“Once a boy enters his twenties, he is no more a boy. He is now a young man ready to take on this world.” – Unknown
As youngsters in their twenties, we are all riddled by a big question, “Is starting a business right now a good idea?” Almost everyone faces this question at some point in time in their life. People in their 30s or even 40s now have faced this question before, when they were young and strong. As we all ponder upon this question, the most diplomatic answer would be, “It depends.”
However, countless examples of successful businesses, which entrepreneurs started in their twenties flood the market today. The biggest examples include the likes of Steve Jobs(founded Apple Computers at the age of 21), Elon Musk (founded Zip2 at age 28) and Bill Gates (founded Microsoft at age 20). All these people are huge names in the business world and are revered by peers and business students all alike.
Business Doesn’t Need Age – It Needs A Savvy Mind
Age has never been a factor to become a successful entrepreneur. If anything at all, companies founded by youngsters get a longer time to mature and stabilise in their business. All this happens with the founders still at the helm of the business while they reach great heights. As an entrepreneur, you need a keen eye for the right opportunities and a passionate heart to solve a problem for the people.
Doing a business requires you to put in efforts, work on goals, deadlines and requirements of other people, all this while not letting it conflict with your interests. A businessman puts the requirements of his customers, clients, partners, financers etc. on the top priority list and works hard to ensure those priorities are attended to properly. An entrepreneur gathers a team of like-minded individuals that works towards a common goal.
The shortest possible list of requirements to become a successful businessman has three things – goals, a team, and skills. Your age is not a part of that list.
You Are More Energetic in Your Twenties
A 25-year old will tend to be more energetic, passionate, and willing to fail in comparison to someone a decade, maybe two older. This is the time when you have the energy to fail and get back up and start fresh. You can hustle a lot more when you are young and learn as much as possible. By starting your own venture when young, you get more time to make mistakes, learn from them, and build a successful venture in the long run.
So…What Business Should You Opt For?
Most typically, solving a local problem with your venture will get you success. You don’t necessarily have to be an innovator, although that would be great. Also, you can solve any problem people face. Even something as simple as opening a clocks and watches store in a locality could work wonders. This is especially true if there are no other watch shops nearby. This is just an example, there could be more such things. If you have a special idea, such as that of the WaterWheel, that would not only give you a clear road to success, but you would also be making the world a little better place for everyone. Do not despair if you don’t have an innovative idea of your own though. A business doesn’t work only on ideas; keep that in mind.
Then…What Should You Do?
- Start off by setting your eyes on a type of business. Remember, there is no small or large business; there is just business. You could be a shop owner or a product manufacturer or a marketing professional; it is all up to you.
- Once you have decided on the type of business you want to be in, start gathering skills needed for it. Just management wouldn’t do; you need to be ready to dive into operations and executions every time needed. Being an all-rounder will take you ahead of the competition. Guess what? Your 20s is the perfect time to learn those skills.
- If you like reading, you have a plus. Reading broadens your perspective. The more you read the better you can relate to things. You don’t need to only read what is related to your stream; all kinds of books are good for you. The more you read, the more information you have and subsequently, the better you can make dots connect.
- Start looking for patterns. This is a critical skill needed for every businessman. As youngsters, we have a better cognitive ability to etch out patterns and make relevant connections in the mind to come up with an ingenious idea to make your business zoom past any competition.
- Meet as many people as you can. It is always useful to meet all types of people. This might seem repetitive and may get boring. However, meeting people is how you make contacts and contacts are a very important need for businessmen.
In a Nutshell
When you have business acumen, staying put is out of the question. Age has never been a factor in deciding an entrepreneur’s chances of success. Taking risks in your twenties is fine as long as you learn from your experiences and make the most of them. Building up skills, meeting new people, and finding patterns in seemingly random things is what separates a great businessman from a mediocre one.
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