Learn how to develop websites and createvisual media.
The more you can learnabout social media, website development,video production, and Web marketing, theeasier it’ll be for you to get your new startupo
the ground no matter what you end uplaunching. The best entrepreneurs I knoware good communicators who have a way of capturing the imagination. The good newsis a lot of this education you can receive forfree on the Web.2.
Learn how to sell.
Some of the mostsuccessful entrepreneurs I know started insales. Personally, I started selling ad space innewspapers at the age of 16. Over time, youstart to develop a sensitivity to whatcustomers need. Sales is more aboutlistening and observing than about talkingand persuading others. It’s also aboutdiscovering an authentic personality thatconnects with others with its sincerity andcompassion. And in the end, you’ll make thesale because you’re delivering value: you’reeither a) saving customers time, b) helpingthem save money money, c) helping themmake money, or d) create somethingmeaningful (e.g., an identity, a memory,relationships, etc.).3.
Be honest with yourself and “start whereyou are.”
There’s nothing wrong withdreaming big!
But there is also such a thingwith being completely out of touch withreality.
You’ll learn that you’re more likely tolaunch a company that can make you anextra few thousand dollars a month thanyou are likely to launch the next billiondollar corporation by the age 25. Never losesight of the statistics, the competition, andknow the odds before diving into a newventure. And know that those odds changebased on your experience, access to capital,the resources you have available, and yoursupport network as well as your team. Thereare always reasons why the exceptions arethe exceptions. Never lose faith that youcan be one of them and be honest withyourself about what you really want.4.
rst. Get experience. Createa company later.
Let’s be honest. Unlessyou have parents, friends, or relatives willingto help invest in your ideas, then raisingcapital for your
rst startup is going to behard. Investors don’t invest in ideas; theyinvest in teams with track records. Andbanks only invest to those who have cash
ow and equity. (And yes, lately we’reseeing more micro-
nancing opportunitiesonline which can make it easier to raisemoney.) So, I’ll share with you a secret togetting the money you need to launch yourcompany. It works 100% of the time,requires no paperwork, and you won’t bepaying interest or giving up control of yourcompany. It’s called self-
nancing! But,earning a lot money of course can be achallenge. There are four ways essentially todevelop a positive net worth and chancesare you’ll be doing one or more of thesethings
rst before launching your
rstcompany:•Inherit money (or win the lottery).•Invest in stocks (which I did for yearsthus allowing me to get my
the ground).•Work at a job, live on little, save.•Sell something and earn commissions.(Passive residual income is the best.)5.
Your relationships will shape yourdestiny.
My grandmother used to tell me, “if you want to be smart, make smart friends.”
Top Ten Tips for Entrepreneurial Success from Alex Lavidge - Empowered Teen Entrepreneurship Camp - July 30, 2012