Wealth For Teens
Tips on Making Money, Investing and Personal Growth


Entrepreneurship

July 15, 2010

5 Essentials of a Successful Young Entrepreneur

business team with young entrepreneur

I firmly believe that anyone can be successful and anyone can be a successful entrepreneur, but just as in sport, there will be certain traits that makes success slightly easier, for example height in basketball.  In this post, I will list 5 of these traits that I believe will give you the edge over other budding young entrepreneurs.

Ambitious

I think ambition is one of the most important traits of an entrepreneur. The road to success is littered with many obstacles, and on many occassions it will be so tempting to just turn back and give up, and this is where the strength of your ambitions come in.  If your not ambitious enough and you don’t want success enough, when the going gets tough, it’s extremely easy to persuade ourselves that we don’t really what we are striving for, and it’s perfectly okay to quit.

Fearless

The fact is, not all of our ideas and projects will succeed, it could be due to mistakes we make, or perhaps we are just unlucky. A good entrepreneur will brush it off, learn from their mistakes and then go at it again with the same intensity.

Persistent

Good things take time, just think about growing a plant. You plant the seed, and then it grows slowly, it doesn’t happen overnight. It only takes a few days of neglect to undo weeks of care and nourishment. So a successful entrepreneurs knows how-to commit to something and keep doing it, no mater what.

Creative

Some of the best start-ups on the internet these days are from original ideas. Sure you can always plow through an existing market, but usually it is much easier and perhaps profitable finding your own. Young people are usually more creative than their older counter-parts (They haven’t been conditioned by society to NOT think and just DO, ie. Bosses).

Patient

As with persistence, a successful entrepreneur has to have patience. Not all ideas will become a success overnight, if you don’t have patience, you might accidentally give up on a great idea, just inches away from success, and you will never know!  Being young, it’s especially hard, because we will have our peers and adults constantly bombarding us with negativity, your too young, you don’t know what your doing etc etc.

Having said that, sometimes you gotta know when an idea actually leads to a dead-end and when to quit as well, I guess that’s just another trait that an entrepreneur will have.

I hope you enjoyed this post, if you have any of the above traits, then you might well be on your way to success!

Please comment if you think there are other traits that helps one become a success entrepreneur!

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About the Author

William Chen
My name is William Chen, and I'm a 22 year old Student/Businessman/Web Marketer from Australia. I have over 10 years of business experience already under my belt and have founded 2 web companies. My passion is to strive for wealth, success and the ability to make the most of my life. And in sharing my knowledge to help others, as I believe one cannot fully understand something, unless they can teach it. For my full story, read here.




 
 

 
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15 Comments


  1. [...] Read more from the original source: 5 Essentials of a Successful Young Entrepreneur | Wealth For Teens [...]


  2. [...] My name is William Chen, and I’m a 22 year old Student/Businessman/Web Marketer from Australia. I have over 10 years of business experience already under my belt and have founded 2 web companies. My passion is to strive for wealth, …Page 2 [...]


  3. The article was PERFECT! The traits you discuss are huge keys into be a successful YOUNG entrepreneur. I am 27 years old and have been working for myself for around 5 years. All the keys you pulled out about patience and persistent really stick out to me as I have seen so many people go through exactly that… letting other family and friends influence what you do with YOUR business and knowing when to duck your head and keep moving forward!
    Keep posting great info and see you at the top!!!


  4. William

    Hey Adam, thanks alot for your kind words and support!


  5. great posts, personally, im pationate about teaching young people to make educated financial decisions…thanks so much for your posts…great stuff


  6. You truly have a heads up as a young entrepreneur. Starting your own business is the way to beat the recession and for young people entering the job market, it is a smart decision to start creating their own projects rather than depending on a shaky job market. Much prosperity!


  7. William

    Thanks so much for your positive comments Rebecca! All the best to you as well!


  8. Kenny Guerrero

    A quote from the “Social Network” its better to create a job then get one”.


  9. Jackson Tames

    Hey William, loving your website, you have alot of fantastic content, and I really enjoyed this post :)


  10. Thanks William-

    People need to hear this more today. I focused on Fear. There is so much fear being sent around the world and yet it is unfounded. Too often people get paralyzed in the weight of “what if’s” and this is all an imagined future.

    Focusing on another outcome is what will bring success. It is a simple choice though it is often hard to do.

    Thanks–keep up the great work!
    Matthew Kuehlhorn recently posted..Success Clubs–Success!My ComLuv Profile


  11. Wow! What a great post. Loved it! Learned a few things too!
    Shawna Elkins recently posted..Summer Fun – $96 Hapari Gift Card GiveawayMy ComLuv Profile


  12. Donna B.

    Great article and so true not only for youn entrepeneurs but to be successful in general.


  13. Thank you for that inspiring article! I wanna be successful someday too! :)


  14. eva

    One thing that I think most people forget is that success definitely doesn’t come quickly and it takes time. :] great post!



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