If you’re thinking of starting a business after graduation, you’ve probably heard plenty of discouraging advice. You’re too young, you’re not experienced enough, you don’t have connections, you don’t know how to handle the workload, and everything in between. And you probably know that most of this advice comes from older business people who tried and failed at start-ups in their own time. Of course, the generations before yours didn’t have that one huge advantage that young business-minded people have today – the internet. Because of the global reach of enterprises online, it’s truly become an entrepreneurial age. In fact, over 50 percent of young people say they want to start a business someday, but financial and educational barriers have held them back. If you’re one of the 10 percent or so who are serious about making someday right now, you could find that your youth and inexperience are actually working in your favor.
1. You’re Not Jaded
You can turn the simple fact that you have no negative experiences chasing you away from the business world into fuel for success in a lot of different ways. If you’re not jaded, that means you’re determined. Not only that, you’re passionate, curious, and enthusiastic about stretching your limits. A positive attitude, a willingness to try new things, and the ability to think outside the box are all qualities that thrive in youthful entrepreneurs. Young people believe that anything is possible, and that’s an admirable quality as long as you’re willing to put the work into finding out how true it is.
2. You’re In Tune with the Market
Young people are good at selling things because young people are good at buying things. There’s a reason the 18 to 24 demographic is so big for retailers and other businesses. Studies show that college-age consumers spend an average of nearly $400 a month on things they don’t actually need, which is a goldmine when you’re trying to reach an audience for your own products or services. As a young person yourself, you’ll know what sparks the interest of people like you and your friends, and you’ll be able to pinpoint niches that aren’t being served as well as marketing tactics that work.
3. You’re Flexible
You’re probably not at an age where you have a household full of kids depending on you for lunch money, much less college tuition. When you’re young, you can put in the long hours you need to in order to make a small business succeed and not have to worry about a long list of responsibilities. You might even be one of the 2 million graduates who have moved back in with your parents. If you are lucky enough to have the time and money, you can devote it to making your dreams happen. Before you have a mortgage, you have much more time to take risks.
4. You’re Up on Technology
Business professionals of a certain age have had to get familiar with the internet in ways they never have before in order to keep their enterprises thriving in this digital age. Young people have the distinct advantage of growing up with social media and internet marketing, so the concept of going online to meet your needs isn’t foreign to you. And this generation is so used to adapting to new technology that you’ll likely continue to have an advantage no matter how the business world and the computer world changes.
One thing you can’t forget is that young people also learn new skills faster, and you’ll need a lot of them to make your small business a success. The next time somebody tells you that you’re too young to ever make it by opening a business; you don’t have to let it get you down. Young people are the future, and betting on the future is a good way to guarantee you’ll make a fortune.
– Marie Chan writes on business and entrepreneurship. Thinking of making the leap but lack the necessary education? Several schools offer MBA programs that can help fill in the gaps, including Washington State University and the University of Washington.
