#YoungEntrepreneur #SMMA #StartingABusiness
Hey Redditors,
I’m Cora, a law student diving into the world of entrepreneurship by starting a small SMMA business. I could use some advice from those with experience in this field – What do you think is the single, most difficult thing about being a young entrepreneur? 🤔
Here are some tips that I’ve gathered so far:
– Balancing academic commitments with business responsibilities
– Navigating the competitive market and standing out
– Managing finances and budget effectively
Do you have any suggestions on how to overcome these challenges or any other insights to share? Let’s help each other out and support the next generation of entrepreneurs! 🚀💡
For me is the loneliness combined with uncertainty.
1. Not knowing what you don’t know
2. Info overload
3. Volatility how open-ended it is (also a good thing). i.e. whether it will succeed or not, the how much money will be made or can be made, etc.
4. It becomes a 24/7 thing (mentally). You’re always thinking about it, it’s never “done,” there’s always more to do and more to learn
5. Stress and getting burnt out
Very stressful, really fun. Make sure you have a great product, it makes sales really easy. Give 10x the value. Be firm on your value. People will always ask for trials, say no, believe in your product (make sure it’s damn good) and be HUMAN. People take the human out of business way too often. Check in on people, ask what you can do to help. You’re never too busy for a personal touch. Best of luck
Experience
Managing your mental health / stress. It’s a rollercoaster journey with ups and downs, something you can’t really prepare for. But if you’re willing to go along with the ride it’ll be a fun one!
Those experienced don’t take you seriously and your peers will all tell you that you can’t succeed. Then when you do succeed your peers all think you got lucky and the experienced people will be the ones congratulating you. It really opens your eyes to the nature of your “friends”. In short, It’s a lonely ride
Thank you everyone for the help! Greatly appreciated, I’ve noted a few things. Wish you all the best.