Even though the business industry is teeming with young entrepreneurs, aspirants fresh out of college aren’t taking the plunge precisely because of their age. They’re at a tender, vulnerable phase: no experience, no success story, no credibility yet. But as much as there are lots of reasons not to go into entrepreneurship, there are plenty more reasons to do it. If you’re considering putting up a business but quite wobbling on your decision, these reasons may just help you make that resolve:
Because of your age, there’s less expectation of you to perform really well. This reality might hurt your ego for now, but you can use it as an edge. With people setting the bar quite low on you, there’s no pressure to prove yourself, powering you up to perform really well. Once you’ve exceeded their expectations, you’ll earn people’s respect and trust. Of course, you’ll make sales and profits. Later on, you’ll find yourself being a thought leader in your industry at a young age, with people older than you turning to you for advice. But remember, the key to pulling this off is this: be the best at what you do. Offer the best products and services. Make sure that they’re addressing a real problem of the market. Otherwise, you’ll be out of business fast.
You have the energy
Starting out in any entrepreneurial endeavor is a lot of work. You’re testing out products, exploring opportunities, pulling out knowledge from different sources, networking, calculating risks, and more. The entire thing is draining. That’s why it’s an advantage to start a business young, when you still have the youthful stamina and endurance. Keep in mind, though, that just because you have that strength and ability to juggle things at once doesn’t mean that you have to do all things. That’s the fastest way to burn out. Dedicate your energy to a few things that will yield great results in your business. Be strategic in the tasks you do. In fact, be smart in choosing the business you’re going to put up, from the very start. Don’t waste your energy in trying if a new business idea is going to work or not. Consider being a franchisee. Go for the tried-and-tested pizza store or grab a hot dog business opportunity so that you can direct all your energy to an endeavor that has high chances of success.
You have fewer obligations
In your 20s, you’re more likely to have more freedom than other older aspiring entrepreneurs. Since you don’t have a family yet, there are no kids to send to school, no spouse to consider in spending, no mortgage to pay. You’re relieved from hefty financial obligations. In case you’re dealing with a few student loan payments still, though, you can always pitch to business investors. With the rise of young entrepreneurs today, most financiers gravitate toward aspirants who are starting out early on in life.
Your age could be your edge in business. However, you’ll know for sure only if you try it yourself. Therefore, go take the plunge. While you prepare your resumé, think about drafting your business plan, too.