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Top 4 Challenges Young Entrepreneurs Face (And How To Overcome Them)

Being a young entrepreneur isn’t without challenge. But don’t let age-specific challenges deter your path towards self-employment.

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  1. Still wet behind the ears.

    One distinct characteristic of being a young entrepreneur is naiveté. Regardless of how smart you are or how many honors you earned in school the “real world” experience is invaluable.

    My first real management experience came after I launched my first business. As an accomplished MBA student, I naively devoted two weeks to reading acclaimed management theories and soon considered myself prepared to manage anything, or anyone. Boy, was I naive!

    Hours into managing a general labor force assembled from a Craigslist listing, I quickly realized I was in over my head. While the experience was both costly and humiliating in a number of ways it quickly taught me the best way to combat naiveté is experience — not solely intellect.

  2. Social rejection can sting.

    Launching a profitable business is one of the most monumental undertakings a person can encounter. It takes an idea, inspiration and ninja-like execution and leaves very little time for “normal” life. Friends and family often don’t “get” your business or understand your “obsession” with a far-fetched idea you are hell-bent on monetizing.

    Entrepreneurship, to the outside world, is foreign language. It can, at first, be an isolating venture. We’ve all been there … fearlessly dedicating every waking hour to our passion only to look up and find ourselves alone and rejected by those who boast membership to “normal” society.

    Don’t fret. Entrepreneurship doesn’t have to be lonely and normal is overrated. If you find yourself depressed as an early-stage startup, prioritize networking with other self-starters and ambitious young professionals. While many people rely on a 9-5 job to fulfill their social needs, instead seek to rebuild a network of like-minded peers that support you and your passion.

Conclusion

Being a young entrepreneur isn’t without challenge. But don’t let age-specific challenges deter your path towards self-employment. Strive to overcome each challenge presented with perseverance and enthusiasm. I believe Winston Churchill said it best, “Continuous effort –not strength or intelligence—is the key to unlocking our potential.” Commit to “continuous effort” and watch your business grow.

 

This article has been edited and condensed.

Hannah Becker, serial entrepreneur and MBA student, is author of The Motivated Millennial: An Entrepreneurial Guidebook for Generation Y and Founder/Consultant at HCB Consulting. Passionate about entrepreneurship, Hannah is committed to encouraging millennials to pursue their entrepreneurship dreams. Hannah currently resides on a small cattle farm in the Flint Hills of Kansas, with her husband and horses.Visit The Motivated Millennial for more information and resources to aide your entrepreneurial journey. Connect with @MotivatedGenY on Twitter.

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