I will be dishing out some advice for young entrepreneurs and startups in today’s post. You should take this advice seriously because it will help you a great deal.
I met a rich man in his late 40s who discussed how he got rich.
I noticed from his story that one of the keys to his success was that he started young.
According to his story, he made a lot of mistakes but he was able to bounce back because he was young and he had the strength to do so.
He also had the passion to succeed. Which made him willing to always take action.
He spoke of how he accepted to be paid a small salary just for the purpose of learning.
It was what he learnt that made him a successful person today.
Today he has his company in other countries around the world.
All these happened because the man desired and started at a young age.
My first piece of advice to young entrepreneurs is to start small. You can start with the resources you have right now.
You don’t need to get a lot of resources before starting your business.
Most of the best businesses in the world today started small but the main the is that they started. They won’t be big today if they didn’t start from somewhere.
Do not have all the resources you need for the business, just start with what you have.
The best time t start your business is now, just start there are chances that you will succeed or you may fail.
Your focus should be on the possibility of succeeding. You can only know you will succeed when you try.
if you do not try, you will never know the success that awaits you.
One of the most frustrating sets of people in life is those that procrastinate.
They look back and start having regrets because there are a lot of things they could have done in the past to make their life better now.
Don’t be part of those that procrastinate instead you should be part of the people that take action when necessary.
Learn and keep learning
The moment you stop learning, you start to get outdated. As a young entrepreneur, you need to learn and keep learning.
New discoveries are made every day and if you don’t keep yourself updated, you will be left behind by others.
Someone who doesn’t learn to update himself is like a phone that is still running on a 2G network. How do you expect such a phone to compete with phones that are using a 5G network? The difference is clear.
Keep learning new things that are related to your business. That is the only way you can stay at the top in your business field.
In business, you need to spend money to make money.
I know a lot of people will tell you that you only need an idea to start a business. Well, that is true but the idea needs to be facilitated by money.
It is just like having a baby, you have a baby by making love but you cannot make the baby grow by making love.
You need to feed the for it to grow and feeding the baby requires money.
You should also see your business as your baby and you need to feed it by investing money in it.
If you don’t invest any money in your business, you might likely not get any profit
If you invest little money in business, you might likely get little profit.
But if you invest enough funds in the business, you might likely get a huge profit.
The Bible says that “my people perish for lack of knowledge.”
A man who does not have a vision or a goal is not ready to start a business.
You need to have visions and set goals if you want to succeed in business
I will simply put it like this, no goal, no success.
It is good we set daily, weekly, monthly and yearly goals.
One of the reasons why organizations succeed is because they set goals for themselves. So one of the reasons you will succeed is because you will set goals for yourself.
At this age, you need to be able to get work done faster.
There are a lot of things that need to be done and I can bet that you can’t do them all within the time you have.
The solution is to delegate a task that is not important to you. You can pay others to do it for you.
You should immediately attend to an important task that needs urgent attention.
You can schedule other important tasks.
There’s is difference between procrastinating and a d schedule.
You should try to avoid procrastinating instead, you should schedule your important tasks.
Have a plan
It is not enough to set goals for yourself, you need to have plans on how to achieve your goals.
There is a popular saying that when you fail to plan, then you plan to fail.
Making plans doesn’t have to be complex. You can make your plan simple enough. You can start by writing a to-do list but make sure it is time-bound.
People that do not plan end up failing because that is how life is.
Imagine you want to travel with your car for 800km and you don’t have plans on how to fuel your car.
You only have 10 litres of petrol in your car. The end result of the journey will definitely be a failure.
If you want to be successful in business, you need to make plans.
Technology makes work easier for you and technology keep advancing.
If you want to achieve the fast result in business, you need to make use of technology.
For instance, you can reach more people within 24 hours using digital marketing than you can reach people using offline marketing.
That is the power of technology.
Most top businesses in the world today grow because of the use of technology.
Even those in the agricultural field now make use of technology to make their work faster.
Get a mentor
When you study the lifestyle of an eagle, you will notice that it teaches the baby eagle how to fly.
It also teaches the baby eagle how to hunt for food.
The point is that the baby eagle learns by imitating the adult eagle.
The same thing applies to young entrepreneurs and startups that want to soar high in business. They need to get someone or a coach to mentor them on how to achieve success.
When you don’t have anyone to mentor you, you will possibly take a longer time to achieve the success that you need.
But when you have a mentor, it is possible you achieve your success faster and also go farther than your expectations.
One of the keys to success in business and in life is being consistent in whatever you do.
I have a barber that cuts my hair and I like the way he cuts my hair but he isn’t always around in his barber shop.
At a point in time, I had to stop going to his place because he used to disappoint me whenever I need him most.
I had to look for another barber who was always around and I stuck to him even though he wasn’t as good as the first barber.
Whenever we are inconsistent in life, we will be hurting others because there are people who count on us to get the job done.
You can learn how to be consistent in life.
The truth is that it is not getting the best advice that gives you business success. It is the effort you make that gives you success in business
Some people will never take action even if they have all the necessary information to start a business.
Some people will not get knowledge before taking action and these are the set of people that make a lot of mistakes.
There is also some set of people that get the right knowledge and take action immediately. Those are the people that achieve business success.
If you want to achieve business success, you should get knowledge and take action based on the knowledge you have acquired.
1 thought on “10 Advice For Young Entrepreneurs And Startups”
Thank you for sharing all these tips!
In the early years of a business, it’s important to save on costs wherever possible. One way to do this is to buy used equipment and other secondhand items for your business. You’d be surprised how much you can save on items that are as good as new, just because someone else has owned that product before you. Or, you can also consider leasing equipment.
Cutting costs at the beginning will help you stay afloat when income is usually not very large.