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10 Things Successful Young Entrepreneurs Do Differently

10 Things Successful Young Entrepreneurs Do Differently

Generation gaps are getting more and more severe and, when you think about it, it’s really no surprise. The rushing technological development of humankind that sprang in the 20th century and is still going strong in the 21st has been the catalysts to mark this gap so severely.

Truth be told, if I was born somewhere in the 40s or 50s, I would most definitely have a lot of trouble understanding the lives of youngsters these days. It is very challenging to even filter all the information that we now have access to, let alone put it to good use. I mean, I’m not terribly surprised by the look of bewilderment on my mom’s face when I show her my Twitter profile. Heck, even I get lost in there sometimes.

These years have been marked by the success of the generation of people popularly named the millennials. People born between the beginning of the 80s up to somewhere in the mid 90s can consider themselves a part of this group. There are some things distinct about this particular age group that makes them capable of achieving success very early in their lives. Here are some of the traits & tricks these young entrepreneurs boast about and rely on when making decisions.

1. Mark Zuckerberg: Be dedicated

(1) Mark Zuckerberg

    “Are you willing to make sacrifices for your passion?”

    As the owner and founder of Facebook, Mark Zuckerberg is one of the most successful people in the world, let alone among the millennials. Dedication to work and innovation have set this 30-year-old genius apart from the competition, and his wealth is estimated somewhere around $33.1 billion. According to Mr. Zuckerberg, you should devote yourself to what you are doing and if this means missing a few nights out then so be it.

    2. Aden Levin and Rob Tominey: Know your market

    (2) Aden Levin and Rob Tominey

      “Essentially, we want to become the number one company for inexpensive but high quality travel.”

      Millennials are quite aware that the majority of their generation loves to travel and these two young entrepreneurs, being that they are a part of this generation, found it as an ideal place for investment. The broader message here is to be aware of the time that you live in and give the people what they want, don’t try to convince them into what they need, in other words, there words do your market research thoroughly.

      3. Jamie Dunn: Choose your friends wisely

      (3) Jamie Dunn

        “Surround yourself with positive people who believe in you.”

        As a 20-year-old who managed to put his own company together at that age and ended up hitting major success, Jamie Dunn definitely has natural talent for entrepreneurship. When he was asked what he found most difficult through his rise to success, he replied that the biggest problem was breaking out from that circle of people who claimed he would never make it. Encouragement is a big part of success.

        4. Ben Weissenstein: Start at the bottom

        (4) Ben Weissenstein

          “Everything started as nothing.”

          Mr. Weissenstein’s career started when he was helping his mother organize a garage sale at the age of 14. At the age of 19 he had already started a company with a couple of friends with no knowledge of how to run a business. He claims that their organization was rather simple in the beginning but, gradually, they learned and got more organized.

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          5. Amelia Humfress: Enjoy diversity

          (5) Amelia Humfress

            “You get to dive straight into the interesting challenges and do something different every day, rather than just making the tea!”

            In her first year as an independent coder, Amelia made a turnover of £408,000. Today, she holds Humfress’ coding, which has the flattering title of one of the best places to code in 2014 and currently offers classes in many types of coding, web design and much more. She claims that her motivation comes from the fact that her job always has to offer new and interesting challenges.

            6. Sheel Tyle: Find your inspiration

            (6) Sheel Tyle

              “Finding your motivation and drive that will not go away”

              The youngest on the Forbes 30 under 30 finance list in 2013, Sheel Tyle is an associate NEA at a venture capital firm and a young entrepreneur. He ties his greatest inspiration to an event he witnessed on the streets of Mumbai. Apparently, he witnessed a man haggling a price of his purchase from 20 to 19 rupees (which is somewhere around 2 cents) and this kind of devotion inspired him to start his own career.

              7. Sheryl Sandbergs: Keep the ones you love close

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              Clinton Global Initiative Annual Meeting In New York

                “Remember to find some times for the ones you care about”

                A woman that managed to get Facebook’s shares up 140% works hard but doesn’t only focus on work. Outside of work, she has an active life with her family and friends which is something that is generally considered a priority by millennials across the board.

                8. Steph Parker: Know your SEO

                (8) Steph Parker

                  “Learn about social media and modern marketing.”

                  As one of Forbes’ Top 30 under 30 Marketing and Advertising, her career has really been a diverse one. One of the crucial things that helped her move forward was her experience and understanding of how SEO works which helped her discover how content actually reaches people. If you want to be a modern entrepreneur, you have to use the right SEO tools in order to allow people to reach the idea you want to present them with.

                  9. George Burgess: Be a problem solver

                  (9) George Burgess

                    “Finding solutions to problems you have and then capitalize on them.”

                    As a student, Mr. Burgess had trouble finding any useful apps to help him prepare for his A-Levels. The fact that there is a considerable number of apps out there and that none of them helped students get through their education struck him as an ideal place for investment and it appears he was right. Focusing on real needs is a must if you want people to take notice.

