What does it mean to be a young entrepreneur?
If we had to give a definition we could write that an entrepreneur is a person who has his own business. However, this sentence flattens the characteristics and spirit that draw the portrait of the entrepreneurial figure.
The young entrepreneur, apart from placing himself in a limited age range, often possesses the qualities that determine his success. Or rather able to push him to get up even if the first attempts prove unsuccessful or not up to the brilliant intuition. There is room to learn and grow from the wrong steps if you are persevering, motivated, stubborn, and flexible at the same time.
So it’s just a matter of receiving the right benefits? Of course not. The young entrepreneur implements his creative and innovative vision and is not hungry for easy money, but aims to develop a winning system, a sustainable and solid business model.
He has to consider taking risks, he is animated by the impulse to build the nascent business, the startup with his own hands and skills.
In other words, he has the desire and the ability to get involved even before choosing adequate training that includes web and social media, such as a course in digital marketing.
Young entrepreneur: how to be successful
It must be clarified that before any economic and financial support, before taking action to learn about the contributions and funding of youth entrepreneurship, it is essential to outline the mentality of the young entrepreneur.
Having clearly in mind one’s goal to be achieved, investing in training by choosing the right school for entrepreneurs to be able to structure the valid foundations for attributing the winning character to the business idea.
After all, aren’t we like this in everyday life too? Don’t we want to be aware masters and have the direction of what happens to the projects we care about? Learn from a young entrepreneur’s digital journey to success.
Another suggestion I can make is to consider the franchise industry. Franchising offers a number of advantages to young entrepreneurs, including access to a proven business model, ongoing support from a franchisor, and the ability to leverage an established brand.
These benefits can help young entrepreneurs overcome the challenges of starting their own business, such as limited experience, lack of capital, and difficulty accessing customers. To learn more about how franchising can help you achieve your entrepreneurial goals, and turn your dreams into reality, see the page white collar franchise process.
Selling the idea online
A young entrepreneur who wants to establish himself cannot be satisfied with having good inspiration. This is not enough to make the entrepreneurial dream come true.
You need to become professional, know how to “sell your idea” and not just be pervaded by it.
What does this mean? Becoming good means embracing online as the high road. Take advantage and exploit all the opportunities that the internet provides and make it the workhorse of the new business.
For what reason? Simply because this is where the hottest business is moving, the new profitable businesses are online. It is on social channels and on the web that people are getting more and more used to spending their time and making decisions, including those aimed at purchasing.
Quantity and quality of digital knowledge
Another aspect that outlines the young entrepreneur destined to grow up to achieve success is his openness towards digital. It can be said that the rise and success of the company are directly proportional to the quantity, but above all to the quality of knowledge in online marketing. The latter is the engine that drives any company or startup.
As we mentioned before, it is necessary to “know-how”, not only to develop a possible development and outline the strategy. No one will take care of your project as much as you do and to have control over it you need to be aware of what is happening among competitors, in the relevant market, how consumers move on the web, and how to satisfy needs. You need to be able to read data and be able to communicate persuasively and effectively for social media and search engines.
How does a young entrepreneur acquire these skills?
A strategic vision is born as the result of a learning path. If you don’t know how to operate, you haven’t implemented it by measuring its effects, you will never be truly aware of the effects generated. That’s why there is no success without adequate experience, which you can achieve by putting it into practice.
What a young entrepreneur needs to know
Let’s get to the point and try to understand what is useful to the young entrepreneur: beyond the specific characteristics of the individual business, there are some common elements that a “fresh” entrepreneur should know how to master and which together enrich the digital culture of those who are still “budding” facing the entrepreneurial market.
If you are a student who is finishing his studies and wondering what to do after graduation, I invite you to read our article with all the possibilities to follow.
Use the online
We have already stressed it, but we reiterate it in large letters: KNOW HOW TO USE ONLINE! But what does it mean?
Building online visibility, a presence. You may have let yourself be intrigued by a brand, a service, an advertisement, a message well, raise your hand if you haven’t looked for references on the net. Anyone who hasn’t turned to Google by typing the letters that make up the keyword, the search string to find out more.
The same practice is also common on social networks and so if nothing is convincing what effect is generated in the head? Maybe it’s better to rely on others. This is the most common reaction. Communicating digitally brings tangible benefits to awareness, to sales, but it is necessary to acquire knowledge and know how to juggle with online tools.
So scroll through this checklist and evaluate your preparation on these necessary and fundamental points for the start and progress of the new business.
- Identification of Buyer Personas;
- Online competitor analysis;
- Creating SEO-optimized websites (or apps);
- Social media management (storytelling and adv campaigns);
- Analysis with Google Analytics and insights into social platforms;
- Construction of “talking” Landing pages ;
- Use of email marketing software and organization of contact lists;
- Lead generation and inbound marketing;
- Digital PR mechanisms;
- SEM campaigns;
- Social selling;
- Content marketing;
- Familiarity with visual and user experience;
- Affiliate marketing;
- Customer Relationship Management (CRM) software.
Take the free test and find out how much you know about digital marketing
Study the business model
What does a young entrepreneur do in the common imagination in the planning phase? He studies a business plan and practices simulations of hypothetical predictive scenarios. It fantasizes about uncertain situations that maybe won’t happen and focuses on the development of the technology, of the application.
The task that the young entrepreneur must take care of is to define, decide and evolve a business model for the new company or start-up. Discover how AI can influence your business model as an entrepreneur in our AI entrepreneurship guide.
Ever heard of the business model canvas? It is a framework useful in the design phase, it has high strategic power. We draw on the definition of its founder Alexander Osterwalder:
“The Business Model Canvas allows you to visually represent how a company creates, delivers, and captures value for its customers.”
In a nutshell, this tool allows you to think about a startup in the embryonic moment of planning. A new business that still cannot draw on its statistics.
