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One advice you would give to a young entrepreneur?

eLdavis

eLdavis

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Today we have a lot of young entrepreneurs out there trying to prove themselves. What advice would you give to a young entrepreneur if given the chance? Personally i think the first thing i would advice them is to take things slow. Most young entrepreneurs today tend to have the habit of wanting to achieve everything instantly. While this can be a source of strength and shows their commitment to their dream, it could also be a weakness to them as they could easily make mistakes. What advice would you give?
 
Young entrepreneurs this time are smarter than mature ones. They are updated and skilled. They research first before the first step of their dream to get started. However, humans as they are, they would be prone to commit mistakes. I would rather advise them to do proper planning and budgeting. To be an entrepreneur means building wealth and facing risks so they need guidance from their parents to avoid failure.
 
If I could give one piece of advice to a young entrepreneur, it's to know themselves first. Be sure to know your strengths and flaws as an entrepreneur. Knowing yourself is the first step in discovering your talents, your passions, and your areas of need. Because being authentic in your business requires that you also know yourself. Your business colleagues and clients will be able to see if you are sincere about your product or service. They'll have greater faith and respect for you.
 
klassicdoll said:
If I could give one piece of advice to a young entrepreneur, it's to know themselves first. Be sure to know your strengths and flaws as an entrepreneur. Knowing yourself is the first step in discovering your talents, your passions, and your areas of need. Because being authentic in your business requires that you also know yourself. Your business colleagues and clients will be able to see if you are sincere about your product or service. They'll have greater faith and respect for you.
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That is very good advice, how nice if it could be printed on the media to get feedback from the new entrepreneurs to get awareness that they need guidance to avoid waste and failure. Planning is a must too.
 
What I always recommend, is to read up on everything needed to run the goal of the business. This includes government regulations. I've seen too many people not knowing how taxes and other government obligations work, until after someone in the government sends them a letter, explaining what is needed from them in their business records.
 
Building one from what others have said concerning a young entrepreneur I would classify a young entrepreneur as a start-up and would highlight the factors as follows, the thing is that entrepreneurs should identify where they would be accessing capital from, they should also keep on working on viable projects, they should also identify with a strong will quality team and lastly develop a solid and consistent network that benefits their business directly and indirectly.
 
Starmix said:
That is very good advice, how nice if it could be printed on the media to get feedback from the new entrepreneurs to get awareness that they need guidance to avoid waste and failure. Planning is a must too.
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Definitely, planning is so important for a business to be efficient and effective.
 
klassicdoll said:
Definitely, planning is so important for a business to be efficient and effective.
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Without planning, there's no smooth sailing of one's business. Planning serves as guide especially to the young entrepreneurs. They might get excited being called an entrepreneur but behind that happiness a deep and hollow risks await if their venture isn't planned seriously.
 
Starmix said:
Young entrepreneurs this time are smarter than mature ones. They are updated and skilled. They research first before the first step of their dream to get started. However, humans as they are, they would be prone to commit mistakes. I would rather advise them to do proper planning and budgeting. To be an entrepreneur means building wealth and facing risks so they need guidance from their parents to avoid failure.
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I think that young entrepreneurs may be a bit inexperienced and this is also one of the main reasons why they may struggle when it comes to entrepreneurship. This is a very important thing and they may need to learn many different things related to entrepreneurship during the initial stages.
 
Passionate-writer said:
I think that young entrepreneurs may be a bit inexperienced and this is also one of the main reasons why they may struggle when it comes to entrepreneurship. This is a very important thing and they may need to learn many different things related to entrepreneurship during the initial stages.
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There are young entrepreneurs who consulted their doubts to their parents, others to the famous investors but there are also who don't conduit. They're so aggressive to start right away. My advice to them is they have to do constant innovation of their plans, think of the right marketing and know their targets.
 
Start a business in an industry that you are passionate about and believe in. Your excitement will help you persevere in difficult circumstances. Make a comprehensive business plan. This document should include your business goals, strategy, projected revenues, and how you plan to implement your ideas.
 
One thing that I think a young entrepreneur should understand is that business requires patience. And the advice I would give to a young entrepreneur is that if he or she is sure of a his or her business proposition, they should be patient and hang on and not he in a hurry for results.
 
What I would advise a young entrepreneur is to value the gift of uncommon mentors. He or she can leverage on their experiences to grow their own businesses.
 
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