At 22 I was working as a staff in a multinational bank, and having the time of my life. Two years later, I quit my job and started my own business. And yes, I was still in my twenties.
I was a young man who had good prospects in the banking industry, but I was willing to throw all that away. Lots of my colleagues in the bank thought I was out of my mind.
I kept on hearing statements like: “It’s a big risk”. “You could fail”. “It is very demanding”. “You will never have time again”. “You might go into debt”. And my favourite: “It is not easy”.
Presently, some of them have lost their jobs due to the recent dwindling price of oil which affected a lot of businesses. Many of them are now willing to start their own businesses, as getting new jobs has not been very easy.
I am grateful that I opted for entrepreneurship when I did. Was it a very easy decision for me? Absolutely not! I just had very strong reasons which pushed me to take that leap.
If you are still in your twenties and you have a business idea, launch out now. Below are 9 strong reasons to start a business in your twenties:
- You still have the much needed drive.
Starting a business is easy; building it into a successful enterprise is the hard part. It requires a lot of enthusiasm and drive.
There are times when the business will demand a whole lot, or all of your time. These are times when you may be so busy that you hardly sleep for some days, and you could break down unless you take these steps. These are days when you may not have enough money, so you are forced to do a lot of things by yourself so no delegation of duties for you. Your drive may be all you have to keep you going on such days.
Since you are still in your twenties, chances are that you still have a lot of that much needed drive. Maximize it by starting a business now that you are still in your twenties.
2. You don’t have a lot to lose if you fail
The first business I started folded up a few months later. I was a college student back then and the demands of school were too much for me. I couldn’t just afford to give enough attention to my new business. I was not surprised when it failed.
The business was a telecom airtime voucher selling business that I started with about $120 dollars. When it folded, I quickly shifted all my attention to my studies. I had something else going on for me, and didn’t really have a lot to lose.
3. You can afford to take the risk.
If you are still in your early twenties, there are chances that you are not responsible for anybody else except yourself. You are probably not yet married; neither do you have a kid yet. That means that no matter what happens to you, you have just yourself to worry about.
This knowledge was what gave me the courage to quit my banking job and launch my own start-up successfully.
4. There is no age restriction to business success.
I saw a story recently about how Tucker Hughes was able to build a business and become a millionaire at 22. His outstanding success proves yet again that when it comes to being successful, age is just a number.
5. If you start a business in your twenties, chances are that you can recover quickly if you fail
If you start a business in your twenties, then there is a big chance that you may not invest a lot of time or money in it. So if it fails, it will be easier for you to learn from the experience, pick up the broken pieces and move on.
Sometimes, that could not be the case. Maybe in your own case, you have invested a lot of time, money and energy into your business. In spite of all that, it will still a lot easier for you compared to if you are in your forties.
6. You are still easily impressionable
One of the key factors that determine how successful you will be as an entrepreneur is how much you know with respect to your business. This factor will work to your favor if you start a business in your twenties.
This is because you can easily develop new skills, and learn a lot of things pertaining to your business. Doing this means you will succeed a lot faster than most of your counter parts.
7. You are tech savvy
I didn’t need anyone to teach me a lot of the things I do online these days. Nobody equally taught me about using some software and online applications which my business needs desperately.
Being in your twenties means that most technological innovations as regards businesses are not strange to you. If you start a business in your twenties, you won’t experience the hitches the older generation face daily. Heck, you can even use most new tech softwares even without reading the user manual.
8. You probably spend too much time on the internet.
There are a lot of online businesses that you can start by the way. But even if your business is not an online business in a sense, it will definitely need an online presence, at least because your business needs e-commerce to thrive.
A lot of people within your age bracket spend most of their time on the internet. If you do, rather than cut your online presence or social media activity, channel it towards your business.
9. Getting a job will be easier if you decide to switch than if you are older.
Everybody must not be an entrepreneur. If you try your hands on starting a business and you find out that you are not cut out for entrepreneurship, then you should return to the labour market. It will be a lot easier for you to get another job if you are still below 30.
How old were you when you started your first business? Is there any advantage you feel you had when you were younger? Please share your experience in the comment section. And don’t forget to subscribe by submitting your email in the pop-up box below to receive our weekly newsletter.
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I originally published this post on Huffington