young entrepreneurs

5 Ways to become a young successful entrepreneur

Here are tips young entrepreneurs can implement in the successful running of their business to make it successful and make things easier.

A young entrepreneur is a young adult who starts and operates a new business or identifies new market ideas or opportunities irrespective of the risks involved. The ultimate career for most young adults is being their boss. Therefore, many of them launch their businesses rather than working for someone.

It is not enough to launch a business; there are some tips and strategies that you must put in place for its successful running. As a young entrepreneur, you should also learn from people who successfully handle their businesses. It validates the need for a mentor.
There would be some obstacles on the way, but this should not put you off. And it can as well be challenging to filter the needed information on the internet.

Here are tips you can implement in the successful running of your business to make things easier.

How Starting A CBD Business Can Help Young Entrepreneurs Achieve Success

With the current popularity and amount of usage, the CBD industry displays great growth potential. Being in its infancy, you can grow alongside the industry.

More people are using CBD as a healthy alternative to dangerous drugs that are prone to abuse. The use of CBD extends across all age groups. There is a huge gap in this business for young entrepreneurs. The CBD business can pave the way for success for young entrepreneurs because of its increasing popularity in the market.

Selling CBD gummies is one aspect of the CBD business that has proven beneficial. CBD gummies have diverse flavors and formulations. With the increasing wellness craze, the market for CBD gummies has gained massive popularity.

There is a marketplace for Cbdgenesis edibles products in UK. It is filled with brands that lack potency and purity, but a selected few sell the highest quality CBD gummy in the UK.

5 Ways To Become A Young Successful Entrepreneur

Self Assessment

Your personality will go a long way in helping you determine how much effort it will take you to succeed. Take an unbiased view of your weaknesses and strengths. Take note of the skills you possess, such as knowledge, resilience, experience, and persistence. Consider assessing your financial standing that is relevant to your business.

You can succeed in your chosen industry with the required abilities and knowledge, read more here.

Identify a Market Gap

This step is often overlooked, but it is an important process. This option is stating the obvious, but it remains one of the reasons startups fail.

It does not necessarily have to be an invention; you could consider recreating an existing product. Your idea must also be a profitable one. Some brainstorming will help you when you’re stuck. Using past experiences can also be helpful.

As a young entrepreneur, you need to view the world with the eyes of a problem solver. Some people recognize ideas but don’t work on them; you should not be like others.

Here are some guiding questions to aid your problem-solving process:

How do you want to create value?
Who would you like to target?
What are the trending business models?
Make inquiries on what people are missing in the market
What niche would you like to work in?

Pick a niche that you are passionate about

There are some challenges that entrepreneurs are likely to face in their businesses. But success is assured with the proper qualities. These qualities can be displayed when the business is born out of passion and interest.

Make your hobbies into businesses and put them out there. Lots of creativity is also needed for a business to thrive.

Utilize Networking Opportunities

It is important to recognize the experience and value people can offer your business as an entrepreneur. Make the best use of your networking opportunities from events. These relationships need not be in professional settings. It could be from industry talks or morning catch-ups.

Entrepreneurs need to be networking because it greatly helps them in their field. There are some places with groups meant explicitly for young entrepreneurs. This is a great way to meet professionals in your field and build your business connection.

Put Your Finances in Good Order

Even without excess funds, you can still be smart with the one you have for your startup. It is perfect to have a solid background in managing finances. It will assist in keeping your business alive.

Consider all the costs you will need to put in your business and your funding resources.

Conclusion

As mentioned earlier, it takes a lot of hard work to be a successful young entrepreneur. It does not happen overnight and requires enough planning to set off. Creating a clear vision for your business is paramount to the growth of your business.

The guide provided in this article entails baby steps that can be taken towards being a young and successful entrepreneur.

The Zab Twins: From Corporate Jobs to Amazon Experts

Recognizing the opportunity for young entrepreneurs to capitalize their business through Amazon FBA, the Zabierek brothers decided to launch their second business venture, “The Zab Twins”.

