Young Entrepreneur Stereotypes

Young Entrepreneur Stereotypes

Wikipedia defines stereotyping as a certain belief that is attached to a particular thing or a certain group of people which may be partially true or totally false. We might find some of these stereotypes which are mentioned in this article that are mostly common with our young business owners. For example, age stereotyping is whereby a person is discriminated upon based on their age. We all can agree that a young entrepreneur is not easily taken as seriously as an older person since it is believed with age comes experience. There is always that perception that most buyers would go for a company or a business that has been around for a number of years as compared to a startup. Where does that leave our young and upcoming entrepreneurs?

Then there are those who perceive that young entrepreneurs have no idea what they are doing and this might come from our peers and people close to us. Well there are positive criticisms and these will help you repair the loop holes of your business activities for example how you deal with customer service, the quality of products and services offered and many more. However, there are negative feedbacks especially if you are a YOUNG entrepreneur. Beware of critics as you begin the long and time consuming journey of starting and developing your business.  You might hear people criticize your ideas, your problem solving skills and your business evaluations thus discouraging you from pursuing further more so if you were pursuing a partnership or trying to raise more capital. Older people might begin to judge you as a lazy or irresponsible individual, they may even refuse to give you a chance to earn their trust. Your social circle might not get the reason as to why you chose to start a business and hence do not be surprised if they do not share your passion or support your ideas especially at the initial stages of your business. Did you know that other entrepreneurs doubt your ability to persist with your business over time? Remember that no matter what confidently recognize your ambitions, your abilities and always hold yourself accountable for your own success. These feelings of social rejection will soon disappear as your business grows slowly and gradually.

Young entrepreneurs are often characterized by impatience, you know, get rich quick schemes. Most find it difficult to understand that a significant amount of time is required to establish a business from the ground up. And a lot of learning is also required along the way. For example, you might need a minimum of three to five years for the business to lay a good foundation so that it can be sustainable. It is understandable to want your business to make profits almost immediately, but that is not always the case which some young business owners find really frustrating. Please let the business grow at a natural pace, I believe with time you shall enjoy the fruits of your labor.

As a young generation, are we willing to obtain information or learn from the more experienced? Do we have mentors that we could gain valuable insight from? Most of young business owners are not willing to be taught, to be coached or even allowing their minds to think differently or accepting advice. This has resulted to blocking out very useful information which could be valuable and lead to more success for the business. We could change this by attending more seminars and finding the right mentor who will introduce you to new ways of solving problems, ways of getting more opportunities and also learning from them. Please note, you should differentiate between critics whose intent might be to discourage your small startup with, from mentors who push you to reach the level best and their aim is to help you grow.

It requires lots of sacrifice having to put in extra hours and more resources and more research in order for your business to thrive. While it is good to be self-confident and goal driven, it is also best to acquire as much knowledge from the experience of those that were before us in the business. We can learn from their successes and failures. Find a circle of people that you trust and can help, who you can brainstorm with when there is a problem. It is okay to admit if a failure or mistake occurs and allow yourself to learn from them. Always have constructive critiques who will give you the right feedback for the kind of products and services you are offering. At times your customers are the best critiques. If there are continuous complaints please address them for there is a possibility your customers are right. Old ways of doing business not working? Be willing to adopt new methods. It’s worth it.

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