One of the greatest aspects of entrepreneurship is that it’s a lifestyle truly open to all. There are no limitations to the number or type of individuals who can choose entrepreneurship at any given age and succeed — it’s essentially limitless. In a way of life where the only limiting factor is you, people of all backgrounds at all the ages have joined the leagues of incredible entrepreneurs.
More and more, youth are turning to entrepreneurship as their career, starting businesses while in college or just shortly after. The reasons for wanting to plunge into entrepreneurship may be motivated by financial need, the desire to be your own boss, involvement in the family business, or the drive for a sense of accomplishment.
Here are a few advantages that young entrepreneurs can have through their entrepreneurial journey:
Most young entrepreneurs who truly love what they do end up starting multiple businesses, thus becoming serial entrepreneurs. Moreover, the new businesses they start are better run than the last one they built because experience has made them better entrepreneurs. Therefore you are in charge of how your own life story!
To family, to children, to bills, to whatever. Free of these obligations. You are more flexible, free and focused. This lack of responsibility can be the difference between an entrepreneur willing to take the risk, and one that is not. It can be the sole reason that a business is born, or the sole reason why a dream is bottled up and put on the shelf.
This can be a huge advantage. You don’t know what normal, best practices or standards even mean. You have no preconceived notion of what you need to do or can’t do. You already think outside of the box, push boundaries and live freely, and that’s what it takes to be an entrepreneur who changed the world. After All great entrepreneurs never came out of following rules.
The larger the risk the larger the potential return is the thing we have been hearing over and over again from the successful entrepreneurs. However with young age and the ever passionate stage of our lives, our willingness to take potential and calculated risk is at an all time high! Therefore the ambition of achieving something great always rules above everything.
As a younger person starting a business, we have more time to get better and gain more experience. Additionally, more time can mean more time to bounce back from failure. If a 19 year old fails in building her business, she has more years to try vs. a 40- or 50-year-old entrepreneur.
Young, successful entrepreneurs have an unending willingness to do, be and learn more. This willingness can translate to a major competitive advantage if harnessed and nurtured the right way.
Let’s see some really wonderstrucking entrepreneurs who started at a really young age!
Ritesh Agarwal has had an interesting childhood. The idea of Oravel Stays struck him when he was 18. The basic idea was a budget hotel chain that provides B&B. Realizing that no other service offered a room for a budget traveller, Ritesh took the idea from Oravel stays to OYO rooms and voila! Agarwal started OYO with 11 only rooms in a Gurgaon hotel. This is one of the best successful entrepreneurs stories in India. Today, OYO has 65000 rooms in about 5500 properties across 170 cities in India.
Ritesh started his entrepreneurial journey when he was 17 years old. Oravel was designed as a platform to enable listing and booking of budget accommodation. Being an avid traveler, he soon realized that the budget hospitality sector lacked predictability. Therefore, he pivoted Oravel to OYO Rooms in 2013 with the key proposition of offering affordable and standardized accommodations.
Ritesh Agarwal has benefited the society in more than one way. He has also managed to achieve what most of the people only think of. Below listed are some of the accomplishments of this teenager.
Shravan and Sanjay, siblings aged 17 and 15 respectively are the youngest upcoming entrepreneurs of India. Together, they are the brain behind GoDimensions. The aim of the company is to develop a simple technological solution for the digital world. They are the youngest Mobile Application Developers in India. These two develop applications for both Android as well as IOS platforms. Recently they created their latest app Go Donate, which facilitates the donation of food to local charities that would otherwise go to waste.
Their mission is to have their apps installed on at least half of the world’s digital phones. The dynamic duo has already developed 11 apps which have about 60,000 downloads across 60 countries! In 2017, they were listed in Forbes 30 Under 30.This dynamic duo explains the true spirit of entrepreneurship because they’re driven by the desire to give back to the society.
Hence, you don’t have to be Elon Musk or Mark Cuban to still lead an incredibly rewarding entrepreneurial life. While the obstacles and challenges ahead of you are real, there are many who have gone before and discovered their dreams. These are the brave ones. The emerging stars. The real entrepreneurs putting it all on the line, over and over, day in and day out.