On a global level, when we find inner peace, barriers between people are dissolved and the world no longer seems so hostile because your perception has greater insight.

Some great principles to bring into business.

ru an entrepreneur?

Pick me…I am….Pick me!!!

When most of us think of an ‘entrepreneur’ we picture high flying, high powered, business suits driving wheels n’ deals with stacks of cash in their fat, unethical wallets. And trust me, this can be the case – but not always!

Entrepreneurs are people who are ‘enterprising’ – they’re someone who sees a great new idea that could positively impact a business, the environment, or a social cause, and who are determined, daring and energetic enough to make the idea a reality.

So are you an entrepreneur? Take our quick quiz…

• you think a financial crisis or recession is just another way of saying “REALLY BIG OPPORTUNITY”
• you want independence

• you’ve created or invented something

• you’ve identified a niche or gap in a market

• you look at things differently and regularly ask ‘why’

• you have a passion for what you do & for seeing your ideas become a reality

• you want to be your own boss

• you enjoy risk taking

• you don’t know the meaning of the phrase ‘that can’t be done’

• you want to determine how you spend your time

• you want to build something from scratch

• you see economic empowerment and financial independence coming through business ownership

Ok, so if you ticked ‘most or all of the above’ then you sound like someone who could be, or already is, an
entrepreneur!

And if you’re under 35 then you are a YOUNG entrepreneur; by age anyways!
Now there’s lots of pros and cons to running your own biz – long hours, loneliness, frustration, not ‘fitting the norm’
- but if you haven’t experienced it already, the benefits of freedom, control over your destiny, self-expression, and
hard-earned achievement pay off big time.
So what next? How do you get those brilliant ideas you’ve got in your head out into the real world?

Writing a business plan is a great first step but one that can be a little overwhelming. Start by writing down your
responses to the following questions…
1. Got a name for your business or the product/service you’d like to create?
2. Describe your idea in three bullet points.
3. Who do you think will benefit most from your idea?
4. What would you like to achieve by implementing this idea?
5. Why is this idea important to you?
6. What help do you think you’ll need to make the idea happen?

You’re on your way…..check out more articles in GETTING STARTED to move forward with your business

Tips for Keeping on Track with your Goals

Got some goals you’re determined to reach?

Make a note – If you haven’t already, take time right now to write a list of your goals for this year/month. This list will remind you of your priorities and things you want to achieve – and don’t forget to be specific, the clearer your goals, the easier they are to accomplish!

The only more important thing is to make a start!

“The most important key to achieving great success is to decide upon your goal and launch, get started, take action, move.” ~ Brian Tracy

Baby steps – Next, it’s a good idea to break each goal down into manageable steps – this makes things seem a lot more achievable, and it also helps you to define a more realistic timeframe for your goals later.

So, for example, if your goal is to organise your workspace, break it down – you need to:
- clear the space,
- remove items you haven’t used recently,
- clear through drawers/trays and remove old documents…etc.
Now, you can clearly see the steps involved in achieving the goal so you have a reliable plan of action!

Easy there tiger – Getting too eager at the start of the year can be a set back. Setting too many goals at once can be distracting and overwhelming, making it difficult to achieve any one of them.

Look at your list…is it realistic for you to achieve all your goals in one year? If so, you’re in luck! If not, prioritise your goals by writing a number next to them to indicate which is: 1- most important, 2- second most important and so on. Then eliminate goals from your list that aren’t achievable this year – and keep them for next year!

“The journey of a thousand miles begins with a single step” ~ Lao Tzu

Take the time – A timeframe is important if you don’t want to find yourself postponing things this year!
Look at all the steps you’ve written down – how long is a reasonable amount of time to get them done?

Set yourself a timeframe for each step and then an overall timeframe for each goal – mark this on your calendar, diary or your mobile and try to keep as close to possible to that timeframe! Remember The Milk is a great way to keep track of this stuff online and with reminders.

