I can list many reasons to start a business at any specific time in life, but it’s never too early to start a business while you’re young. My previous blog post gave 10 steps how to start a business young, here I ten great reasons why to launch a start-up business while young.
Simply because you can – There are not many places in the world where you have the opportunity to start a business at a young age or develop a hobby into a million dollar enterprise.
You can afford to take risks – Most likely you are debt free and still living at home with parents or a roommate in a simple apartment, which means you don’t have to worry about massive expenses like a mortgage or second loan. You also have time to prevent your credit score from going the disastrous state and instead focus on building a start-up business from the ground up.
You are at the age of thinking, dreaming, and discovery – The sky’s the limit and information and technology are readily available in places and devices you’re directly connected to such as social networks, smartphones, wireless high speed internet laptops and home desktops.
You have more physical energy than most people – You outpace people in late adulthood and middle age years in regards to physical energy and time flexibility, so take advantage of this fact and move into a plan of action to jump start your ideas or physical activities as a young entrepreneur.
Its a challenge that starts earning money sooner than later – While most of your peers go with the trend to prepare for college or work their first job, you have the opportunity to experiment with your young business and make a substantial income before you even attend college or land your first job.
It shows growth and maturity – Starting a business young shows tremendous growth to your parents and others more experienced in business. You have the opportunity to be recognized as a leader and possibly get exposure in prestigious print, television, and internet media.
It relieves boredom and lack of creativity – Starting a business serves as an outlet to relieve the lows of boredom many young people experience. Running a business keeps you busy, alert, and productive, and can be a fun experience knowing you are your own boss.
You target audience is big and easy to access – You have a network of direct and indirect friends who are your target audience and are more than likely willing to try whatever product or service you want to promote. Familiarity and trust are key when dealing with your target audience, and you already have that with school peers or recent grads in your college.
It increases your social status and popularity – Being called CEO is an exilerating feeling that comes with some form of power. You will command more respect and attention as a young entrepreneur than simply as a member of a high school club.
Its fun – you start a business young because its fun. You’re the boss without all the financial overhead and stressful responsibilities of a large company.
So if you’re motivated, always brainstorming, have great hobbies, and want to start earning money sooner than later, it might be a good idea to start a business while you’re young. Good luck.