Entrepreneurship is a buzzing word these days around the globe. An Entrepreneur now is almost equivalent to a celebrity. USA still remains the place which produces most startups annually, followed by UK and India. No prizes for guessing Silicon Valley is still the King when it comes to startups. Apple the most valuable brand and Uber the most Valuable Startup are also from that region.
The culture is changing around the world, which is still dominated by job seekers rather than job providers. Many dedicated colleges are being setup to encourage entrepreneurship. Around the world, governments are making a point to have startup friendly policies. While the trend still is to start your own venture when you have had fair share of experience building others dreams. There are many well-known entrepreneurs who started at a young age to build their own dreams.
Mr. Steve Jobs for instance, or even Bill Gates his arch rival. In today’s era, we have the likes of Mark Zuckerberg who has created this giant known as Facebook. Now you may say they got lucky or they had really unique ideas, but I would like to say the key to success was they started early. Yes, Bill Gates was just 15 when he started his own venture. Whereas Mark Zuckerberg was in his early 20’s when he started FaceSmash and eventually Facebook.
Mr.Ritesh Agarwal, Founder of OYO Rooms, started Oravel Travels at the age of 17. He is also known as Mark Zuckerberg of India. The Company is now valued at over Rs 3000 crores and raised new funds last August.
Well it’s definitely one’s own choice when he/she wants to become an entrepreneur, I’m going to suggest why it is important to get into it at a very early/young age.
Since, you’re young you easily accept change. You are full of energy, enthusiasm and are flexible to work. You don’t wait for things to happen on their own, instead you make them happen. It is this energy and passion which can make you achieve greater things. Our friend circle is large and hence we discuss our ideas with like-minded people. Forming a team is easier with people you know personally. Also, your body allows you to go that extra mile, skip some sleep just to work a bit more. As a young person, you have very little to lose even if the venture fails, it’ll teach you a lot more.
Since you’re young, you’re more likely to think differently from the obvious. Explore more options, have a lot of ideas popping in your brain. You want to change how things are done. Hence, creating unique business ideas and models which ultimately result in solving a lot of problems. Well, of course they need to be feasible enough to be implemented.
Well, as we grow old we settle down, have a family of our own. Stepping into a venture at that time scares a lot of people since you’ve got the whole family pressure going on. You’ve maintained a certain lifestyle since you were employed, it’s not easy to change that. Initial stages of a startup you sometimes don’t draw your salary or just take few dollars to fulfil your basic needs since it’s required for the welfare of your venture. Some people do have pressure from parents when they are young but it can be managed for few more years.
Failure Will Only Make You A Better Employee
It’s a sad fact that 90% of New businesses and Products fail, and to frighten you a bit more the number is increasing. But that shouldn’t stop you from venturing out to new ideas. Even if your venture happens to fail, look at the positives which we can draw. You’ll either start working on a new B-plan or look to join a company. If you choose the second option you will be at a greater advantage to others looking for a job. You’ll have a mindset of an entrepreneur who are leaders, companies are on lookout for such personalities. Since you must have been in the top management position your next role is most likely to be in one of those key positions.
Your work will speak for itself even for a failed entity, it takes a lot of courage do that much of work, even if it is for a failing cause. Your experience and decision-making skills is what’s going to take you to new heights. Networking will also play a key when you lookout for a job after shutting down your business. Eventually when you’re hired you are more likely going to be one of the best employees of that organisation.
Yes, an entrepreneur can become filthy rich in few years. Become very popular and a brand in themselves thanks to social media. But it’s important to “Chase the Vision” than the money. The money eventually follows. As Mr.Jobs once said If “you love what you do, you wont need to work for another day”.
Do comment below if you could think of some more reasons or if you disagree to this though. Do Like and Share if you find the Points Valuable and let the world be Inspired to Start Young.