How Do Young, Inexperienced, Poor Entrepreneurs Make a Million?
How do young inexperienced entrepreneurs do it?
You’ve heard so many stories of someone taking a concept and building it into a million dollar business. They all seem so uncommonly smart.
So how does a 16-year-old high school drop-out go on to build a $1 million jam company?
With all of your experience, do you think you could compare to a 16-year-old high school drop out? Maybe not jam; but something you are passionate about? If you want to say yes… then why aren’t you doing it?
This article from Forbes How to Make $1 million Before You Graduate outlines three young entrepreneurs.
Advice from Young Entrepreneurs
Reach Out to People: It’s a lot easier than people think. Seek out mentors that have the experience that you do not have. More often than not, if you have a compelling story, experienced entrepreneurs will sit down for coffee. Their experience could help you from making fatal mistakes.
Barter: Young entrepreneurs (or entrepreneurs in general!) usually don’t have a lot of upfront cash to invest. Mr. Furdyk only had a paper route for income, so he ran ads on his website in exchange for web hosting, and designed a website for the landlord in exchange for cheap rent. Figure out what you do best and barter an arrangement for your start up.
Stick with what works: Mr. Doherty was 16 when he dropped out of school to make jam full time. Now the company is worth $1 million. He suggests when you take your business up a notch to ‘stick with what works’. I’d also like to add, get rid of what doesn’t work!
These young entrepreneurs can teach us that you don’t need to be a genius to make a million dollars. You need to have your heart invested, be able to create new ways to solve problems, and learn from others that are successful.
Do you have heart, creativity, and a willingness to learn?
Hi I’m Jaime. Each and every week I bring you the top business advice from the people who know best.Learn More