Wednesday 19 March 2014

sweet idea of being an entrepreneur at a young age...

Young entrepreneurs are going to rule the upcoming business industry. No offense to those who have turned successful in their forties, but it is the young entrepreneurs of 20 to 26 years of age who have captured the customers and created a huge market. A major factor being their high risk taking nature as they don’t have anything to lose, they aren’t required to hedge.

People are open to new ideas when the old ones are plainly malfunctioning. We're more likely than usual to question our bad habits and inherited assumptions when circumstances shake us out of our comfort zone. When the preordained social and education destinies our young people anticipated are denied them, it should be an opportunity to remember what we too often forget: under-21s are not just prospective employees or students, they are entrepreneurs too. But booming business cultures in emerging economies seem to be much better at celebrating and encouraging youthful energy and innovation than the establishment.

Sir Richard Branson, Steve Jobs, Bill Gates, Larry Page, Sergey Brin, Mark Zuckerberg: it goes without saying that all are unique and prodigiously clever, but the shared virtue of their youth had plenty to do with their successes too. Not long out of their teens, but before they're fully entangled in the obligations of adulthood, people challenge convention and raise questions about the received wisdom of the world. Without a vested interest in maintaining the status quo or anything to lose, more interest in finding their own way than being ruled by others' expectations, young people are freer and better informed than anybody to think about building a better future.

Being an entrepreneur at a young age has various drawbacks too. One has to work harder to prove oneself, they can’t ever be perfect, biggest hurdles are sometimes created by the parents and the close ones, their reactions lead to demoralization. On top of it anybody starting a business at an young age without much credibility needs to be very careful about choosing a business that has a secure funding, and doesn’t require a lot of capital. It is very difficult to gain access to finances especially with banks. And here a strong family support plays an important role to get you through all such complications; ironically this is what young entrepreneurs lack the most. Obviously, at a stage where you yourself are not sure about the results of your business, it is very difficult for others to trust and support you for the same.

Having a close connection with your peers is pivotal in growing. We need to learn to separate our entrepreneurial life with our social life from the beginning itself. Hiding oneself behind the emails and internet is a very easy task, but maintaining a good relationship with our peers face to face is very important. It has its own reimbursements. Although your friends can never completely understand your situation and what you are actually going through, they can build a strong support system in terms of boosting you up and keeping you motivated.

Path of an entrepreneur is never easy, and youth poses added difficulties. But as lucrative entrepreneur one should fail gracefully, learn from mistakes and address them with maturity. Confidence and unwavering humility, goes a long way...so rise above all the impediments, and you can be an even impressive entrepreneur for it.

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