Member-only story
11 Lessons Young Entrepreneurs Must Know Before Starting
4 min readJan 30, 2024
- Make Sure This Is What You Want — Too many young entrepreneurs get enticed by this glorified idea of self-employment and are completely unaware of the sacrifices and cost this requires. If you are not willing to work harder than in a regular job for no pay and then still end up with average pay for a long time, then do not go down this route. Yes, there are those that succeed and make it big, but those are in the minor percentages (see “Survivorship Bias” for more information).
- Identify Your Values — Find out what you value before you go into entrepreneurship. Is it time? Friends? Success? The clearer your own priorities are the better you will be at sacrificing the right things for what you want and won’t regret making the wrong ones.
- Have A Personalized Dream — “Being rich” is not a good dream. “I want to own a home that has a slide to a pool in the closet of the master bedroom” is a much better one, not because it is morally or objectively better, but because it is personal and detailed. Why do you want what you want? When you can answer that question distinctly and eloquently, you have a strong motivator.
- Count The Wins — Your main focus should be on winning. Do not distract yourself with the ways you are loosing and count every single day, moment and activity that can be considered a win…
