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Good day subscribers i am jeremy and this is the financial education channel in here today i’m going to talk a little bit about being a young business owner and some tips for young entrepreneurs that i’ve learned over time i’m going to talk a little bit about pros and cons of being a young entrepreneur so let’s go ahead and talk about this i am a young entrepreneur
And when i say a young entrepreneur i mean someone from the age group of about 18 to 29 so that age group is kind of the one on specifically talking about in this video if you’re in your 30s and 40s i wouldn’t really consider you a young entrepreneur i would think of people in the 30s 40s maybe in 50s as the people you would think of when you think of a business
Owner and then below 18 yeah i know some of you guys even start businesses and that’s great but this video is not quite as tailored toward you this is more for the 1829 group so pros and cons of being a entrepreneur i’ll tell you a prorated off the bat being young you’re going to know a lot about technology your are going to be up to date on the latest things in the
Technological world whereas older people generally speaking generally speaking aren’t going to be as up to date on that kind of stuff so when you go to start your business you’re going to be able to use a lot of technology related things in ways the older business owners that are more maybe more established don’t even have a clue about they don’t know how it works
They don’t know what they do so you’ll be able to come in and kind of take some market share or take some things away because you know how to use a lot of new technology things that are related to your business there are so many different things in my business photography obviously everybody knows how to take good stills with a dslr camera right very few people
Know how to fly high-end adjourn very few people know how to take pictures with a high end drone do videos all that kind of stuff so someone like me that understands how to do that it’s a huge advantage for you and in every single business group you can go across there’s tons of new technologies out there that if you not adapt it you can get a leg up on all your
Competitors and all those older established people that aren’t going to be up to date on that until the years from now they probably will do what you’re doing for years from now and by that time you already be on to the next thing and then at that point when you become the older person it’s just your job not to let the new guy come in and do the technology things
That you don’t know how to do because you’re still so old school at that time so it’s about keeping up-to-date at that point so that’s a huge advantage you have as a young entrepreneur coming in their account let’s talk about a con experience now experience is a great thing that’s something a young entrepreneurs probably not going to have much of the older more
Established business owners they’ve seen so much stuff they seen this happen this happened they know how to deal with them they know okay if this goes wrong i need to do this to fix the problem they know how to treat customers they know what their market segments are they know how to talk to customers they know how to get potential customers interested all those
Kinds of things because they have experience so that’s a kana being our young entrepreneur a lot of that stuff you just have to do trial and error and figure out okay this didn’t work i need to do it this way i got to do that a ton of times myself where i’ll try something out and it doesn’t work i’m not getting results i’m not getting people interested and then
We go this route and i’m like okay now people are starting to figure it out now people are really interested it’s trial and error when you’re a young entrepreneur whereas the experienced ones they know what works and what doesn’t they don’t really need to try a bunch of different things anymore now being on your young entrepreneur it’s a beautiful thing because
You’re your own boss and you can control your own future and being a young entrepreneur a lot of times you don’t have a lot of the things going on in your life that can maybe take your attention away a lot of young people are single or they’re just kind of start out so they don’t have a lot of distractions as far as like family having you know a spouse having kids
Having all those kinds of things that are very time consuming because those are extremely those are the most important things are life once you have those once you have a spouse once you have kids though so that’s your most important thing your business is second at that point when you’re your entrepreneur your business can be number one your business can be number
One because you have no spouse you have no kids at that point so that can just get all your attention so that’s a huge advantage to being a young entrepreneur also and this is a pro in a calm you don’t have as many things stressing you out when you’re that young so sometimes you can deal with stressful situations better which is going to happen problems are going
To come up your they’re going to need fixing because you don’t have a lot of stress in your outside world you may be able to handle it better but also you may not be able to handle it better because experience you might have not experienced these things before so they stress you out so much because you’re trying to problem-solve you like oh man this customer they’re
Going to leave me if i can’t figure this out and you’re just stressed in distress them so it’s a pro in a con it can work both ways in that instance um being a young entrepreneur is awesome thing because you know a lot of your peers and whatnot or probably just starting their careers it companies and whatnot or they just finish in college and try to figure out we
Didn’t do the lights and you’re already got the ball rolling you’re already started your business and you’re already being successful at that so you have the opportunity to expand later on in the coming years and whatnot and you’re already your own boss that’s a wonderful wonderful thing what else do i want to talk about one being a young entrepreneur um being
On young entrepreneur you need to be prepared for a lot of rejection a lot of rejections been come your way whatever you’re trying to sell whether it’s a product or service and i’ve talked about this actually in a video i did that was called how to how to deal with rejection a lot of rejection is going to come your way you’re going to try to sell a service a
Product what we were trying to do for your business and more than likely most of the people are going to say no they’re going to not be interested and you’ve got to learn how to not take that personally you got to learn how to not get down about it you got to learn to be exact sighted on the next customer or potential customer as the previous one so you can’t you
Can’t get bothered by that you can’t say all shucks it’s not going to happen no you’ve got to keep grinding you have to keep going at it you got to be prepared for that rejection because if you’re prepared then you’re going to easily be able to deal with it and that’s something a lot of older business owners are successful at because they’ve already dealt with so
Much of that especially when they were starting they dealt with so much rejection that for them to talk to a new customer even if the customers not interested it’s nothing for them because it’s like oh just another one that wasn’t you know that didn’t like my product or service it’s fine i’ve got all these customers already so dealing with rejection is something
You really have to learn to deal with as a young entrepreneur um where else do i want to go with this video as far as being on a young entrepreneur i don’t know do you guys have any questions leave them in the comment section if you’re interested in getting young entrepreneur you need any tips anything you want me to talk about in future videos i can always do a
Follow-up to this about being a young entrepreneur and some of those kinds of things if you’re looking for more like how to start a business those kinds of things i’ve already done a video that’s called how to start a business so just look that one up and that’s going to give you more information about getting your business license and all those kinds of things
Um this video is just trying to tell young entrepreneurs the truth about things some people i know there’s another thing some people are going to look at you and think you’re not qualified especially if you show it if you show it and you present yourself in a way that might look like you’re unexperienced or unqualified then it’s going to give them that much more
Power to say i know that’s not the right one to deal with you know let me get someone that’s more experienced on this problem or you know doing the service for me so you’ve got to really be on your a-game you’ve got to be very confident when you’re out there you go to be very confident you can’t ever sweat you can’t you know be nervous type thing no you got to be
On your a game every single day with every single customer because you you’re gonna have a stereotype as not having much experience not being able to deal with these things and if you show that if you show that even for a second that’s going to reinforce the stereotype that that person already might have been thinking about you so make sure you’re very confident
In whatever you’re doing whatever product or service you’re trying to sell to be very confident it be very confident in the field otherwise it’s not going to work out anyways thank you so much for watching as always guys if you liked this video hit that thumbs up button if you liked this channel i talked a ton about personal finance i talked a lot about business
Ownership like a video like today being a young entrepreneur i talked some about the stock market so if you like those kinds of subjects go ahead and subscribe i got a lot of videos coming in the future anyways thank you so much guys and have a great day
Transcribed from video
Tips for young entrepreneurs! Being a young entrepreneur! Pros vs Cons! By Financial Education