                    10. Jamal Edwards: Make your hobby into a profession

                    (10) Jamal Edwards

                      “Turning a hobby into an entrepreneurship ends up leaving you with work you love.”

                      At 15, he started amateur filming with his friends, just for fun and he uploaded his first video in 2007. In just 7 years, he has grown so much that he worked with some of the most famous Pop Stars out there and gathered a following of 400,000+ subscriptions on YouTube.

                      There is a lot to learn from these young people and I hope this helps you on your way to success. Remember, not every entrepreneur makes it as quickly as these guys, so don’t get discouraged and things will definitely happen for you.

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                      Ivan Dimitrijevic

                      Ivan is the CEO and founder of a digital marketing company. He has years of experiences in team management, entrepreneurship and productivity.

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                      Last Updated on April 6, 2020

                      How to Make a Career Change at 50 for Great Opportunities

                      How to Make a Career Change at 50 for Great Opportunities

                      Turning 50 is a milestone in anyone’s life, after all you are half way to 100! But seriously, turning 50 is often a time in life when people can sit back and take a look at where they’ve been and contemplate what the future holds.

                      Can you change careers at 50? It’s not uncommon for people in their 50’s to consider a career change, after all if you’ve spent 20 to 30 years in a career, chances are that some of the bloom is off the rose.

                      Often, when we are starting out in our 20’s, we choose a career path based on factors that are no longer relevant to us in our 50’s. Things like our parents’ expectations, a fast paced exciting lifestyle or the lure of making a lot of money can all be motivating factors in our 20’s.

                      But in our 50’s, those have given way to other priorities. Things like the desire to spend more time with family and friends, a slower paced less stressful lifestyle, the need to care for a sick spouse or elderly parents can all contribute to wanting a career change in your 50’s.

                      Just like any big life changing event, changing careers is scary. The good news is that just like most things we are scared of, the fear is mostly in our own head.

                      Understanding how to go about a career change at 50 and what you can expect should help reduce the anxiety and fear of the unknown.

                      What are Your Goals for a Career Change?

                      As in any endeavor, having properly defined goals will help you to determine the best path to take.

                      What are you looking for in a new career? Choosing a slower less stressful position that gives you more time with family and friends may sound ideal, but you’ll often find that you’re giving up some income and job satisfaction in the process.

                      Conversely, if your goal is to quit a job that is sucking the life from your soul to pursue a lifelong passion. You might be trading quality time with family and friends for job satisfaction.

                      Neither decision is wrong or bad, you just need to be aware of the potential pitfalls of any decision you make.

                      Types of Career Changes at 50+

                      There are four main types of career changes that people make in their 50’s. Each type has it’s unique set of challenges and will very in the degree of preparation required to make the change.

                      Industry Career Change

                      In this career change, a person remains in the same field but switches industries.

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                      With an industry change, a person takes their set of skills and applies them to an industry that they have no previous experience in.

                      An example would be a salesperson in the oil and gas industry becoming a salesperson for a media (advertising) company. They are taking their skill set (selling) and applying it to a different industry (media).

                      This type of career change is best accomplished by doing a lot of homework on the industry you want to get into as well as networking within the industry.

                      Functional Career Change

                      A functional career change would be a change of careers within the same industry.

                      For example, an accountant at a pharmaceutical company who changes careers to become a human resources manager. It may or may not be with the same company, but they remain within the pharmaceutical industry. In this case, they are leaving one set of skills behind (accounting) to develop a new set (human resource) within the same industry.

                      In a functional career change, new or additional training as well as certifications may be required in order to make the switch. If you are considering a functional career change, you can start by getting any training or certifications needed either online, through trade associations or at your local community college.

                      Double Career Change

                      This is the most challenging career change of all. A person doing a double career change is switching both a career and an industry.

                      An example of a double change would be an airline pilot quitting to pursue their dream of producing rock music. In that case, they are leaving both the aviation industry and a specific skill set (piloting) for a completely unrelated industry and career.

                      When considering a double career change, start preparing by getting any needed training or certifications first. Then you can get your foot in the door by taking an apprenticeship or part time job.

                      With a double change, it’s not uncommon to have to start out at the bottom as you are asking an employer to take a chance on someone without any experience or work history in the industry.

                      Entrepreneurial Career Change

                      Probably one of the most common career changes made by people in their 50’s is the entrepreneurial career change.

                      After 20 to 30 years of working for “Corporate America”, a lot of people become disillusioned with the monotony, politics and inefficiency of the corporate world. Many of us dream of having our own business and being our own boss.

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                      By this time in our life, we have saved some money and the financial pressures we had with young children have passed; so it’s a perfect time to spread our entrepreneurial wings.

