By Butz Bartolome
We all live having a sense of purpose. And not until we reach a certain time in our lives will we feel that we are ready to take the challenge that awaits us. We are not merely focused on wanting to create a means to make our families have better lives, but our ultimate goal is to be happy and satisfied with the things that we do.
At a very young age, we may have desired to have a lot of things which we probably could not afford at that time. Seeing how other people are able to have what they want, it may have ignited our innermost desires to become successful one day. Lucky are those who are born to a family that everything seems to be within their reach, that they do not need to have a difficult start in building their own business!
So, what drives a person to start his own business?
Starting your own business may be influenced by various factors:
- Financial need – This is mostly the reason why people start their own business. They want to find ways on how they can elevate their financial status for the security of their family’s future.
- Being their own boss – While the majority of the people may be employed, a certain percentage is more inclined to start their own business mainly because they want to be their own boss instead of having to work for a company or another person. Instead of just doing the same things day in and day out in a 9-5 job, an entrepreneur would rather take different roles in assuring that the business runs smoothly.
- Being Involved with a Family Business – Those who grew up in a family who owns a business are more likely to take part in managing in or in creating their own business.
- Sense of Accomplishment – Having your own business and a successful one at that, makes one feel a sense of fulfillment and accomplishment. We know how difficult it is to build and maintain a business. Having the financial means is not the only factor that can make one succeed in any kind of industry.
The Young Entrepreneurs
University students taking up a business course are expected to come up with their own unique business as part of their school requirements. Most of these students may have realized that these businesses can actually be something profitable that some of them end up making them as a real business as soon as they graduate from college. As seen on several TV programs, these small businesses have been showcased to inspire others that they can start any kind of business as long as they have all the essential factors of what makes a successful business.
The most profitable business that anyone can start anytime is a food business. Food carts have become very popular in the past years. We all love food and it is always part of any kind of gathering or even when going to malls or other places. The easiest and cheapest way to fill our tummies is by buying from a variety of foods from food carts which are almost everywhere. If you would notice, most of these small businesses that you see today are owned by young entrepreneurs. And some of the successful businesses that we have now started out as a small business being run by young entrepreneurs, too.
What are the advantages of building your own business at a young age?
- Young entrepreneurs are more likely to adapt easily to any kind of environment, age, and culture. They don’t limit themselves by sticking to the norms. Since they want to explore so many things and try how it can help them to become successful.
- Young entrepreneurs have more energy and are highly motivated and enthusiastic. They are more creative about how they would want their business to look like. Adding some quirkiness or whimsical factor into their business makes it all unique that drives people to be more curious.
- Starting early and with luck, being able to have a successful business despite several tries can mean having a 6-figure income in a month. With that amount coming into your account each month, wouldn’t you want to improve your products and services to be able to maintain your business status?
- The younger you are, the better you are going to be able to tolerate the risk. Young people do not easily give up. Therefore, they are more encouraged to start all over again until they are able to reach their goal.
- Most young entrepreneurs who truly love what they do end up starting multiple businesses, thus becoming serial entrepreneurs. Moreover, the businesses that they start seem to be better than the last one they have built. It is all because of past experiences that they have that had made them much better entrepreneurs.
Facts About Entrepreneurship
Having your own business may be a very tempting thought. But you must also know that there are a few things that you need to think about.
- The competition is stiff among businesses of the same nature.
- You may not have the appropriate resources that you need for the kind of business that you have in mind.
- Although you may think that starting a business that is in trend is your signal to start your own now, think again. What seems to be okay now may not be the same after a few months or a year.
You may have an idea on how your business should work, but what you know may not be enough. Although some successful entrepreneurs have admitted that they were not able to finish school, still, certain goals require education. Additionally, you can’t merely rely on your employees to do everything without you knowing much about what is going on with your business. Otherwise, you will just be wasting your time and resources.
Start Your Business Today
No matter how old you are, you can start your very own business even with just limited resources. As I have mentioned from my previous articles, I started selling candies and comics to my classmates when I was in Grade school and it was my way of helping my parents as I would earn money for my “baon” and save a little more from riding a bus on my way home, and at the same time, I had fun selling without realizing that it was a start of something big for me.
Starting young, I have adopted a discipline which has helped me become who I am today. I am not a business giant, but my success is mostly in the fulfillment of my dreams of being able to become an instrument to the success of others.
Take inspiration from the successful people of today. Never be afraid to seek help and learn from those whom you think can guide you in starting your own business. You may just become one of the successful entrepreneurs in the future.
For questions and more information, you may email business.mentor@butzbartolome.com or visit his website, www.butzbartolome.com
