Before we go any further, let me tell you that I’m also in my 20 something with
dreams of entrepreneurship to take a plunge, and barely know enough to set up and run a business. I’ve come to know that almost all of us think about starting a business at some point. And there are a lot of precious things to learn in this plethora of information, so I thought to make a dedicated series on entrepreneurship and let you people get benefited with this. If anyone is thinking that our 20’s is too early to be in this, then I know a line which I read somewhere is
In Time vs Money, Money is only as good as what it can buy. Whereas Time is priceless, as there is no definite way to measure the value of time. It is a resource that everyone has but only a few understand its value early in life.
There is no age for success. Some taste it early in their life (Mark Zuckerberg) and some at their deathbed (Colonel Sanders). But one thing is for sure that those who take risks early in life eventually make it top one day.No matter what field of study, people have immersed themselves in, though; becoming an entrepreneur can be a viable option for any young person to come up with an ingenious way to succeed in their careers.
What is it likely to be an entrepreneur in your 20’s.
Below I’ve listed some important aspects of being an entrepreneur at the young age.
# 1 Energy and motivation
It takes a lot of work to run a startup. Don’t forget that. Though not written in, the general rule is that younger professionals have more energy, motivation, and enthusiasm than their elders. Maybe you’ll be a youthful spirit for the next several decades, but every year, your energy and motivation will decline. Take advantage of these personal assets while you have them.
# 2 Flexibility
Younger people tend to be more flexible. An even larger part of the reason is our unique technological age; we face major technological disruptions on a regular basis, and the only way for companies to survive is to adapt and integrate these new technologies. In your 20s and 30s, you’ll stand a better chance of recognizing and incorporating these new technologies quickly; and as you get older, the rate of development for these technologies will grow even faster. So it’s the more flexible time to start-up your dreams.
# 3 An early start
Even if you don’t get a first mover’s advantage in the industry you’re in, you’ll definitely get an advantage for starting early on in life. Straight out of college, the young mind is filled with fresh ideas. Not having burnt their fingers with experience. The early start gives you enough time to change paths and come out of your failures.
# 4 Newer ideas and there’s always something to gain.
This depends on your industry and the nature of startup but being in your 20’s, means you’re more ready to experiment with innovative ways to work. If your startup doesn’t work out for some reason, the journey of being an entrepreneur teaches you so much. You can always apply these learnings to a job you might want to take up or even another startup.
# 5 Long-term potential returns and risk tolerance.
If so, start your business as early as possible. Yes, it’s an optimistic scenario, but an achievable one, even if it takes you two or three tries to build a successful enterprise. The bottom line is, the more time you can spend as an entrepreneur, the better long-term returns you’re going to see. In the business world the higher the risk an investment carries the more profit it will generate. And the toughest job is not to generate the profit it is to minimize the risk.
Being an entrepreneur in your 20s is worth every challenge. So start early and make every step count! At the end of the day, a unique vision and a well-crafted roadmap by a talented leader are the factors that determine the disruptive capability and relevance of a start-up. Don’t forget that it’s never too late or too quick to learn and execute anything. So keep hustling 🙂