Go one step further; schedule time on a weekly basis, to help you continue working on your goal amongst other commitments.
“Each of us has a fire in our hearts for something… Find it and keep it lit!” ~ Mary Lou Retton

Tell others about your goals – This is so they can keep you motivated and accountable to your goals.

A funny thing happens when you tell the world, outside of your head, something you are going for……opportunities and assistance starts to come your way. The people who you tell your goals to will help you get there, and not just in words of encouragement but also in terms of contacts, information and all sorts of other helpful stuff.

Reward yourself! – It’s hard work remaining focused all year to achieve change, maintain progress and develop yourself. So, why not reward yourself at the end?!

Here’s the fun part – go out and grab yourself a gift! Wrap it up and keep it somewhere visible, like at your workspace or on a bookshelf. As you complete a goal, give yourself a reward! OR get a picture of the thing or experience you will get once you achieve your goal – place that image where you can see it everyday to remind yourself what are you working towards.

This self encouragement will get you ready to take on your next goal!
Good luck!!

Six Great Reasons Why You Should Start Your Own Business

We hope you’ve noticed that here at The FRANK Team we’re really into entrepreneurship.

Ever since our founder, Jessica Schebesta (Kiely), started the Frank Team in 2001, we’ve been encouraging other young people to get out there and start their own businesses – and many have.

Here are our top reasons why YOU should start your own business.

Turn your hobby into your job – Get paid to do what you love

Many people have great hobbies that they love doing and are really into – but they don’t have much spare time to spend on their hobbies. Think about what you love to do, and consider whether it would be a viable business idea. Do you enjoy making earrings and necklaces in your spare time? Consider heading to markets and setting up a stall of a weekend. Do you love to take photographs, or paint? Approach retailers to see if they would be interested in purchasing any of your artworks.

Start Own Business to Fit in with Your Needs

Our lives are getting busier and busier. With school or university, part-time work or full-time work, family commitments (and leaving some time for fun of course), it can be hard to fit everything in. So why not start your own business to fit in with the needs of the rest of your life?

Lots of uni students run their own business: Jessica Schbesta’s (Kiely) first business involved organizing tutors for high school students.

Running your own business can also be great if you have a young family or need to work from home for some reason. Warning – the more successful you get, the more time your business will take!

Be Your Own Boss

Some people don’t like to be told what to do, or prefer to do things their own way. Others don’t like working nine to five, and prefer to set their own working hours. If this sounds like you, starting a business could be perfect for you.

It’s up to you when you work and what you do. There’s always going to be some stuff involved that you may not like doing though – like keeping accounting records or learning sales skills. But be warned, starting your own business does take a lot of time (and sacrifice), but YOU will be the one setting the hours and telling yourself what to do!

Can’t Find a Job that suits your interests?

Times are tighter and tougher at the moment, and perhaps that job you thought you would get straight out of uni or school is just not happening. Perhaps starting your own business is the answer.

Or find that you’re looking at all of the available jobs and thinking “If only I could … (e.g. combine my interests of ice hockey and ballet, or graphic design and sports)?” Create a business that suits and combines your interests – you’ll be far more motivated to get out of bed in the morning if you like what you do, instead of settling into a “good job” that you hate.

You’ve had a great idea in the back of your mind for a while now…

Maybe it’s time to do some research, find out if you could turn it into a viable business and go for it! Turn your dreams into your reality and make things happen for yourself! You never know where your business may take you (Paris, London, Rome, Wagga Wagga…). Do you really want to be someone who looks back at your life when you’re seventy, and wishes you’d started your own business now?

You’re Young!

Yep, it is the perfect time to be taking the risk, rolling the dice and giving a business a go for yourself. You don’t have the mortgage or kids tying you down, so give it a go now!

You are also packed with energy (we know you can party all night, and the next night again you will back up!) that will get you through the long hours involved in starting and running your own business.

Plus, you have heaps of ideas that are fresh because you look at the world with new and young eyes – this is where great ideas can come from!

