Starting your entrepreneurial journey earlier in life has many benefits.
Being self employed is one of the most challenging and the most rewarding things I have ever done. It is scary at times and at other times gives me a huge sense of freedom and satisfaction.
In terms of personal development, having a business is the vehicle through which I have been allowed to grow, to be more creative, and to become bolder than I have ever been. The benefits have been enormous and the challenges have been enormous too.
The benefits, by far, outnumber the challenges. The only thing I would do over, given the chance would be to go into business earlier on in my life.
Yup, I would have loved to go into business when I was in my twenties. Right now, 20-somethings are the most Impressive generation. They have so much potential and skills that no other generation has ever possessed at such an early age and if harnessed properly, those skills can be parlayed into creating successful businesses.
With youth, comes many gifts one doesn't appreciate till much later in life. Some of these youth-based, business-friendly qualities are outlined below.
Ability to learn quickly
Most 20 something’s grew up in a technological world. They practically have had access to the internet their entire lives. They, therefore, are very used to teaching themselves about different topics and things that they are interested in.
If they don’t know something, the information is literally at their fingertips via the internet. They learn faster and know way more than previous generations did in their 20’s. In the world of entrepreneurship, this quickness comes in handy. Adaptability is important in order to stay current. It also helps in quick assessment of what works, what does not work and constantly thinking about increasing efficiency and productivity. Adaptability is a major key to success in business.
This is the first generation that was homeschooled, which means that for the most part, their education has been self- directed, and, self-taught. That makes this generation very good at knowing what they want and what they are good at. They are quick and decisive and that is a great quality to have in business, where you are faced with lots of decisions to make in a day.
Since most Millennials grew up with technology, they have found great creative ways to uses for the various tools and apps out there. On YouTube, you find young people that have built massive audiences.
These young people are so charismatic and confident and sometimes are able to influence their audiences to buy one product or avoid another based on their review(s). Many brands would love to have access to that sort of audience and sometimes go into partnership with different YouTube channels and Gurus to market their products directly or indirectly to these built up audiences.
These young you-tubers inadvertently have become experts at defining and communicating their brand and if they created their own products, they already have an audience that could be potential customers to market their products to.
Running a business requires a lot of energy and enthusiasm. As an entrepreneur, you must be motivated and have the ability to motivate others around you. Millennials, as a consequence of youth, tend to have boatloads of energy and a natural ability to form alliances with others.
Think of how enthusiastic and excited about life most young people are. They haven’t had a chance to get disillusioned yet. Bad habits have not set in yet, or if they have, they are still young enough to correct them without any major consequences to their lives.
That enthusiasm for life is also contagious and draws people in. That type of energy, if harnessed properly can lead to the creation of useful products and services, badly needed in the marketplace.
The point is, young, entrepreneurial-minded people in their twenties can be very successful by just using the skills that they have picked up and that are unique to their generation. Some of the most successful business people in the world today started their businesses in their twenties.