UNIVERSITY STUDENTS::Why you should start a business before you are 25 years old.

Why you should start a business before you are 25 years old

PROF .OLIVE MUGENDA

THE GIFTED AGE:

There is nothing better than making it big when you are young. Unfortunately as things stand entrepreneurship or talent utilization-think of Wanyama,are the easiest avenue for youths to make it big.Employment is good but the bitter truth is that it is very hard to become a young millionaire when working for someone unless you do some shoddy deals. There is never an appropriate period or time to start a business,but to me starting a business before you are 25 years old is very exciting. (IN CAMPUS ?)
Here are some of reasons as to why you should start

 1. You have little to lose

The best thing about starting a business at this age is that you have little to lose,rather you have so much to gain. By basically starting a business you will be able to practically apply things you learnt in college. That is things like preparing a realistic business plan,a balance sheet,customer relationship among other things.Furthermore if your business fails you will have learnt some valuable lessons i.e mistakes to avoid in any future business pursuit.

2.  There are many mentors who are willing to help

The beauty about starting at this age is the availability and willingness of experienced people to help.  When you are hardworking and passionate about your business,it will be hard for the successful entrepreneurs to shy away from helping you.Furthermore nobody hates being associated with the Next Big Thing.  As they say success has a thousand fathers but failure has none. These mentors will guide you from making the 1st step to accomplishing your goals and visions.

3. You can take risks

At this age your family probably supports you to some extend,this means that you can take more risks without having to worry about your  food,rent among others.If a young person starts a business, it’s not because they need to money to feed their family,pay school pays because your family caters for that. This means that you have more freedom to take any business risk that may arise in the course of the business without worrying about bills.

4. Explore your creativity

It is hard for old people to come up with new ways of doing things but for teens innovation is part of their day to day activity.Adults have often learned and heard of many different ideas and they find it harder to solve problems in a creative and innovative way. The old people have a clue about what will fail or succeed because they have seen businesses fail and succeed. For under 25 they are willing to try out something new to see if it will work out .

Here are are tips to help you on starting your business

•  Do thorough research on your business idea

It is very important that before going to investors the young entrepreneurs should ensure they know everything about  their business i.e the product or service,the industry etc.You need to have thought of every possible question that may be ask and a good answer in that matter.

•  Determine exactly who your customers are with great specificity 

You should pinpoint your targeted client so that you focus your marketing efforts to ensure you reach them. This means you will be able to ask for the right referrals and you know who and what to search for

• Surround yourself with people who are good at what they do 

The success of a business depends largely on the abilities and professionalism of the team as a whole. It is important to remember you are only as good as the people you work with. This means if you create a weak team, you will have a weak product, but if you have a great team you will have unlimited potential.

•  Align your business to your interest

Don’t just start a business because so and so is doing it or because your friend told you there is good profit margin rather start a business in a field that you are passionate about. Find out what you love doing then research on a business that you can start on that field.

“Don’t worry about what the world needs.  Ask what makes you come alive and do that, because what the world needs is people who have come alive.” ~Howard Thurman 

BY PAUL MUTURI..

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