6 great reason to start your own business NOW and TODAY, and you are on the perfect site to provide you with all of the inspiration and know-how you will need to make it happen.

Don’t forget to tell us all about it!!!

What can teenagers do to start their entrepreneurial journey?

Recently a parent contacting us asking all about how teens who already know they wanna be their own boss can get started. It went something like this:

“I am a 40 year old trade educated entrepreneur employing 13 people. I started my business at 30 so fit your figures perfectly. My 15 year old wants to be an entrepreneur but I find it hard to put him on the right track. I have my trade and sales background and contacts gained in my 20′s. How does a 15 year old get the experience and contacts required to make it? Where does he start? School pushes the kids to trades or uni and he doesn’t want that.”

Awesome question, and we know there is a heap of things they can be doing. So for all of you teenpreneurs out there, get started with these ideas……

Use The Frank Team

The Frank Team has a heap of resources and opportunities for young entrepreneurs of all ages including teenagers.

o Our Young Entrepreneurs Membership program is perfect for teenagers just starting out. Regular newsletters, events & workshops to attend are all part of the program.

o The Break it Down cards are Frank Team’s business planning tools specific for young entrepreneurs. We have been using them for years in our workshops with young people around Australia and you can have your own set.

o Of course this Young Entrepreneurs website is packed with heaps of info to inspire & develop young entrepreneurs from 15 to 35, so start exploring. We always keep the info useful, simple and frank!

o Sign up to our Events list to be kept up to date with our events for young entrepreneurs that we run regularly. This will give you a chance to meet other young people just like yourself. You will learn from others and get inspired.

o Sign up for IGNITE, our monthly newsletter, that is packed with up to date information about programs and opportunities for young entrepreneurs. Everything from award programs, to training & volunteering opportunities.

Entrepreneurial Work experience & Internships

- Identify some awesome entrepreneurs that you would love to learn from (young and old) near you through some online searching, or by contacting us here at The Frank Team.

- Contact these entrepreneurs directly and ask to do some work experience with them. Offer yourself for free for 1 – 4 weeks, or for a few days a week over 6 months. Get the opportunity to hang around the entrepreneurs and learn from them. They will be impressed with your initiative and will love having you.

Young Achievers Australia Programs

- Find out if your school, college or university is running the Young Achievers program. This is a course that puts young people together in teams who have to set up & run a business. It gives you amazing experience and exposure to entrepreneurial issues that are real!

Networking

- Start going to networking events that are close to you. Networking will mean that you start meeting people and creating contacts, you will learn heaps from how professional people conduct themselves at these events, and get to hear from some great speakers.

What is a networking event? It is where business and professional people come together to meet and network (connect and learn about each other).

- Age doesn’t matter at these events! Yea you may stand out as the youngest person there, but that is great as you will have people naturally coming up to you!

- The Frank Team has ongoing networking events for young entrepreneurs in NSW.

- Check out your local Business Enterprise Centre and also through your state government’s business portal for upcoming events. Here is NSW

Read biographies/autobiographies of entrepreneurs

- There are many highly successful entrepreneurs who have been there and done that and then written all about it! Get your hands on some biographies and autobiographies of entrepreneurs and soak up the learning. You will learn all about the highs and lows of making it on an entrepreneurial journey.

- And if you are not a book reader then just start searching online. There are a heap of stories about successful entrepreneurs online, some of them even have interviews with them (audio & video). This will provide knowledge and inspiration. Just think of a company that you admire, then look for the story of the peeps who started that company – you will be amazed and surprised. The google story, ebay, Apple, Harvey Norman, The Body Shop, Sass and Bide…….the list goes on and on!

- A personal favourite of mine is “Loosing My Virginity” by Richard Branson.

Formal Learning

- Doing some formal learning is advisable, but it doesn’t necessarily have to be at university. A business start up course, a marketing and sales program, online learning in search engine optimisation or a TAFE course in financial management are all a great start and heaps quicker than uni! Plus you can do them at the same time as starting and running your own business. Uni courses may be required if technical skills are needed for the business you want to be in.

