Eleven (11) Powerful Lessons For Aspiring & Young Entrepreneurs

Eleven (11) Powerful Lessons For Aspiring & Young Entrepreneurs

Today, Young entrepreneurs are learning powerful lessons at a very early age, and you too can learn (and apply) them. According to recent studies, the number of people under the age of 35 starting their own enterprise has increased by more than 70 percent since 2006. Young people are more entrepreneurial than any previous generation, and many are achieving great success at a very early age.

One of these entrepreneur is Rachel Gutierrez, a 28-year-old Mexican-American entrepreneur living in New York City. She is the founder and owner of Via Bom Dia--a company that offers coffee flavored exclusively with natural ingredients. Gutierrez was asked her advice for upcoming/young entrepreneurs, these are the most important lessons she has learnt in the cause of her entrepreneurship career.

1. Chance Favors the Prepared Mind

Success is not determined by luck. Persistent actions, dedicated mindset, and proper preparation will take you much farther than luck.

2. Fake it till you make it

Being a young entrepreneur means you may be doing things for the first time, and you will have skeptics. Never act like it's your first time (Novice); scare away the critics with confidence.

3. Choose Something You are Willing to Dream About

When thinking of a viable business, find a problem to solve first, and then decide if you can spend 80 to 100 hours a week working on that problem and thinking about that business. Questions like: Are you still excited and energized about this business should be put into cognizance. If satisfied and convince then you should go for it, If not go back to the drawing board untill you figure it out.

4. Know your industry better than anyone else

Most people are not willing to put in much effort and time in studying the business industry which they intend penetrate & capture. It's the easiest way to stand out and have a competitive advantage against your competitors.

5. Work Hard and Then Work Harder

Be willing to hustle long hours. Most people are not willing to sacrifice their nights and weekends, but entrepreneurs don't even think twice about it. Starting a business is an around-the-clock commitment.

6. Energy and Passion Go a Long Way

People love young entrepreneurs who want to change the world and make positive impact. Your optimism and energy will be contagious and will make people believe in you and your business.

7. Decide what you want. Believe you can achieve it. Believe you deserve it.

All that we are is a result of what we once thought. If you don't believe in yourself or your business, no one else will. Greatness is in you!!! You just have too bring it out yourself.

8. Calculate Your Risk and Then Jump in With Both Feet

Don't jump into something without knowing the real depth. There is an adage says "When testing the depth of a water do not use both legs" But once you are ready to dive, go deep, without inhibitions.

9. Advertisement
Advertising your goods and services is paramount, so as to create awareness and win new customers and maintain existing customers. There are various channels to communicate your products/services E.g Electronic media or Print Media

10. Take Action Today, Not Tomorrow

The first step is just getting started. Your business will change 100 times between the initial idea and the launch. That's why you have to just get started and begin the journey. No procastination, anything that needs to be executed should be done at the right time because time they say is money and once lost it's difficult to regain.

11. Be Patient and Celebrate the Little Wins

Starting a business is a marathon, not a sprint. Remember to set short-term goals (as well as long-term goals) so you can celebrate the little wins along the way but don't get too carried away with the wins.

Reference: Rachel Gutierrez