Top business quotes from successful young entrepreneurs
Make sure all your bases are covered with MiWay when you start your own business
According to Stats SA, 55.2% of the country's youth are unemployed.
It gets worse. That degree or diploma you thought was going to secure you a job might not be as valuable as it used to be. If campaigns like #HireAGraduate are anything to go by, a university or college qualification doesn’t guarantee automatic entry into the workplace.
Whenever people talk about the country’s youth unemployment crisis, the blame is placed squarely on the government. But generating sustainable job creation isn’t as simple as waving a presidential wand. Businesses and ordinary citizens also have a crucial role to play. And as the biggest casualties of the unemployment disaster, the onus is on the youth to create jobs.
The thought of starting a business is, understandably, quite daunting. But just because something is difficult, doesn’t mean it can’t be done. Need proof? What do Microsoft, Apple, Facebook and Google have in common? They were all founded by people in their early to mid-20s. If they could do it, so can you. But you’re going to need a little more than confidence.
Here are a few nuggets of wisdom from young entrepreneurs who are running successful businesses.
Research as much as you can
“Initially I underpriced a lot of services based on what I had learnt freelancers were charging for similar work. When I revisited it and spoke to some of my mentors, I discovered that there is a lot more you need to consider, such as your overhead costs, your payroll, and so on.” – Munene Khoza, founder of Mint Language Consultancy
“Don’t wait until you have all the answers, because you will never have all the answers.” – Zoe Barry, founder of ZappRx
Get over your hang-ups
“As you start working on your company, you start working on yourself. Because this company is a reflection of who you are, and every single one of your insecurities is somehow going to be challenged, they are somehow going to bubble up to the surface. And you are going to have to defeat them in real time.” – Anda Gansca, founder of Knotch
“The biggest risk is not taking any risk. In a world that’s changing really quickly, the only strategy that is guaranteed to fail is not taking risks.” – Mark Zuckerberg, founder of Facebook
Life is full of inconvenient truths, and one of them is the fact that young people are probably going to have to figure out the unemployment problem on their own. But would you have it any other way?
When you finally decide to take the plunge, make sure all your bases are covered. The first step is to get business insurance. Once you’ve got an insurance quote, you can focus on what matters most – living life your way.
This article was paid for by MiWay.