Do you and other young entrepreneurs have unique advantages when it comes to running successful businesses, even during the coronavirus pandemic? Yes! Here are three unique and powerful advantages of young entrepreneurs:
1. More time
Let’s start with the obvious. Many young entrepreneurs have more time to start a business, compared to older entrepreneurs. This is even more true now that many people are staying home during quarantine to slow the spread of the coronavirus (also known as COVID-19).
Generation Z and Millennial entrepreneurs have more time to learn how to run a business. One of the other advantages for young entrepreneurs like you is that you also have more time to recover from mistakes and even major business failures.
2. More flexibility
Suddenly spending more time at home can be stressful for people of all ages. You may be dealing with ongoing changes with your school’s schedules, arguing with family members, among other things.
The good news is that despite these issues, another one of the advantages for young entrepreneurs is being more flexible than older adults when it comes to running a business.
Why? Because you don’t have to deal with certain responsibilities including raising children, caring for older parents/relatives, paying expensive bills (such as a mortgage, insurance, car payment, etc.)
This gives you more mental and physical energy to focus on the next of these advantages for young entrepreneurs.
3. A new perspective
Just when you started hearing business advice from older entrepreneurs, a pandemic broke out and changed most of our daily routines. You haven’t been doing “business as usual” for years, or even decades, like more experienced entrepreneurs have done. This is one of the biggest advantages for young entrepreneurs, even though we’re all seeing major changes in business and in life as we know it.
Your new perspective makes you more open to learning about new apps and other new ways to run a business. This also makes you more willing to take risks, which is a necessary part of being a successful entrepreneur.
Final Thoughts on advantages of young entrepreneurs
Many entrepreneurs are asking questions such as, “What will my business look like during the coronavirus pandemic?” and “What will happen after the pandemic ends?”
The three advantages of young entrepreneurs include having:
- More time
- More flexibility
- A new perspective
So, you can confidently face the future, even if you can’t always predict it.