Starting young on an entrepreneurial journey: 5 lessons learned
Satyam Mehta, Co-founder, Rural Invest and JunkGuards, derives from his experience of starting up early in life, and shares some precious lessons learnt along the way.
Entrepreneurial skills span a range - from being innovative and risk-loving, to creativity, critical thinking, and the ability to turn ideas into fruitful actions. But in the entrepreneurial journey, I believe all one needs is a vision, and the ability to identify a need-gap and solve for it.
Coming from a personal standpoint, I was always looking for solutions to small problems from a very early age. Years passed, and it was as I hit adolescence that I realised problem-solving can happen at any stage in life. I took my school lessons to practicality and began on my very own entrepreneurial journey with peers who shared the same interest as mine.
Here are 5 lessons I’d like to share if you aspire to embark on an entrepreneurial venture from an early age:
Observe, read, research before taking off
You might have an idea that can kickstart your early entrepreneurial journey. However, to put your plan into a desired action, it is imperative that you gather all the important information about the industry that you’re tapping into, the problems that exist, and how you plan to solve them.
Research till you gather in-depth knowledge of the field, the existing players, competition, and lay extra emphasis on the skills that you may need to acquire before you start.
Reach out to your mentors
Having a mentor who can guide you in the right direction can make your business idea turn into reality. Your mentor could be anyone that you look up to. In my case, I looked towards my brother for mentoring me, and helping me get on the right path. As a young child, I saw him build his own entrepreneurial venture, and that got me thinking about problem-solving and how one idea can change things for the better.
Be open to feedback and suggestions and always try to learn through the journey
Starting at a young age can mean having a massive amount of energy and the zeal to bring about a change. But, it is equally important to ensure that you are on the right path and are privy to all important information and regulations that apply.
Run your ideas past mentors, teachers, entrepreneurs in your circle and take important decisions based on the suggestions you receive.
Keep your confidence level high
It is important to keep the confidence level high. Never stop believing in your idea and work towards it. You have to remind yourself of your goals and keep in mind that your hard work and confidence in your idea are what will help you rise. Make informed decisions, take calculated risks, and soon you will see your own growth and success.
Do not give up at any point
Starting an entrepreneurial journey may seem difficult as you are in the process of learning and implementing them too.
There will be times when you may see your ideas crash, your short-term goal unmet. In times like such, believe in yourself and why you started out in the first place. Do not give up. Slow down if you need to, but do not give up on your idea too soon.
Starting out early has its own challenges, but it also helps you learn so much early on in life. You will realise the power of self-belief, and that there is no right age to start a business, just the right skill set, which makes all the difference.
Edited by Anju Narayanan
(Disclaimer: The views and opinions expressed in this article are those of the author and do not necessarily reflect the views of YourStory.)