Tips for Young Entrepreneurs to Ensure Success

Adults have dominated the business world, but youths have proven to be a formidable force. From a 13 year old debuting her line at New York Fashion Week to a teenager turning her childhood to a global business, young entrepreneurs have developed a standing in the business scene. Whether you’re a budding entrepreneur or a teenager with an innovative idea, we’ve crafted a recipe for the longevity of your success.

Find Guidance

Being mentored is crucial, even experienced adults look for mentors. Is there anyone in your family who is business savvy? Think about friends of your family, is there an adult that you can reach through social media? Having someone who could provide valuable counseling and advice could prove to be incredibly beneficial for your business venture. If there’s no one you can approach in the immediate circle of people you know, consider asking your friends and family if they could introduce you to someone that could mentor you.

Communicate to Convince

From the moment you begin your business venture, you will be practicing the art of persuasion. As a young entrepreneur, you have to pitch your business idea to people and above all, get them to believe in it. This requires a lot of writing and speaking, and an eloquent presentation will be beneficial for your business. Don’t forget to be personable and sincere as this builds trust quicker.

Build Credibility

While your youth may give you fresh eyes and new approaches to issues, it also paves the way for doubt. It takes a longer time for people to take a teenager’s business venture seriously, so you have to work harder to prove yourself and your product or service.

Start by working on your branding on your social media. Post, tweet or blog about topics related to your business, and ideas that you have that could improve how things are done.

Boost the credibility of your product or service by showing customers what it can do for them. Whether it’s promoting its features on social media or allowing people to use your product or service for free, find ways to show its value. The longer you stay with your business venture and the more positive reviews you gain, the more credibility you’ll gain.

Unwind 

By juggling homework, extracurricular activities, your family and friends, and finally your business venture, you’ll have to find a way to handle your stress. Unhealthy levels of stress and anxiety will affect your schoolwork and your business, as well as your mental wellbeing. Take time to unwind by spending time with the ones you love, or engage in relaxing and fun activities. If you’re far too overwhelmed, consider taking a break from your entrepreneurial ventures. It’s not worth putting your mental health and schoolwork at risk.

Innovate, Innovate, Innovate 

There will be many businesses out there similar to yours. Find a way to distinguish your brand from the rest. Do some research on your competition. What are they lacking and how can you make up for it? Sometimes, it’s the little things that matter. Furthermore, when two brands are incredibly similar to one another, people tend to favour the one with better customer service.

Treading the path of entrepreneurship isn’t easy, but follow these tips and you’ll go a long way. Failures are a part of the journey, but it’s about learning and getting back in the game. Work hard and work smart. If you play your cards right, you’ll carve a life your future self will be thankful for.

 

 

Adapted from Entrepreneur.