought process whereby entrepreneurs are not seen as successful until they have had some type of failure. I find that young people are generally more buoyant and open to new changes and risks which can be a great power of being an entrepreneur. Additionally, it may have a detrimental impact though and lead to young business owners taking on too much so be sure you get the total amount right – you must walk before you run.
- Light housekeeping
- Washington DC-IAD (Boeing 777-300ER)
- Provide specific types of the drawbacks of OnStar, Sync, and Blue Link
- Purple Eclipse
- Increasing the utilization of short-term debt versus long-term personal debt financing will increase profit
For many young people, blending business with education is incredibly tough. Unlike other entrepreneurs we can’t necessarily answer the phone throughout the day or go for an important meeting at the drop of the hat. However, it’s important to keep in mind to leave time to socialize and have time away from the business.
Although this seems extremely tough it’ll actually lead to you being more successful when working – I must perform a complete day’s work in the space of a couple of hours making me extremely concentrated. If you’re starting a business while in education, make sure you have the backing of your college or university as a good amount of support can lead to excellent chances to stand out and grow. The hardest problem for young business owners is tackling the common misconception that people “do not know what we should be doing” or “will just muck around and waste your cash”.