10 Tips for Young Entrepreneurs

Being successful often means learning from those who have already achieved their goals. Having a mentor is an amazing blessing to entrepreneurs, but not everyone can find one in person. If you haven’t yet found your personal business guru, here are 10 tips for young or aspiring entrepreneurs to help get you started.

Read now: The Young Entrepreneur’s Guide to Starting and Running a Business: Turn Your Ideas into Money!

1. Just Do It, Even If It Fails

“It’s not easy to start, I want people to realize it does take a lot of work but people need to take more action. People get stuck in that learning phase and they actually need to just do it, even if it fails because they’re going to learn way more than just planning and reading and waiting.”

2. Do work you care about

There’s no doubt that running a business take a lot of time. Steve Jobs noted that the only way to be satisfied in your life is to do work that you truly believe in.

3. Take the risk

We never know the outcome of our efforts unless we actually do it. Jeff Bezos said it helped to know that he wouldn’t regret failure, but he would regret not trying.

4. Have Others Help You Be Strong

Build a really strong team, and then a really strong support system as well. Having a strong team will make your life so much easier. You’re already wearing so many hats, so having people that are smarter than you and are able to work really well together is so important. Also, starting a business, no matter what you’re doing is really tough, so having that support system really helps get through the tough times.

5. Jump into the Fire

Don’t let negative feedback hold you back from starting. The best thing to do is start and figure out solutions to your problems later. But the longer you wait, the harder it’s going to be. Just jump into the fire

Read now: Kidpreneurs: Young Entrepreneurs With Big Ideas!

6. Take action

The world is full of great ideas, but success only comes through action. Walt Disney once said that the easiest way to get started is to quit talking and start doing. That’s true for your success as well.

Read now: The Young Man’s Guide to Entrepreneurship: 16 Things You Need to Know

7. Trust Your Gut

Trust your gut. There are a lot of people who have a lot of advice, and a lot of vultures, and a lot of people who are condescending, and a lot of people whose intention it is to make you doubt yourself. I’ve been there and all the decisions I’ve made where I didn’t trust my gut, I have regretted. At the end of the day, you know your business better than anyone else.

8. Think Outside the Textbook

Entrepreneurship can’t be taught out of a textbook. In fact, a lot of business can’t be taught out of a textbook. You can study business theory all day but ultimately starting your own business is about the grind and being scrappy.

9. Manage energy, not time.

No one succeeds immediately, and everyone was once a beginner. If you look closely, most overnight successes took a long time.” Don’t be afraid to invest time in you. Your energy limits what you can do with your time, so manage it wisely.

10. Do It for the Right Reasons

Make sure you really know what you’re getting into and that you are doing it for the right reasons. A lot of people try to start companies because it seems really exciting to be on your own and run a business. And it can be, especially if you find success. But the other side of the coin is you really need to think about if you’re willing to prioritize a business over everything else and sacrifice things like personal life and time indefinitely, with the likely outcome that you have nothing to show for it.

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