- Go with topics you are interested in and you enjoy.

Volunteering

- Experience working in any type of team environment and for all sorts of organisations is highly valuable when you then start your own. And you can get this experience for free, while working on real stuff; you do this through volunteering. You can do anything from project management, to marketing to finance and treasury for organisations that need the help and do some awesome stuff in the world. I learnt heaps as a volunteer on my local councils’ youth committee where we organised all sorts of events with budgets of $20,000, it was awesome.

- Some great places to start to find great volunteering experiences:

o IGNITE
o Oaktree Foundation
o Volunteering Australia
o Conservation Volunteers
o Australia and International opportunities

Just Start a Business!

- There is no better way to learn about being entrepreneurial and starting a business than starting a business. Even if it is just small and in your local area, you will learn heaps! Anything from dog walking, tutoring, fixing computer problems, helping with clean ups around houses are all good and easy businesses to start.

- To learn more about Starting Up your own business see our series of articles in “Getting Started”

Let us know if you are a teen running your own business already and tell us what your advice would be to other teenpreneurs. Email us

If you want to learn more about the steps to starting up your own business then The Frank Team has the prefect tools for you. Our Break it Down cards make starting up your business easy, fun and totally practical.

Starting up in business as a young person can be lonely and tough at times. Come and meet other young entrepreneurs just like you and share ideas and stories with the Frank Team’s Young entrepreneurs membership program.

An introduction to networking

Networking can be difficult when you are just starting out in business; and can be even harder if you’re young – especially if you have little or no experience of dealing with people in a business context, or with people outside your regular social circle. It’s important, however, not to be daunted, as networking is essential for your business success.

Networking is about expanding your circle of professional peeps to include people from a diverse range of fields. Essentially, it’s about meeting people, and meeting people can do a variety of things for your business! Networking can result in finding new staff or contractors; learning of new opportunities, services or market openings; forming a strategic partnership that could result in cost-cutting or more profit for your business; meeting prospective clients; and making new friends.

The best way to start is to think of what kind of networking you are interested in doing. There are so many opportunities out there that it’s often best to get your feet wet by first sorting out what kind of environment you really want to put yourself in. Perhaps you are a young business woman and would prefer to deal with other business women at this stage? Or perhaps you would rather network with people within your specific industry, for example, retail. Or perhaps you are interested in meeting only other young entrepreneurs at this stage?

Once you have selected what opportunities you’d like to explore, then start searching for networking events and groups. Events are usually advertised on websites, in local papers, or contact your local Chamber of Commerce. For more permanent group membership, join your Chamber of Commerce; a social/communication organisation (Rotaract, Zonta, BPW) or the industry or professional association do to with your business.

The Frank Team run networking events specifically for young entrepreneurs – so come along and hang out with people just like you! Check out the members section.

Once you’ve experienced a few events or sessions, you’ll start to hear of others ‘through the network’. It’s also important not to dismiss networking opportunities as irrelevant to your business – you need to remember that whilst not every event will be beneficial, you are never just meeting the people at the event – you are meeting their entire of network of contacts too!

Tips

* Practice your introduction and your 30 second sales pitch of what your business does
* Always take your business card, a pen and your diary. If you don’t have a card – make one!
* Be early to the function, to maximize networking time
* If you go with business partner – split up for the event – and make 2 sets of contacts!
* Remember the personal details of people you meet. One idea is to write a few facts about the person on the back of their card. When you meet them again, use those points for conversation (eg. Sheila grew up in the Hunter Valley. She is in business with her best friend Tammy. She is doing a degree in Design).
* Help people out. If you have no valuable service or product to offer the person you meet, tell them about someone else you know who does. Give out these favours and they will come back to you! Referrals are the language of the networking world!
* Ask open questions, ones that can’t be answered with a simple ‘Yes’ or ‘No’. Who, what, When, Why & How are great openers for questions to start conversation.
* Don’t be afraid to start a conversation – you have nothing to lose! Find someone else standing alone and say “hi”
* Really listen to the person rather than waiting for your turn to speak. That way you can immediately pick up on common links with the person and their business, if any.
* Use current affairs as conversation starters, “Terrible bush fires today, aren’t there?”

