Chasing the Dream: Tips for Young Entrepreneurs
Everyone dreams of being the next big success story. Not everyone is successful. The vast majority of failures are from people who never move beyond the idea stage of entrepreneurship, but with hard work and passion, you can beat the odds.
From idea to entrepreneur
First, it’s important to understand that all businesses start as an idea. For instance, 1-800-FLOWERS was conceptualized while James McCann, the company’s founder and a former bartender, was shaving and listening to the radio. Airbnb was founded when two struggling college students decided to rent out part of their loft apartment to people trying to find accommodations for a design conference in San Francisco. The difference between success and wishing for success is what you do with the thoughts in your head.Problem solved
Just like all businesses begin as an idea, all successful businesses solve a problem. Determine what that problem is and the types of people that experience it. This is your market. As much as you’d like to think your product appeals to everyone – and it very well may – it’s the initial niche that gets your foot in the door and gets the ball rolling on your business. Inc. offers more advice on how to determine your target market and narrow down specific demographics most likely to need your product or service.Set yourself up
Your workspace plays a more prominent role in your success than you might think. Being organized means you can always find what you need when you need it and won’t be wasting time in areas that don’t directly contribute to your success. If you plan to work at home, this starts with your home office. Your workspace has to fit your lifestyle, whether it means camping out on the sofa with your laptop or creating a dedicated office space. A few constants no matter your personal preference include having the right equipment, which includes electronics, a sturdy desk, and, if you plan to talk to customers on the phone, a dedicated phone line. Set ground rules with your family when it comes to popping into your office without notice.Find a mentor
It doesn’t matter how smart or how dedicated you are – a mentor can be your biggest ally in achieving the success you want. Forbes’ Senior Contributor Kathy Caprino says that a mentor is not someone you chase hoping for free advice. Instead, it’s someone you admire and with whom you have a relationship. The best mentors are the people you already know who are leaps and bounds ahead of you, and are already killing it in your dream field.Work like you want it
To reiterate, it doesn’t matter how smart you are. You may be the best at what you do, but if you’re not willing to put work into whatever that is, your fledgling business will soon fly the coop. It’s not enough just to put a little effort into your business. It has to be your passion, and speak to your heart and soul. Your business has to be something that everyone around you can see that you love. This might mean late nights, knocking on doors, begging for loans, and getting up after failures. There will be days when you think it’s just too hard, but you have to learn not to listen to your doubts. These five inspirational people are perfect examples of how hard work pays off.As a young person graduating college, it’s easy to get excited about the possibilities for the future while simultaneously doubting yourself in a world dominated by those more experienced. Never let self-doubt get in your way. Create opportunities to learn from – and become like – the people you admire, and keep yourself and your workspace organized and ready to work at all times.