As a young entrepreneur, eager to take the big leap yet apprehensive about the shortcomings it may entail can be quite nerve wracking. Here are some tips and guidance for all those in a dilemma like this.
1- Learn and grasp knowledge as much as you can before you head out to start your own business. It’s not as glamorous as current news sources would have you believe, but if it is your calling, then there’s no better place to be. Don’t be afraid to work at another startup or two before launching your own business either. This is because it’s very essential to know how it is to work under someone else before you become the CEO yourself.
2- Innovation is important. “The entrepreneur of this age is one who discovers where the world is going and goes there first.” This quote is often attributed to Microsoft founder Bill Gates. It has been adopted by many millennials in their bid for entrepreneurial dominance. Not everyone is going to make something out of nothing. Sometimes, you only have to watch what has been made and make something new out of what is. For instance, rather than create the world’s next Samsung, why not invest in creating the best music app on the Samsung Galaxy?
3- Find a support team that will have your back when things go down hill. And also a team that believes in you and boosts your confidence. At the same time don’t be hesitant to ask for help when you need advice or when you’re in a fix.
4- Success is never self-made in business. Millennials need to drop the idea of the self-made and start seeing business as a space dominated by strategic partnerships and affiliations. And don’t try to be a do-it-all. Start small and then improvise and expand.