We all want to live with a sense of purpose. We want better lives for our families, as well as happiness and satisfaction with the things that we do. Having a business helps us do these things.
Some of us, at a very young age, may have already realized that we want to start our own business.
The reasons for wanting to plunge into entrepreneurship may be motivated by financial need, the desire to be your own boss, involvement in the family business, or the drive for a sense of accomplishment.
College students taking up a business course are expected to come up with their own unique business as part of their school requirements. Many of these students realize that these concepts can actually be profitable, and they turn them into real businesses as soon as they graduate from college.
Many of these small businesses that we see today are owned by young entrepreneurs. Some of the most successful businesses also started out as small enterprises being run by young people.
What are the advantages building your own business at a young age? There are several, some of which are:
- Young entrepreneurs can more easily adapt to any kind of environment, age, and culture.
- Young entrepreneurs have more energy, motivation, enthusiasm and creativity.
- The younger you are, the better you are at tolerating risk.
- Young people are also more resilient and are unlikely to give up until they reach their goal.
- Most young entrepreneurs who truly love what they do end up starting multiple businesses, thus becoming serial entrepreneurs. Moreover, the new businesses they start are better run than the last one they built because experience has made them better entrepreneurs.
FACTS ABOUT ENTREPRENEURSHIP
Having your own business may be a very tempting thought. But you must also know that there are a few things that you need to think about.
- Competition is stiff among businesses of the same nature.
- You may not have the appropriate resources that you need for the kind of business that you have in mind.
- Some businesses that maybe “trending” now may lose their novelty after a few months or a year.
- You may have an idea on how your business should work, but what you know may not be enough. Although some successful entrepreneurs were not able to finish school, certain goals require education.
START YOUR BUSINESS TODAY
No matter how old you are, you can start your very own business even with limited resources.
As I have mentioned in my previous articles, I started selling candies and comics to my classmates when I was in grade school and it was my way of helping my parents.
I would earn money for my “baon” and save a little more from riding a bus on my way home. At the same time, I had fun selling without realizing that it was a start of something big for me.
By starting young, I developed a discipline which has helped me become who I am today. I am not a business giant, but my success is mostly in the fulfillment of my dream of becoming an instrument for the success of others.
Take inspiration from successful people of today. Never be afraid to seek help and learn from those whom you think can guide you in starting your own business. You may just become a successful entrepreneur in the future.
Get his latest book “35 Tips On Business” available on E-book and paperback at www.amazon.com
(Armando Bartolome is known as the Philippines’ Franchise Guru, a business mentor to numerous micro entrepreneurs who are now themselves big names in the industry. This article is reposted with the author’s permission and was previously published on The Business Mentor column posted by ABSCBN News. For questions and more information, you may contact Armando “Butz” Bartolome by email: email@example.com or on Twitter @philfranguru. His website is www.gmb.com.ph)