Finance 301: If You’re Not Dead, You Can Start A Business

African American Woman & Girl, Mother Daughter FamilyThere are three reasons people give for not starting their own business: 1) don’t know how, 2) don’t have the money, 3) too old or too young. It’s hard to imagine after being in the workforce so many years that you could go out and start your own business. I’m here to dispel the myth that you are either too young or too old to start a business. There’s no law saying you have to be a certain age to get started. Well, if you’re under 18 you may need your parents assistance, but other than that, you’re good to go. The basic requirement to start your own business is to be alive and have an idea.

A while ago I highlighted Asia Newson as a Black Chick that Rules. At 10 years old she proclaimed herself to be Detroit’s youngest entrepreneur. She had an idea and her father’s help. Boom! Look at all of the people who started businesses that went on to garner untold success. We all know Steve Jobs and the story of Apple. Dell computers started in a garage. Who doesn’t know the story of Facebook? If you’re thinking these people started with an advantage so of course they were able to make it. Let me disabuse you of that thought. 72% of entrepreneurs come from a middle class background and 22% come from the blue collar class*.

I get it. I started my business after being in the workforce for almost two decades. I had amassed a ton of knowledge and skills, but I wasn’t using to serve myself or frankly anyone else. What skills have you developed that could be shared with the world while enriching your life and providing jobs? The one thing that I have learned about in the past few years is entrepreneurship. I read the book Secrets of the Millionaire Mind by T. Harv Eker and later became a member of Peak Potentials an organization built on educating people about their own possibilities. I had never before been exposed to this type of teaching.

Let me ask you something. When you were in school were you taught about starting your own business and making it successful? What were you taught? To get a good education and a good job and work really really hard. The reality is, you can do what you love, make money doing it and help people. Again, your age doesn’t matter. What’s your passion? What’s your dream?

If you don’t know how – there are endless amounts of resources to get you pointed in the right direction. You can set up an LLC as easily as you can open a bank account. Put together a business plan and seek out funding in the form of loans, grants and investors. Other people have started businesses. Don’t be afraid of failure. There are lessons in every failure and every lesson gets you closer to success.

If you’ve started your own business or thinking about it feel free to comment below and share this with your friends.

 

REAL TALK | REAL THINGS | REAL RESULTS

 

*The Kauffman Foundation, “The Anatomy of an Entrepreneur: Family Background and Motivation. 2009, July. 

 

 

 

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