What difference is there between a young founder and an older one? Results, mostly…plus maybe an edge on physical energy. The great thing about our expanded online marketplace is that business owners under 30 can enter and compete with seasoned pros.
No matter how old you are, you still have a shot at success. Think way back to your childhood. How many kids had their own lemonade stands or walked someone’s dog?
Nowadays, it seems as though entrepreneurs get younger and younger. Millennials such as Mark Zuckerberg have made it cool to be a tech leader at a young age. Many seasoned titans such as Bill Gates and Richard Branson also were successful under the age of 30.
So…how do these young entrepreneurs stack up against the old veterans of their career field? Below are some advantages and differences as to why younger business owners have an edge.
For starters, young entrepreneurs tend to have a lot less responsibility. Family, children, bills, and so much more are still on the horizon.
Sure, they may be in college and have to pay a couple of bills, but this is the time for a young entrepreneur to get a head start in their field by networking and researching the industry. This relative lack of risk can encourage the entrepreneur to take more risks. This could be the very reason why a business is born and starts out successful.
Willingness to Be Naive
Naivety can also be a huge advantage. For young business owners, they have no idea what “normal” is in their field or even what the standards are.
They have no concretized notions of what the dos and don’ts are and what you can and cannot do. They already think outside the box and push limits. That naivete is often what it takes to become a successful entrepreneur under 30.
Entrepreneurs under the age of 30 typically have more time. They have more time to get better and gain more experience.
For example, the late Kobe Bryant started playing basketball at the age of three.
This also means that young entrepreneurs have more time to bounce back if they fail. If an 18-year-old fails their business, then it just means they have more time to get it right. It is a much easier transition than for someone who is in middle age.
Willingness to Learn and Do More
Business owners under 30 also have an unending willingness to do more and learn more. This causes passion to run rampant from within, translating that into major competitiveness that can be nurtured in the right way.
A willingness to learn and grow causes opportunity. Start small and work your way up. It will give you experience, skills, networking, and new relationships.
Related Post: 30 Ideas for Gifts for New Business Owners