What is a Young Entrepreneur?

I was at a networking event recently, and whilst chatting to someone about the work that The FRANK Team does with young entrepreneurs, I was asked ‘What exactly is a young entrepreneur?’ So many ways in which we classify a ‘young entrepreneur’ immediately sprang to mind – age, mindset, action, personality, experience. So I thought I’d sit down and really think about what it is to be a young entrepreneur.

And then this email came through….

“Hi Frank Team!
I receive all of your newsletters including Ignite, and I just wanted to drop by a real positive comment and tell you how much it has helped and influenced me!
Because of the thought-provoking and inspiring nature of the magazine, I began my own business about 7 months ago at the age of 16! I’m an hsc student now, managing my own local dance school called “Inspire”. I aim to provide a safe, fun and non-competitive environment where children can freely express themselves without being exposed to inappropriate choices of music and ways of moving. My passion and love for dance as an art form is now being passed on, and I just want to thank you for the inspiration, encouragement and guidance that I find in your newsletters!
Managing a business has been an incredible and eye opening experience, so much so that “Inspire” has already received a finalist award in the 30 Under 30 Australian Entrepreneurial Awards!
So here is just to encourage and to thank the Frank Team! I’m so excited to see a build up of strong passionate youth across Australia come together through endeavours like this!
Regards,
Jemma Nicoll”
So who are these young entrepreneurs apart from Jemma?
Firstly it’s important to understand the current career/job/business climate. When today’s career statistics show individuals are expected to have 29 jobs, in five different industries, and be made redundant three times, it pays to have skills that will help you deal with anything that life throws at you. Also, the concept of a job for life is no longer relevant. In this environment, it takes a certain type of person to succeed. This is where entrepreneurs really stand out and where starting your own business can be a very attractive option.
This may help to explain why large numbers of young people are starting their own businesses and carving out an entrepreneurial career path for themselves very early. On last count (2003 FaCS Survey) there were approximately 170,000 young Australians under the age of 30 running their own business. That is quite a lot when you consider that it is a very different career path to take at such an early age when you often have little to no experience and hardly any start up capital.
So who are these young entrepreneurs, or ytreps as we like to call them? What does it mean to be a young entrepreneur? And are you one?
Let’s start with what it means to be a young entrepreneur. Definitions vary, even between countries.
But generally…..
• Are you 35 years of age or under?
• Do you currently run your own business or not for profit organisation either full time, part time or just on the side?
• Are you actively growing your business?
• Have you taken our YTREP SnapShot audit (see below) and come out rating in the 1’s and 2’s in all of those attitude areas?
• Then guess what – you are a young entrepreneur! Yes, even if you are 15 years old and running your own business!
Some countries and organisations say their young entrepreneurs are those aged 40 and under. And others still say young entrepreneurs are those that are young in business, as in only just starting their first business and so it has nothing to do with age. You decide!
Entrepreneurs, no matter what age, come in many different shapes and sizes. Your straight entrepreneur is involved in all sorts of business industries, but generally has the traditional profit-maximisation model at their heart. Social entrepreneurs are those who take on the attitude and model of an entrepreneur, but their businesses or organisations have a social focus. They have usually identified a social problem and created a solution for that, and are applying entrepreneurial traits and models in bringing that solution to the market. Social entrepreneurs sometimes run not for profit organisations, and others do not. Some examples are Anita Roddick who started The Body Shop, Hugh Evans who started the Oaktree Foundation here in Australia and myself, Jessica Schebesta (Kiely), who started The Frank Team. Eco-entrepreneurs are entrepreneurs with a business that has an environmental focus. They have identified a key environmental problem and created a solution for the market that is environmentally friendly. Generally also their internal business is run very environmentally friendly. A great example of an eco-entrepreneur is Ian Kiernan who began Clean Up Australia and now Clean Up the World.
