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  ·  6 years ago (edited)

For A young entrepreneur currently in the midst of building a business, preparing for their post entrepreneur days:

Possibly an unpopular opinion, but, I would say forget about investing in anything else for now. If you believe in yourself and your talent, your money is nowhere better invested than in yourself and your currently project. The return you will see in your own business is a thousand times greater than the return your may see in even the most volatile of investments.

You are young, presumably without any dependables? This is one of the few chances you have to go all in on something with little consequences.

Bonus points:

i) Document the journey, your wins and failures. This is proving invaluable to us in learning from our mistakes and identifying our strengths. Even something simple like this as we are doing on IGTV / LinkedIn works.

ii) Keep connected. The likelihood of this being your only business is slim, the likelihood of you making connections in this business that can help you in future businesses is significant.

iii) Protect your longevity & do it by the book. It is tempting to cut corners or use black hat tactics to gain an edge, especially in competitive markets. These tactics can lead to a quick buck but rarely work in the long run.

For A young aspiring entrepreneur looking to prepare to start their first business:

Get started right now, every day spent working on your business, addressing failures and noticing wins is a lesson learned and a day closer to your goal. There is no education like experience and it will likely be a slow start to your first business.

Bonus points to stick to on the way;

i) Make connections, as per above. Your network is your networth.

ii) Become a verocious learner Listen to Podcasts and/or read books, but, ensure the author/podcast guest resonates with you, your mission or there is something pertinent to your mission to be learnt.