Successful Young entrepreneurs: if they can, so can I?
How often have we heard about a successful young person: “Under 30 years old makes your first million”. Someone who has started a successful app. Nowadays, quite common to find a content creator. It can be in education, music, crypto coins, the health system, an athlete, the food industry, or any sector. Trust me; in any industry, even e-players are found to be successful young people. It is just open the Forbes 30 Under, and you will find a bunch of young and full of energy faces. What are these people doing so well to achieve such good results early? Is it all about meritocracy and hard work from this prodigious young selective group? Are there supporters working together to make these achievements solid and real? Focusing on the business group, I will go over the challenges this group faces and find the motivation for their first steps in building companies.
The present young age group has distinct aspirations and fears compared to the early generations, such as baby boomers. Baby boomers had different expectations. They believed in a prosperous future and relied successfully on the retirement plan where they could stop working at the age of 65 (Barnier, B. 2021). While Baby Boomers were seeing a bright future post IIWW, the present young generation, Gen Z, is exposed to much violence through the media and suffers from anxiety due to climate change (Medical News Today, 2022). If Gen Z cannot believe in the long-term retirement system provided in their own country, they might start to be open-minded to alternative ideas. From this point of view, creating a business for yourself that grows depending on your effort is a tempting idea. Rana Gujral listed three base components to success as a young entrepreneur after talking with a 21-years-old book writer and creator of one company. They were curiosity, commitment, and confidence.
Parents do not always proportionate the stimulation of curiosity to the children, and unfortunately obvious, more significant lack of girls. Although, the child who gets to learn how to explore curiosity finds excitement in questions. When given the time and space to reflect on a question and find out answers to your thought process, we see the power of curiosity stamina. It is similar to facilitating a Paja in Proakatemia. You often know the answer, and you could immediately say the quick fix. Although humans lose their curiosity once the fix is given, it is more enjoyable while there is an open issue to be solved. As a facilitator, our job ends up asking the right questions that help the audience reflect on the correct point of view and learn by themselves through dialog and self-thoughts. We train our curiosity through dialogue, which is why pajas are an essential part of the Proakatemia degree.
Commitment is so straightforward that it is even hard to prove how much this skill is fundamental for a young or any other entrepreneur. Basically, without commitment, it is not possible to achieve anything. Commitment walks together with consistency. While we receive multiple “no”s from clients to investors in the business world, it is essential to have your mind settled. You need to be committed not to your business but to the problem you want to solve with your business. There will be nuances, challenging days, and even testing days for your business career choice. If one is committed to solving a problem, there will not be a closed door that will stop it.
The last but not most minor item is confidence. It is probably the hardest to achieve while still being a young diamond in the rough. You can be essentially curious and committed, but confidence typically requires experience. A tip to obtain experience is to join volunteer groups – scouts, exchange students, refugees, church, you name it. There are many branches of volunteer work with space for youth to develop their leadership skills and confidence. Confidence is necessary because it allows you to take feedback, communicate effectively and create a good work environment around you. The trick part around confidence involves behavior, emotions, body, and thoughts (Symonds, Dr. V. 2022). Exercise these elements together through various events is how to learn how to be confident.
After gathering these key points to perform a successful young entrepreneur, it looks even easy to turn to be the next Forbes 30 Under face. There are still many questions to be answered about what is the role this group plays in the market. Also, what is the consistency of their businesses once they are created? I wanted, on purpose, to raise these questions to instigate the readers’ curiosity to wonder more about the subject. Remember that none of the elements earlier listed are 100% true all the time. If you are confident, it does not mean you will never fear. If you are going through breaking down, it does not mean you are not confident. If you lack curiosity, you might be fulfilling all your schedule without leaving free space for your mind to think, which is sometimes okay. The youth as an entrepreneur reflects courage and multiple issues needing answers. As much the government and academic institutions can support this curious, committed, and confident group, the most we will see successful young faces, maybe even yours?
BRIAN BARNIER, Investopedia. 2021. Baby Boomer. [Article].Updated on 18.01.2021. Read on 28.03.2022. https://www.investopedia.com/terms/b/baby_boomer.asp
Medical News Today. 2021. Is Gen Z More depressed?. [Article].Updated on 24.03.2022. Read on 28.03.2022. https://www.medicalnewstoday.com/articles/why-is-gen-z-depressed
Graham, P., Helen, J. 2011. STIMULATING CURIOSITY TO ENHANCE LEARNING. University of Sheffield Medical School. Universidad de los Hemisferios (2) 24.
Valeria S.Updated, 2022. Why Is Confidence Important in Business and in the Workplace? [Article]. Updated on 12.02.2022. Read on 28.03.3022. https://symondsresearch.com/confidence-important-business/