If you are a young entrepreneur, which by the way has nothing to do with your age, but the stage of development that you are in for your business - I’d like to share with you a few thoughts that will keep your head in the game even when you feel like you spinning are out of control. Think back to your first day of high school. As a Freshman you had no clue about what you were getting into but was the right place to be and you knew you had to get through it to get on to bigger and better opportunities, right? Well, the same is the same for your first year in business. You may not have to deal with acne, the ramifications of sitting in the Senior section, getting lost on your way to class, not having enough lunch money, hating your teachers, getting bullied by an upperclassman or detention - but you will have to deal with many of the same fears of the unknown as well as true uncomfortableness from the reality of your situation - you’re new and there is nothing you can do but roll with the punches. Your Freshman year in business you will read all the books, go to all the websites, talk to as many people as you can and yet you will still get lost, feel beat up, learn lessons you had no idea were coming your way and probably spend money on things you never needed (how many school photos or url’s did you really need after all?). But like figuring out your way through the quad, getting a date for homecoming, making the JV basketball team and not getting beat up after class - you will have many high points to keep you moving forward. Revel in the joys of handing out your first business card, building a website, and getting a real paying customer. Sophomore year, things get a little better. You’re not a Freshman anymore - hooray for that. But you probably still have a few zits, may be on academic probation, are stressed because your parents just don’t get you. To top it off, now you have to figure out how to get your license and how you’re going to afford to buy a car. Better, but still a long year ahead. In your Sophomore year of business, the good things are you now have one full year of financial information to look back on, however shocking it might seem. You can proudly state that you are past the hardest year you’ve encountered so far and you know there is no dropping out in your future. You’re not concerned with looking back too much because you’re moving forward. By the time you are a Junior in school, you’re living life in the fast lane. Ok, not the fast lane, but the one next to it. You’re an upperclassman, you’ve survived two years. Right on! What could be hard about this year? Perhaps you’ve blocked out the “joys” of the SAT’s and the uncomfortable questions that got asked at every family gathering or adult conversation you had back then - what are you going to do with your life (substitute business)? Have you thought about your future? Likewise, as a Junior in business you’ve now sold things, marketed things, and definitely made some money. But the questions are similar - how are you going to grow? Where are you going to invest your money next? Who is on your team? All big questions for a big Junior. Fortunately, as a business Junior you have enough experience to know that the resources are out there, “teachers” are not the enemy and that when you raise your hand and ask the question, you will get an answer. By year four in your business, you can proudly call yourself a Senior. Ahhhh, Senior year. Smooth sailing, fewer classes, a body/face that is not tragic - but wait! As great as things were back then, and as great as they are in year four - there is no rest for the successful. Sure, you’re the big man/woman on campus. But even though you have successfully hired an employee, implemented a customer tracking system, re-branded your business identity, and have four years of P&L statements - this is really just the beginning, again. Because after you make it through year four, a significant year according to business statistics (50% of businesses fail before year four), you should definitely take a great Senior Trip to Mexico as you will need it. Next up - College. Freshman year all over again. It will never be the same as your first Freshman year but there will be many more hurdles you never expected . . . The best thing to keep in mind is that no matter how hard things may seem when starting your business, take a moment to look back on your time in high school and again in college (if you went) and remember: you did it back then and you can do it again now. Tell a friend
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