One of the greatest advantages to starting a business during your teenage years is the fact that you have a massive network of family and friends to rely on for support. Wondering if your business idea has been done before? Chat with your history teacher. Need to test a new feature of your tech product? Ask your friends for 5 minutes of their time. The important thing to remember in this period of time is to always show gratitude. Asking for help from your network is one of the smartest things you can do, but showing gratitude to each individual who actually gave assistance will carry you and your business to new heights in the long-term.
In the case your business idea or startup fails in the early days, you still have a home to go back to, parents to support you in life, and that experience of failure to help shape you in your next venture. Certainly it won’t feel great to fail, but it’s important to experience such adversity early on (in life and business) so you can quickly learn from your mistakes and pick yourself back up. Your passion to keep going is one of the strongest advantages to being a teen entrepreneur.
Not having a whole lot of business acumen early on also can be an advantage. How so?, you might ask. Because without having formal or informal work experience to start off with, you are starting fresh in the business world and therefore are more innovative, enthusiastic, and less afraid of risk.
Another advantage of being a teen entrepreneur is literally your age. Being called ‘tech-savvy’ is no joke; it’s a compliment! As you live in an era of ever-evolving technology, being integrated via so many new avenues (like social media networks, the internet, and smartphones) allows you to connect with a wider set of resources than your predecessors could have dreamed of.
However, learning to be a successful teen entrepreneur is not just about the short-term gains. Entrepreneurship teaches you responsibility, decision making skills, and leadership at an accelerated pace (as you must learn how to balance everything at once). Being a teen entrepreneur offers real-life experience of managing risk and reward to help prepare you for bigger challenges in both your personal and professional life that you may face as you get older.
While starting as a young entrepreneur obviously has more than just the five above advantages, it’s important to start with the ones noted above as they all have a consistent element: reminding you of your age! Don’t try and act years older than you are because your age is the number one reason you are so creative, open-minded, and set up for success. Once you embrace the advantages of your age, take your new business idea and read our top 5 tips on how to be a successful teen entrepreneur!