Young entrepreneurs have distinct advantages over those who open a business later in life. Youth entrepreneurship is successful when younger entrepreneurs apply the benefits of having time, creative energy, and support to overcome perceived disadvantages such as a lack of experience and skill set.
Young entrepreneurs show indications of having a good work ethic and an entrepreneurial spirit early on. It probably doesn’t show in their strong desire to do chores such as being an overachiever when taking the trash out for their parents, but it’s there! You can sense that startup mentality and an interest in sharing ideas and contemplating solutions. It’s the early indication of self-worth and determination that will lead to the ability to take risks in order to solve problems.
Entrepreneurship isn’t about experience. It’s not about age.
Starting a business at a young age can be as successful of a venture as starting at any other time in life. There are advantages and disadvantages to both. For young entrepreneurs running a business…
Learning opportunities abound!
It’s more about the questions you ask and try to solve. It’s the desire to figure out what works, sharing creative ideas, and taking action. It’s about bringing the business idea to life.
It’s a desire to read any type of books and manuals to learn, reading the comments on TikTok to develop the skill of figuring out who is being helpful and who is a just a troll. It’s becoming the independent thinker who develops a strong sense of self. You can be this at any age.
Successful entrepreneurs specifically introverted or extroverted. It’s not a comment on an IQ or EQ. We’re talking kids. We’re talking figuring it out. Some of us are figuring it out much later in life but we still got it – that strong sense of self and a commitment to a cause.
It’s never too early to start using your entrepreneurial skills:
“Some people dream of success, while other people get up every morning and make it happen.” — Wayne Huizenga
Entrepreneurs see the bright side.
Successful young entrepreneurs are continually looking UP…
– Make the most of distinct advantages that help lead to success.
– Recognize these advantages and apply them.
Young entrepreneurs benefit from the following:
- Time to start a business
- Entrepreneurial positivity & less fear of failure
- Energy and enthusiasm
- Creative ideas & startup options
- Coachable & willing to take risks
- No adulting
- Support of their business idea
Successful business ventures at a young age involve more than your experience and skillset. Your entrepreneurial mindset is particularly important when running a business when you’re young.
Time to start a business
At a younger age, you have more ability to determine how to spend your time. You have the ability to go to school, do homework, act responsibly and help out around the house, and there is still ample time to dream and create.
As you play, read, visit with friends, ride your bike, and value your free time, you can also think and put your creative ideas together. You can ponder issues your face or learn about, and act upon solutions that come to you.
You can also participate in activities that are age appropriate. For example,
- Prepare yourself and develop important skills by volunteering for an animal shelter where it’s not all about petting puppies and kittens.
- Gain experience and develop networking skills through scouting.
- Focus on a hobby that teaches you about life and helps you learn life skills at the same time which translate into business skills such as planning and prioritizing.
Time is opportunity.
Time is strength.
Time is money.
Time is on your side – if you choose to use it.
Entrepreneurial positivity & less fear of failure
Young entrepreneurs are full of positive thoughts.
You are not jaded by society and haven’t spent frustrating years at a dead-end job. You haven’t had to choose between fun and working to pay the bills. You haven’t needed to pass on the $9 coffee to buy shoes for your own children or pay the vet.
More so – you have not had hard lessons that diminish the self-confidence of most adults.
Use your positivity to experiment and learn what works for your business. You’ll establish as the leader we need in society. You’ll get that head start on earning and saving that will allow you to grow now and prosper later.
Your positivity is a fantastic advantage.
Energy and enthusiasm
You are growing! You have a high metabolism, and this thing called an aerobic metabolism, which allows you to remain high energy throughout your day and after high-intensity exercise such as running, bike riding, and school sports practices. Your muscles recover faster, and you keep on going.
This energy contributes to your positivity, creative thinking, and your pure will and determination. Use it all. It’s part of what makes you a most awesome you.
High energy is a huge benefit to young entrepreneurs.
Creative ideas & startup options
Young people are super creative. Not every idea can become a business, but new business and solutions that change the world start with a creative idea and the answers to “what if” and “why not.”
Take advantage of the fact that you are not constrained by what people say can’t work, won’t work, isn’t going to work, is silly, stupid, ridiculous – or any other of the onslaught of societal “no’s.”
If the reality really is “no,” that’s okay. You rule out that particular though as you build toward a solution that does work. Sometimes a solution to a problem is actually simply something fun that creates a distraction or a moment of freedom, ridiculousness, and silliness.
Consider the word “nimble” and see where it leads you.
Someone created the bouncing ball and the hula hoop. Someone created yoyo’s and the first cardboard puzzle and then the first virtual puzzle. Someone made it possible to play chess with a great friend who lives thousands of miles away.
Brainstorming comes naturally to young entrepreneurs, as do your creative ideas for new products and services that solve problems. This makes you a natural problem solver!
Coachable & willing to take risks
What does it mean to be coachable besides not getting offended at suggestions or mentoring advice that doesn’t always agree with your idea or plan? It means you take these actions:
- Open your mind to new ideas.
- Use basic chores to develop critical thinking.
- Use life skills to develop other business skills.
- Learn financial literacy by opening bank account or simply learning using a box of coins.
- Open your eyes to skills you own or lack.
- Open your eyes to skills others display or don’t.
- Use your technologically advanced brain to understand efficiency.
No adulting
Compared to older entrepreneurs, you benefit from having fewer commitments.
Third, younger entrepreneurs don’t have all of the responsibilities associated with being a spouse or parent. They don’t have the bills and job pressures. This means that they can focus on growth while company expenses are low.
You absolutely may have challenges, but this is an advantage for sure.
Support of their business ideas
You are surrounded by support. Your parents may be readily available, or they may be overwhelmed or working multiple jobs. They may have a strong desire and ability to help, or they may have that interest or an ability. It’s all okay. Determining what you have to work with is part of your business building project. It’s part of being an entrepreneur.
Assess what you have to work with and build from there. If you literally have yourself, your idea, and no support or money to get what you need or where you need to be, at least you know what you are working for and that your one person is 100% committed.
You are innovative and the barriers are few – relatively speaking. It’s a welcome space. Speaking on behalf of the world, we value your energy, and we want your solutions.
You have the freedom to explore, so take advantage of the opportunity! Become the architect of your own life.
“Never be limited by other people’s limited imaginations.” ~Mae Jemison
Youth entrepreneurship requires planning.
Write up your idea. Write a basic business plan. It can be a sketch on a single piece of paper. But think it through.
- What’s your idea?
- Who needs your idea?
- How will it change their life?
- How do you reach them?
- Who pays for it, and will they actually spend money on it?
- How do you spread the word and reach more customers?
- Figure out how to start with a low overhead.
- Consider your support.
- Set SMART goals.
- Commit.
Recognizing the advantages of being a young entrepreneur will help lead to success.
This is your moment to dare to be daring. Have faith in yourself and your ideas and build out your plan. Take advantage of your time and ability to build around a flexible schedule. Use your entrepreneurial mindset to talk to people and figure out how your issue solves a problem and who you want to work with on this project. You are innovative so use that and all of your many positive advantages. Your focus on the positive will get you past the hurdles because your creative energy and desire to succeed will help you find the right solution in the right form.
You got this.
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