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Advice For The Young Entrepreneur
Young entrepreneur advice. Being in business for yourself is fun. I would know, I’ve been in business more years than I haven’t.
When I was young, I got very little business advice even though I was a fourth-generation entrepreneur.
That’s why I feel personally responsible to give some amazing advice to the young entrepreneur.
You know, all that stuff I wish somebody would have told me.
So let’s dive in.
Don’t Take Everybody’s Advice
Pretty funny that I’m starting this blog post about young entrepreneur business advice telling you not to take advice.
But it’s true. Everyone’s an expert. They all know what you should be doing even though they have no clue.
The louder they shout it and toot their own horn, the more you may think you need to believe what they are talking about.
But guess what, if the only horn you hear tooting is their own, you may want to rethink that resource.
Maybe, just maybe they really are a successful entrepreneur. However, that doesn’t mean that what they are saying will work for you.
When you take advice, you can test it out. See if it works for you, if it does great. If it doesn’t, do something else. It’s really that simple.
Different Businesses Have Different Personalities
Business is not one size fits all. Are you exactly like everyone else? Of course not. Neither is your business.
Every business has its own personality. If you think of your business as a person, you can better nurture its growth.
That’s why some people can dole out business advice and it works. But it only works for some businesses and not others. Not all businesses are the same. Keep experimenting and tweaking to find what works for you.
All things being equal, if you put in the work and the work’s not working, you’re doing it wrong for your brand.
Natural Born Hustlers
Some people are natural-born hustlers. This is not a bad thing for those types of people and businesses.
But if you’re not the kind of person who can slide into the DMs and start making sales, you’re going to come off as sleazy. Sorry, but it’s true.
Natural-born hustlers? They can get all up in your inbox and you are happy to buy from them.
Some of those people are total sleazeballs and they give the good hustlers a bad wrap. If you are the type of person who loves to reach out and help people through the DMs with no real prompting and it works? That just maybe the perfect business model for you.
If that’s not you, learn SEO techniques and bring your customers to you and respond to your people don’t hunt them down. (Sidenote, SEO is good for everyone, even the natural born hustlers.)
Do what works for YOU and YOUR BUSINESS.
Young Entrepreneur Advice – Strategic Planning
When you want to build a business, spend lots of time planning even after you’ve started.
You need a business plan.
I know a business plan doesn’t sound sexy. But I assure you, the best young entrepreneur advice I can give you is to grow and organize your business is with a plan.
I have the perfect business plan, it’s juicy eye candy and it can help you organize your business to make more money.
Business plans are important and it’s one of those things that every successful business owner needs.
Be Your Own Personal Brand
As a young person, you have advantages. People love to see young people succeed.
Be your own brand. Get your face and your message out into the world.
Be passionate about who you are and what you have to offer the world.
Your passion is contagious, share it with the world. Do what you love and love what you do. Your business is your life and it is meant to be shared and enjoyed.
Your Business May Fail
There I said it. Somebody had to. Not every small business is successful. Not my favorite advice for the young entrepreneur, but totally necessary.
But what I want you to know, is that it doesn’t matter.
The lessons you learn in one business can be applied in another so while the business may have failed, you are not a failure.
There is a lesson in everything. You can apply what you learned into another business and that business may thrive.
Don’t Be Afraid To Pivot
I’m always updating my business plans. Every business I have gets its own plan. I’m always going back in and re-evaluating.
Do more of what works, and less of what doesn’t is solid advice for the young entrepreneur. When you see something that is working, don’t be afraid to take your business in another direction.
Maybe the original idea was only meant to take you so far. Or perhaps, the world wasn’t yet ready for that idea and you can come back to it in the future.
A business plan isn’t meant to be rigid, it’s a jumping-off point. It’s a place to organize your thoughts and ideas.
It’s a written plan that you can come back to that will show you when you need to pivot and do something different to be successful.
The Younger You Start The Better
A child can start learning about entrepreneurship at a very young age. They don’t have to start a full fledged business, but they can start learning more about whatever they are interested in.
Have a child that wants to be a teen entrepreneur? That’s the best time to start! Kids don’t have all those hang-ups about business.
Young entrepreneur advice? They have creativity that’s on fire and they have a safety net. Let them start as young as possible.
My online program, Business In A Bundle- For Students, helps kids start a business. It sets them up for success before they have to take on the responsibilities of being an adult.
Think how much farther ahead you would be right now if you started a business while you were still in high school?
Entrepreneurship Is For Everyone
I truly believe in this young entrepreneur advice I’m giving you and I want you to know that there is at least one successful business inside of everyone.
But, sadly, not everyone has the mindset of an entrepreneur.
Success starts in the mind. When someone says that you are too young, or that you can’t be a CEO until you reach a certain age, that’s their mindset block, not yours.
You can do anything that you want to do and it would not be in your heart or mind to do it if you couldn’t.
Yes, you can.
You Don’t Need Lots Of Funding
In this day and age starting an online business is the least expensive thing that you can do.
You don’t need unlimited amounts of money to be a successful entrepreneur.
You can create products right out of your own mind.
Brainstorm what you want to do and stretch your brain like taffy until you squeeze your answer out of it.
Potential Customers Are Everywhere
A lot of young entrepreneurs are afraid to talk about their businesses.
If you have a business that can truly help people you are depriving people of your greatness by not talking about it.
People are people and not an ATM machine, but you do have something that can help people so if you are passionate about it, don’t shy away from talking about it.
Take Your Time
Allow your business to grow organically. YOu don’ thave to rush to grow all at once.
Enjoy the entrepreneurial journey, enjoy every aspect of building your brand. When the time is right you can hire other people. You don’t have to do everything yourself.
YOu don’t want to be an employee forever, even in your own business.
Make Passive Income
What is passive income?
That’s money that you can make even while you sleep.
You don’t have to do everything. You can set up systems and allow the work to be done for you.
That’s the best advice for young entrepreneurs of all ages.
Any questions? Leave them for me in the comments, I’d love to hear from you.
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YES – start as early as possible!
If not even earlier!!!
I like that, Daniel! Yes, start entrepreneurship super early. Kids make outstanding entrepreneurs. Life is so short. Why not start building a business as soon as possible?
Nice tips! I would also advise working only with those clients and partners that you can count on. It happens that the insolvency of customers and partners turns out to be the key cause of business failure. Moreover, it is unlikely that you have extra time to collect debts.
Thanks for sharing! It was a very helpful reading. I would also add such a point as financial planning. Business requires expenses, so you need to know how much money you need to run and improve it.
Thank you for sharing such helpful content!