The transition from wanting to earning is one all millennials strive for. However, the challenges and obstacles that come about during this journey are rarely recognized. Ignorance of the issues a young entrepreneur will face stand as the largest reason for defeat. Here at OLN Inc., we want to end this pattern. It is our hope to educate hopefully millennials about the road ahead, with both its successes and failures.
Resources and Capital
Entrepreneurship is the type of business where you get out what you put in. Many young entrepreneurs are not coming into this business with pockets overflowing and endless amounts of money. One thing you need to consider as a young entrepreneur, is that capital comes in multiple forms. Manpower and work ethic are heavy sources of capital in the business industry, and as a young entrepreneur, one can expect to go above and beyond if they want to achieve a goal. The greatest thing you can bring to the table in those first couple of months is hard work and dedication.
Habits and Disciplines
One of the greatest benefits to the entrepreneur life is the freedom of time, but the key to the downfall of many is lack of discipline. Whether your gift is working from home, flexible scheduling, or deadline assignments, it is very easy to push off responsibilities until the point of no return. Develop strong habits from day one, and force yourself to follow a routine. You are the creator and destroyer of your own destiny, and the career of entrepreneurship gives more opportunities for self-destruction than most. Be your best ally, not an enemy. Lack of discipline and weak habits will be the poison crippling your career from the top down.
Guidance and Mentorship
Overall, the greatest gift that this career will give you is the opportunity for mentorship. Fellow entrepreneurs are more willing than most to reach out and lift up those under them. However, you are 50% of that equation. Mentors and leaders will not come running to your door, rather they will patiently wait for you to invest the same amount of energy as them. Mentorship is a two-way street and a relationship, not a product you can buy. Alongside the freedom of time, entrepreneurship is an industry free of roadmaps. Each entrepreneur will find his own way to be and create his own success, and for that reason, it is absolutely imperative to follow the guidance of those who have come before you. Never be arrogant or naïve enough to ignore advice from those more successful than you, think of it as a secret tip from the top.
Despite all of these obstacles, it is clear to us that entrepreneurship provides the greatest, most fulfilling, and most successful careers for millennials. From all of us here at OLN Inc., we encourage you to stick it out, and wait to reap those benefits- that day will be sooner than you might think.