5 Reasons Why You Should Start A Business Before You’re 21

Alumni Advisory Board Member Dan Bridgewater who aged 20 is founder and managing director of the Fourth Wall Theatre Company (http://www.fourthwalltheatre.co.uk/), sets out 5 reasons why young people should start a business before they are 21.

The article is reproduced from Dan's blog below. http://fourthwalltheatrenetwork.wordpress.com/2012/01/26/5-reasons-why-you-should-start-a-business-before-youre-21/.

I recently read an article about how to overcome being young whilst starting/running your own business (which you can read here http://bit.ly/zduwsV). This article was full of very true observations that resonated with my own experiences. The advice given was thought out and would be extremely useful to anyone looking to take their business idea forward. Overall, a recommended read (thinking about it, you should probably read it before you read this post…)

This response almost goes hand-in-hand with what the article talks about. Yes, you will come up against challenged JUST because you’re young. People will be cynical. People will assume you have little experience that is of use to them. People will doubt whether you are serious and will subtly patronise you. And, believe me, people will question whether you are capable.

‘Because of my date of birth i’m automatically five paces behind my competition.’

This can be daunting. Instead of scaring the bejeeeeeeeeebers out of all ‘would-be’ entrepreneurs, below I have given 5 reasons inspired by my own personal experiences why they should enter the breach. Here it goes…

1. It is easier to impress

Tom is 18. John is 28.

Both are smartly dressed, professional business cards in hand, brimming with confidence, and a well thought out business idea. Exactly the same variables to the equation except one: their age.

The mindset of many people is that a young person is not capable of presenting themselves as a credible professional. The mindset of many people is that an almost thirty-year-old trying to get into business should have this presentation as standard.

People are suprised when an 18/19 year-old presents themselves as a confident business-person who is not fazed by the, frankly, daunting task of ‘playing with the big boys’. Overcoming this misconception allows you to impress – they do not expect you (as a ‘brand’ – which is the way I see it) to be so crisp and slick.

So, everything you’d expect a 50 year-old CEO to be doing – you do. Dress to impress, believe in yourself and make sure you as a brand are presented in a professional way.

2. You have access to networks that you don’t even realise are networks*

* by network, I mean any stakeholders in your business.

As a university student studying at the University of Birmingham, I have access to 27,000 young people that will be, at some point, in one location (on campus).

(*WARNING: TECHNICAL TERMS ACOMING) By either segmenting your audience and targeting specific marketing campaigns at this age group, or creating a product/service specifically or predominantly designed for university students, you can utilise this. Many CEOs would either not have access to this or would take 10 times longer to fully infiltrate.

Even if you’re not a university or college student, you will inevitably have some connection to these micro-worlds. Work out how and make the most of this opportunity.

Facebook is also another great example of a network of potential customers. Although my friends wouldn’t be friends for much longer if I constantly spammed them with desperate plees for business, if you’re providing something they like, they’re more likely to go with you than somebody else.

This leads me on to point 3…

3. Technology is your friend. And it’s been your friend a very long time.

There’s no denying that 90′s kids have timed their births impeccably. Pokemon cards, Sunny Delight, and of course the technology boom.

We have been brought up with a keyboard under our fingers and the internet as our play-thing. People used to pay to have lessons on how to touch-type! We can touch-type whilst checking our updates on Facebook whilst downloading our favourite music and, at the same time, Skyping our friends living thousands of miles away. And we learnt to do this without even realising.

Technology connects us to our networks, to ideas, and to resources and we’re the best trained to use it.

If you have an idea, research your competition, email some organisations that may be able to offer advice/support, and create a presence on every social media website going. It’s quite basic stuff but even some major organisations have been known to struggle.

4. People expect you to need help

Although this can be extremely annoying at times (I once got asked whether I needed help setting up a Twitter account) the idea that because you’re young, you will need extra support can have major benefits and shouldn’t always be seen as a negative.

We all need help. I will not pretend that I am the expert on everything. I’m probably ‘not an expert’ on about 97% of the tasks I come up against as an entrepreneur and as a university student. Cooking – one thing I am definitely not an expert on. Law – another. So, there’s the obvious ‘I don’t have a clue what I’m doing – oh, here comes Bob to help me because he understands that I don’t have a clue what I’m doing’.

However, because I’m young, it doesn’t mean that I need help with my Twitter. But if someone is willing to help because they think you do, it isn’t necessarily a bad thing. Ultimately it shows they care and that they believe in you enough to help you progress.

This almost patronising (but generous) act could be the first of many. Eventually they could be helping you with your book-keeping, or your marketing campaigns, or putting you in contact with that one investor that takes your business to the next level.

Another angle is that people aren’t suprised (or are less suprised) when you ask. I would almost guarantee that if 18 year-old Tom asked what an invoice was to his first big client, it would be less off-putting for said client than if John asks.

Don’t be afraid to email total strangers asking for advice. Explain your youth and show your enthusiasm and wait for that reply.

They will be flattered. And, I like to believe that when I ask, they’re thinking ‘I’ll help him because I believe he can make it. But first I, in all my badassness, must help him on his journey’.

5. You’ve got time on your hands

This may be the controversial one amongst any younger readers…

I believe that anyone under 21 has time to make a business work (granted, if you’re at college it may be a bit more difficult but it’s still possible!)

I currently study at university, work part-time, have a girlfriend (which is a full-time commitment!) and a family that go grumpy if they don’t get that text ‘to say I’m okay’, go clubbing 2-3 times a week whilst socialising in between, am part of the UpRising Alumni Advisory Board, am becoming politically involved. Oh, and I have my own business.

I am extremely proud of this balance but, if I’m being honest, it isn’t that difficult.

I only really have to look after myself and my room. I’m not really tied down to anything. I don’t have kids, for example, that constantly need my attention.

I would say university is only 30% work. Lectures are infrequent and reading – well – i’ll get reading when my exams come round.

Okay, I haven’t played on an Xbox in years (which is ridiculously hard when your flatmate has Fifa 12 and two controllers) but this emphasises that with a business, you have to be clear where your priorities lie. Maybe I could substitute clubbing with Fifa?

I enjoy making my business work and the people who are part of my team and who support me give me an opportunity to socialise and still be ‘normal’.

Instead of sitting watching T.V. for four hours, maybe watch it for two and send emails for the other two? It’s about finding balance; being ‘normal’ but extraordinary all at the same time.

Overall I think being 20 and trying to make a success out of my business is a great thing. Yes, it is a challenge but here are five good reasons why you should give it a go.

‘Because of my date of birth i’m automatically five paces behind my competition. At least I stand out.’

Daniel Bridgewater

Founder and Managing Director