An entrepreneur is a person who organizes, operates and assumes the risk for a business venture. If there is a time to take a risk — especially if it pertains to business — you better believe that you should take the leap of faith while you are in your 20s.
Sure, many Millennials have college debt and bear the responsibility of putting roofs over their own heads without help. According to the Pew Research Center, only 20 percent of 18-29 year olds are now married (compared to 59 percent in 1960).
For many young adults, their 20s is a decade when they don’t have to worry about mortgages, spouses, children or car payments. It’s okay to be selfish and focus on careers (or the new bar you’d like to visit over the weekend).
Why not grow your own business instead of climbing the corporate ladder? Doesn’t taking the risk of being your own boss sound intriguing? It might be one of the only chances you have in your life when you’ll have the freedom to embark on such a memorable business adventure.
If you are a great cook, test to see if people will buy your food. Maybe you can launch a successful food truck business. If you have graphic design skills, seek companies who can utilize your services.
Established businessmen and women respect the ambition and drive of young entrepreneurs. You’ll be able to market yourself easily through social media (we all love some newsfeed self-promotion). Decision makers may want to listen to a Gen-Y entrepreneur to learn where the future of certain industries may be heading. Young entrepreneurs have a certain, unmatchable drive and charisma that others will gravitate toward.
There will be many people along the way who will be skeptical of your vision or who will say that you don’t have the experience or expertise. They may like to go with a more “established” business that can offer a well-known track record. Upon choosing the path of entrepreneurship, a lot of rejection will come your way.
But rejection is nothing that Gen-Y can’t handle — the majority of Millennials graduated during the worst economic situation in decades.
In a Forbes article, Brock Blake states, “While betting on experienced batters can certainly produce doubles, triples, and even home-runs; the grand slams of entrepreneurship come from the young and ill-experienced twenty-somethings.”
Google, Apple, Microsoft, Facebook and Wal-Mart all started with a young entrepreneur. In Mark Cuban's 12 Rules for Startups, he stated, "don't start a company unless it's an obsession and something you love."
If you are in your 20s and have a skill that you truly enjoy practicing, you’ll be excited to wake up every morning to grow your brand. You can determine whether or not the risk is worth the reward.
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