Being a Young Entrepreneur: Pros and Cons
In the present economic downturn it is becoming ever so important to have a good source of income.
Being a young person today is a rather challenging experience. It requires quick and adequate change into trends and ideas that can generate success and well-being.
It has not been that common for young people to think about entrepreneurship some decades ago because options were too limited. Usually the world of business was ruled by financial moguls and it was really hard to get a piece of the success cake in your late 20s.
Today, however, with the availability of all sorts of communication media, technologies and resources, it has become very common to hear about young entrepreneurs scoring successful results in the business field.
As applies to everything today, being an entrepreneur is a risk that requires courage and ability to foresee developments and plan ahead actions.
It is not an easy undertaking but many young people decide to plunge themselves into the unknown and try to make their living out of developing their own business venture.
Being a young entrepreneur has its advantages and disadvantages. The pros and cons of being an entrepreneur at an early stage of a person’s life can prove to be highly rewarding and could provide numerous opportunities for personal development and success.
Some pros concerning being a young entrepreneur could involve some or all of the following:
- You will have the opportunity to do something you really like because young entrepreneurs normally transform into business some of their most ardent passions that used to be only a habit;
- You will be able to provide a new and fruitful addition to an idea that can lead to the improvement and/ or development of many individuals;
- You will the ability to be flexible and plan your work accordingly, although, being a young entrepreneur usually means planning everything else around your business dealings, at least for the first couple of years;
- Last, but not least, there is the potential of being your own boss and earning money from what you can do best and have fun.
On the other hand, the cons of being a young entrepreneur may involve some or all of the following examples:
- You will have to make a lot of sacrifices. Most probably both personal and financial, which is quite typical for every business start-up;
- You may need to work longer hours since you have invested all your time and effort in making your business work the way you want it to;
- Being a young entrepreneur may take away your freedom to be irresponsible at times, typical of young age. You will have to take full responsibility of your work, and possibly of the people working for you;
- You may have to deal on your own with a lot of tiring and boring paper work;
- No success comes without hard work; therefore, you will have to set your mind to the understanding that this will be the hardest job in your lifetime. Failing at it would result in things more serious than being unemployed and an in-between-jobs kind of guy.
Therefore, it is highly advisable to be careful and responsible for your own self because this will teach you to be responsible for your business and the people around you – an experience that will prove most helpful later in life.