Five Attributes that Give Young Entrepreneurs A Competitive Edge
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5 Tips to be a young successful entrepreneurs for sure!
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Five Attributes that Give Young Entrepreneurs A Competitive Edge
- 1. GROOMING FOR SUCCESS: For Young Entrepreneurs
- 2. LEAD-IN Are entrepreneurs made or born?
- 3. Build your product to sell • SUCCESSFUL ENTREPRENEURS Make good use of resources • Be prepared to fail • Monitor progress • Maintain professional contacts
- 4. BUILD YOUR PRODUCT TO SELL • Build product that has value • Pay close attention to your product development
- 5. • Challenges and complaints from young entrepreneurs Lack of capital Lack of contacts Lack of knowledge • Impose your friends or family MAKE GOOD USE OF RESOURCES
- 6. • Develop a system to keep track of pending tasks and goals establish goals give deadlines • Keep an eye on the big picture MONITOR PROGRESS
- 7. • When ‘start-ups’ don’t take off, it is not a failure • There are various ways to reach your goals Think and visualize Strive, fight and stay positive Get backup, use your contacts and talk to people BE PREPARED TO FAIL
- 8. • Failures will make you wiser BE PREPARED TO FAIL “You haven’t failed, you’ve progressed!” -Anonymous
- 9. • Live locally, work globally • Assume the role of mature industry professional MAINTAIN PROFESSIONAL CONTACTS
- 10. BE OPTIMISTIC! It is never too early and never too late!!! “If you were born poor, then it is not your fault. But if you die poor, then it is your fault.” -Bill Gates
- 11. THANK YOU!!!
Editor's Notes
- Generation X ≠ Generation YWhy? Gen Y generate own income in innovative waysGlobal Entrepreneurship Monitor (GEM) 2012 Global Report states that nearly half of the world’s entrepreneurs are between the ages of 25 and 44.GEM 2012 also states that perceptions about business opportunities, capabilities, fear of failure and intent to start a business are key predictors of entrepreneurship.
- Many people have ideas with a lot of potential. But these people lack the necessary skills and knowledge for them to go further. It is important for you to have product that can sell. BUILD PRODUCT THAT HAS VALUE. Here, you have to be innovative and creative. Think outside of the box. If you can come up with interesting and rare ideas that can actually sell, you don’t have to chase for customers, they will come chasing you! Building your product deserve an appropriate amount of your time. Pay close attention to your product development. Be serious about your product for your product to be taken seriously.
- - Imposing on friends and family might be awkward but learning to take advantage of the available resources is going to give you huge advantage.
- Most people get confused with the word ‘failure’. When start-ups don’t take off, it is not a failure.
- Live locally, work globallyRun your businesses in your local neighbourhood, and as you get wiser and confident to deal with clients over the phone or in person, you might want to consider to extend your capabilities and skillsMaintain professional e-mail for responses to clients. This will also give you time for appropriate reply and let you think properly. You will also be dealing with people from all walks of life. Know who are you dealing with and response appropriately. Assume the role of mature industry professionalIf you do, you will also be treated like oneNo one will take you for a foolWhen going professional, age does not matter, unless you make it matter
- Repeat questions posed earlier : Are entrepreneurs made or born? From what the panelists have said, we can conclude that we can always learn new skills and knowledge and create our own potential to become not just any entrepreneur, but a successful one. It is never too early and never too late to start. Be optimistic and stay positive. Even if you fail, don’t give up and keep on going.