There’s a standard accepted path to success in life, and it goes something like this – Get a degree, start a job, find the love of your life, have children, and live happily ever after. However, more and more people are beginning to see that this standard path doesn’t work anymore and are instead opting for entrepreneurship.
Owning a business is tough work, though. Being in your twenties makes it even more challenging. For most people, the twenties are about college, partying a little too much, and finding yourself. But, top business experts and reputable publications like Inc. and Entrepreneur Magazines are urging people in their twenties to do more. In fact, most financial and business experts agree that your twenties are the best time to start a business.
An increasing number of millennials and Gen Zs are finding success by taking the path less traveled. Instead of opting for college and hanging out with friends, they’re using their free time to hustle and start successful multi-million-dollar businesses. Now, college and entrepreneurship aren’t mutually exclusive, you can do both, but contrary to the long-held popular belief, you don’t have to anymore.
So, how can you ensure that you’re a success story and not just some twenty-something who wasted their youth on a failed business? Here are six top secrets to starting a business in your twenties.
Secret #1: Start with a Side Hustle
Unless you have wealthy parents or some start-up capital, you’re going to have to grind to get where you want to be. For a while, that will mean working your regular job and doing a side hustle. Sometimes your side hustle is just to earn extra money, but sometimes that side hustle will become your business.
Secret #2: Don’t Sleep Away Your Time
Most people in their twenties have a habit of sleeping in late. That’s okay if you’re trying to party it up, but if you want to build a successful business, you have to wake up and start your days. Be sure to get enough sleep and know that the early bird gets the worm. To fit in a full-time job and side hustles, you’re going to need more hours than most people, so you’ll have to become stellar at time management.
Secret #3: Stop Drinking So Much
Drinking is expensive, and it also eats up your time. If you spend all weekend, every weekend at bars, you’re losing valuable time and sinking your seed money into getting wasted.
Secret #4: Get a Handle on Your Finances
You’re going to have to learn to be frugal and start building credit now. While a lot of online businesses can be started with very little capital, if you have more ambitious dreams like opening a successful bar or hiring coders to develop an app, you’re going to need start-up capital and the ability to attract investors or qualify for a loan.
Secret #5: Learn About Online Branding and Marketing
Whether you have a brick and mortar business or an online company, knowing digital marketing and branding techniques will help you significantly on your path to success. Learn everything you can about SEO, content strategy, social media marketing, and pay-per-click advertising. If all of that sounds foreign, it’s time to start researching!
Secret #6: Talk About It
No matter how brilliant your idea, you can’t create magic in a bubble. You need to talk about your ideas, strategies, and frustrations with trusted friends or mentors. Being an entrepreneur can be lonely. You’re doing something that most people won’t ever do, so know that having someone to talk to will be incredibly crucial to your success. If you stay the course and follow these six tips, you’ll have no shortage of people wanting to talk to you about how you did it.