Being your own boss is apart of the American dream and Millennial’s are no different in wanting to attain this goal.
“However, it has become apparent that less and less Millennial’s are finding success with entrepreneurship than previous generations,” said Issa Asad Florida entrepreneur, businessman, and social media expert. Asad is the CEO of Q Link Wireless and Quadrant Holdings, located in South Florida. He is also the author of 4 e-commerce and marketing e-books that can be purchased on Amazon.
Here, Issa Asad Gives 4 Tips for Millennials Who Want to Be Entrepreneurs:
Do not wait for a magical benefactor.
One of the leading reasons millennial have not been engaging with their entrepreneurial spirit is because of the upfront cost. While creating an online business is expensive and time consuming it is one of the largest emerging areas for a business. Many Millennial’s suffer from some sort of student debt and low cash flow. This is not uncommon but it also should not be an excuse fro not perusing your business goals.
Say you need a website built, but cannot afford engineers. What do you do? Learn to code! There are a plethora of resources online for learning critical skills to help build a business. Don’t let your day job stop you either. You need to be willing to go all in for your goals. No matter what you need to learn to take your business from a dream to reality you can make it happen easier now than ever before.
Build upon whats already there.
It is easy to become discouraged if your idea isn’t a groundbreaking new niche in the market. You cannot think this way. In fact many successful businesses now are just evolution of new innovations. Society is constantly shifting especially technologically. If you see something done that has been successful and is rather close to your concept for a business don’t let that discourage you. In fact see what the are doing wrong and make it better. Competition is an important aspect of the marketplace and there is always space for a great company. There is a quote you should remember before allowing yourself to become discouraged. “There is always room for another good one.”
Innovate the innovation. We are constantly building upon one another as a species. Don’t let that behavior discourage you from starting your business. Let it inspire!
Selfishness leads to ruins.
Do not allow yourself to make your efforts solely about you. If you enter with the mindset of making it big or rich you are bound to fail. What you are building is a culmination of your vision and efforts not a get rich quick scheme. In fact in modern times it is not uncommon for most startups and new businesses to not turn a profit for quite some time. Uber is a great example. As on paper the company is operating at a loss however the value and innovation it has brought to the market is staggering and their platform itself has become a source of great value and is worth investing in. You will not have your prime returns overnight and in fact it may be many years before you start to see a profit turned. If you are only interested in self enrichment you are bound to fail. Let your passions guide you and do not focus on yourself, focus on creating something meaningful.
Collaboration is key.
You have to work with others. No matter what, you will not be a sole innovator and operator of your businesses success. Yes it will technically be your own but you will be reliant on the relationships and networks you cultivate during the business growth. Treat your partners and employees with great respect. Seek guidance and help from others in the field. Do not ever burn a bridge because in the business world fire spreads quickly and you will alienate yourself before you ever get your company up and running.
We have not come this far doing it alone. All of our achievements have been the culminated efforts of many, and a entrepreneurial effort is no different. Jeff Bezos did not start Amazon alone. He took years of relationships and guidance from successful people and applied that to Amazon. His wife was also an integral part of the company at it’s infancy. Jeff Bezos did not do it alone, Steve Jobs did not do it alone, and you will not do it alone either.
Hopefully with this insight, you can understand how it is possible and there are very few excuses to not attempt to execute your vision. Remember these important tips and be aware that it will take a tremendous amount of effort and time but if you can push through the difficulty it may only be hard once.