Becoming an entrepreneur is an ideal choice for youth

Becoming an entrepreneur is an ideal choice, not just for the middle-aged, but also for the youth. The conventional wisdom in the past has dictated that it is better to work for a few years at the beginning of the career, gain some exposure, and then if it feels conducive, then jump on the bandwagon of entrepreneurship.

However, nowadays the perspective is greatly challenged and youth are entering and thriving in the space of entrepreneurship even without any substantive prior exposure.

Contrary to the general belief that emphasizes a prior foundation of training, entrepreneurship is a self-learning experience. The more you practice, the better you learn. Mostly, that's how this game is played. This also means that the early you enter the space and start gaining experience, the better are the odds in your favor. Moreover, when you are young, your passion level is elevated and the risk appetite is high. Both of these characteristics are highly desirable in the pursuit of running your venture. People in their 20s might not be as experienced as the ones in their 40s, but their level of motivation will always give them an edge and make them ideal candidates in the game of entrepreneurship.

Overall development

As someone who has donned both hats, entrepreneurship teaches far more valuable lessons and contributes towards overall development than a 9-5 job. A job can help you learn more about specific skills, but wearing the entrepreneurial hat early in your career can teach you innumerable skills. From hard skills such as financial planning, growth & strategy formation, accounting, customer acquisition, etc. to soft skills such as team management, negotiation, and team motivation, etc. The benefits are countless.

Become a value creator

If youth increasingly embrace entrepreneurship, they will create more value for society as well the economy. Research suggests that running your business can create 10X more value than doing a job.

Not only will they create more jobs but also business opportunities for their peers, thereby enriching the entire ecosystem. The positive impacts will reverberate across the economy and will augment it significantly.

Seeing someone doing their own business is also inspiring and can motivate others to pursue their dream and thereby creating an extensive chain of positive impressions and far-reaching value creation.

Pursue your dreams

The very essence of human life is to lead a meaningful & contended living. Personally, I believe that if you really wish to do something of your own, then please go ahead and do it. Pursuing your dreams and working on your passion is not just jargon but is highly required. They can be the foundation for increased happiness, self-worthiness, and meaningful living. That does not mean you are supposed to be an entrepreneur to live a happy & meaningful life and failing to do so can compromise your self-worth. However, if there is something inside that you truly want to pursue then do not wait for the right moment. Take the plunge and have faith. It will either work out in your favour or teach you a lot that could be eventually channelized towards other career options.

(The author is the Director, Rosemoore)