It’s my opinion that if you are in your 20s right now and not currently, or haven’t given any thought to the idea of being an entrepreneur or owning you’re own business…
YOU ARE CRAZY!
Now please don’t take this the wrong way, without those who are currently working various positions for companies that they didn’t start, which would be the majority, us entrepreneurs would have nothing. We need you and you are very important part to both start ups and established companies. I’m not saying entrepreneurs are better or more important than you, I’m also not implying that we’re smarter or more valuable to society. I’m writing this to encourage you to see what I see, which is that the absolute best time to start a company or push on a good idea is when you’re young, dumb enough to believe you can actually do it, and don’t have the responsibilities you will later on in life.
I have highlighted three big reasons millennials in the 20s age range with college degrees or not, should be starting their entrepreneurial journey right now.
- Risk Is Lowest Now & It Increases Substantially The Older You Get
I’m going to guess that most of those reading this probably don’t own a home yet and don’t have a mortgage to cover every month. You’re most likely not at the point where you need to support your husband, wife or kids. Starting a business, and being an entrepreneur carries incredible risk, but if you try and fall in your 20s you’re going to be just fine; I promise. You will get up and you will recover.
People are more forgiving of failure when you’re young. How many people have told you about all the mistakes they made when they were young and used that excuse of young age as the main reason for their mistakes? It’s like we get a free pass on a lot of things because we’re fresh out of college or new to the working world and carry around a baby face. Use that to your advantage, if your start up fails in your twenties and you want to go back to working for someone else your resume is going to be evaluated on the experience and leadership you gained during that start up and not on the the failure of it. Now you may find yourself at an interview being asked why it failed, but you’ll walk out of there being remembered not for your excuses for why, but for having known exactly why.
A lot of us in our twenties are still receiving some kind of financial help from our parents and today more millennials are living with their parents than ever before.
I’m not trying to bag on my generation, I love my millennials generation.
For most of those living at home, it isn’t by choice, but because of the economy and the world that we came into. So lets use this to our advantage, if were paying little or no rent, it leaves us with more financial flexibility to use on our entrepreneurial projects.
Let me sum it up:
– Not married
– No kids
– Still receiving “any” kind of financial/living support from parents
If this sounds like you, what are you waiting for?
2. Your Social Network Will Never Be Better
Notice how I didn’t say bigger, I said “better.” The older you get the bigger your network might become, but I can guarantee you that your network will never be stronger than in your twenties. People grow apart and we lose friends and connections every year, not because we don’t care anymore or want this to happen but because life happens. We move, we start new jobs, and we meet new people, quite simply life gets in our way. If you want to build something special that is going to be successful then you’re going to need help, you’re going to need advice and you’re going to want to leverage a lot of your connections. Maybe that person is your college roommate whose father is a contractor and can help with your build out, even if he can’t, at the very least he can help make sure you don’t get ripped off. Maybe your recreational soccer teammate knows someone who works with upper management at Target and can help set up that once in a lifetime meeting for you that could potentially get your product out to millions. You get the point.
We’re young, more outgoing, more optimistic and more willing to reach out and ask for help then we ever will be. We our more active now in our twenties and building better “stronger” connections that need to be used now and not saved for later.
3. We Tend To Regret What We Didn’t Do & Not What We Did
I don’t ever want to hear any of you say “Hey, I had that idea!” Guess what? Ideas are worthless. There are 7 billion people on this planet and if you really think you had that idea before the other 7 billion you really are crazy. It comes down to who has the motivation to go for it, the resources to execute on that idea and make it happen.
If you fail, and the odds say you probably will, at least you wont live with the regret of
Life is a constant collection of failures, but we try and learn form those failures in order to move on smarter, stronger and better prepared. If you fail, I can guarantee you the lessons you learn from entrepreneurial failure will make you a better person not just in the workforce but in life.
So you’re in your twenties, you don’t have the risks that you will later on if life, your network is better than it ever will be and you can take action right now to make sure that when it comes to your professional life, you won’t be that person thinking what if.
Have I made my point?