As entrepreneurship has become more popular than ever to the millennial generation, there has been a wave of young individuals quitting their corporate jobs and pursuing their dreams of becoming entrepreneurs. When Brian and Arek Zabierek had this realization, they utilized the skill sets and capital that their corporate job gave them and decided to not only create their own start-up but to share their knowledge with other young aspiring entrepreneurs.

After a year and a half in the corporate world, the Zabierek brothers left their undemanding 9-5 jobs and were running a successful start-up through the Amazon FBA model, generating over $1 million dollars in sales. Recognizing the opportunity for young entrepreneurs to capitalize their business through Amazon FBA, they decided to launch their second business venture, “The Zab Twins” and found themselves coaching over 200 entrepreneurs in how to launch their products through Amazon with the mission of inspiring a new generation of entrepreneurs and guiding them through their journeys.

While offering services such as Implementation & Automation, Group and One on One Coaching, a 12-week intensive boot camp and more, The Zab Twins took the feedback from their students and decided to launch a new program, “The FBA Start-Up.” This new program will be a revamp of the previous 12-week program, built to keep the students more engaged while giving them more flexibility.

When getting into the Amazon FBA space, The Zab Twins recognized they were falling into “information overload” due to the amount of content they were consuming. In order to prevent other entrepreneurs from experiencing this, The Zab Twins have limited the amount of content their students will consume at once while implementing an interactive component to the program to ensure students are retaining the information most important to their success. In addition, they spend time with their students in core components of the business building process to ensure that they gain the confidence they need to build a sustainable business and skillset.

The Zab Twins have taken their years of knowledge and experience to create a program for entrepreneurs that holds them accountable, while also creating a community of support. Allowing students to access The Zab Twins team of mentors, entrepreneurs can also seek knowledge and support from other successful business owners in hopes of giving confidence to new sellers.

The Zab Twins recognize the opportunities available to aspiring entrepreneurs and hope to motivate, teach and support individuals in reaching their full potential in the business world. To hear more from The Zab Twins, you can also listen to their podcast “The Young Start Up” on Apple and Spotify for more information on entrepreneurship and Amazon FBA.

www.thezabtwins.com

27 year old Shantanu’s startup talk ‘On Your Sparks’ grabs Ratan Tata’s attention

The startup ‘On Your Sparks’ was started by Shantanu Naidu. It is an online talk especially in the Lockdown situation, mainly to help aspiring entrepreneurs.

Shantanu Naidu is a 27-year-old MBA holder from Cornell University and has been assisting the chairman of the Tata Group of companies, Ratan Tata, for two years. Now, he has started his own startup talk ‘On Your Sparks’ where he delivers entrepreneurial lessons based on the lessons learned by him.

How ‘On Your Spark’ startup came into existence?

Last winter, Shantanu shared Ratan Tata’s startup pitch deck template on his Instagram handle, which had a huge response. Interestingly, he received a 97% vote in the Instagram poll from his 1 million followers. On this, Tata Trusts was asked if they would like him to put together a basic startup pitch deck template.

For the past seven months, Tata’s office has been receiving thousands of queries and calls. It is mainly for the help from young entrepreneurs asking how to helm ideas into entrepreneurial paths. Helping Ratan Tata in addressing all these queries, an idea about how to address queries clicked in his mind. This is how ‘On Your Sparks’ came into existence.

Every Sunday, Shantanu comes live with ‘On Your Sparks’ on his Instagram handle and there are always limited attendees i.e. not more than 30 in one session. Till now, he has conducted 7 sessions.

However, the charges per person for ‘On Your Sparks’ webinar are Rs 500, the proceeds which then go towards Motopaws. Motopaws designs and produces dog collars that shine in the dark. They are designed to protect the lives of dogs from being run over. Today, Motopaws has expanded in 20 cities and 4 countries.

Shantanu published a post on his Facebook where he informed that he had made collars with reflectors for stray dogs, this will help drivers to spot them on the roads of Mumbai. After reading about this innovation, Ratan Tata called him for a meeting.For this opportunity, Shantanu overwhelmingly wrote, “Word spread and our work got featured in the Tata newsletter.” Though he left India for further education, once he came back, Ratan Tata called him again and offered him a job in his office.

