Challenges that Young Entrepreneurs Face
In our present times, the population gets younger and younger. New college graduates range from 18-22 years old nowadays. We awe at young entrepreneurs who gets successful in their field. However though, no matter how persevered the generation nowadays is, we cannot expect each and everyone to succeed. Young people have more roadblocks along the way despite having bigger opportunities. The following are only some of the challenges Axis Capital Group Business Funding, a direct source of business funding based in the US and Jakarta, Indonesia has listed that young people faces:
Being young is often tagged with terms such as “lazy”, “irrational”, “irresponsible”, “unorganized” and naive”. There will always be a good chance that you will be doing business with people who are older than you are and incorporate you with the stereotyping terms. To overcome this, show that you are professional and treat anyone that you interact with like you would want to be treated if you called a company. Soon they will see that you mean business and treat you like an adult.
2. Educational responsibilities
Of course, since you are still young, going to college is a big plus in business. You have to juggle your business venture with school work, something that can be a very rigorous load. In running a business through college you should learn to block off hours for the duties that absolutely had to get done. One friend of mine who started his business in Jakarta, Indonesia and also studied college there told us how he has to answer clients between classes and act all professional but when his teacher caught him, he should be back to his usual self again. In the long run, this struggle to juggle college and business is worth it because the real world experience will set you far ahead of your colleagues.
Because you are young and already own your own business, some people will feel threatened by your ingenuity and success. They may feel the need to doubt your abilities and let you know how hard it is to run a successful business. You may face a lot of complaints from your competitors. All your moves will be reviewed and observed. Always listen to advice but also be weary of those just trying to bring you down. Many people may assume that you will never end up making enough money to make it full time – go ahead and show them otherwise.