Tuesday 20 August 2013

Why you should start a business before you are 25 years old


There is nothing better than making it big when you are young. Unfortunately as things stand entrepreneurship or talent utilization-think of Wanyama,are the easiest avenue for youths to make it big.Employment is good but the bitter truth is that it is very hard to become a young millionaire when working for someone unless you do some shoddy deals. There is never an appropriate period or time to start a business,but to me starting a business before you are 25 years old is very exciting. 
Here are some of reasons as to why you should start

 1. You have little to lose

The best thing about starting a business at this age is that you have little to lose,rather you have so much to gain. By basically starting a business you will be able to practically apply things you learnt in college. That is things like preparing a realistic business plan,a balance sheet,customer relationship among other things.Furthermore if your business fails you will have learnt some valuable lessons i.e mistakes to avoid in any future business pursuit.

2.  There are many mentors who are willing to help

The beauty about starting at this age is the availability and willingness of experienced people to help. When you are hardworking and passionate about your business,it will be hard for the successful entrepreneurs to shy away from helping you.Furthermore nobody hates being associated with the Next Big Thing.  As they say success has a thousand fathers but failure has none. These mentors will guide you from making the 1st step to accomplishing your goals and visions.

3. You can take risks

At this age your family probably supports you to some extend,this means that you can take more risks without having to worry about your  food,rent among others.If a young person starts a business, it's not because they need to money to feed their family,pay school pays because your family caters for that. This means that you have more freedom to take any business risk that may arise in the course of the business without worrying about bills.

4. Explore your creativity


It is hard for old people to come up with new ways of doing things but for teens innovation is part of their day to day activity.Adults have often learned and heard of many different ideas and they find it harder to solve problems in a creative and innovative way. The old people have a clue about what will fail or succeed because they have seen businesses fail and succeed. For under 25 they are willing to try out something new to see if it will work out .



Here are are tips to help you on starting your business

  •  Do thorough research on your business idea
It is very important that before going to investors the young entrepreneurs should ensure they know everything about  their business i.e the product or service,the industry etc.You need to have thought of every possible question that may be ask and a good answer in that matter.

  •  Determine exactly who your customers are with great specificity 
You should pinpoint your targeted client so that you focus your marketing efforts to ensure you reach them. This means you will be able to ask for the right referrals and you know who and what to search for

  • Surround yourself with people who are good at what they do 
The success of a business depends largely on the abilities and professionalism of the team as a whole. It is important to remember you are only as good as the people you work with. This means if you create a weak team, you will have a weak product, but if you have a great team you will have unlimited potential.
 
  •  Align your business to your interest
Don't just start a business because so and so is doing it or because your friend told you there is good profit margin rather start a business in a field that you are passionate about. Find out what you love doing then research on a business that you can start on that field.

"Don’t worry about what the world needs.  Ask what makes you come alive and do that, because what the world needs is people who have come alive.” ~Howard Thurman 

Make sure you don't miss my next interview with 23 years old; Nelson Kirimi, the Founder of the Next Big thing in the fashion industry- SwagRepublic


Sunday 11 August 2013

Aspiring to be a young entrepreneur? Here are thing you should know

    

In the current world,education alone does not guarantee survival rather it is a world for the smart and innovative individuals. Being smart and innovative means that one is able to notice a gap and come up with a unique product or service to fill the gap. In our country unemployment is like cancer ,where the supply of human labor is higher than the demand. The solution lies from within that is encouraging the youths to change from employment mindset to entrepreneurship mindset.

Being a young entrepreneur I will share with you few things that have kept me going and that have made my entrepreneurship journey exciting.

1. Follow your passion  
The greatest mistake people make is doing something they are not passionate about just because of money. These are people who will always have excuses about their failures and why they are not performing to their potential. If you want to start a business,start something that you love. Last Friday I happened to attend the Launch of the monthly Passion Profit Network by Frida Owinga. This was an eye opening session that made me realise the benefits of pursuing opportunities from my passions.  

2.  Networking
Connections...connections...connections,networking is a life skill, not just something you do when you want something. You should invest time and resources to make friends with people in different  cultures, ages,occupations, social statues etc. Ensure you have a business card and a business card holder. Every time you have an idea check out the contacts you have,that can help turn your idea to reality. Make sure you attend Networking events and if possible avoid the free ones, because there is high probability that most of the attendees will not be serious professionals.Social networking platforms, like LinkedIn,twitter among others provide a great way to stay in touch with old friends and make new ones.Here is more information on  Networking process .

3. Technology
Successful entrepreneurs that is those who have a clear concept of what they are trying to accomplish leverage technology in order to help them achieve their goals more quickly. All  aspiring entrepreneurs must be incredibly tech-savvy,it doesnt necessary mean that they know how to code but must understand the language and the trends of technology. Starting or investing in technology related startups or companies is among the hottest areas at the moment. Social media has provided an easier way for entrepreneurs to interact with other entrepreneurs and customers. Aspiring entrepreneurs should ensure that they have a strong social media presence

4. Mentorship




Every entrepreneur should have a mentor that is someone who's been down that road before and can share their wisdom on an ongoing basis. Mentors can provide tailored guidance, general best practises, and an example of a successful business that the protege can learn from. The report by the Danish Embassy, Nairobi and Inoorero University noted that mentorship programmes would impact positively on new business ventures if entrepreneurs are given proper guidelines on how to invest and manage their resources. You can join the Professional Business Mentors Association of Kenya to be able to connect with professional mentors. Personally i have started an initiative to mentor and empower young upcoming studentpreneurs, Check out more info about Young Students Empowerment and support this noble initiative.

5.Taking Risks
We as a society are very risk averse; and that holds back the entrepreneurial potential to unfold itself fully. The bitter truth is that most successful entrepreneurs have sacrificed one thing or other that is dear to them in order to be successful. Most entrepreneurs aren't more risk ophilic than anyone else — they just define risk differently.

is is the bitter truth
This is the bitter truth, every successful people take risks. Every successful people have to sacrifice one thing or the other that is most dear to them at one point or the - See more at: http://www.writersincharge.com/tips-aspiring-entrepreneurs/#sthash.USI3o5tn.dpuf
This is the bitter truth, every successful people take risks. Every successful people have to sacrifice one thing or the other that is most dear to them at one point or the - See more at: http://www.writersincharge.com/tips-aspiring-entrepreneurs/#sthash.USI3o5tn.dpuf