Does age have anything to do with the success of a small business? Judging from the number of young entrepreneurs out there, you might think not. No matter what generation you’re in, take note from these qualities of young entrepreneurs, since they just might help you boost your own success.
1. Young Entrepreneurs Reject the Status Quo
For Baby Boomers, most spent decades earning their stripes working for someone else before becoming entrepreneurs. The Millennial generation, on the other hand, doesn’t believe that that is the only path to small business success. So instead, they’re forging their own path and starting businesses in their 20s (or even younger).
2. They’re Not Afraid of Hard Work
Millennials get a bad reputation, and are often called lazy and entitled. But the truth is: they’re the ones running America’s startups, and they’re not afraid to work 60-100 hours a week to reach their goals.
3. They’re Open to Risk
No one ever hit skyrocketing success by being cautious, and young entrepreneurs get that. They understand that they’ve got to be open to taking risks so that they can reap those sweet, sweet rewards.
4. Entrepreneurship is a More Popular Option Than in the Past
It used to be that, in your youth, you didn’t know anyone in your circle who was a business owner. But now, the number of 18-20 year-olds who want to start a business has risen, as entrepreneurship becomes a more accepted and popular alternative to working for “the man.”
5. Universities Now Encourage Entrepreneurs
When I got my MBA (not that long ago), we dabbled in the topic of entrepreneurship, but we weren’t really taught to think like entrepreneurs or realistically consider it as an option. Now there are world-renowned classes on the subject, which is making for a higher caliber of young entrepreneurs.
6. Young Entrepreneurs are Sooo Connected
Whether you’re talking about checking their email on their mobile phones or constantly tweeting about their brand, the new generation of entrepreneurs knows the importance of technology and leverage it in their favor.
7. They’re Collaborative
All those group projects in high school seem to have paid off, because successful young entrepreneurs are working with others to come up with even more innovative products. They don’t operate in a bubble, and they rely on a team for their achievements.
No matter what age you are, putting effort and attention into helping your business thrive always pays off.
Susan Payton is the President of Egg Marketing & Communications, a marketing firm specializing in content writing and social media management. She’s written three business books, including How to Get More Customers With Press Releases, and frequently blogs about small business and marketing on sites including Forbes, AllBusiness, The Marketing Eggspert Blog, and Tweak Your Biz. Follow her on Twitter @eggmarketing.