It can be difficult to be a young entrepreneur. There’s a decades-old stigma that declares businesspeople of a certain age don’t have the skills to move a new business forward. Others don’t trust young entrepreneurs to pay back loans or maintain clients.
However, those people are wrong. On average, over 20% of entrepreneurs are between the ages of 20-34. These young businesspeople not only want to make money but also change the world in the process.
Fortunately, there are plenty of resources for young entrepreneurs to get a leg up on their success. Here are 5 of them.
Small Business Administration
Whether at the local, state, or federal level, the Small Business Administration (SBA) should be the main resource for entrepreneurs. It offers several options to assist first-time business people. Among these is the change to obtain an SBA loan to give the entrepreneur a boost.
However, money isn’t the most important thing given by the SBA. That’s in the form of great advice. SBA officers are subject matter experts, so they can offer the right information young entrepreneurs need to hear. Additionally, it’s not a one-time offer. The SBA office is always available for assistance.
You no longer need to pay large sums of money to hear other entrepreneurs speak of their successes. You can listen to them through the numerous podcasts out there. Furthermore, you’re able to hear them interview other successful businesspeople.
Do a Google search on entrepreneur podcasts and you’ll find dozens. Among the most popular is NPR’s How I Built That, The Tim Ferriss Show, and The School of Greatness. Each has a different take on business and the best ways to make one a success.
Not every coaching program is thousands of dollars. That’s because successful business owners know where young entrepreneurs are coming from. Face it, they were in their shoes not that long ago.
That’s why business coaching programs should be considered if the price is right. Sites like I Heart My Life offer packages that are $50 or under. Several individual classes are less than $10. Sometimes, these self-taught programs come in the form of free and live coaching.
While you might have a young entrepreneur’s spirit what you want to do with it is unknown. The ideas you have either been done or don’t interest you. This situation can be resolved by searching the internet for business idea sites.
Locations like SpringWise and Entrepreneur.com list plenty of ideas by entrepreneurs. Though some might seem like they’re overdone, getting more details might spawn a new thought. One that takes the idea in another direction that excites you.
Skill & International Business Sites
If you are a young entrepreneur in another country and want to start a business either in your home region or abroad, there are many resources out there to help you in your next steps. Firstly, you will need to learn everything you can about ownership laws in the country you want to start your business in. For this, consider government sites and business advice sites specific to that area, or sites for expat business owners.
There are many industries that have different standards depending on the country you are located in. Familiarize yourself with the regulations and laws of your specific industry online before you make plans to launch an international company. Finding a business partner in your target country may also help you set up your international business.
Because of the different regulations across industries, you will also need to make sure you have the skills needed to run an efficient business abroad. Look for the best English speaking course in Delhi, or wherever you are, to sharpen your English business jargon and make sure you’re filing all of your business forms properly.
Business Plan Sites
The right ideas are great. However, they might not go anywhere unless you have a plan in place to move forward. Luckily, you don’t have to create one from scratch.
There are free business plan templates available from organizations like BPlan and LivePlan. They might not be as detailed as the ones you pay for. Nevertheless, they can help you set up a basic concept that gets you started. As your company grows and reaches its first bursting point you can look into a larger template that helps you expand.
If you want to find a more involved business plan assistant, look for sites that offer financial advice as well. There are many aspects to starting a business, not just having a perfect idea. If you are unable to manage your business well enough, it doesn’t matter how good the idea is, it will never become successful without a strategy.
This quintet of resources is a small percentage of what’s available for young entrepreneurs. The internet is filled with a plethora of data related to starting a new business. Yes, some of it costs money. However, most items are free for consumption.
As with anything on the internet, take the advice with a pinch of caution. Advice that seems too good to be true is probably just that. Consider the information that’s verifiable by other resources. Look for software development companies that can support your business structure as well. These companies provide tools to make it super easy for you to manage a growing start-up, and they can help you stay protected digitally and financially.
Overall, don’t overdose on this data. Gather what’s most important for you to start a business and apply it where necessary. Should things not work the way you want, then do a further search to find methods to correct the problems.
The most important thing to do as a young entrepreneur is not to give up. You might have more valleys than peaks at the start. Find ways to persevere and you’ll be one of those entrepreneurs who advise others.