You will find young entrepreneurs in each of those areas in Australia and the world – business entrepreneurs, social entrepreneurs and eco-entrepreneurs. They are amazing young people who have been inspired by an idea and have a desire to give it a go themselves despite the challenges of age, experience, resources and self belief.
As a social entrepreneur myself, and having met some awesome and highly successful entrepreneurs over the years it is clear there are some personal attributes and skills that spell success for young entrepreneurs. Get these right and success is yours!
Firstly, young entrepreneurs are packed full of energy. You can feel it coming out of every pore in their body and every word. Their youthful zest for life is being channelled into their business ideas and you can tell they love it. Very often young entrepreneurs have got their business idea through their hobbies like fashion, sports or lifestyle stuff. So they love what it is the business is selling but also love the business side of it as well, as it is allowing them to make money from their hobby and passions. This energy is contagious and people want to be around it and so they often find it easy to attract people to them. So often I would have people say to me, “Where do you get your energy from?” and I would say, “Not sure, guess I enjoy what I do,” but would also be puzzled as I thought this boundless energy that I seemed to have was just normal and what everyone was feeling. But no, up to 60% of people are disengaged at work and not enjoying themselves. So why wouldn’t you leave and just do your own thing?!
An entrepreneur creates their own opportunities – no one hands you your dream job or dream business, or points out that great opportunity that would be perfect for you. Entrepreneurs make it happen themselves, realising that otherwise it won’t happen at all. An entrepreneur uses their skills and experience to turn ideas into reality and aren’t afraid to keep trying against the odds. And for young entrepreneurs the odds can be quite high. They are up against a market and people with a lot more experience and with a lot more resources. However, in my experience young entrepreneurs are very smart at overcoming these two areas. They surround themselves with people they can rely on for advice, they read heaps and are happy to get up and brush themselves off if they stumble. The lack of resources only forces them to be even more entrepreneurial to still make their ideas happen; and they do with great success.
Think about this little test. How many uses does a toilet roll have? Most people would say something to hold the toilet paper. Entrepreneurs and especially young entrepreneurs could easily come up with 100+ ideas on what that toilet roll could be used for. How many can you think of?
Entrepreneurs are great networkers and know how to utilise their networks. Networking is also a great way to create opportunities. You can go along to a networking event to meet like-minded people, learn from their experience and be inspired by them. Remember when you meet new people, you also meet their contact book. Successful entrepreneurs always look for ways to help by sharing their experience or an idea. Networking can be an uncomfortable process, however if you approach it with the right mindset and a willingness to give – as well as receive – your chances of success will increase.
Young entrepreneurs particularly are very good at activating their social networks to help them in business, especially when they are first starting. They will use all of the online networking tools from Facebook to MySpace to spread the word. Their friends are often among their first customers. They use the university or school networks to build profile and publicity. But also for young entrepreneurs by right of their age they love to be out and meeting new people, it is that party time. And this is ripe ground for building a business and spreading the word. This combined social and professional element is something very unique to young entrepreneurs where work is life and life is work and all of it is fun! My business in particular has always revolved around young people as well as being young myself, and so anytime I would go to networking or conference type things for business it was always with other young people and so it was a big party time; and I could have the wonderful excuse that I was “working”.
Entrepreneurs, young and old, are always on the look-out for new and useful information. They are like sponges. They join blogs, e-groups and e-newsletters on topics that interest them. They find mentors and learn from their mistakes and successes. They run new ideas past mentors and develop great friendships in the process. They constantly read inspiring books, such as autobiographies of successful people. The more inspired you are, the more inspiring you will be when it comes time to turn your ideas into action. As young entrepreneurs we have grown up with the internet and so endless information and contacts are at our fingertips and we love to take advantage of that. I don’t know about you but I have a wall and many books full of inspiring quotes, snippets from magazines and newspapers, heaps of business books on my shelves and about 5 books on my bedside table that I am in the middle of reading that are a mixture of business and self development. I would say that is pretty typical of your ambitious young entrepreneur!
