Six tips for young entrepreneurs

But taking a look inward, searching, speaking to others that have gone through the journey themselves and a lot of nail biting can yield great results.

Here are some tips to help you through that path to entrepreneurial success:

1 What do you really want?

Sometimes it is just easy to do the practical thing – but what about what you really want? Have you ever reflected on that, and not just lightly, but have you given it some serious thought?

Yes, it is easier to just go with the flow, and end up in a job which you dislike. Then again, if you have even a 10% doubt about the job, then you might be in the wrong position.

However, another path, although lined with tough decisions, might be the one that leads you to where you want to be.

It was the CEO of Tumblr David Karp that once remarked, “An entrepreneur is someone who has a vision for something and a want to create.”

To do that you need to open your mind up to different possibilities.

Just remember that your potential is massive, and by confining yourself to something you dislike will only hurt you. But if you want to be an entrepreneur, you must love what you do, simply since it will be a hard road you will be taking and your love for what you like doing will drive you through.

2 Believe, take risks and tackle your fears

Henry Ford once said, “Whether you think you can, or think you can’t, you’re right.”

And this is so true, since when you believe you will find ways to make it happen. However, if you think that you can’t, then you will just find different excuses.

The problem, however, or that thing that lurks in our minds that pulls us back, is fear. Absolutely the unknown is scary; then again, anything that we cannot control is scary. But, that is one characteristic of an entrepreneur: to take risks, and with risks comes that element of the unknown.

Nevertheless, as Jeff Bezos once said, “It helps to know that you wouldn’t regret failure, but you would regret not trying.”

So, deep breath in and start taking that leap forward…

3  Keep at it, by managing and preserving energy efficiently

Starting a business venture might feel like you are between a rock and a hard place, not moving forward, not growing into a success, or just not working out like you want to. But you need to keep at it. Most successful entrepreneurs started small. Just think of all the tech giants, and how many of them started out in a garage.

Still, as you are putting in so much time and effort, do make sure to manage your energy levels throughout the process, and not your time. Because you do not want to burn out during the process. Rather understand what you are able to do, and manage your energy levels according to those.

4 Think big but take small steps

Set down your goals, and here it can be a year goal or even longer. But as you are setting down your overall goals, start creating a worksheet. This worksheet will reveal the small steps you need to take to reach your end goal.

Plus, with your goals in place, you can check what is working and what is not. Then you can make changes. Just remember, even though your goal might seem ideal, the path you will get there might not be as easy as you have planned out on the spreadsheet.

5 Keep focused on your goal

You need to keep your eyes on that magical price – and have a hunger to get there. This drive can’t come if you are complacent or even if you are afraid of taking risks.

It is like the co-founder of iContact Ryan Allis remarked, “Having the end in mind every day ensures you’re working toward it. Set goals and remind yourself of them each day.”

6 Deal with your mistakes and move on

It can be hard to deal with failure, but most of us will deal with different types of failures in our lives at some point. With entrepreneurs, it is virtually a done deal that you will be faced with some or other disappointment. But you need to learn from the mistakes, as this process will lead to innovation and closer to success.