Business Advice for Young Entrepreneurs
Having been in the business world, and a part of the same business my entire adult life, I know quite a lot about being apart of a large company, and growing it from a seed to a major industry company. Starting a business is great; it’s what keeps the business world exciting and on its toes; innovation is what pushes this world ahead, however just an idea alone won’t propel you into success.
Here is my personal advice to young entrepreneurs, coming from a place of experience and understanding. This is the advice I would have bestowed onto my younger self during my earliest years of developing AVL. May it benefit you well!
- Passion. You need it, and your business will be fueled by it. This will keep you motivated in the long run, and inspire others to be customers who want what you’re selling.
- Accept failure as part of the game; it’s going to happen, and it will give you firsthand knowledge about your business. You know the old cliche about learning from your mistakes? It’s is absolutely true.
- Honesty, whether you’re in a service industry such as the moving industry, are a healthcare provider, a teacher, or a tech guy; honesty is what builds validity of character and gives you credibility.
- Define and understand your market. Especially when starting out, it is immensely important to know who your customers are, what they’re looking for, and intuitively know what they’re going to want a few months, a year down the road.
- Don’t worry about the same idea being done before; competition is always going to exist in business. Focus more on how you can make it better, whatever industry you’re in. Define why yours is different, offers more, is better.
- Find mentors. You can try to go it alone, but having the advice of those who’ve walked a similar path to success can give you the guidance you need for growing your business in the right way. Networking is absolutely necessary in today’s business world.
- Hard work. This is the one factor all of the others come down to, and there is no escaping it. Do the hard work, put in the hours, stay committed, keep growing; this is what drives a business and your vision to completion.