Business and Finance

As a 23-year-old business owner, I admit that I have a tiny bias when I say that the ideal time to launch a company is before the age of 25. Despite this, I still believe I have a strong case for launching a business as soon as possible (please note: while I acknowledge that my claims may not apply to everyone, I believe they do to the vast majority of individuals).

Starting a business at an early age helps you avoid putting things off.

Have you ever heard someone say, "I hope to launch my own company someday, but..." In the end, those are the ones who won't launch their own company. They're holding off until the "perfect" moment. the time when every planet is in alignment. It is not going to occur. There's always an excuse you can invent. When you're young, it's either lack of experience or repaying student loans. It becomes your spouse, children, home, etc. as you become older. There's going to be an excuse for putting things off. Starting early helps you prevent developing a procrastination habit.

Younger people have less responsibilities.

You should expect that if something seems difficult at twenty, it will be ten times more difficult at forty. By then, you'll probably be married, have kids, a great car, a house, and a comfortable existence. Consider how tough it would be to try to persuade your partner that you are going to embark on a project that will take up almost all of your free time and may not pay off for a few years. Convincing yourself to take the risk of starting your own business is difficult, and getting your family to jump into uncertainty with you is almost impossible.

You are accustomed to a busy schedule while you are younger.

Students in college are accustomed to staying up late. They are accustomed to receiving emails at midnight from a partner on a task that is due the next day at eight in the morning, informing them that they made a mistake and that they must correct it by morning. They manage to make the deadline in some way.

The atmosphere of entrepreneurship is greatly enhanced by this. You don't start your day at 8:30 and end it at 5:00. It starts when it has to and finishes as soon as the day's work is completed. On certain days, things run without a hitch and you can work from 8:30 to 5. On some days, you work beyond midnight. Everything depends on factors that are mostly outside your control. Despite your best efforts, there will always be unforeseen events that arise. For example, a UPS shipment gone wrong, unanticipated two feet of snowfall, an hour-long delay for an appointment, or a website crash. Pupils are accustomed to this. After twenty years of working the 8:30–5 shift, most people psychologically check out at five every day. That's not something an entrepreneur can accomplish.

Students are accustomed to not having money.

Raman noodles and inexpensive beer are staples for college students. They walk to class and share a residence with three other people. Though they could certainly survive on what they earn over the summer or what their parents provide them, the majority of them work part-time jobs to supplement their income. Why does this matter? Since becoming an entrepreneur usually means that you won't make any money for at least six months, if not longer—it all depends on the firm, of course. Not a big deal for the college entrepreneur. It's a huge thing for the guy who was used to making $100,000 annually.

I was able to launch SportsLizard.com several years ago with approximately $3,000 in funds from a summer internship I had previously completed. It didn't really matter that I didn't make any money for a while. Do you know why? My parents' basement was my place to live. A significant amount of stress is removed when your cost of living is $0.

Younger folks learn more effectively.

Everyone does their jobs well. Experts in computer programming are programmers. Artists are skilled creators. It takes skill to be an athlete. What skills do students possess? Educating. Yes, pupils have a strong aptitude for learning. It is what they do for a living, after all. They are accustomed to seeing something wholly unfamiliar to them and picking it up quickly. As they age, professionals typically become more and more concentrated. They may be experts in one or two areas, but they haven't gained any fresh knowledge in a while. Your skill set may become more limited in the workforce, which is not always intended. This is detrimental to them as a business owner.

As a business owner, you won't have many resources. You shouldn't rely on a secretary to complete tasks that you are incapable of performing. You're not able to hire a secretary! You should prioritize pursuing your passion, which is what you are naturally good at, but becoming an entrepreneur would need a significant amount of schooling.

For instance, it could seem that since I manage a website, learning web programming was the only thing I really needed to do. Few people, in my opinion, would take into account the amount of time I spent studying how to manage my company. I had to learn how to register my business with my county, investigate trademarks before deciding on a name (you wouldn't want to choose a name that someone else already has), and become familiar with the fundamentals of tax law to ensure that I accurately report all of my income. In addition to managing customer service and budgeting, I am also in charge of my company's PR and marketing. Even my seemingly straightforward home-based firm has many moving parts (just think of what would happen if I had staff, rented office space, etc.). A business owner will need to pick up a lot of knowledge fast and have the confidence to put it into practice. Compared to other age groups, young adults are the greatest at this.

Teenagers are accustomed to change.

Being a startup, you will have to adapt frequently, which is one of the reasons you will need to learn a lot. College students are accustomed to moving every few months, switching majors and summer jobs annually. It will be simpler to implement the required adjustments for the benefit of the company if you are at ease with change. It is only normal for someone who has worked at the same job and lived in the same house for fifteen years to be more reluctant to change.

The opposing viewpoint in the dispute

Naturally, the drawback that will be brought up by everyone is the youth's lack of business experience. In case it's not evident already, I see this as a benefit. Industry, in my opinion, will help you concentrate on your strengths. People will compliment you on your skills and push you to advance in that field for years. Even though you are an expert in that field after ten years, you are unable to consider changing careers. It gets far more difficult to become an entrepreneur at that stage.

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