Research by targetevolution.org shows that 72% of Generation Z wants to start their own business. There is a hidden secret behind starting a business at a younger age.
So let’s try to look at some of these secrets:
- Investors and the market trust young people more than “older” people. When a young person, that is below 30 years, pitches to an investor, there are higher chances of the pitch being accepted and funded. This is because young people tend to have a better understanding of the use of the internet to do business and future of business hugely depend on the internet. Also, youths have BIG dreams, plans and strategies of working on and scaling their businesses. It is believed that “youths are the leaders of tomorrow” and this fuels the investors’ mind to invest in “leaders of tomorrow”.
But it is easier for youths to lose trust with the market and investors. So, as you think of this, make sure you are dedicating your time and having passion in what you are doing. Because the market only wants products and services that are better than the previous ones or entirely a new product or service that serves to improve their lives. Efficient, low cost and effective product or service are the only ways to penetrate a market.
- Youths are more energetic and possess a fresher brain. Youths are stronger and have more active brains compared to older people. Most youths involve themselves in energy-demanding activities such as cycling, having long walks, playing football/netball/volleyball, and going to gyms. These activities help to increase blood circulation in the body which helps to increase the neural connections in the brain, leading to the more active brain.
The more active brains of the youths help them to be moreinnovative, creative, diverse, qualified and influential.
- As a youth, you have time to make mistakes and work on those mistakes, as you create your path to success. Success is never a single step! It has both ups and downs. Starting at a younger age gives you enough time to gain experience of whichever field you are operating at. And never fear to make mistakes or rather taking risks, it is only through this that you can measure your growth and create your own story.
- Starting a business at your youth help to save your time. By the time you reach the late forties, you don’t have unnecessary stress such as planning for your future family, and education. By this time, you have some incentives to plan with.
Unsuccessful people make decisions based on the current situations, successful people make decisions based on where they want to be.
- Youths face lots of problems, it is a chance for them to solve them themselves. As a youth, you are at a better position of understanding the needs of the youth and coming up with a better solution to the problems “we” face. For example, bringing LeBron James (basketball player) to play for Arsenal FC (football team) as a striker is not logical. “Cut your coat according to your size”. In other words, you can only solve a problem that you have ever experienced.
Remember, a good business solves a problem that a community faces, it is not about making money instead, it is about changing lives for better.
So as a youth, never hesitate to turn your business idea into reality. Never wait, start working on it right now! An idea is useless, it only becomes useful when you turn it into reality. Imagine if Steve Jobs could stay with his idea and never execute it.