Young entrepreneurs take advantage of, in a good way of course, their youth when asking for help. As they are often viewed as inexperienced it is often a lot easier to ask for help and receive it quite often for free, whether this is through mentors or other means. There are so many highly successful business people out there who love sharing their knowledge and tips with young people, you just need to find them and ask them.
Entrepreneurs aren’t afraid of hard work – and many even welcome it. When running your own business, work does not necessarily stop at 5pm on the dot so you can go home and watch the evening news. Long hours and working weekends are common, so decide what you want from your business and what you are willing to put into it. Again, this is because as young entrepreneurs love what they do as it often stems from a hobby. As a result, these long hours never phase them, particularly at the beginning of the journey. Your youth generally means you are at that time in life when there is no wife/husband, kids, mortgage etc and so your hours are your hours. You have just started this business that is like your baby – it is all yours and you are creating it; and so of course you don’t even notice the hours passing. I know many young entrepreneurs who have missed many a uni lecture or tut because they were working on their business. And when your tertiary studies seem so far removed from anything remotely real, practical and useful the idea of spending those hours on your business that will be generating you income and building your career right now, which one would you choose?!
An entrepreneur isn’t afraid of self-promotion. In fact, some love to self-promote. This is a concept we at The Frank team call ‘Me Inc’, or seeing yourself as a brand. Think of the last time you bought breakfast cereal. How did you choose your cereal? Which attributes did you consider – packaging, name, description, features, benefits, appearance? Think about you as a brand – how do you look? What are your added features? What are your skills, experience and benefits? How are you going to successfully compete in your particular category? What are the words you would use to describe yourself and your business? Try using these things to develop a short, sharp positioning statement that you can use to promote yourself and your business. If you really believe in what you are working towards, you will find it much easier to promote yourself and your cause. Successful young entrepreneurs can also often use their youth as a publicity focus, and do so. We as humans love to hear stories of people who are really attacking life and making the most of it, it inspires us. And we seem to particularly like it when that person is young. I remember the first time I was asked to “tell my story” to a group of successful business women. I was running my first business at the time and I was about 21 years old. The women loved the story and raved about it to me and others. For me the lightbulb went on and I then offered to “tell my story” to other business groups and this helped me to spread the word about me and my business which led to other great opportunities.
Entrepreneurs are constantly learning and expanding their horizons. This doesn’t necessarily mean a university degree, but may involve attending a seminar, doing some volunteer work with a charity or community group, seeking out work experience with an organisation that interests you, or reading your idol’s autobiography. The contacts and experience you gain more than make up for your time and you can make a difference to others even while learning. As young entrepreneurs are so adept with technology and the internet, these types of opportunities abound on and offline for them, and they love to take advantage of them.
As we know entrepreneurs aren’t afraid to take risks. They aren’t afraid of setting what we call BHAGs – Big Hairy Audacious Goals that inspire and challenge them. They set goals that they don’t necessarily know how to achieve, then work out how to achieve them afterwards. I learnt this tip very early on from my father who said to me one day “you just say yes, and then work out how to do it afterwards.” This has worked wonders in my business and is an underlying business strategy I continue to use to this day. This is important for young entrepreneurs who are just setting out and they don’t have much experience or past history to call on. Of course when saying “yes” you really do need to be able to back it up, but entrepreneurs back their ability and so the “yes” often comes naturally and is often then followed by “and this is how much it will cost you!”

