A young and broke Millenial entrepreneur’s Guide to starting a business

As 2015 comes to a close, entrepreneurial millennials are trying to find ways to bring their next business ideas to life in the new year. However, with the cost of education and student loan interest rates at an all-time high, many of these achievers are finding it hard to get started.

While it’s undeniable that some seed money is often needed in a new venture, the technological age has opened-up many doors for those on a budget.

Through my years as a business consultant, I have discovered a few tips and tricks that can help even the most low-budget businessmen (and women) get started!

  • Ask for help

This one seems like a no-brainer, right? Wrong. Many young entrepreneurs are afraid to ask for help – from family members, colleagues, teachers, or even strangers. Asking for help can be difficult: one never wants to come across as needy or unsure. However, every success was created with favors, and almost everyone is keen to pay it forward. Remember, help doesn’t have to be financial. It can also come in the form of education, emotional support and advice.

  • You’re a better programmer than you think

It’s practically impossible to start a business today without having a website and even some sort of app. However, you don’t need to hire a team of programmers to do this for you! There are a plethora of very cheap (or even free) services that can help! WordPress is a very popular tools for building websites. However, specific customization can get complicated. More specialized add-ons like Formidable Pro2PDF can take your site from looking homemade, to looking like a million bucks! This plugin turned out to be one of the greatest tools available to me when building my brand.

  • Cowork

Office spaces can be expensive. However coworking spaces have popped up in many major cities. Buildings like WeWork or WorkHaus allow young entrepreneurs to work in spaces that suit their needs and budgets – you can rent a private office, or just a desk for a few hours a month. However, the real value in coworking spaces lies in the incredible networking opportunities that will present themselves.

  • Network, network, network!

Speaking of networking, don’t forget to do it! Running a business is no small task, and even when you aren’t working, you should be at events meeting new people. Websites like Meetup connect like-minded people at networking events around the country. With these events, you will have countless clients, partner, and investors right at your fingertips.

  • Don’t Delay

The biggest obstacle I encounter with my clients is the inability to actually launch their ventures. They let anxiety overwhelm them. They think wonder if perhaps they need another degree, or more money, or better ideas before launching. While it’s important to be prepared, these fears keep many people from getting their businesses off the ground. It’s important to remember that you’ll never know everything you need to know, you simply have to be prepared to keep learning.


Author Bio

Author: Jonathan Bernsen

After graduating school from one of Canada’s premier business institutions in 2008, Jonathan Bernsen and his friends embarked on a whopping eight business ventures. While seven of them didn’t take off, a grocery delivery app garnered some attention and was eventually bought by a competitor. These days, Bernsen uses his experiences to help other startups thrive.

Related Posts