If you’re a student and an entrepreneur, you will probably get this question: “Aren’t you too young to start a business?”
Your answer: A polite “No.”
Being a young entrepreneur can help you compete with older entrepreneurs in your industry. Here are three great advantages for starting your business at a young age.
1. More flexibility
You have some responsibilities at your age, even if older people don’t believe it.
You have to follow rules and schedules at home and at school. You might have some help, but you still have to balance running a business with your school work and spending time with your friends and family.
This still puts you at an advantage compared to older entrepreneurs who often have more to lose.
Many older entrepreneurs’ responsibilities include taking care of their families, paying bills, and working “normal” jobs while running their own businesses.
Being more flexible makes it easier for younger entrepreneurs to move on, if a business fails, and try another type of business.
2. More open to change
Everyone is naturally creative in one or more ways. All kids and most young people know this. But some people start to lose their sense of creativity as they get older.
That’s why younger entrepreneurs are more open to trying new ways to run a business.
Finding a new and successful business idea is a great way to stand out and bring in more customers for your business.
3. More time
Starting a business at a young age gives you more time to learn, improve, and bounce back from mistakes. If your business grows, you learn what products or services are successful. You also learn about your industry and your customers.
If your business doesn’t work out, you’re still getting lessons that will help you in the future. You learn why your business didn’t grow.
Final thoughts on advantages of being a young entrepreneur
Starting a business can feel overwhelming at any age. But you have three major advantages working for you compared to older entrepreneurs:
- More flexibility
- More open to change
- More time
Keeping these advantages in mind can help you build your confidence as you build your business.