10 Ways to become a millionaire in 20s

Here are some steps to follow in order to start your journey towards becoming a millionaire.

Imagine if you could become a millionaire. How great would it be to have the money you need to live the lifestyle you have always wanted? Now imagine if you could do this in your 20s?

Even if you think it sounds like a stretch, it is possible to become a millionaire at a young age. It didn’t require years of school or training, just hard work and the right approach. Also please note that these rules can be followed at any age. When followed properly, they can help you become a millionaire sooner than you ever imagined. Here are some steps to follow in order to start your journey towards becoming a millionaire.

1. Focus on profiting from boring niches

So many people today think that if they want to become a millionaire, then they need to do so by following boring, widely accepted niches. It will take ages for you to become a millionaire through traditional occupations like becoming a lawyer, doctor or banker (in fact, these occupations usually have earnings limits that are very difficult to break through). Push past these pre-conceived notions of what it takes in order to become a millionaire. You don’t need to spend years in school to be a millionaire.

2. College and graduate school are irrelevant

If your number one goal is to become a millionaire, not to hold a specific type of job, then college and graduate school are pretty much irrelevant. They cost money, they can put you in debt and if you want to be a millionaire, you can learn everything you need to know online about most things without the big tuition costs.

3. Sacrifice your social life to study

It can be really hard to want to sacrifice your social life, especially when you are in your early twenties. However, if you want to truly become a millionaire, you need to be willing to sacrifice your social life in order to focus on your career. Spend this time studying, perfecting your talent or working on your skills, product or developing your company. The more you can focus on working on your talents instead of being out socializing, the better your time will be spent on becoming a millionaire.

4. Accept defeats and mistakes along the way

No matter where you are looking to go with your career, chances are you are going to face a number of defeats and setbacks. These mistakes are completely normal. What is important is how you handle them. My first millionaire student Tim Grittani actually lost a lot trading stocks for the first few months until he got the hang of it. Mistakes are normal. How you handle them is what sets you apart.

5. Aim higher than one million

Money shouldn’t be your endgame. Rather, you should focus on making the best product or service possible, and the money will come as a result from that. Your goals should always be growing and you should never feel like you are done working towards your goals. If you want to make $1 million, the second you reach that goal, you should be looking to your next one.

Also read: Why Following Your Own Dreams Is Not Selfishness

6. Don’t scam people

The key to making millions is patience and honesty. You need to be forthright when it comes to working with others, or you will never make as much money as you want to. Criminal or unethical money never lasts and it will never give you the type of professional reputation that you can use to create millions.

7. Take advantage of hot sectors

When certain sectors are really hot, you need to get in early to make your money. Take advantage of these hot sectors to start making your millions. Right now one of these hot sectors is social media, specifically Instagram, Snapchat and Periscope. These hot sectors can lead you to the millions you want to make.

8. You don’t need to focus on next generation technology

Many aspiring millionaires — especially young aspiring millionaires — think that they need to focus on next-generation technology in order to make their fortunes — this isn’t the case. Even merging something old and boring with a fresh take is what led to the creation of eBay.

9. It doesn’t matter where you live

One of the great things about the Internet is that it allows for sales, commerce and profits to come from anywhere. You can run your business anywhere that you have an Internet connection; you don’t need to physically live in a big market to make money. This is a great opportunity to live somewhere you actually want to live while still making a great deal of money.

10. Your business doesn’t need to profit for you to succeed

So many people are only focused on creating a business that has profits. Businesses don’t need to have profits — they just need growth, users and some edge. Many businesses are acquired just for their attributes other than profit margins (just look at how many Internet startups get sold). Focus on user growth rather than raw profits. No one pays for a good idea that’s lacking in users.

Also read: 12 Ways To Avoid Startup Mistakes

This article was originally published in Entrepreneur.com

Image credit: pfmag.com