Home Blog Small Business Eight quick tips for young entrepreneurs

Eight quick tips for young entrepreneurs

February 08, 2016

If you’re a young entrepreneur, it is never too early to start getting experience. Check out our tips for thriving as an entrepreneur, and before you know it, you’ll be ready to conquer the small business world.

Starting a career as a small business owner can be intimidating, especially when you’re amongst the young entrepreneurs just entering the industry. Although you may be lacking in experience, you’ll benefit immensely by fostering your leadership and organization skills, and elevating your overall knowledge of business topics. By mastering these 8 suggestions, you’ll be an expert in no time!

  1. Get involved early – Still in college, but planning on starting a business after you graduate? Join your campus’s entrepreneurship club, participate in on-campus pitching contests and take courses that will prepare you to be a business owner. Even if you don’t have an exact idea yet, taking these steps will give you more credibility once you are ready to start your business.
  2. Find a mentor – Bonding with a veteran entrepreneur will allow you to gain perspective from a seasoned business owner. Their council will be helpful as you face different obstacles, and they probably have a fairly large network of contacts that they can connect you with. Ensure that your mentor is trustworthy and has a respectable reputation so that you can share your ideas with them.
  3. Learn from your mistakes – Naturally, most young entrepreneurs are lacking the experience of older professionals. You’ll probably make a few mistakes, but as long as you learn from them, you’ll continue to improve your business, and your leadership skills. Make note of what doesn’t work so that you don’t repeat the same errors.
  4. Seek learning opportunities – You’ll never know everything about the small business world, but that is a good thing. Read new articles, attend conferences and network with your peers in the industry, so that you are constantly learning. If you keep up to date on business trends and immerse yourself in new experiences, you will become a well rounded entrepreneur.
  5. Develop thick skin – Accept that you will probably hear ‘no’ more than a few times throughout your career. If you prepare yourself for criticism, stress and even failure, you’ll be able to cope accordingly. Not everyone you come across will support your ideas, and it is important not to get insulted. Instead, handle the pressure, and keep working on perfecting your business.
  6. Have a plan – Small business owners are required to be organized and well-prepared. By planning ahead and maintaining a structured plan for your business, you’ll feel more prepared for all of the responsibilities you’re in charge of. If organization is not your strength, make sure you have someone working with you who can assist you with this.
  7. Use social media – Chances are, you’re probably well versed with social media. Make sure your business is set up on numerous platforms, and learn how to tailor your content to each site. In addition, ensure that your personal accounts are professional. As a young entrepreneur, you’ll want to be taken seriously, and accounts with immature or inappropriate posts will affect your professional life.
  8. Find your opposite – The best small business owners know their weaknesses and hire people who have the qualities they don’t. If you’re looking for someone to collaborate with, it should be an individual who can pick up the slack that you can’t handle. This will benefit your business long-term, and make your life easier.

Although becoming an entrepreneur can be intimidating, taking advantage of these tips will help prepare you for the challenges ahead. By staying organized, relying on council from knowledgeable professionals and learning new things, you’ll be ahead of the game as a young entrepreneur.

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