It’s never too late or early to get up one day and start an online business to become the entrepreneur that you’ve always wanted to become. People are never too old or young to find success, like Moziah Bridge, who hit a whopping $150K in sales at the age of 12 to Sam Walton, who launched Wal-Mart aged 44.
Although there are no limits to entrepreneurship, I recommend that everyone in their 20s should start a business at least once, especially an online business. The world is simply brimming with too many opportunities for you to let it slip away during your most precious, healthy, and active years. Here are a few reasons why your 20s are the best time to launch an online business:
1. You have fewer commitments at this age
Let me tell you this right off the bat – not everyone who starts a business is going to become successful. New, innovative online businesses are launched day after day but only a small handful of them achieve success. In case you don’t make it in the online business world, you can always walk away without any significant financial commitments and responsibilities, unlike most adults who find themselves crippled by debt.
2. Create a business that will provide you with long-term financial security
You can build an online business to become a stable revenue source that keeps going on autopilot. As a matter of fact, there happen to be multiple online businesses, which rake in 6 figures yearly. Just imagine what you could do if you spend these years creating multiple online businesses that turn out to be reliable income sources, thus earning you money down the road without any major effort. You’ll be free to explore additional ventures and start even more businesses due to all the free time.
3. Faster maturity and personal growth
Starting a business is the quickest path to wisdom and maturity. The wonderful thing about business is that every person is equal here – An entrepreneur in their 20s experiences the very same responsibilities and risks that a 50-year-old business owner has. When you run an online business, life will teach you many lessons, all at once. By experiencing all the different aspects that life has to offer, it can help you transform into a balanced person.
4. Work wherever you want, whenever you want
A stable Internet connection is all that’s needed to operate an online business. Regardless of whether you’re in New York or Costa Rica, you will still face the very same challenges and battles that all entrepreneurs face. However, the silver lining is that you get to travel around the world without being required to tie yourself down to one location. You won’t necessarily have the same freedom later on in your life.
5. You have less financial commitment and overheads to be worried about
Before the rise of eCommerce and the Internet, people in their 20s had virtually no chances of being taken seriously at business. Property leases, credit lines, and bank loans weren’t really available to young entrepreneurs.
However, online businesses have a lower overhead compared to offline traditional stores, meaning there is no need to invest all your funds into your store. Thus, young entrepreneurs have the option of starting their business immediately after graduation without being worried about their finances.
Talk to us at Readystart and we can certainly find a great business to suit you no matter the age. Give us a call for free no obligation advice on 1300 893 487 or visit us online at https://www.readystartbusiness.com.au.