Entrepreneurs are can-do people – they don’t give up when things get tough, they get going. An entrepreneur isn’t afraid of failure. Failure is a part of life and something we will all experience. The secret is to learn from your mistakes and failures. This is again where young entrepreneurs often have an advantage in that they are not risking much. There is no marriage or mortgage on the line most of the time, all they are risking is perhaps some savings and the use of their time. It is the perfect time in life to be risking things, failing a few times and learning from it to do it better and smarter and more successful each time.
Like most entrepreneurs, young entrepreneurs are happy to bend rules just a little. That cheekiness and desire to do things differently is what pushes their success. We need people to re-look at things, problems, issues differently all of the time to constantly be coming up with new smarter ways of solving them, otherwise it will always just be “the way it is” and how boring is that!
Try a new sport. It’s a great way to test yourself on a number of levels: how you work in a team environment, what capabilities you possess and those that you would like to possess, how you respond to challenges, how you operate under pressure, whether you play fair or dirty and how you respond in a competitive environment? Your level of competitiveness is often indicative of your conscious and subconscious goals and attitudes. Sports don’t have to be physical either – try playing chess or debating.
Looking for ways to constantly improve things is another key attribute of an entrepreneur. “How can I do this better?” becomes more a mindset than a question and relates to all aspects of life. Entrepreneurs think outside the box, looking for creative solutions and improvements. When running your own business the challenge is to come up with new and innovative ways to solve problems and view these problems not as a hindrance, but a challenge. Young entrepreneurs thrive in this environment as they often have less pre-conceived ideas and judgements that cloud or dampen creativity – they just go for it. This means they also like to be able to try new things and change things regularly. Don’t work for a young entrepreneur if you like regular order and don’t like to change things often. They will be changing the strategy and ideas and ways of doing things every day!
Young entrepreneurs are also usually highly adept at using technology in their business – you have to be these days. They are happy and hungry to explore how technology can help them and their business to boom. Anything from blogs, to open source software, to wikis and shared docs are all used from day one to enhance the business internally and externally, and to keep costs low. If you are scared of technology and learning new stuff, then move over and get someone is who can do this in your new business. Plus a good majority – there are no statistics yet – of young entrepreneurs are starting online businesses or have technology of some sort as the key product or service in their business. Having grown up with it, they are now working out how to make money from it and their experience with it.
Above all else, entrepreneurs have passion and vision. They know where they want to go – in business and in life – and set goals to help them on their journey. Some entrepreneurs set out to make money, others want to make a difference to the world around them, and of course, some want to do both! A large part of understanding where you want to go, is understanding where you have come from. Look back at your life and consider the major things that happened, both positive and negative. Think about what you enjoyed doing most and find out more about these things. Finally, ask yourself ‘in an ideal world, what would you be doing?’ and act on the answer. Because entrepreneurs ACT straight away.
Here at The Frank Team we go into schools, universities and other organisations and encourage young people to start their own businesses. We love the energy and creation that young entrepreneurs bring to the world, and we look to do all we can to encourage and support them, as well as igniting the fire in the next generation of young entrepreneurs.
So, go forth and be young entrepreneurs. And of course, contact us and tell us all about your business. We love to profile young entrepreneurs through our resources and blogs!

And now….take your YTREP SnapShot.
A quick audit of yourself and your entrepreneurial attitudes: YTREP SnapShot
Rate yourself in each area according to this scale:
1: That is totally me!
2: That is kinda me
3: Not sure yet
4: That is not really me
5: That is not me at all
ATTITUDE 1 2 3 4 5
Passionate
High Energy
Self Confident
Persistent
Determined
Tough
Hardworking
Creative & can see things differently
Visionary & can think big
Learn from mistakes
Curious & enjoys questioning things
Ambitious & likes to succeed
Enjoys competition
Loves to learn new things
Takes action towards goals
Flexible & willing to change
Think that failure is okay
Courageous
Takes calculates risks
Good at negotiating and persuading people
Honest
Enjoy the idea of being your own boss
Aware of my own strengths & weaknesses
Able to inspire & energise others
Takes responsibility for my actions
Always striving to do things better & smarter
Have inspiring quotes, pics & notes stuck on your wall

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