                      Entrepreneurial career changes can be within the same industry and using your existing knowledge and contacts to start a similar business competing within the same industry. Or it can be completely unrelated to your former industry and based on personal interests, passions or hobbies.

                      A good example would be someone who played golf as a hobby starting an affiliate marketing website selling golf clubs. If you are considering an entrepreneurial career change, there are a lot of very good free resources available on the internet. Just be sure to do your homework.

                      Practical Tips on Making a Career Change at 50+

                      So you’ve decided to take the plunge and make a career switch in your 50’s. No matter what your reasons or what type of a career change you are embarking on, here are some helpful hints to make the transition easier:

                      1. Deal with the Fear

                      As stated earlier, any big life change comes with both fear and anxiety. Things never seem to go as smoothly as planned, you will always have bumps and roadblocks along the way. By recognizing this and even planning for it, you are less likely to let these issues derail your progress.

                      If you find yourself becoming discouraged by all of the stumbling blocks, there are always resources to help. Contacting a career coach is a good place to start, they can help you with an overall strategy for your career change as well as the interview and hiring process, resume writing / updating and more. Just Google “Career Coach” for your options.

                      I also recommend using the services of a professional counselor or therapist to help deal with the stress and anxiety of this major life event.

                      It’s always good to have an unbiased third party to help you work through the problems that inevitably arise.

                      2. Know Your “Why”

                      It’s important that you have a clear understanding of the “why” you are making this career change. Is it to have more free time, reduce stress, follow a passion or be your own boss?

                      Having a clear understanding of you personal “why” will influence every decision in this process. Knowing your “why” and keeping it in mind also serves as a motivator to help you reach your goals.

                      3. Be Realistic

                      Take an inventory of both your strengths and weaknesses. Are your organizational skills less than stellar? Then, becoming a wedding planner is probably not a good idea.

                      This is an area where having honest outside input can be really helpful. Most of us are not very good at accurately assessing our abilities. It’s a universal human trait to exaggerate our abilities while diminishing our weaknesses.

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                      Requesting honest feedback from friends and co-workers is a good place to start, but this is another area where a career coach can come in handy.

                      4. Consider an Ad-Vocation

                      Sometimes, making a career change all at once is just too big of a change. Issues like a severely reduced income, geography and lack of benefits can all be impediments to your career change. In those cases, you may want to start your new career as an ad-vocation.

                      An ad-vocation is a second or ad-on vocation in addition to your primary vocation. Things like a part-time job, consulting or even a side business can all be ad-vocations.

                      The benefit of having an ad-vocation is being able to build experience a reputation and contacts in the new field while maintaining all the benefits of your current job.

                      5. Update Your Skills

                      Whether it means acquiring new certifications or going back to school to get your cosmetology licence, having the right training is the foundation for a successful career change.

                      The great thing about changing careers now is that almost any training or certifications needed can be free or at very little cost online. Check with trade associations, industry websites and discussion groups for any requirements you may need.

                      Learn How to Cultivate Continuous Learning to Stay Competitive.

                      6. Start Re-Branding Yourself Now

                      Use the internet and social media to change the way you present yourself online.

                      Changing your LinkedIn profile is a good way to show prospective employers that you are serious about a career change.

                      Joining Facebook groups, trade associations and discussion boards as well as attending conventions is a great way to start building a network while you learn.

                      Here’re some Personal Branding Basics You Need to Know for Career Success.

                      7. Overhaul Your Resume

                      Most of us have heard the advice to update our resume every six months, and most of us promptly ignore that advice and only update our resume when we need it.

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                      When making a career change, updating is not enough; this calls for a complete overhaul of your resume. Chances are that your current resume was designed around your old career which may or may not apply to your new goals.

                      Crafting a new resume emphasizing your strengths for the new position your looking for is key. There are many places that will help you craft a resume online and it is a service included with most career coaching services.

                      8. Know Your Timeline

                      There are a lot of factors when it comes to how long it will take to make the career change.

                      Industry and Functional career changes tend to be the easiest to do and therefore can be accomplished in the shortest period of time. While the Double Career Change and the Entrepreneurial Career Change both require more effort and thus time.

                      There are also personal factors involved in the time it will take to switch careers.

                      Generally speaking the more you are willing to be flexible with both compensation and geography, the shorter time it will take to make the switch.

                      Final Thoughts

                      Changing careers at anytime can be stressful, but for those of us who are 50 or above, it can seem to be an overwhelming task fraught with pitfalls and self doubt.

                      Prospective employers know the benefits that come with more mature employees. Things like a wealth of experience, a proven work history and deeper understanding of corporate culture are all things that older workers bring to the table.

                      And while the younger generation may possess better computer or technical skills than us, if you’re willing to learn, there are a ton of free or nearly free resources available to you.

                      Deciding on a career change at 50 is a great way to experience life on your own terms.

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                      Featured photo credit: rawpixel via unsplash.com

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