As an aspiring young entrepreneur, it can sometimes feel overwhelming when thinking about how to start a business. From pricing your product to doing your taxes, there is a lot to learn. It’s important to know that you aren’t alone in your feelings. It’s normal and expected to be concerned about how you should start your business. In this article we will address what you should know and help you develop confidence in starting your business.
What Do I need to Get Started?
Many aspiring young enterprises get caught up in the idea that they aren’t yet ready to start their business. Being young and inexperienced might be your reality but it does not need to prevent you from getting started. But what do you need to start a business as a young entrepreneur? All you really need is you.
There are of course instances where you will need to have certain qualifications in order to open your business. Such as an inspection certification for your food service business or a license to operate your specific business. But, outside of these types of qualifications, the most important thing you need is you.
Don’t get stuck in a cycle of constantly believing you need to do the next thing before you begin your entrepreneurial dreams. Taking real action now is the most important thing you can do towards starting a business. It may be a good idea to get educated but don’t let that stop you from moving forward. See our article “What Does It Take To Be An Entrepreneur” to help you decide if you are ready.
Our Tips to Help You Get Started
Have a Plan – Though you don’t need all the answers to get started with your business it is still a good idea to have a plan. Be honest with yourself about your strengths and weaknesses. Sit down and plan out what steps you need to take to get started with your business. Identify the areas that you are great, where you need help, and what actionable items you can work on. Your plan should include how you are going to reach customers, what your services will entail and any other industry specific needs you have. If you need help with accepting payment, records keeping, taxes or social media, then you should also plan to ask question. A plan will help you lay the groundwork for what you need to do to be successful.
Just Get Started – Once you’ve developed a plan it’s important to not get stuck or overwhelmed with acting on it. Although it is sometimes easier said then done it’s important to just get started. If you don’t take real action you won’t find success in your business. Use your plan to your advantage and start making progress in small ways. Not everything has to be perfect from the start. As you grow your business you may find that your plan or needs change, and that’s ok too! One of the best ways to improve your business is by taking control of your actions and allowing yourself to fail. Failing forward and learning can only be done if you take action and get started.
Present Your Best Self – Many young entrepreneurs worry about or have difficulty with being taken seriously. Though this is a common problem that young entrepreneurs face it doesn’t have to stop you from getting started. See our article on “How to be taken seriously as a young entrepreneur”. For great tips on how to present your best self to your customers and colleagues. In many ways being a young entrepreneur can work to your advantage. Always remember that you are the centre of your business and moving forward with confidence in yourself will serve you well. You can’t change how others see you but you can put forth your most authentic self.
Utilize your network – When starting out as a young entrepreneur, networking can be everything. Do your best to nurture your relationships with colleagues or former employers to help you in the future. A great reference or referral from a former colleague can go a long way towards helping you boost your business. If your network is currently small, get out and learn from other entrepreneurs. Consider joining a Meetup group to help you connect with other entrepreneurs. Don’t forget that your family and friends count too. Don’t be afraid to spread the message about what your goals are and how you are going to achieve them.
Use Technology to Your Advantage – As a young entrepreneur you may have an advantage of being more tech savvy than older generations. Use this to your advantage. Many young entrepreneurs find success in using social media along with their websites and traditional marketing. Don’t be afraid to dive in to working on an online presence. If you already have knowledge of these programs it would be a disservice to not take advantage of that.
Get help – Knowing when to ask for help is an important part of being an entrepreneur. Though there are many things you can and should do on your own, you likely can’t do it all alone. If you are feeling stuck or don’t know how to get started it is likely a good idea to reach out to your support network. Friends, family and mentors are great resources, but you may wish to also consider hiring an entrepreneurial coach to help you develop your plan and help keep you focused.
You Have What It Takes
There are many steps that you can take when wondering, how to start a business as a young entrepreneur. Always remember that there is no one perfect way to start your business and simply getting stated is important. Being a young entrepreneur is not a hindrance to your success and may even be a gift. Always ask questions and remember to never be afraid to ask for help. You and your authentic self are all you need to start your business as a young entrepreneur.