Traditionally, starting up your own business would be something you would do later in life, once you had some more experience behind you in the business environment. This didn’t apply to all, there a few that start early, an example of this is Sir Richard Branson who started his first business at the age of 16. This was a magazine named ‘Student’ this focused on music at the time then he eventually went on to start selling music, and therefore that was the birth of Virgin Records.
This may all seem well and good and taking nothing away from Sir Richard as he has done wonders with his companies for the British economy and public. His father was a barrister and his grandfather was also a ‘Sir’ and was a judge for the high court of justice. So its safe to say that Sir Rich was from an under privileged background and would have never had the worry of money constraints stopping him from gambling with his business. In the long run his gambles have paid off more than he could have ever imagined. But at a young age would he have taken those gambles if he was from an average working class background?
It’s also been reported that Sir Rich suffered with dyslexia as a child, another very well know entrepreneur also suffered with this too, Lord Alan Sugar. Sugar is another businessman who started at a very young and as we all know he has gone on to be very successful and become a very wealthy individual.
Not everyone can have the business acumen of Sir Rich or Lord Sugar or maybe even sheer luck at the time, only they will truly know. For young students leaving university now and over the coming years they may be less inclined to start new businesses because of the current economic climate and the fact that 120 of them go bust everyday, this may be off putting.
However with the power of the Internet and super fast broadband there are options out there for young people. Also the supremacy of social networks, such as Facebook which now has an estimated 1Billion users, anyone can reach thousands of people who are all potential consumers through the click of a button. This all depends on the product and how well it is communicated across, but with social media the platform is there to get your product out there without incurring extremely high advertising costs.
David Hernandez, a business investor, wrote this article to encourage young people to invest their money in business with the hope of one day being successful.