Once reserved for people who have gained much experience already, the entrepreneur industry has changed dramatically in terms of its players. More women are becoming movers and shakers at the top of the industry. Small innovative businesses based from home are gobbling up a huge chunk of the revenues, and the age of the average entrepreneur is slowly lowering. Although the median is still in the 40s, this has noticeably lowered in recent years and is seen to continue in the next few. In fact, this invasion of the younger generation of money makers is proven by the number of young entrepreneurs stories that we can read today.While it's true that there have been a significant rise in the number of young entrepreneurs stories that are gaining success in their fields, this number is mintte compared to those that tried to test the entrepreneurial waters. Statistically, a third of new businesses fail to surpass a two year existence. Add another three years, and more come crashing down. Statistics may not lie, but they can be changed.
Simply enough, businesses falter because they were not solidly built, and blame this on poor preparation. Like steel, if not strengthened with enough heat prior to using it as a building material, it is bound to bend or break when a huge force stresses it out. And for new innovative businesses, the main building material is the entrepreneur.
Without proper knowledge, skills, and experience, plus tons of preparation with research, market analysis, product development, and planning, an entrepreneur will not have the strength to withstand extreme pressures brought on by future hurdles and obstacles in his commercial enterprise.
And this has nothing to do with age. An entrepreneur can have lots of experience even if he can still be deemed as "young." Armed with a superb business sense, a young entrepreneur can have a great chance of making it in the big leagues and anyone can see this in any of the young entrepreneurs stories that abound our society presently.
You too can get all the experience you need to prepare yourself, and you can do this by reading young entrepreneurs stories. Don't just read them immerse yourself in their tales and learn from their experiences and embrace them as your own. As you discover their methods, do not forget about their mistakes too. The best lesson that experience provides is avoiding doing the same mistake twice. And if you already have knowledge of that mistake and still commit to it, then it's just like you did it again.