This graphic template is extremely interactive and dynamic and allows those who work on the business design of the startup to discuss and interact by adding, removing, and modifying the synthesis of their ideas. It stimulates co-participation in respect of the common objectives to be met for a new successful business:
- retention, customer loyalty;
- revenue, how to monetize;
- scalability, and increase in users.
Elements are favorable to healthy starting conditions, which are based on a need recognized by the audience, not on a “fashion” of the moment.
Understand the behaviors of people online
Even if young, an entrepreneur needs to know how to read the behavior and habits of people who surf online.
Without possessing elaborate notions of psychology, the young entrepreneur needs to understand how users interface with the internet. This will allow him to intercept questions, anticipate needs, cultivate a relationship, nurture leads, and create a sales funnel.
If we stop for a moment to think about ourselves, the different cases that lead us to turn to the web easily appear. Sometimes the trigger is informational, other times it is transactional, purchasing.
But, we certainly cannot neglect all the time we spend on social media for simple entertainment, watching TV series or videos on Youtube, chatting with friends on Facebook or Whatsapp, doing personal branding, updating Linkedin, discovering new trends, taking inspiration perhaps from Pinterest or Instagram, listen to podcasts or interact with your professional network on Telegram.
By downloading the free eBook you can identify the best business ideas and successfully start your online business
This reading of the online company proves to be invaluable for structuring one’s communication and sales flow. Go and intercept users where they are. Providing the most complete and convincing solution to a problem or request, which is why so many people are attracted to the figure of the social media manager.
Choose the right online channels
Choosing the right online channels for your new business is a further cognitive step for the young entrepreneur. Perform the right actions on the web and social media both organically and for a fee. Building a valid digital strategy.
The young entrepreneur must know and know how to move within the digital ecosystem by activating profitable levers. For example, structuring a blog where you can elaborate targeted and useful content to clarify the pluses and minuses of the product or service offered with content marketing.
It’s good that I have an idea of how:
- Activate lead generation, lead nurturing, and inbound marketing tools to create customers. Must be able to maintain contacts and create a relationship with them and not abandon them, by hypothesis relying on sending newsletters.
- Read advertising campaign data and modify or adjust the strategy.
- Experiment through A/B testing and try new tools.
He doesn’t wait for someone to offer him the solution, but loves to “get his hands dirty”. The advantages of a correct online presence are innumerable and the young entrepreneur must be aware of them.
Examples of young successful entrepreneurs
Who are the young successful entrepreneurs? Let’s take a look inside the Italian borders to learn about the stories of some “infant prodigy” who certainly don’t lack determination.
Let’s draw some names from the Forbes ranking:
- Gianluca Manitto and Alessandro Ambrosio under 30, creators of Epicura, a digital health clinic that assists over 200 patients a day.
- Luca Rubino author of the first electric hypercar of the Automobili Pininfarina group.
- Giorgio Tinacci, twenty-seven years old, has entered the real estate market by co-founding Casavo, an instant buying platform destined to cross over into Southern Europe.
- Alberto Cartasegna and Filippo Mottolese, just thirty years old, are the architects of the creation of Miscusi, the chain of fresh pasta restaurants that first invaded Milan and then other Italian cities. Soon destined to inaugurate European shores.
- Iris Ferrari, Youtuber and writer of two books already published at just 16 years old. To date, she boasts collaborations with major brands as a true entrepreneur.
- Micaela Illy and Olivia Burgio, founders of EatsReady, have intercepted the need for practicality and comfort in the workers’ lunch break. With their innovative start, it is possible to pre-order and pay online in restaurants.
Common Mistakes of New Digital Entrepreneurs
Embarking on a digital entrepreneurial journey is exciting, but it is also fraught with common pitfalls. In the video I highlight what eight critical mistakes are often made by new digital entrepreneurs.
These include overestimating the initial business idea and underestimating execution, hesitating to share profits in potentially more profitable collaborations, and prematurely building a business structure before making sales.
In addition, many fall into the trap of entering saturated and unscalable markets, or buying small companies that require too much operational involvement. Relying heavily on a single industry manager or not having structured procedures can make the company vulnerable.
Finally, venturing into familiar but declining industries without considering market trends is a common mistake. Understanding these mistakes is critical for young aspiring entrepreneurs aiming for long-term success in the dynamic digital world.
Mastering Financial Efficiency in Your Entrepreneurial Journey
As a young entrepreneur, mastering digital skills and innovative strategies is just one part of the equation. Equally crucial is understanding how to manage and optimize business costs effectively.
For comprehensive insights into reducing business expenses in various areas, including digital marketing and operations, explore our detailed guide on how to reduce business costs. This resource will equip you with actionable strategies to enhance your financial efficiency and ensure the sustainability of your entrepreneurial venture.
In conclusion, becoming a successful young entrepreneur requires a combination of passion, determination and a deep understanding of the digital world. By embracing online marketing, mastering business models and understanding consumer behavior, young entrepreneurs can effectively sell their ideas and build sustainable businesses.
However, it is important to avoid common pitfalls such as overestimating the initial idea and underestimating the execution. By learning from the experiences of others and mastering financial efficiency, young entrepreneurs can navigate the challenges and opportunities of the digital world to realize their entrepreneurial dreams.
You’re starting to develop many ideas for your future, find out how to fully understand the real possibilities of online
I direct Digital Coach®, the professional training school, leader in training all professionals who work in the Digital Marketing & Sales field.
As a trainer, I have trained over 35,000 business professionals from over 300 large multinational companies and over 5,000 Italian SMEs.
I devised the “Digital Strategy Framework®” method, thanks to which since 2014 I have been helping companies to define and improve over time a digital strategy that maximizes the generation of turnover and online sales.