10 Reasons Why It Rocks To Be a Young Entrepreneur

Every entrepreneur has a unique story about why he or she decided to start a business. Some of us, at a very young age, may have already realized that we want to start our own business and others come up with business ideas while working for someone else and decide to start the entrepreneurial journey. 

Most business owners will agree on one thing — being an entrepreneur ROCKS!

There are endless reasons for this, and every entrepreneur will have his or her own personal reasons as well. 

Top on the list, we all want to live with a sense of purpose. We want better lives for our families, as well as happiness and satisfaction with the things that we do. Having a business helps us do these things. The reasons for wanting to start your own business may be motivated by financial need, the desire to be your own boss, involvement in the family business, or the push for a sense of accomplishment. 

Deciding to start your own business is a leap of faith. It requires getting out of your comfort zone and trying something new. If you believe that you must start your own business. You would be happy if you started while still young. Here’s why:

1. You can achieve financial independence.

Many people start a business with the dream of financial stability. While it’s true that getting your company off the ground can take courage and result in some tough times while you’re getting started, the ultimate goal of being your own boss is cultivating financial independence. With determination and hard work, there’s no cap on how lucrative your own business can be. If you dream to build wealth, there’s no reason why you can’t achieve that goal if you start young.

2. Starting young has all the benefits of building an enterprise that has the potential for growth – and your wallet grows as your company does. In addition, your business itself is a valuable asset. As your business thrives against odds, it’s worth more and more. You may decide to sell it or you may hold on to it and pass it down to your heirs. Either way, it’s valuable.

3. Young entrepreneurs can more easily adapt to any kind of environment, age, and culture. 

4.  You create from nothing.

This is your business! You make the rules. You’re not restricted by the standards and procedures of your boss or corporate rules. You can offer a product or a service that fits your goals. You can also build your company according to your own terms

5. The younger you are, the better you are at tolerating risk. Business is about risk. The up-Down bounce favors the young more.

6. Young people are also more resilient and are unlikely to give up until they get what they want.

7. Tax benefits

Starting your own trade requires capital and it may take some time to turn a profit, but you can start taking advantage of some substantial tax pacts right off the ground. Government programs support small business entrepreneurship and seek to reward these endeavors with unmerited tax incentives.

Work with a financial planner or an accountant to make sure you’re setting up your business in a way that will allow you to get the benefit of these government programs. They’re there!

8. Experience is the best teacher. How about you learn early.
Most young entrepreneurs who truly love what they do end up starting multiple businesses, thus becoming serial entrepreneurs. Moreover, the new businesses they start are better run than the last one they built because experience has made them better entrepreneurs

9. You’ll become an expert at a wide range of skills.

Part of running your own business is learning to wear a lot of different hats, especially early on. You’ll have to pick up a lot of new skills, from HR decisions to inventory management to customer service. You’ll soon become a pro in your own industry, as well as a pro at a number of new skills you’ll learn on the job. As your business develops, you’ll continue to acquire new knowledge and abilities. You’ll know how all minute details of your operation works. You can’t afford that kind of experience anywhere else

10. Building your own value based career.

An early bird can whistle any time and be remembered because the tune had no interruptions. Aligning your personal values with career values is an intensely gratifying experience if you start young. Someone who believes in dissemination of information for instance, would probably find a career in media incredibly fulfilling. 

You don’t have to find that perfect job; create it! Entrepreneurship allows you to fashion a life and career that directly align with your core values, like starting your own media to give knowledge or information.

START NOW
Having your own business may be a tough nut thought. But you must also know that there are a few things that you need to think about. 

1.    Competition is stiffer and unforgiving among businesses of the same nature.

2.    You may lack the appropriate resources that you need for the kind of business that you have in mind. Be creative

3.    Some businesses that maybe “trending” now may lose their “oomph” after a few months or a year. See ahead

4.    You may have an idea on how your business should work, but what you know may not be enough. Think like there’s no box!

5. Although some successful entrepreneurs were not able to finish school, certain goals require education. Never stop learning

By starting young, you develop a discipline which will help you become enviable tomorrow. You may not be business giant, but your success is mostly in the fulfillment of your dream of becoming an instrument for the success of others.

Take inspiration from successful people of today. Never be afraid to seek help and learn from those whom you think can guide you in starting your own business. You may just become a successful entrepreneur in the future.

Bushebi junior is the Director of Clearsol Africa limited and Depression Kenya