Just because you’re a young entrepreneur doesn’t mean you have to make inexperience-related mistakes.
Starting a business at a young age is simultaneously exciting and challenging.
Studying entrepreneurship is different from practising it.Lack of experience undoubtedly will lead to few mistakes; that can be detrimental to your entrepreneurship journey. However every mistake you encounter in your entrepreneurial journey is an invaluable learning experience on the path to success.
If you are now starting your entrepreneurship journey as a young person, either in school or out of school then you should avoid this mistakes as you work to build your business.
From seeking sponsorship to hiring of employees with relevant skills and expertise, typing from my pespectives and experience on what I have learnt as a young entrepreneur,.
In no particular order, below are the top five mistakes you should avoid sternly in you want to clim the entrepreneurship ladder successfully.
Mistake #1: Thinking you are too young to start.
Most youth thinks you have to reach a certain age or climb some academic ladder before you can be an entrepreneur, the truth is, your age must be the last thing you will worry your head about if you are a startup.
All you need to do is to put in you’re a much effort into building something truly great, the only thing that will matter is if you execute. Don’t be timid in expressing your ideas and asking the right questions about your chosen field. That new and fresh idea you are keeping in you is what will shape your future. Never delay and miss out on your turn to create change.
When you lose on a deal, never blame your lack of experience or age but rather see it as part of the learning process.
Mistake #2: Failing to focus.
Set out clear goals and objectives of your business and stick to them. Though your idea may sound great but you need to put that great idea in a written form to prevent you from losing your focus. Avoid chasing “shiny baubles” and stay on course. If something doesn’t directly help you achieve one of the goals and objectives on your list, just say no.
Mistake #3: you can’t do it all yourself.
Instead of trying to wear 10 different hats and insisting you can do it all as your business grows, why not hire a great team to help you. Empower them with your vision — it will be necessary for success and create an amazing environment where everyone is working towards a similar goal. There’s also no shame in asking for help or advice. You should always be willing to learn from those who have a type of expertise that you might lack.
Mistake #4: Not talking about your idea because you’re afraid of copycats.
Never feel paranoid that someone will steal your ideas. If you hesitate to share your ideas to others thinking someone will still your ideas you might lose on great advice or even investment advice that can help you grow your great business idea the truth is, not everyone has the drive to really see it through.
Mistake #5: Hiring your friends.
Don’t just hire your friend because they are your friends or you like being in their company, only hire friends who have the relevant skill set, and if it’s the right move to help grow your business. It’s also important that everyone within the office — including you — can work together effectively and accept constructive criticism, without it being misconstrued as personal.