Start up Young

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Start up Young

 

(Source: jarofmielies.co.za

Mark Zuckerberg started Facebook when he was 19. Bill Gates started Microsoft at 20. Steve Jobs started Apple at 21, and Richard Branson started his first venture at 17. 

Here in Nepal, Ranjit Acharya set up Prisma Advertising at 21, Amun Thapa started Sasto Deal at 24, Binod Chaudhary joined his family business at 18 and subsequently took it to a whole new level, in the process turning into a billionaire. Bottom line? You don’t need to be ‘experienced,’ old and grizzled to start an innovative company. There are many things going for you when you are young, and you can capitalise on them.

 

You are an aggressive risk-taker 

(Source: binariaspasoapaso.com

As a young entrepreneur, you are more willing to take risks than you would be when you have hit 40. That’s probably because as you get older, get married and start a family, you start worrying about your family’s financial security, your kids’ education funds and the your family’s overall stability. Also, your zest and energy level will have probably diminished by then. You will no longer be able to work till late nights or pull out all-night brainstorming sessions. 

Ranjit Acharya set up Prisma Advertising at 21, Amun Thapa started Sasto Deal at 24, Binod Chaudhary joined his family business at 18 and subsequently took it to a whole new level, in the process turning into a billionaire. Bottom line? You don’t need to be ‘experienced,’ old and grizzled to start an innovative company.

 

You have fewer commitments now 

(Source: askinmask.com

When you are young, you don’t have too many responsibilities besides your work. This makes it easy for you to pour your blood, sweat and tears into your venture. Unhindered by obligations, your venture can essentially become your life. And let me tell you, ventures need all the TLC they can get. As you grow older, you will not be as free of social commitments.

 

You are updated and on the ball

 

(Source: www.businessnewsdaily.com)  

As a young person, you are probably tech-savvy, and you probably stay updated with the latest happenings in the market. Because you have grown up in a tech-driven environment, you can stay on top of tech developments and adopt new technology quickly. You know how to harness technology to help grow your business.

 

You are open-minded 

 

(Source: www.psicologiamsn.com)

 When you are young, you view the market, your clients and  your target groups through a fresh outlook. Once you have worked within industry frameworks, you may find it difficult to think out of the box. As people age, they tend to get stuck with the traditional approach of doing things, and experience can even become a straitjacket. 

When you are young, you view the market, your clients and your target groups through a fresh outlook.

 

Investors scope out young people 

 

(Source: sbacpa.com

Investors who want to carve out market niches love working with young people. If you are excited about your business and don’t mind giving it your all, you’ll attract venture capitalists, who value these attributes. Investors also like working with young people because they are receptive to new ideas and suggestions and have fewer things to unlearn from their past. Being young, you also have the ability to think fast and do things faster.

 

You can bounce back quickly 

 

(Source: www.design.sabs.co.za)  

The ability to recover quickly from a setback, pivot and get going again is invaluable for entrepreneurs. When you start young, even if your business fails, you will have failed early in life, leaving you enough time to reset and take risks again. Furthermore, if you are still living with your parents, a failed business venture will not mean that the bank will liquidate your assets and render you homeless.  

When you start young, even if your business fails, you will have failed early in life, leaving you enough time to reset and take risks again.

 

Incubators  

With all the hype around startups, the government has created training schools and programmes for young entrepreneurs. These boot camps can help you start out right.  

There will never be a better time in your life than now to give wing to your dreams. Start up young! 

   *First published in M&S VMAG

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Guest Sunday, 25 September 2022